After taking profit at 72 and 70 on our recent short I'm now actively looking to go long from 70.80 so I have to wait for a pull back before entry.
Although it has been a bank holiday I still feel the outside bar is valid, showing strong rejection from the lower BB.
I've spotted some possible weakness on the Dow.
Price has formed a double top on the daily charts and a bearish outside bar has formed at the top of the Bollinger bands.
I think we could see some short term weakness towards 26000 where price will meet resistance. The weekly is also looking bearish which could push price down to 23-24k depending on short term...
Looking to short GBPUSD from 1.30600. Price is currently below this so waiting for a pull back to this price.
RIS overbought, price at the top of the Bollinger bands and an outside bar has formed on US data.
TP at 1.29000
SL at 1.31200
Now short on EURUSD following a strong run up over the last couple of days.
Price has stalled at the .5 daily fib with an outside bar forming at the top of the Bollinger bands and the RSI in the high 90's.
Looking at a quick long on EURUSD.
Usually I'd let price retrace into the outside bar but as it pulled back towards the end of the trading day I'll be looking to buy on the open.
First TP: 1.1200
Second TP: 1.1250
Looking at a short on the UK100 weekly. We have an outside bar towards the top of the Bollinger bands. Not quite as high as id like but still worth a trade. We could see a pull back to 7500 before we see more downside.
I'll be risking 1.5% due to the fact it doesn't hit all my trading criteria.
Entry at 7470
Stop at 7600
I didn't get a chance to post this short on here as I didn't have my laptop with me last night, however, I did post it on instagram @ /FollowMyTrades
Currently short from 74.10
TP1 - 72
TP2 - 70.2
Short due to outside day bar from top of Bollinger band and RSI (2) overbought.
A simple trading strategy.
Here we have a stripped back version of my trading strategy.
I simply use outside bars to indicate momentum and turning points in the market.
The first highlighted bar from April 2018 shows an outside bar completely engulfing the previous weeks price action. From here the market moves over 400 pips north.
The second highlighted bar...
USDCAD is sitting in tight trading range at the moment. We have strong support at 1.3300 which has held strong for many weeks now.
If we zoom out on the daily we can see various touches on the ascending trend line.
Soon price could intersect at the support and ascending trend at 1.3300. I'll be looking for a decisive move north from the 1.3300 area looking to...
Currently short EURUSD from Nov 20th at 1.14100
Looking at another short position from 1.1370 and another position on the close of todays candle as we can see rejection from the upper Bollinger band and a strong outside day bar.
I believe we will see some buying pressure at 25k and possibly push through 27k before the year is out. The weekly chart is showing an outside day bar from the lower Bollinger band.
I'll have my stops just below 23900.
Buy order at 25k.
Looking at a potential short on EURUSD weekly.
Outside day bar from top of the Bollinger bands. RSI not quite as high as I would like but still in the 90s.
Entry on break of last weeks low or a pullback to depends what comes first: 1.16700
TP 1: 1.1450
TP 2: 1.1200