Another Forex Trading Snack. From my original posting of the short opportunity that I saw in USDNOK, my tactics have always been in building a position up to take advantage of my longer term bias for the pair. The market will do what’s its going to do and all we can do is catch a ride if we can. Newer traders might just catch a great entry point but only get...
Reasons I bought 1. Currently bouncing off of a weekly support level which is also respected multiple times in the daily timeframe. 2. Zacks rank: 1 strong buy 3. Also bouncing off 50 sma 4. Solid risk reward ratio about 1:4 or more
*TIMEFRAME FOR PLAN EXECUTION - Dec 3 2018 - Jan 11 2018* BDR - PLAN A - I expect to see a move south back to $1.10 with consolidation and diminishing volume. If indicators are suggesting so, a purchase here $1.10 would be great for a subsequent move north to $1.30 for an 18.01% win. PLAN B - Should the $1.10 support not hold up, my opinion is a move...
The resistance level that was just broken into is also a psychological level of significance due to the fact that the price at this level is $100. This number usually hold some importance on many stocks. This stock has proven to hold this price level as an area of significance. DG (Dollar General) was also in a similar position not too long ago.
The overall market did not do so well today. Netflix, Apple and other large tech companies experienced significant sell-offs today as well. Despite all the red across the tech board, IBM managed not only to stay positive, but it has experience some significant buying pressure. IBM is also very close to the 200 sma and is making higher lows towards it on relatively...
POR has been trending in the upwards direction for quite a while now. It appears to have some excellent volume support on the way up. Where as downward moves result in a reduction in volume. POR has been respecting the 20 EMA for quite sometime and formed a bullish candle today a with the lows at the 20 EMA. POR also has a zacks rank of 2 (buy) which is a good...
ALLY has recently been upgraded by Zacks.com to a rank 1 (strong buy). It has beaten earnings for the past 4 quarters. It is currently setting up for a possible break out. I will be looking to go long this week on the close above the upper trendline of the symmetrical triangle.
VSTM has been trending up for quite some time now. We can see a beautiful ascending triangle has formed and two tops have been made. VSTM has recently beaten earnings however, it only has a zacks rank of 3 (hold) so I wont be holding this for too long. The MACD is also trending downwards but it can reverse if it continues the move to the upside. Volume has also...
GME broke out of a beautiful symmetrical triangle. I can buy on the break above the upper supply area. However, it has recently been downgraded to a zacks rank of 4 (sell). There is however a possibility of a buy out which would result in significant move to the upside. Also, zacks analysts do not expect GME to meet earnings estimates which is not too far away. I...
ALDR was recently upgraded by zacks to a rank of 2 (buy). ALDR is in the healthcare sector which has been doing well over the past 6 months. It is currently making a nice move up with higher highs and higher lows ( Ascending triangle). There may be a couple more days of consolidation so I will wait for a bullish confirmation with some strong volume to support the...
ECHO has a zacks rank of 1 (strong buy). It pulled back to the 61.8 Fibonacci retracement level on the wick of a bullish candle. It is also consolidating around this price level. it has also closed above the 20sma.There is definitely some historical resistance overhead, however, I believe it can break above this level due to the fact that earnings have been doing...
I bought this on today's close. This stock is in nice uptrend and recently experienced a nice pullback to the 50% Fibonacci retracement level. It is also consolidating very nicely at this level. There was also a nice increase in volume today to support the move. I could have waited for a bullish conformation but all other factors are good so I entered early for a...
EURJPY > Long Probability 1D / 1W Area of Interest: 133.25 / 133.30 T/P @ 135.30 S/L @ 132.70 Expecting consolidation toward 134.00 /134.40 level with possible break above toward 135.00/60 levels. A break below 132.70 could see decline toward 131.66 area where bullish rebound would be expected. Pullback to 133.25/30 level is required for set-up to remain...
USDCHF > Long after Pullback Buy Entry @ 0.95750 T/P @ 0.97750 S/L @ 0.94750 Resistance @ 0.98370 broken with expected rise toward 0.98590 / 0.99000 level for re-test. Expecting consolidation toward 0.97050 fib retracement, followed by 0.96700 and 0.95650 primary support. Expecting 0.95650 support to hold and bring rebound toward psychological level of...
AUDUSD - Short @ 0.78750 1W IND: 20 SMA / 50 EMA Area of Interest: 0.78750 > 0.78970 T/P 1 @ 0.7770 T/P 2 @ 0.7733 T/P 3 @ 0.7700 Extended @ 0.76600 * Personal analysis only. Please use your own rules and strategies prior to entering market. ** Forex trading involves HIGH RISK. Before entering a trade, carefully consider your objectives, financial resources...
NZDUSD - Psychological Support Broken 1W > IND: 10SMA / Elliot Wave Pair broke psychological support @ 0.70000 reaching 0.69700 setting new 5-Month low Further decline expected toward 0.69070 / 0.68440 levels Key resistance @ 0.70550 w/anticipated upward movement expected to be held by 0.71020 representing falling 10SMA. * Personal analysis only. Please use...
USDCHF- 1W > 10/22/2017 IND: 20 SMA / 100 SMA Broken resistance @ 0.9835 indicates further rise to 0.9990 testing w/20 SMA adding additional confirmation to uptrend. Break of 0.9846 from weekly 100 SMA adds confirmation to upward momentum, IMO. Break and Hold above 0.9990 indicates further rise to 1.0342 re-test resistance. Key support @ 0.9736 with break and...
EURJPY - 1W > 10/22/2017 Pair remains trading in 131.69 - 134.39 range Decisive Break and Hold above 134.39 indicates further rise to 141.04 re-test in longterm Decisive Break and Hold below 131.69 indicates further decline to re-test of 127.55 support in longterm Personal bias: Neutral * Personal analysis only. Please use your own rules and strategies prior...