Pros: - Clear head and shoulders - High vertical distance - Nice volume contractions - Volatile stock - Average short interest (1.77%) - Rather close stop Cons: - Right shoulder is slightly higher - No clear longterm trend As you can see my suggested trade setup gives a risk reward of 2:1. If the stock behaves nice and breaks down, i think this is worth a...
Last time I've traded the $EURGBP, it was after a long setup we had in the Elite Zone when this pair touched the bottom of a trading channel and a strong Fib confluence support zone. Now, after retracing 61.8 of its previous upward swing, is it time to buy $EURGBP again? A cross back above the 0.79 resistance zone will confirm possible higher move, maybe to...
$GBPUSD reached an intraday key resistant @ 1.6200 area. At Daily Time Frame, GBPUSD already tested Weekly Key Level @ 1.5880. There is bullish reversal potential here for long term look, and I am expecting It will build Inverse Head & Shoulder, where the 2nd should should be supported @ 1.5950.
After breaking above the upper channel of consolidation at ~1.1035 on the daily chart and rallying into previous resistance at ~1.1185, is it time for a retracement back into the moving averages with today's bearish reversal bar? RSI bearish divergence seems to warn so in addition to the Fibonacci extension levels where price has reached 200% of the previous swing...
SETUP for a Swing Trade with 5 to 1 and 10 -1 risk reward. ENTRY Range, Initial STOP, and 2 different Target levels listed on Chart. Any Questions happy to answer how I use this setup to make consistent profits. Setup= 1. Bollinger Band extreme with strong bullish candle followed by 2 days closing above that candles low. Pattern has repeated again and again. ...
EURUSD: It is clear short term momentum is bearish. The 1.3300 level has been compromised and at the moment there is no sign of strength returning to this market. That is FOR THE MOMENT. Things change and I recognize price is now entering a broader support zone that is based on the 1.3100 historical support that dates back to October of 2013. As a day trader, I am...
TQQQ broke through the two previously established levels of support and past our focus line, we're hoping for some more weakness before the getting in for the bounce.
ORCL is in a bear flag. but with that being said the chart is in an overall uptrend. Enter as the trade breaks out of the trendline then add once more conformation is gained when each decending high pivot is broken shown by the brown lines. These failed bear flags when triggered to the upside tend to retrace the down move about 80% giving us our target of around 42.35
Do not be fooled by the hype. There is a lot of bearish sentiment on EURUSD. On the broader time horizon fundamentals may support a more bearish view, but the world is not the simple. From a technical view, there is a short term support area at the 1.3500 level area. Any retracement back into the major support zone of 1.3512 - 1.3460 area is where I will look for...
The SPY sold off right into support in today's trading. I am looking for current support to hold for a subsequent reversal. Watch for higher higher highs and higher lows to begin setting in as a confirmation of a continued move