Well most of you who have been friends with me or have followed me for quite some time now have noticed what the basis of my trading revolves around. Yes I use basic trading tools like moving averages & buy/sell volume, but the concrete mortar behind my trading is getting long/short into medium / long term trends. Time and time, I always look for the same setups...
This is just another potential after earnings trade on my watchlist. Pretty simple and straightforward, lets see if earnings whether they are good / bad can push price down to support in the days after they post. If we make a push down to support I will be on a Daily chart to wait for confirmation to enter long. This is not a trade that I'm logging, just a...
Well the chart is pretty straight forward, what I'm looking for is hopefully a miss on earnings in order to get in around the 174.00 area which is the lower support area of the current distribution channel that has formed on TWC. It all depends on the price action during earnings day & the day after that will ultimately drive me to make a decision on making a...
Hey how's it going traders, well its that time of the year again to go long USDMXN. Stop loss is below the 100 Moving Average (Support); Stop loss order is the red horizontal line. 1st target is 16.6880 for a roughly 1:1/1.2 R/R . 2nd Target is at the top of support at the 17.2000 level (marked by a green horizontal line). Note: There is negative long swap on...
Hello traders well as you can see here the gold miners etf has retraced back up to multiple forms of resistance. Resistance has formed in the form of the 50 Moving Average, previous support turned resistance which of course is also a critical Fibonacci retracement level, and the multi-month descending trend-line. Also, price formed a doji / hanging man (Whatever...
Well traders we have another classic previous resistance turned support on our hands. The weekly doji shows indecision, buyers entering the market, short sellers taking their profits, and of course late to the party short sellers selling the bottom (potentially, I can always be wrong). Also we have the ascending trend-line which has also held as support and price...
Well for those who don't know what a triangle breakout pattern is then just google it and it'll bring it up. But the way to trade it is that when you spot a pattern breakout as such that you measure the height of the triangle, clone it, and measure the distance from the high point of the original triangle pattern and wherever the high point of the cloned...
Hello traders, well the reasoning for the trade is the break & intra-day retest of yesterdays support outlined by the blue horizontal trendline. The first target for the trade is the 16.65 level, 2nd target is the 16.35 level. All moving averages (20,50,100,200) have gone flat confirming this as an area of distribution / price range. Cheers and GL =)
Hello traders, I'm slowly going to be getting more active in FX once again. Well to start out with this pair has been one of the best defined trends I have ever traded. And the area I'm looking to get long at at previous resistance turned support around the 12.4800 area. Stops will be placed around the 12.0000 area marked by the red line. The trade targets are...
Well this is just a simple tech analysis chart. Not a trade suggestion or log. I still believe that this market can make new highs if not this year then the next. Throughout my experience, short sellers of a general bull trend usually tend to get squeezed out of trades in spectacular fashion and their rejoice is usually short lived. So even though mainstream...
Unfortunately I wasn't able to post about this trade when I took it the previous week but I had initially entered a short position in AAPL via weekly put options around the 101.00 area, after I entered I had realized the mistake I had made based off of greed. So I started looking for a way to turn the unfortunate position I had put myself into, into a new...
I saw this way of color coding resistance / support on another trader's chart and thought it looked pretty cool in defining resistance turned new support. Also, we've experienced quite a correction / pullback in the equity market so for me personally if I'm buying dips, I'm buying strength for the most part with a little left to more volatile stocks. Interesting...
Hello everybody well this is a short I entered at the NY close on Monday. It was an aggressive entry, so if price broke above 130.00 than I was cutting the trade off at a loss. But as of today it seems as if price will continue to respect the bearish channel that price has been travelling within. My short target is roughly around the 100.00 area which should be...
Well this isn't such a well favored R/R ratio but I am still taking the short due to the strength of the bearish trend in this stock. Which makes up for the unfavorable R/R in the trade. Depending on D1 Chart price action I will be slowly trailing the stops down, thus eventually making R/R a lot more favorable. Price targets are at the next weekly support area....
Well as you all know I'm in Disney... Been in the trade to the long side for a while now, and I just wanted to keep you guys updated on the trade. Price Pattern 1: Ascending Triangle (Bullish) - We have a potential ascending triangle forming for a break above 105.00 - If we get a break above 105 the next level of resistance is 107.60 Price Pattern 2: Bear...
Well as I'm getting to go to sleep I happen to check out crude price action on my phone and notice something very interesting. It seems as we have a potential descending triangle pattern developing in crude. New traders may be wondering what this may mean (if your a more novice trader you shouldn't be trading any commodities IMO lol but if you are well idk what to...
Ignoring fundamentals, the dollar seems to be forming a descending triangle on the W1 chart. What does this technical pattern mean? Well in simplest form what it shows is buyers forming a base at the support around the 92.50 area...but every time bulls try to bid price higher they are met by sellers that are increasing in strength, thus forming the descending...
Well at the end of the week I always analyse the weekly charts, especially longer term trades I have open. And as you already know I am long DIS. What I've outlined in the chart is the huge bullish weekly candle that formed at previous support (which is evident from the previous weekly impulsive wave higher that started the move up to the 120.00 area). So in other...