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London Watchlist: Buying XAUUSD with a possible continuationGood morning all! Hope you are all having a superb day! The video explains our trade idea on buying XAUUSD today. Below you will find some details about the trade. XAUUSD BUY ENTRY 1653.214 /// MODERATE 10% SL 1637.737 > MAKE TRAILING SL TP 1 - 1688.300 ( pips 3549 / RR 2.4 ) TP 2 - 1699.440 ( pips 4643 / RR 3.1 ) On the 1H chart we have a bullish continuation whcih is supported by a low RSI and a breakout, but we need to move above the EMA on 1H. On 4H we had a retest of the DC middle level and we achieved a massive reversal candle indicating that the bulls might be coming soon.
OANDA:XAUUSDLong
by PrimedGroup
London Watchlist: Shorting USDCHF for nowThe London session is in full force and the only solid trade setup we are trading today is USDCHF. TRADE DETAILS ENTRY 0.98389 SL 0.98523 ( pips 14.2 ) TP 0.97870 ( pips 51.1 ) The RR is a solid 3.6 because the SL is pretty tight. I will look to move to break even and add on 5 pips after 20 pips in profit. Then Might re-think my TP as the contraction is pretty big on the 4H chart, but is supported by a minor one on the 1H. As soon on the 4H chart (right) we have plenty of resistance levels (3) which all acted as either strong supports or resistances the last time price came up to this level! It's important to note that the EMA has not been breached yet on the 4H, its acting as a support still.
Short
by PrimedGroup
9
London Watchlist: A high probability of a breakout on the DAX!Hey hey traders and wannabe traders! The London trading session is in full force and the markets are already moving! In the video we explain plenty of info about the Coronavirus and the current developments but don't go into the probabilities much, we did that with our community already! This video is all about our trading tactic/analysis on the DAX! Right now the DAX is showing more excellent signs that a bearish move is probably on the cards in the upcoming 8 hours or so... we remain short here and really believe with strong conviction that the bears will be able to take control with as we have technicals, fundamentals and sentimentals supporting a weaker DAX! On the technical side, the charts explain it all, on the fundamental the German GDP data was bad and the EC (European Commission) downgraded the outlook for the European economy and on the sentimental... well, the Coronavirus! All in all this looks like a pretty decent short positon but like anything in the markets, it's not 100% so make sure you have your exit area! Since the US markets are closed we will not do a New York watchlist later today... so see you tomorrow again for the London open, if we do find any interesting trades to take we will release them if we find the time to do so! Give us a follow and we'll make sure to keep you educated with specific info and solid trade setups!
OANDA:DE30EURShort
by PrimedGroup
New York Watchlist: Expecting a weak USD & Buying GBPUSDHey traders and good people of the internet! The New York trading session is fast approaching and before we get going to trade it, here's what we believe might be a big mover in the FX markets... thats right we are long on GBPUSD again! Before we go into the GBPUSD setup... lets talk DXY a little bit. We have been waiting for a reversal on the USD for a few days now... maybe a week. This contraction just keeps going up and up... but it looks like it is coming to it's end which means a sharp weakness of the USD! The chart on the left shows exactly what we think might happen there! Regarding GBPUSD we have a beautiful CUP AND HANDLE bullish chart pattern which is really ready to go up based on the test of the 61.8% (the way we use fibs). In anycase we can't wait to see if this all works out!
Long
by PrimedGroup
29000 COULD BE THE MOST IMPORTANT NUMBER IN THE WORLD!Get ready! There are only two directions for price; UP or DOWN. In this screencast I show why the zone around 29000 could be the most important. See the broadening wedge. Price could go either way. If you believe that the FED and Mr Trump is gonna save the world, go long at 29000. If you believe a crash is coming take a short. If you believe 29 is a prime number of importance - act on it. :) Friday is not a good day for a crash. So if one has to happen it's better on a Monday. Hmmmm.. crash? What am I talking about!? Some may have heard about that a plane was brought down allegedly by Iranian missiles. This is in the news. American forces tracked a missile from Iran exploding near the location of the plane. An explosion was seen by the military. Remnants of a missile identified as Russian Tor M1 photographed near the crash site. Mysteriously, the supposed missile disappeared and then we're told it was never there. Obviously - it was photoshopped in - innit! I believe anything I'm told - right? Boeing shares rose on news that it was probably a missile that brought down the plane. Nothing surprising there. Anyways, Friday is not a good day for confirming that it was a missile (and I'm not saying it was). Monday - watch out. Disclaimers & Declarations: I've reported only information that is well in the public domain. I do not have any information other than reported facts. I have no way of knowing what reported facts in the media are the whole truth. I have made no political statements. References to Iran are part of what is in the public domain. I express no opinions other than what these matters mean for the markets. As usual this is not a recommendation to trade securities. If you lose our money, kindly sue yourself.
FOREXCOM:US30
by Captain_Walker
WHEN MARKETS GO WILD! The DJI, S&P500, Australia200 and the DAX all went wild today. No predictions in here. This is just the big picture of the daily time frame. I have to say that I am totally surprised by the DJI pump north. This markets is highly overvalued something like 17-19 times that of fair value for stocks comprising it. I won't go on much longer about that, we've seen markets go wild before e.g. dotcom bubble. Theory of curves and rising wedges failed here. These things do no rule markets. The FED has given the implicit guarantee, and the big boys took the markets well north. There's QE4 and soon QE5 coming up. So north is now the greater probability. I'm out because this is a highly unstable situation. Oh - but it's not QE because the FED says so - riggggghhtt! LOL. The POP is coming - and everybody wants to know when. Look, it's like bad weather. You can see the storm clouds gathering but you just don't know when the heavens will open on you with a downpour.
FOREXCOM:US30
by Captain_Walker
Momemtum shifting in AUDJPY - Buying dipsFX:AUDJPY , OANDA:AUDJPY , FOREXCOM:AUDJPY , SAXO:AUDJPY AUDJPY is potentially setting up for a corrective move higher over the short to medium term. Weekly: The price has fallen to a significant 61.8% Fibonacci support level. This has held on several occasions dating back to 2009, below here there have been a few reaction lows towards 71.94. There are some early indications that this level is once again going to attract buying interest. Daily: The price has broken up from a wedge pattern, having held support at a 61.8% Fibonacci level at 74.45. The hammer candle posted on the 18th of June 2019 was the first sign of a shift in sentiment. 4H: The price has broken higher from a triangle pattern to complete a small bottom pattern. Price could extend to 75.40 in the short term. Over the medium term, we think a larger correction towards 77.30 could be seen. Trade idea Buy AUDJPY on a retest of 74.75-74.80. Stop loss at 74.35 Target 77.30 Good Luck!
Long
by Signal_Centre
DJI (Wall Street) - an important decision point.The chart shows either a wedge (broadening descending) or a parallel channel. It is important because the former more times than not is an indication of probable reversal northward. The latter (the channel) creates more probability for the south. As many will know much of the volatility in the last few days has been related to the US-China trade talks and uncertainties arising. Mr Trump has threatened (and part implemented) a new wave of tariffs on Friday 10th May 2019. The price action was actually crazy on 10 - 15 min time frames. Price collapsed to around 25500 and suddenly reversed when the Chinese gave some positive word on outcomes. That word was nothing great. This market is on a knife edge. It's amusing as it is amazing how 'sentiment' about this trade deal (comprised of hope, greed and fear), rules this market. The possible patterns shown highlight some of the difficulties in trading. What appears to be a channel could become a wedge. The projections are speculative. Disclaimer : This post makes no recommendation about direction of trading. My personal position is short which is not an encouragement to short this market. Your losses are entirely your own should you make decisions based on this technical picture.
FOREXCOM:US30Short
by Captain_Walker