Easy, big-picture setups.
Not much to say other then SELL the HI (Red), BUY the LO (Green).
Target the TOP or BOTTOM of the NEUTRAL zone (Grey).
With proper execution and risk mgmt, would expect a min. 200+ point trade out of that area.
My previous posting has both shorter-term lower targets hit.
The bigger picture:
With the FOMC announcement testing and breaking those limits (not by much), this is proving that last target (7815) area was significant, but could see a NEW LO (7750 area) before a new push back up to meet NEW HI's at the 8100 -8250 area.
Once there, would be looking for...
I'm focusing on the larger down move that can occur at this point:
An area (red) that I will look to trade short in, between 8015 and 7980 with 2 targets in mind
7930 and 7815 (green)
However, if there happens to be a move down at this week's open, I have a level it bounces from at 7910 (yellow). Targeting the SELL area above it.
Something I came across that normally would result in the suggested move...
Selling $175 with a move towards the previous pivot LO with possible continuation towards a gap close.
This would capture a nice 15%+ move.
Continuing with my previous plan (The GAP), this stock is still going to make attempts at $50.
Here are some places where I am looking for a reload of either a shorter term play and/or more of a positional play, IF, the move doesn't just continue down to the original target LO of $50.
As much as I do not follow text book setups, sometimes they do match up...
Although there will be a counter move somewhere/some time against this recent push up, I'm more willing to be a buyer on weakness into the GREEN zone shown -- just as long as price doesn't cross over 7650/7700 beforehand. Should that happen, then retrace entries get tricky for me.
Overall, I still expect price to move up to First Target (7650), Second Target...
It may seem obvious to many that this scenario might play out...buying the LO of the range and selling the top. Although, this time, I interpret the recent action to show that we will make NEW HI's towards 150....even if we still see a bump downward from 149.xx to perhaps 147, before a continued climb.
I will be buying 144.50 area and taking off at 149....
Previously suggested that crude oil would see $38 when we saw price slide in Q4 '18.
I still anticipate this happening especially after this false rally up to $63 or even another push up to $68.
Anything above $69/70, tells me the LO's are in and I would revise the forecast. In other words, we stay under $69/70 and I would expect to see sub-$40 oil.
Continuing with the IPO week for LYFT, here are a couple of new scenarios that may play out ...
Its my belief based on the chart / price action, that this recent LO will determine what happens at the GAP, should price reach it:
A. The current LO is in place, then a revisit to the GAP (and fill) may show as a pivotal resistance point, temporarily. And...
After 1 day of trading, here is a forecast of potential trading action moving forward.
If LYFT catches a bid on its second day of trading, I'd expect a run to test IPO day HI and trap BULLS before a move lower to 70/69.
Otherwise, selling continues down to 69 or lower with any retraces only acting as stall points - 20%+ down from its HI's.
NQ1! Not one to BUY breakouts, but they do occur so its really a matter of when one should trade it.
The chart is pretty simple with the initial BUY point I'm looking at for the open/new week with potential for moves up as the breakout - STOP is approx 20 points. Great R:R.
If price moves lower, there are areas where better BUY's could present themselves....
I've not looked at GBPJPY in quite some time as I've been more active in the futures market.
After a quick review of the chart, I am prepping for a short play at the market open or through last week's close (147.70ish) for a target of at least 100 pips near the 146.50 price line.
Stop is just thru the 148.00 handle. Overall I interpret the chart for moves much,...
Previous trade at 7110 (short) for targeted 40 pts was hit with minimal pt draw down. In fact the move ended up going 80+ pts.
Next setup I'm monitoring, should price get down there, will be at 6950 (long) for a targeted 40 pts - with potential for 80 pts.
There might even be a potential reversal at 7000/6990 that could be worth something. However, If price...
NQ1! -- Here are two potential daily/weekly setups where I may look for at least a 40 pt profit. Both LONG (from 6950) or SHORT (from 7110).
Unless price action dictates otherwise (example: longer duration of a narrow range), this is how I currently see probable setups for my own personal trading.
This may not suit your style so please trade according to your...
NQ1! - Plenty of opportunity to capture points up and down. However, if your bias is to the upside, here is how it may end up playing out. In my opinion, what will be a last leg up before new LO's.
Yellow lines are areas of targets for resistance and support (as high as 6870). We may have already seen the support (6245) for higher moves put in on Friday,...
Previous target level / area was achieved.
This weeks plan:
Expecting the base of last weeks LO's to hold and make moves upwards towards the area between 144.10 and 144.50. All depending on if 143.00 or higher can act as support.
With the momentum needed for this move up, there may even be enough to reach the 146.00 level (Bonus).
Million Dollar Tip: If you're...
Ahead of the opening Sunday night, here is my trade plan for the week: Most trades will be to the short side and may present multiple opportunities, yielding potential for 200 or more pips!
For this week. I'm looking for a move back up into the large yellow zone, where depending on price's movement, will effect a trade; could be at the open, could be later on....