Using market structure and overall trend trading I was able to identify the lower high that was being formed on CL and entered off the 15M retest then placed profit targets on past DOLs/ Support ranges.
Entry: 70.97
Stop Loss: 71.39
Profit Target 1: 70.53
Profit Target 2: 70.13
Double bottom being formed on $AMD as well as a slight uptrend on the 5m time frame before close.
I bought $79.5 Calls 03/23/31 Expiration.
Will start taking profit at 0.382 fib and completely close out the trade at 0.5 fib.
Contrary to popular belief I think Tesla respects price action as shown on the chart, Tesla has been on an uptrend since the market started recovering in late March. Due to big news from the stock split it dramatically increased throughout August until beginning its downtrend at around $503 on September 1st. I utilized the Fib retracement tool and placed it from...
OANDA:EURJPY has been on a continous uptrend. It has formed a falling wedge on the lower time frames but given the factor of the amount of medium-high impact news coming in before the London session I decided to simply place a buy stop instead of a market buy.
EURNZD has been trading at a Support and Resistance trend for the past few days. A Sell Entry during the London session would have been the best entry but I think it still has room to fall as it has not reached support yet. Should see a lot moves during Sydney session.
On the 15 minute timeframe there is a head & shoulders pattern forming. Due to the market closing in a few hours and the weekend approaching I would not enter a buy just yet as there are no other confirmations saying we will be bullish throughout until market opens Sunday night. But if I were to place an entry it would be at the top of the longest wick. Because...
AUDUSD has been in an uptrend since March 20th 2020. It has respected the Fib retracements set for it. But has broken structure, which I assume was caused due to the Australian news that was released over the past two days (April 29 and 30th).The pair cross correlates with EURAUD meaning if AUDUSD moves one way EURAUD tends to do the opposite. I state this fact...
