Good afternoon traders!! I hope you have had a great day so far! Here we have the market testing structure looking left as well as the bottom of a daily channel. It is also over extended at the 1.618 inversion and recently oversold on the RSI. I was waiting for a clear rejection of that level and we just got it. I went long on a double bottom on the 1H timeframe....
Short Bias - Looking for the price to break out of up trending channel, and upon retest go short.
Trend is indeed in favor of SPY -now some may suggest that we need to chart Futures but to be honest it won't make a difference in this case. No point of taking a long position until either 235 is re-tested or 237 for a scalp. I'd wait until 235.22 test though. It could also come down all the way to test upper channel line, slim chance but possible. Although...
Confluence with multiple methods of TA. Volume shows strength. Moving Average 50 with -50 offset is the best indicator of trend when paired with structural analysis. MACD crossing bullish; big divergence and continuation signal. Bullish Channel established. This is not a buy signal, this is strategy testing.
IMAX seems running within an upward channel, also forming a possible bear flag formation. On the other side we have the earnings coming in 2 days. So we would like to take advantage with option, and we would consider $31 March-17 Puts, last traded for $1.25 * Trade Criteria * Date First Found- February 19, 2017 Pattern/Why- Upward channel, Possible bear flag,...
Once price breaks the channel to the upside look to short with the above stop loss and tp level. TP 1 is at 1.2465 tp 2 is 1.2412
Waiting to go long on the retest of the trend channel. A falling wedge seems to have formed on the daily so this pair looks bullish in the bigger picture. This is a simple short term trade setup.
Once more I will try to sell CHFJPY, hopefully this trade will hit my TP... See the resemblance between previous RSI areas and price and compare to now.
$TLT in danger of dropping out of a long term multi-year support channel. New down trend may be starting. Hanging onto support by a thread.
Price has closed outside long term bearish trend channel on the daily and 4 hour. Looking to enter upon price retest of key level.
I found broken upward channel (short term) and successful consolidation after the breakout. My advice is to watch for selling opportunities. The target is set at the price of 1.0527. I would put SL above recent high based on 1H time frame. Take my analysis like additional help to your own trading and never extend risk. Forex involves high risk.
The US Dollar has been in a bearish trend downwards ever since the start of 2017 markets Now it has finally broken the resistance trendline of this channel. Quite notably, the 4h candle circled broke below 100.24, an area of short term resistance that is easily seen on the 1h chart. However, price closed above it, indicating that the downtrend is finally over...
Hey traders! No surprise here on the RBA release, but a good reason to buy a breakout now while we're channeling upward. Also, we may see some sympathetic long bias after the NZD inflation was released to be pushing 2% q/q. Long is active. Cheers
it is supposed for oil to break the triangle and then wait for the oil rig count to break the channel tp - 55.1 sl 53.15