Price broke out of a resistance level, creating a textbook cup and handle breakout. If we use the dept of the cup as a target from the resistance level and most recent structure low as a stop, we have a good trade on our hand with an excellent reward to risk ratio.
Don't forget, this stock has a current dividend yield of about 1.75%.
Good luck :)
Price is approaching a resistance level that coincides with 61.8% retracement of the previous bearish leg. This pair may provide a good Reward to Risk long term short trading opportunity during the next few days..
As can be seen, the pair made a double top. If you collapse the chart further or switch to a weekly chart, you will see that this level has been respected many times in the past so I am expecting some sort of reaction at this level.
I'd wait for the price to retrace a little before entering so as to get a better risk - reward profile. Looking for a 3 to 1 RR...
Weekly chart is bouncing of a major resistance zone. From the looks of it, seems like the price has made a double top. If the resistance holds, we may see a downward push over the next several weeks. I will be looking for a short entry setups on daily chart.
Price has reacted nicely at a level that has reacted as a support as well as a resistance zone in the past. This could provide a nice high probability short entry opportunity with a about 3 to 1 Reward to Risk.
I am hoping price would retrace a little to fill my limit order and then will drop to re-test recent low.
Price closed below a support level yesterday but immediately snapped back above it.
Looks like price has created a nice little trading range and if today's move suggest any bullishness, we could see price heading towards the resistance zone as marked on the chart.
Let's see if this holds true :)
Nice trend continuation trade is setting up in EURGBP. Price has been heading down for past few weeks and made a nice big bearish engulfing bar today. If price retraces a little, it could provide a nice risk-reward trade opportunity. Target should be around 2014 low...