Just below the figure 9, AUDUSD weekly price action formed a bearish flag top with a Doji. Since then price has continued the downward path and now approaching the support zone based on 2010. A breakdown from here could lead to further weakness but if price reacts at this zone and moves above the upper RTC then it may bounce and find near term...
ORLY has convincingly broken out of an 8 month range. Last week a bullish flag was confirmed on the weekly chart. On the daily chart price gapped up on higher volume. Support is now around the 160 zone. The gap was too soon to enter on a longer term strategy, due to the prolonged consolidation - it could have been a fakeout. I will be waiting for a pullback...
FDX is another one of our preferred trending stocks and has been discussed in our private forum a few times. Price broke out of the regression trend channel almost 2 weeks ago and continued to trend upward. Yesterday price closed above the resistance level and this has now been placed onto our bullish watchlist. Wewill wait for a chart pattern to set up any long...
Bullish WW pattern, Entry @ the 1H time frame with a Pin bar, Trade going with the trend, Risk: 0,5% Reward: Between 13% & 28% (Depending-on when the price hit the Target-line) R/R ratio: Between 26 & 56 (Huge!) Trade management on Daily time frame
Is Coca-Cola investment in Monster Beverage enough to boost price beyond the trending channel?
I've been a bull on this pair over the last month or so but now I've got a short opportunity on my radar looking at a retest of previous structure highs on the daily. As a counter trend trader it's important to realize that I'm not looking for the big long-term move, simply a brief correction. If this correction rolls over more than expected there's a 2nd...
* I tried to post another chart with this showing the advanced pattern, but think I messed up doing so. I'll keep trying but here's the daily view that was suppose to compliment my other chart** SORRY GUYS I've been a bull on this pair over the last month or so but now I've got a short opportunity on my radar looking at a retest of previous structure highs on the...
After creating new structure highs we're now retracing into previous structure setting up a low risk long opportunity. I'd be cautious about shooting for too high of targets since we still haven't passed the major structure area on the weekly.
If the resistance holds and is confirmed like before this week, there may be enough time to make 20 pips out of this trade. Using a tight stop loss, as there isn't significant news till Friday's close.