Chevron Corp -
Breakout to $133 or breakdown to $103?
The price likely has a bullish trait as support awaits at approx $115.
I favour the bullish movement upwards right now as the upwards trending (green dotted) support line awaits price. However, as always, wait for price action to form to provoke your next trade move here.
Enjoy your weekend and have a great...
On the 15 minute chart, we can begin a conservative long from 1.25865 - 1.26247 (Trade A). For the more aggressive trader, 1.25865 to 1.26580 (Trade B) is the option - or why not try both?
*1.25865 (approx) is also current support*
With the average true range of 0.00059 taken into account, S.L. for the respective trades are at:
This is a nice wee overview/set-up on the daily chart for CADJPY pair.
Once we reach the zone of 84.534 - 84.970, it is expected that the price will fall, and we can start to look for an entry trigger to go short. We look to 82.821 as a conservative short and to 79.434 for a more aggressive swing trade short.
Enjoy your Friday trading, and the weekend that...
So here we have a EURGBP daily set-up.
In the likelihood that we bounce back down to approx 0.83085, we take the opportunity (if it arises) to buy up to 0.90187 approx.
Embrace your trading lifestyle and I wish you many successes.
All comments welcome.
Resistance on the Baker-Hughes daily chart is hit.
Both MACD & RSI are both overbought so we go for a definite short as there is a good engulfing bearish red candle on the 4 hour chart for an entry reason.
Success & Good luck. Enjoy your trading day.
Comments always welcome.
Adobe looks in great shape to short on the 4 hour (or daily chart) - just wait for a solid and simple entry reason as all the confirmations (so far) for a good short are apparent.
As always I wish you success, happiness & good luck!
Comments always welcome.
As Alibaba [BABA}, (currently in an uptrend), enters its 52 week high, and RSI & MACD are overbought, the time could be right to either:
A) buy the dip at support (aggressive trade) or at resistance (a more accommodating trade) at the levels shown.
B) for those most adventurous - an aggressive short is likely to 193 (approx) then wait to buy back the dip...
WITH SONOS AT A 52 WEEK HIGH AND HITTING RESISTANCE, WE ANTICIPATE A SHORT TRADE IS VERY POSSIBLE. WE GO SHORT FROM 15.72 TO 12.74
S.L. IS AT 17.01
R/R IS 2.31
ENJOY SUCCESS IN YOUR TRADING,
ALL COMMENTS ARE WELCOME.
RISKING A SHORT WHILE XAU/USD IS IN AN EVER BULLISH UPTREND. THIS TRADE IS QUITE RISKY AS WE ARE GOING AGAINST THE TREND, BUT IT COULD BE WORTH A PUNT AS THE MACD & RSI ARE IN OVERBOUGHT TERRITORY AND GOLD SEEMS TO BE COOLING OFF AFTER THE HOLIDAYS.
THE ANGLE THEN IS TO THEN BUY BACK INTO THE MARKET AFTER THE PRICE FALLS (TO SUPPORT AND/OR TO THE EMA50).
AFTER SEEING A DOUBLE BOTTOM ON THE AUD/NZD (1HR CHART), AND THE NEAR COMPLETE AB=CD PATTERN, ON THE DAILY CHART, IT IS LIKELY THAT THE AUD/NZD COULD REVERT TO AN UPTREND. THEREFORE WE SHOULD CONSIDER A (MEDIUM TERM) LONG.
TAKE PROFIT AT APPROX $1.06680
STOP LOSS AT APPROX $1.03461
I WELCOME YOUR COMMENTS. GOOD LUCK & HAPPY TRADING!
ENTERING THE FINAL LEG IN A DESCENDING TRIANGLE, SELL FROM APPROXIMATELY $109.700 - $105.700.
THERE IS ALSO A LIKELY SCENARIO OF A FURTHER SHORT WITH A BREAKDOWN A HIGH PROBABILITY.
I WILL REVISIT THIS SCENARIO AS AND WHEN (OR IF) IT HAPPENS.
AS ALWAYS, YOUR FEEDBACK IS VERY WELCOME. GOOD LUCK & HAPPY TRADING!
TECHNICAL ANALYSIS FOR DXY (USD FUTURES INDEX)
1) AS SOON AS DXY HITS THE HIGH (AROUND $100.400) IT LOOK LIKELY TO BREAKDOWN UNDER THE CURRENT UPTREND AND REVERT TO A DOWNTREND.
2) WE COULD EXPECT ANOTHER WAVE UP TO THE HIGH INITIALLY - BUT IF WE DONT, PREPARE TO SELL (WITH REASON) ON THE DAILY OR A LOWER TIME FRAME.
3) THERE ARE SEVERAL SUPPOR AREAS WHICH MUST...