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Launch Chart
10 hours ago
EURUSD, M Neutral
15 789
When you lose a trade

1- Do not increase your trade size after a loss.

2- Take responsibility for the loss.

3-Train your reaction to losing trades. Don’t be too harsh on

4-Accepting that trading is an activity that requires a certain amount of time and effort, but doesn’t always provide something to show for them.

When you win a trade

1- Do not increase your trade size after a win.

2- Stick with what’s working but be aware that it won’t last forever.

3-Maintain a critical eye on what’s happening.

4-Make regular withdrawals from your profits.

1 day ago
XAUUSD, 240 Long
80 5168
Update: I added 0.2 lot to position at at 1168.00. Full position = 0.8 lot. For just below 3% risk of balance.

Trade 15: Bought XAUUSD @1171.00
Trade Status: Active
S.L @ 1160.00
T1 1187.00
T2 1200.00

For $30 417 Balance, Position size = 0.6 lot ~ 2% risk of capital
For who need more explanation:
Balance= $30 417
2% x 30417 ~~ $608
Each tick in gold is equal to $0.1
For each mini lot or 0.1 standard lot , each tick Equals $1
My stop loss is 11 dollar = 110 ticks.
$608/110= 5.5 mini lots OR 0.55 standard Lot. I have chosen to make 0.6 lots in my trade.

Support area
Multiple rejection as clear on chart through pin bars
Descending support for wedge
Bullish divergence on RSI
Negative sentiment surrounding markets, may support safe haven demand.

Don't forget to click the Thumbs Up
Wish me luck and best of luck for everyone.

For Trades rules and guidelines follow this link

My best regards
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22 hours ago
GBPAUD, 60 Short
7 925
Can't take credit for finding this one. Monday is my off day but a few of my clients have been keeping me up to date with some of the opportunities that they've found. Most of the action has seen to come on the GBP pairs (GBPNZD $ GBPUSD) and with the Greece situation time it's still risky business in the markets as soon as something major is released. but if we are going to consolidate until we gear a decision then I might as well take advantage of the opportunities that consolidation provides. Just make sure you have a stop order on because the last thing you's want to be is unprotected during these times.

Akil Stokes
Chief Currency Analyst
The Weekend Review Video Series
23 hours ago
USOIL, 360 Short
5 947
Many times in the past, I’m asked how/where you begin counting Elliott Waves. There are 3 patterns I look for: 1) 5-3 combo, 2) Equal Wave Patterns, 3) Triangle patterns.

This morning, a triangle came to light that unlocked some wave relationships that are causing me to change my tune on Oil. (For those who attended the US Opening Bell webinar this morning, I was bullish Oil. In light of seeing this triangle below, I am changing my tune to bearish.)

When I changed the time frame of chart, the triangle in late April was exposed. When drawing the 2-4 trend channel based on blue ‘iv’ triangle in late April, it created an incredibly clean trend channel (red channel). These trend channels are useful for determining ending points for the fifth waves, in this case blue ‘v’.

This is important for a couple of reasons. First, notice how prices couldn’t penetrate the mid-line on May 6 (the dotted red line). This is quite bearish. The opposing end of the trend channel is the typical stopping point, yet in this case it couldn’t get half way there!

Secondly, this upward push could be the end of circle ‘iv’. Fourth waves typically retrace about 38% of its third wave. In this case, the 38% retracement level was at 63.50 and prices came very close to this level.

Therefore, with a very bearish ending wave to the upward push that exhausted near an important fib level, we elevate the bearish counts in the green notes. Both counts in the green box call for a move below 45.

If you like, give a thumbs up and follow. Feel free to share your EW counts on Oil as well.
15 hours ago
1 984
Time for some wild speculation, looking at where we might be in a year, if the bulls have their way. The next "reward halving" coming in July 2016 could easily fuel another bubbly rally (whether you think that's a valid reason or not :P)

I've been using this dusty old fork for a really long time now, and at this weekly scale, there's a lot of wiggle room. So don't complain about it not fitting perfectly, or how the wicks seem off - because this is price data from, and doesn't include all the price action (AFAIK). There's no "right way" to fit the fork at this scale. I just find it useful to try and identify the super-long-term growth trendlines and potential channel harmonics.

Today, our resident chikun-herder, @fontas made a bold prediction in chat of BTC reaching $120K in two years. I thought I'd dust off this old chart and see how such an outrageous forecast could play out. While I couldn't really make sense of $120K on this chart, I did find the trajectory from here to $12K plausible (just a tenth, but still juicy :P), especially looking back at the history of the other mega bubbles in BTC's lifespan. And the timing of such a target would put us in June 2016, exactly 5 years after the first mega bubble, and also eerily aligned with the "33 week cycle" that has framed the larger movements for years (see the 1,2,3,4 columns)

I also scribbled the pink line to show what another "double-bubble" scenario would look like according to this timeframe, if we to repeat the combination bull runs of 2013. We'd hit maybe $2,000 in october before pulling back for the second push.

Check back next summer, but place your bets now, because if this is even remotely correct, we've got a 48X profit train getting started...
12 hours ago
GBPUSD, 240 Long
10 466



15 hours ago
2 424
A textbook leading diagonal is forming, a 5-3-5-3-5 structure.
We can see also perfect ratios between alternate waves:

wave 3= 0.61 wave 1
wave 4= 0.61 wave 2

I expect a final wave 5 to form reaching 0.61 wave 3 near round level 1.6000. Im opening a long position now but watching the price action closely, the target shown is just for information purpose.

After the 5 wave completion i will be looking to sell expectign a strong decline.

Best regards
6 hours ago
GBPUSD, 60 Neutral
2 759
I have a handful of trades on my radar today but I wanted to concentrate on the GBPUSD this morning because of the multiple opportunities. The main trade that I’m looking for is the Bearish trend continuation setup. This market has clearly broken structure to the downside and if we get relief we have an excellent structure level to predict where our next pullback will come to.
We’ve also just come into a minor support level which may offer counter trend traders a buying opportunity. This will be something that I dig into during my live room on a smaller timeframe (waiting for confirmation ofcourse), but with the RSI buried, minor structure and a little Fibonacci ratio confluence, my eyes are certainly looking for a chance to buy the GBPUSD as the bears become exhausted.
We had a good day in the Syndicate yesterday. I went 1 for 2 and I’m pretty sure Jason went 2 for 2 on his NZDUSD and GBPJPY shorts. Also on my radar today is the GBPAUD, EURJPY (already long), GBPJPY (already long), EURUAD and AUDCAD

Akil Stokes
Chief Currency Analyst /@AkilStokesRTM /

Forex Weekend Review Videos:

14 hours ago
2 365
This trade is based on previous EW idea:

We have some technicals reasons to enter long:

- harmonic AB=CD retracement
- strong trendline support
- bouncing on EMA200
- 0.50 fib retracement
- stochastics oversold
- near pycholevel 1.5500

Best regards
3 hours ago
EURNZD, 60 Short
10 216
This pair looks like a great short with a triple top formation. I am waiting for the trend line on the chart to be broken for an entry! :)
1 day ago
XAUUSD, 240 Neutral
2 507
Every moments there is a crisis.
And every moment. It is possible that gold will fall to 1080..
But there is also the possibility of a jump to 1300
21 hours ago
1 822
In recent days the price has moved above the 30 week (200d) EMA for the first time since the bear market began. That is, it's now above $270.

Oscillators: AO has been in the "Spring" phase of the four seasons for 11 straight weeks. Very Bullish.
Oscillators: Fisher has crossed above the midline directly from its deep position under the 5th. Bullish.

Scenarios: Scenario A (Red) is dominant now. Scenario B (Blue) and C (White) are severly hurt because the time horizon for the first selloff has been missed.

As long as price stays above $270 and breaks above $300 (local high) the red scenario is dominant. That means, in Elliot wave theory, wave 3 has started. Speculation as to the next high of wave 3 can range as high as:

That's right, $127K per bitcoin. Possible? Who knows. This is bitcoin.
21 hours ago
EURUSD, 5 Short
8 461
Price came up to the 38.2 fib the 61EMA and horizontal resistance. Entering a quick short, if any of the resistance is broken I will exit.
6 hours ago
EURUSD, 240 Short
0 518
EUR/USD breaks trend line support and decline till 1.0800 cannot be ruled out .Intraday bullishness can be seen only above 1..1020 level.

The minor support is around 1.0950 and break below will drag the pair further down till 1.0850/1.0800.

It is good to sell on rallies around 1.09620-650 with SL around 1.1050 for the TP of 1.0820
1 hour ago
DOWI, 12M Neutral
1 121
Now that the DJIA is down on the year and down 1% today, I felt it was a good time to look a the parallels to the last breakout in 1976 from an "11 years at one price" level like we had in 2012. See what you think.

If we repeat what happened in the late 1970's with massive inflation (It averaged greater than 10% per year for 1976, 1977, 1978, 1979, 1980, 1981) then the stock market on a real basis will have a long way to go down. Most people don't look at the market that way, and consequently there can be many discussions about what really happened back then. The interesting point is that the stock market didn't reach a new high on this rally when adjusted for inflation (CPI-All Urban Consumers Index) from its peak in 2000 (see my chart published yesterday on the S&P500).

The 14 years mode for the 1915-1951 (386.10-40.56) trading range led to a similar-sized rally out of that range, which projected the high reached in 1972. The current trading range around the 11-years price range at 10,600 is 14198-6469, and allows for a move to 22,417 in the Dow Industrials. But remember this is a nominal price, not a "real" price.

Again, see what you think. If we go down and "retest" the mode at 10,600, that would be a very strong decline, yet historically it isn't out of line. On a long, long term basis, we could be breaking out of a level which will be the setup to another 9-fold move up in the market to 81,000 on the DJIA, since the first one is around 100, the next is at 900, so 9 times the 900 level gives us a target of 81,000.

I hope this chart is interesting. It is always good to look at the long term perspective.

6 hours ago
EURUSD, 15 Long
11 281
This bullish crab just completed. I'm in LONG on this pair and looking for at least target 2 to be hit. If not more. Follow your own trade rules....
50 minutes ago
SPX500, W Long
4 145
Bullish Elliott Wave Count

If the bottom is in and the parallel trend channel is valid. SP could make this 5 waves to Confluence Zone

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