Daily shows overbought with candles showing rejection on the upper side of the channel. A short can be placed if we see an impulsive below 105 level on to test the uptrend line, better with a spike in volume as well. If not, a long is likely on bounce from the 105 zone.
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Price approaching the buy zone again and could test the uptrend line again soon. Move cause by upbeat US PMI today.
Perfect buying opportunity with a stop buffer below the zone. First target at the recent highs.
Price got rejected at resistance at the start of the gap. Approaching buy zone again and 200SMA. Great opportunity to catch the next rally, target to close the gap. Stop with a buffer below the 200SMA.
$LYFT - has been an awesome ticker to day trade the last week since its IPO on the 29th. Hit the short side the first couple days and nailed the red to green on day 4. Tickers like these that are moving irrelevant to the market conditions have had the most luck in follow through. Today we had another nice selling off action, with an ORB short setup at the open,...
AUD/USD has been trending sideways for the last few weeks and is now creating a ascending triangle with the major resistance right around 0.7131. The overall daily trend is downward; therefore, I would expect as the current trend narrows in the ascending triangle, multiple scalp opportunities will occur. If my predictions are accurate, each scalping opportunity...
I am a FOREX newbie and working on my charting/analysis abilities. I will be publishing my analyses to track my own progress as I enhance my trading skill set and to document my predictions that don't go according to plan in order to get better over time. In this chart we are coming close to the end of a descending triangle where I think buyers will give it one...
Looking For Bullish Price Action Closing Out of Blue Zone To Send Us Long Back to 1320ish
And Re-evaluate what price action is telling us at the next zone.
If price fails to find support trade is invalid
If NO PRICE ACTION CONFORMATION NO TRADE IS ENTERED
Never Risk More Than 2% On a Trade
The Dow is currently rejecting significant trend lines on the weekly time frame and we are witnessing decreasing volume from a weekly perspective also.
As many of you know who follow me, these trade set ups are what I look for as it allows me to set up a good risk:reward ratio in my trade plan with significant price action changes having to occur to stop my trade...
GBP/CAD (more on our IG page - TWTI.trading)
Heavy manipulation to the upside, wiping out many traders at 1.76400 and 1.77380!
Patience and Timing were key to avoid heavy losses.
Our team were in at 1.75837 but with stops carefully placed at key levels which kept our position in the market while other traders faced heavy losses.
Target 1 +160 points
Entered Long on a 4 hour break and retest setup. Entered x2 .05 lots at slightly different price levels to ensure I didn't miss the move, but I still feel both are a little premature as they are 13 pips from the breakout area. I was a little thrown off by this size of the initial breakout.
Entry 1 -...
Lot Size .05
Stop Loss: 147.943
Entered this trade around 7:30am and price has been ranging since. Seems like it waiting for news to come out which is due in around 1 hour and 20 minutes.
Undecided about closing position because I have a small lot size and price has...
As you can see on the daily BTC chart at the moment, daily exponential support has remained significantly strong. Although, when we zoom out to the weekly chart, we notice that weekly exponential resistance has remained significantly strong also. With a weekly equilibrium pattern also in play, trading conditions are not looking favourable until one of these...
This is a trade idea that follows my previous USDCAD trade posted on February 18th that resulted in 150pips profit. We are now approaching a setup that will be able to do exactly the same!
So previously we saw a inverse head and shoulders pattern form on the supporting trendline to this pair's overall bullish trend (I have highlighted this in yellow). This...
First of all, we start by doing analysis in monthly timeframe. As you can see the price consolidated for long time then the price recently broke the upper zone. At weekly timeframe, we see bullish engulfing candle close and break above trendline. It indicates that the bullish bias is still in contact. We can look for the entry at price level 1.65.