EURAUD is preparing somethingHello everyone, we can see a kind of breakout of 1.45 level, is it false or pullback for a continuation? I can't tell. I need more signal to decide about which direction to take. For now it seems coming back into the channel. if so, I will go short and target the support level for TP, SL somewhere near 1.46
Notice, this level have been holding price for a very long period of time. Since april 2015, price usually test it first. Not easy to break a psycho level like 1.46
Since november 2016, price is trapped between 1.45 and 1.46. For now, no decision have been taken
Rangebound
EURGBP ShortEntered a short stop order at 0.83887 with TP at yesterday's S1 fib level (might adjust TP to the other day's S1 fib level or enter another trade for the 2nd TP), and SL near base pivot line. This is in line with current weak sentiment over EUR because of yesterday's ECB news about QE extension, though based on higher timeframe charts, it's more likely that this pair will hold on its current week support at 0.83.
W:
D:
EURUSD Overview 1DThe sideways trade since March 2015 represents the longest period of range contraction since the inception of the euro. Even afer the US elections, the trend remains the same and expecting the Dec 16 , Rate hike by Feds, it might break the major support line which goes as deep as March 2015.
Nearing pivot levelTechnical
First off, I do not suggest shorting companies based off fundamentals. I believe there are 17 pure short hedge funds out of 10,000 or so that run a fundamental short book. I have no edge over them. H/T FT Alphaville podcast with Jim Chanos, great listen.
This is purely based on technicals.
The trading range, as I see it, is 92-120. Strategy- sell 120 buy 92. Rinse, repeat. I am more biased to be long these kinds of stocks, so I would buy on a dip toward 92.
These giant tech companies can go range bound for years. Microsoft traded 20-36 range for almost 15 years b/f breaking out to the upside.
I would call this more of a swing trade with a 6 month+ time horizon.
Crude Oil Futures - Trading Levels for 3rd Oct 2016Expecting "intraday" range to be held between 47.70 and 49.40. These are NOT predictions of price action but levels from which to anticipate a correction to the prevailing price movement.
Suggest Long @ 47.70; Stop of 15 ticks & Target of 45 ticks.
Suggest Short @ 49.40; Stop of 15 ticks & Target of 45 ticks.
NOTE: This is a "counter-trend" strategy.
Pounding the Aussie - Another Month of Range TradingLooks to be some leveling off of price from the year long down trend. These big trading ranges can nab you 500-700 pips... just wait for it to start to take off and break the Red SuperTrend v1.0 line. Use a small position and just forget about it for a couple of weeks.
Insta-Pips!
DAX 30 - Trading Levels for Thursday, 09/29/2016Expecting the DAX 30 to be range-bound between 10417.0 and 10625.0.
Shorts: 10596.0 & 10625.0.
Longs: 10417.0.
RISK/Stop: 15 - 20 points
Target: 30 - 40 points or more.
Strategy involves waiting for price to approach Levels and to place reversal trades at those levels. It's counter-intuitive, so most traders will find this strategy hard to swallow! There are many more opportunities in a live environment.
Everything you need to know about USD directionYou may have noticed USD not showing much direction, it's because of this little guy here, the US dollar index. Until this breaks out of the nice little wedge that's been holding it prisoner for months and months, we're likely to see USD pairs struggle. So we need to watch other currencies that have big strength or weakness. This doesn't mean USD pairs won't move, it just means the USD component will not be doing much of the push either direction. I love audusd, nzdusd, usdcad and others, but not for the USD side of it.
So this is more of a reference chart, there's no trade here for me it's just what I'm watching so I'll be ready for the big USD movement when the wedge finally breaks.
Butterfly Pattern in range-bound marketI'll be looking to enter near the drawn green trend-line at a butterfly point D completion via a price action or trend line break on a lower time frame. Adjust target 1 to .382 retracement of AD and I have target 2 as point C just below the psychological 1.1300 level.
bullish idea reversal on GBPAUD 1 HOURStrong uptrend so im following it. slight downtrend and choppyness has started because of heavy selling. price should come back up to normal. I could be wrong and price could touch the blue rectangle of support at 1.72619 level, if price does touch that rectangle a reverse is definitely going to happen. EITHER WAY I AM BULLISH
FX00101 - USDCAD - Sideways range bound Pair is in a bullish sidewards range bound channel. A daily pin bar rejecting the 8 and 21 EMA's has formed. This can be seen on the 4h chart as a bullish engulfing signal. Look to go long on a break of the doji (pin bar) or better still, wait to see if price retraces further towards to 8EMA before entering long as this will give a better R/R.
AUDCAD - Long term rangeThis pair has been in a ranging environment for pretty much 3 years now. Since this range held repeatedly it is likely that we will see another rejection from the resistance zone between 0.995 and 1.010.
If price manages to close above 1.01 on a weekly basis I would change my bias from neutral to bullish, long term. In that case 1.050 would be the logical level to target.