1M: 50% Fib retracement, strong support, pin bar candles, etc. On the flip side, failed attempts & lack of strong bullish price action indicating bulls have taken over. 1W: A ton of volatility as bulls are trying to break out of channel. Big movements at key supply/demand zones. USDJPY is trying to breakout and take off. Support areas are getting...
1W 1W (Zoom): Last week Bull Candle. As long as this week doesn't close much lower than current price, I would favor further bullish price action and a possible retest of the double top RL. Even a 'test' of the Red SL ~ 78.65 would make that bias invalid. 1D: Conflicting price action on 1D chart. The current candle, although important to note...
Short entry. Short-term trade. Playing correction before continuation. Higher risk trade, but favorable R/R. I'm waiting for the completion of the 1H candle to determine if I will be open to adding to position or make adjustments. Price action will be the key determination for TP and SL adjustments. 1D: 1H:
I've been short. Still believe there could be further significant correction mid to long term. (See related ideas for further justification of short and long). I would not go short at this level. Side lines or long is the only option, in my opinion, at this time. I've opened a small long position. This is a higher risk trade.
I was early the first of this month expecting the correction and EG took another run up. Now their is further support of a significant correction. I'm currently short. Minor support at .8485. More significant support around .84, strong support around .83, .825 and around .816-.814. See charts below for further support of this trade. 1M: Key...
1W Current bullish price action. Correcting, possible reversal. 1st substantial resistance 118.4 -118.5 area. If that resistance area turns into a support, EURJPY could move 220 - 230 or more before facing substantial resistance. I'm long at 115.283.
1D: Clear HH/HLs indicate trending up. Close below 1.10457 would invalidate. Reached 76.4% retracement. I'm looking for a possible long entry. From my initial observations, I like the long side of this trade. EU has had a significant correction. I expect it to break out and EU could make a significant run.
This is a high risk trade. EURUSD is trending up and has had a small pull back. Last peak was LH. I don't like this as a long entry point. Instead I'm trading a minor correction before continuation. If trades goes my direction, I'll reduce SL and lock in profits. Ultimately, I expect a long entry opportunity before long. 1D: For meaningful...
1M Strong support formed at 1.279 - 1.278 area. Upcoming resistance. 1W: Both 1M and 1W indicated GBPUSD reached very oversold levels due to Brexit. Bottom Line: Strong support formed. Currently consolidating. Price action on 1D is fairly bullish at the moment. In a consolidation pattern. The R/R is not favorable for a long entry at current...
Big Picture View: 1M Pinbar formed strong resistance. Expect retracement to retest broken channel TL. 1W ~ 0.812 is area is major support area to watch over next several weeks. I'm looking for EG to retest recently broken support levels. Trade Set Up: This is a higher risk trade and I expect higher vol. Because of that, I'm scaling into...
The crowd currently is on the USDCAD short bandwagon. I see a potential for a contrarian trade set up. I missed my last long entry with a limited buy order too low and never executed on 7/20. I am now watching for another opportunity to go long. Assuming reversal candle(s) on 1D or 4H chart, I'm looking to enter long, going against the crowd with TP above...
1M: Long-term DN trend (since 7/2008). Key support ~1.04624. Consolidating for more than a year (since 4/2015). Current bullish price action. Expect price to test upper consolidation area. Price has been more bullish in nature YTD. A break above 1.1600 with bullish price action would indicate a potential correction. Such a correction could last a couple...
1M: 1W: GILD continues to be under pressure. Bad news, unknowns, fear, & uncertainties. I'm not a 'value investor' and GILD's situation makes this a complex valuation. With that being said, low $70's would be compelling to me and below $70 very compelling. I hope this stock gets absolutely hammered.
1M: Overall trend/channel down. Bullish pinbar formed new strong support. This support will need to be broken for continuation. The pinbar indicates the current correction could potential retest TL resistance before testing the ~72.40 support area. 1W: Interesting 1W chart. A double top formation before TL resistance retest. BoJ may increase volatility....
I'm short at 79.805. Also have limited order at 80.68 that will expire by the end of the day.
Expecting price to retrace before going higher.
1W 1D Bullish divergence at strong resistance. Expect further push down and possible retest of ~100 support area. On 4H chart, some bearish RSI divergence (also support on MACD). Using limited sell orders to take advantage if USDJPY retest resistance.
Short term trade. I'm long @ .8390. I also have a buy limit @ .8355. Trade direction based on D chart. - Broken TL resistance followed by correction/retrace - Bullish candles/price action close to 38.2% retracement. - Favorable R/R 1D: 1H: Longer Term Look 1M: 1W: