MRobertsTrading

MRobertsTrading

AUDUSD looking great for a long setup. Not the best risk:reward ratio on this one, but a great setup. Let's take a look. First, let's start with the AUDUSD chart on the daily timeframe. Price has stayed in this relatively small channel for the past couple of months quite nicely. We've taken a bounce near the bottom, with a strong bullish candle. Furthermore,...

MRobertsTrading

As many of you already know, I've been bullish on HITI for quite some time, waiting for the right entry. This is one of my favorite cannabis stocks, and I'm bullish the cannabis sector overall. This may not be a quick play; I'm expecting to hold my cannabis stocks for quite some time. On the daily chart, HITI made some lower lows, while the RSI made higher...

MRobertsTrading Updated 

If you follow me on various social media, you know I have been long in general on the NZD. However, we have a super solid short entry here. Let's take a look. On the 4H chart, we can see a trend line that has held for a few months, since March 21st. This is a relatively solid trend line, as it has been respected 5 times. A few days ago we firmly broke that trend...

MRobertsTrading

Oh Pelaton. What a ride you had :) This stock started last year (2020) at around $27 a share, rising up to $170 just 12 months later. It's time for a correction. And, although I'm not a fundamental expert/trader, I believe there's a case to be made here. First, let's look at the charts. Technical Basis - Daily Chart Let's start with the Daily chart. There are...

MRobertsTrading Updated 

AUDCAD is resting in the previous support zone of 0.9518-0.9536. After breaking quickly through this zone by slightly over 60 pips, price slowly made its way back. The 4H chart shows a downward bias as the 20, 50, and 200 period MAs are crossing down. Furthermore, price is resting right at 20 period MA, a great place for a potential reversal downward. I was...

MRobertsTrading Updated 

Looking at NZDCAD for a short here. Entered at 0.90687 with a stop above the swing on 1H chart at 0.9116. Targeting 0.89185, with TP1 at 0.9022. Here's why I'm taking this trade.... Price is bouncing off the 50 period SMA on the 4h chart. On the 1H chart, we can see price bouncing off the 200 period SMA.

MRobertsTrading Updated 

This is a bit of a risky trade I am taking as price has boucned at this support line several times in recent months, but the risk:reward is there. Entering short at 116.37 on an inverted cup and handle. Setting stop above the handle at 116.88, and setting the limit down at 114.88. The height of the cup is about 150 pips, so that's where I will be aiming. Will...

MRobertsTrading

I posted recently about looking for a short on the GBP due to price reaching a resistance zone. Additionally, the Australian Dollar has regained some strength. Looking at the 4H GBPAUD chart, we can see price has broken out of a trend channel going back to January 8th. On the 1H chart, there are two wicks that have retested the bottom of the trend channel....

MRobertsTrading Updated 

The Swiss Franc basket is at a key level. Since the COVID-19 peak in March, the CHF has been forming a solid descending wedge. Price has not broken below the 1.195-1.205 zone, although it has been tested. This zone was a pre-pandemic resistance, and has since acted as a support for the Swissie. Currently, price is resting at 1.20255, within this zone. The...

MRobertsTrading Updated 

The GBP has been strong for the past couple of weeks. Manufacturing was up last week, earnings were up, and unemployment was slowly shrinking. The vaccine rollout in the UK has gone relatively smoothly in comparison to other major economies, so there's a case for recovery and a strong GBP fundamentally. However, the Pound basket has an existing resistance around...

MRobertsTrading Updated 

The AUD basket has completed a nice pullback to the existing trendline off of the March and October swing lows on the Daily chart. The Aussie Dollar also bounced here at the 50 day SMA. There's a little bit of room to the previous high, and I expect the next area of resistance to be in the 0.8 area. Looking at this chart, I will be looking for a long opportunity...