RCtrader2

RCtrader2 Updated 

The promise for a greater America than before might be broken this year. The EURUSD pair has developed an uptrend channel on the 4h/daily chart and might be developing a cup and handle pattern on the weekly chart. Trading switched once again to easy mode with clear entries for either shorts or longs.

RCtrader2 Updated 

It appears there is an uptrend and so I draw the chart to what could be the limits of this uptrend channel. Trade Plan: Entry: 0.7200-0.7260, TP1: 0.7300, TP2: 0.7380, SL: 0.7160

RCtrader2 Updated 

Trading Plan: Short, entry 1.1380-1.1430, TP 1.1220, SL 1.1510 Long, entry 1.1220-1.1240, TP1: 1.1310, TP2: 1.1414, TP3: 1.1520, TP4: 1.1720, SL: 1.1180 Comment: Based on historical price action.

RCtrader2 Updated 

On the chart, you see the 5 EWs and ABC corrective waves. The cardinal rules are not respected. I would rather have more bouncing in the 1.1300 - 1.1480 area.

RCtrader2 Updated 

Trade Plan: Long, entry 1.1430, TP1: 1.1500, TP2: 1.1610, TP3: 1.1742, TP4: 1.1818, SL: 1.1400 Short, entry 1.1274, TP1: 1.1224, TP2: 1.1160, TP3: 1.1050, TP4: 1.0880, SL: 1.1305 Note: The price could make a breakout either up or down.

RCtrader2 Updated 

Trade Plan: Sell, entry 1.2580, TP1: 1.2480, TP2: 1.2350, TP3: 1.2220, SL: 1.2610

RCtrader2 Updated 

The pair has been in a downtrend for the past 8 months. The trip start and endpoint is a 1250 pips long segment and it's not certain yet if it is to stay like this. There have been plenty of times to break this downwards move but the tide did not loose steam. It is perhaps now when the price stands at a crossroad and thus our chance to monitor that closely.

RCtrader2 Updated 

The ascent is very steep, so I used a 2h chart to lay down the possible limits of the uptrend channel. The MAs on the 1h/4h chart are bullish, but a possible bearish harmonic pattern on the 4h chart has to be cleared out. You can use the chart as a guide to day trading.

RCtrader2 Updated 

The Aussie bliss continues with a new prime-minister being sworn in, the 5th in the last 5 years. This marathon* that lasts for more than a decade is a tale of a third-world country rather than an OECD member. It is said that there are more people on the streets than there were in the last 60 years. The interest rate is at a record low but borrowing costs are...

RCtrader2 Updated 

Trading Plan: Long, entry: 1.26-1.30, TP1: 1.3220, TP2: 1.3600, TP3: 1.4000. SL: 1.2590

RCtrader2 Updated 

Trading Plan: Long, entry - 1.1310, SL: 1.1247, TP1: 1.1720, TP2: 1.1842, TP3: 1.1980

RCtrader2 Updated 

Trading Plan: Buy USD/JPY, entry 111.200 - 112.600, TP1: 114.000, TP2: 117.000, SL: 111.000

RCtrader2 Updated 

Trading Plan: Sell, Entry 1.1639, TP 1.1532, SL 1.1649

RCtrader2 Updated 

It is running towards the 1.15x area again. The lines on the chart are divided into leading and supporting roles. In the next 30 days, it might dance inside the expanding triangle.

RCtrader2 Updated 

Trading Plan (13/Sep/2018) Short, TP1: 1.1501, TP2: 1.1454 Long, Entry 1.1400 - 1.1500, TP1: 1.1720, TP2: 1.1750

RCtrader2 Updated 

The pair has exited the uptrend channel and is now headed towards 1.13x. It would be the 3rd impulse wave on the daily chart (5-3 EW) which has finished or is about to finish the 1st impulse wave on the lower TF (4h for example). If this scenario is true then the 2nd corrective wave is rather short compared to the 1st corrective wave. Our aim, however, is to be...

RCtrader2 Updated 

Trading Plan: Short Term: Sell until 1.2690, TP at 1.2681, SL 1.3050 Short Term: Buy below 1.2681, TP1 1.2800, TP2 1.2850 Long Term: Sell, TP at 1.2022

RCtrader2 Updated 

The release of the Canadian monthly CPI* was sufficient motivation for the price to bounce off the resistance line on the 17th of August. Seeing that happen might determine traders to buy the CAD until the pair reaches the lower limit of the channel. The target is 1.2900 which is the whereabouts of MS1 (1.2890) and the extremity of a three-drives pattern (4h...