As you can see I've been playing DNT like an absolute fiddle. I see this as a great long opportunity because I still consider DNT undervalued in terms of market cap, and think it has a lot of room for growth. Since its initial pump, it's been staying faithfully within the ascending channel while drawing down between fib levels of resistance. I definitely see DNT...
Dow Jones INDEX:DJY0 formed a bearish Wolfe wave.
Being supported by RSI divergence at m15-m30 timeframe and significant stopping volume at point 5, it appears to be a good sell entry point.
Crossing line 2-4 supported by increased volume should confirm the move South.
Opened 3 positions at 22049/50, SL 22167, TP 21878
GL All!
Reasoning:
-We've got a symmetrical triangle but judging by the indicators (Bearish Divergence) the pair looks like it will breaking out to the downside
-TP target would be set on the still fresh demand zone, a little higher up from S1 pivot
Lovely retrace on the daily to the golden Fibonacci level of 618. Complete rejection, in addition to rejecting a key support/resistance line at the level of ~1.64.
1. Rejection of 0.618 Fib level on the daily retracement
2. Rejection of ~1.64 level
3. Massive RSI divergence across all time frames (4h and below)
4. 4H RSI is extremely high (~80). Only happens a...
My Friend
Gartley pattern has emerged on the FX:EURUSD on the 60min chart. Stick to your trading system and use this a to highlight your strengthens. Also; make sure you have proper stop loss or risk management system implementation in.
Remember friends no revenue leakage!
Cheers and Happy Trading
EDub
Peso has been Trumped by "Build the Wall". Mexico has conceded to work with US on Border "issues". Mexico lost Ford mfg to US because of Trump agenda and probably will lose more. Mexico hopes to arrange decent trade to counter effect.
Mexico Central Bank sold off dollars to stymie skid .
Meanwhile, speculators know that the Peso is squat .
I think the...
The RSI can be a great trading tool if used properly. Most Traders use it for an overbought/oversold indicator and that is the worst use of the RSI.
As you can see from the chart, there are multiple short term trade setup in this one hourly chart. Although I am only showing 3 examples there are many more setups on this chart but did not want to make a mess...
