IF PRICE CAN BROKE THIS LINE (WE ARE IN DOWN TREND CHART) PRICE WILL MOVE FOR LOWER SUPPORTS AND THIS IS GOOD POSITION FOR SHORT, JUST BE AWARE IF YOUR POSITION TOUCH FIRST TAKE PROFIT YOU HAVE 2 CHOICE
1. CLOSE ALL OF YOUR POSITION AND OUT FROM DEAL
2. CLOSE HALF OF YOUR POSITION AND MOVE YOUR STOP LOSS AT ENTRY POINT AND WAIT FOR SECOND TAKE PROFIT.
POST WILL UPDATE...
Bitcoin and other Cryptos have not been an interest of mine until recently. However, sticking to the market technical's of smart money traders, I have seen some interesting price action in BTC of late and have actually entered a trade (for he second time ever in my 10 years trading) in the beast that is Bitcoin.
This chart will undoubtedly look foreign to most...
UTX was under heavy selling by High Frequency Traders for 2 days. The runs down ended at a weaker support level. Sell short traders should consider this a risk area for a bounce, due to Buy to Cover orders from Professional Traders closing sell short positions.
HAS gapped up on strong earnings news. The gap is a breakaway and is now in a compression mode. Balance of Power shows some pro trader activity in the stock at this time. The next resistance level is the highs of September. This is a swing or day trading setup.
CERN gapped in April to quickly complete the short-term bottom formation. It ran up on pro traders and smaller funds buying in the past few days. It is now nearing the previous high’s resistance of last August. This may create a retracement due to profit-taking by the professional traders.
Celgene Corp has had 3 HFT gaps this year. The first was gigantic. Then HFTs made a mistake and gapped the stock down. This resulted in Pro Trader buying at that lower level. Recently it gapped up and is in a compression mode.
AAPL has a pre earnings report setup. The pattern is stepping upward ahead of Apple Computers’ first quarter report for 2019. The candles indicate this is a professional trader pattern. HFTs may gap this stock on the day of the earnings release.
XOM is in a consolidation as oil commodity prices are rising. This offers incentives for pro traders to enter ahead of any HFT activity. The bottom has some buybacks in the candlestick structure as well. The goal is to generate speculation among the retail crowd.
WDC is completing a bottom formation ahead of its earnings report due out later this month. The bottom has a shift of sentiment pattern seen in volume-based indicators. Candlesticks show pro traders are controlling the stock price as some smaller funds sell out as the bottom completes.
The huge candlestick yesterday was NOT HFT activity. A run occurred toward the end of the day, driven by pro traders who received early news regarding the settlement of a 3-year lawsuit with AAPL. Pro traders initiated the end-of-day run and smaller funds’ VWAPs triggered to continue the end-of-day run on high volume.
This's my next plan for GBPAUD in 4 hours chart timeframe. As you can see in chart we found the big falling wedge patten.
if you want to trade with falling wedge pattern the next target in the green line. the stop loss 100pips with rewards 500pips
this is the good setups for long trade. 1:5 Risk Ratio, Enjoy my trading plan!
"FROM ZERO TO HERO...
AIRG has intermittent momentum developing with strong runs from pro traders that rest or have profit-taking in between the runs. The stock’s all-time high is around $29. It faces resistance at $17-18 which may shift the trend sideways temporarily.
CHKP is one of the few stocks that has breached its previous all-time high, corrected mildly and then resumed the uptrend to new higher highs. The stock has a mixture of retail traders, pro traders and mild Dark Pool accumulation at times. The momentum will stall intermittently with profit taking from professionals.