Idea is based on median line analysis, fibonacci ratio's and the use of the following indicators: Bollinger bands, Stochastics and MACD. The rationale behind this set up is shown on the chart with specific targets and stop losses. Good Luck guys.
Although looking a bit choppy, the bigger picture on Gold still shows an uptrend with higher highs and higher lows. Price has touched the floor at ~1180 and rejected the trend line for a third time giving a bullish engulfing and doji bar yesterday, together with rejecting the 0.786 Fibonacci level and closing above it. Stochastic and RSI are in convergence and are...
Good 1-2-3 pattern to continue a bullish bias. Expecting to break the resistance level but maybe too extended to break now. Looking for a small pullback or flag to work off the overbought stochastic.
Seeing the way the MACD and MFI is acting, I would say there is significant risk to the downside. However if you are already long from the recent low, then I would probably look for a continuation of the more obvious trend
Could we see a retest of the recent large red candles midpoint? Possibly. And then either re-enter the bearish channel or chug through the...
Despite the recent rally in the FTSE 100, Diageo has lagged the market. However, potential buyers may come in around 1757 as this is:
1 -the base of the tram line I have drawn in. Tramlines offer great low risk entries and you can often anticipate where the price will bounce by locating a trend line and then drawing a parallel one through the lowest low like I...
Two Systems Revealed Directly From The Creator - Let's Talk Trading Systems.
I spoke to Jake Bernstein and asked if he had any updates to his Stochastic POP Trading Method. At the bottom of the page is a PDF Jake published a while back (Please read for basic rules, which also Includes a New Method). I’m Labeling the Original method Stochastic Pop Method 1, and...
Here is another strategy code for Jake Bernstein's Stochastic Pop and Drop.
Follow the link -
Unfortunately, I do not have any videos on how to use these, The Link for reference posted with the Script will give you enough information to trade.
Enjoy...
UCSgears
The S&P 500 made a possible continuation signal from Wednesday's trading session. While it did close back above 2095, I am concerned about the candle it formed. This gives an edge to the sell side to continue its move lower. It may attempt to move to 2100 but that has a chance to be short lived.
Short term bounce setting up. RSI and stochastics are almost oversold and there is some bullish divergence when looking at the MACD. Also 200 EMA is just below the current price along with support that has been in play for a while. Currently trading right on the 0.382 fib retracement. Anything could happen but it looks like BIDU is setting up
Hi Traders,
As I posted just few minutes ago, I expect and hope to see one more high coming into play before we see him going lower. Looking this daily chart, we can see that we are in a very strong resistance zone, BUT I think that we can make a new high, scare a lot of traders and then reverse lower. This is what I expect and I will trade this (if he makes new...
Similar to AUD/CAD, AUD/CHF is setting up for a short opportunity with the following in view:
- inside bar following high test bar in pull back to 50ema
- price rejection at resistance at ~0.8210
- price retraced to 0.618 Fibonacci level which coordinates well within proximity of resistance at ~0.8210
- Stochastic and RSI in overbought territory
- Stochastic and...
Confluence of factors for short set up:
- resistance at ~0.9590 (also weekly resistance)
- inside bar formation in pull back below resistance
- 0.786 Fibonacci retracement/rejection
- hidden divergence (bearish trend continuation)
entry - below low of inside bar
stop loss - above mother bar
target - previous swing low or 1.272 Fibonacci extension
The Dollar Index (DXY) is close to a zone of resistance around 92.88 which is also 0.236% fib. Is in this area that I am waiting for a long time to reach and we might see a short to medium term correction or even reverse if the greenback shows some worrying signs.
UPDATE: The price didn't stay above $315 for 24 hours as I mentioned as rule to enter the trade. Instead the price flash-crashed a few hours later down to $304.99. This renders my entire "bottom trading" idea posted here invalid.
The goal of this bottom trading strategy is to avoid risk and therefore the trade should only be entered if the price stays above $315...
The AUD/JPY daily chart displays consecutive lower highs and lower lows with a potential short setup to continue the visible falling trend (supported also by downward trendline). The current corrective phase seems to be running out of steam in initiation of a potential impulsive phase, with the production of a bearish reversal price bar:
- ricocheting off a...
CM_Stoch Highlight Bars
user belgusinc Wanted to Know How To Create Highlight Bars based on Stochastic Bars Being Overbought/Oversold
Here is a Coding Example
Basics:
Ability to turn On/Off Crosses Only Above or Below High/Low Lines.
User sets Values Of High/Low lines. (Determines how highlight Bars are plotted, Based on the Value of the High/Low lines.
Ability...
