Dow30 immediate trend is down. However, support is found at 24745. There are 3 resistance level which you can place your shorts. R1 : 25320 R2: 25783 R3: 25990 Take your trades with short term perspective in mind. Wait for bearish candle to show up at these resistance levels before taking the shorts. Visit my Patreon for more forex and trading educational articles.
Double bottom is seen. Once the resistance at 21550 is broken, a recovery towards 22050 and 22400 is high possible. However, this is still a counter trend trade, thus take profits once the target are hit. Have a good week everyone.
Currently at support level of 1.735-1.747. Stop loss can be below 1.7300 (recommended). Wait for a bullish candle first to enter.
USDCHF is now back at resistance level. Pin bars are starting to formed showing that supply is coming in. A short set-up is possible but ensure your stop loss is not too tight. All the best!
On a large time frame. Roche is on a steady uptrend. Currently it is at the support which brings in very good opportunity for a buy in for Long term holdings (20years)
Pretty self explanatory from the chart. There are 2 long set-ups 1) Wait for current price to retrace to 1180 before placing a long OR 2) Wait for price to breakout above 1223 and then buy the Retest. Currently it is still a counter trend trade so don't over expose yourself!
The dollar index shows sign out topping out and consolidation at the top. We will most likely be seeing dollar dropping against other pairs.
Weakness is seen in Dow30 with the lurking threat of inflation. Any retracement upward is a good opportunity got shorting. Stop loss should be somewhere around 27000. 26000 would be a nice target.
POI of gold is 1190-1196. From the chart you can see that the price have a biasness above the POI. We can safely assume that demand is present, and price will heads up in the future again (as long as the demand is still present). Thus going long is a better option than short. You will want to place your SL at the POD line, the price which is rarely visited thus...
EURNZD have broken out of a very long consolidation zone of 1.715-1.725. It seems to be attempting to push thru the current resistance at 1.744 level. Upside is highly likely!
At current level, USDJPY could swing down. However it could up to the next level of resistance which is at 112.99. Thus the reason for a wider stop loss. Alternatively, you could wait for price to retrace to 112.17 before shorting. Overall chart pattern is showing some form of weakness us USD but it might take a while to play out. All the best peeps!!
Many times trader likes to play tight range but inevitably get caught by fake breakouts. What they do not realized is that the range they are trying to trade in is the consolidation phase. Consolidation phase in general is MEANT TO whipped out weak holders before the real move happen! This is why traders always get stopped out AND THEN the trade goes in their...
EURUSD have been in range for a while. Right now we are heading back to swing low near 1.153-1.150. This give us an opportunity for a long set-up. SL definitely should be below the swing low. You need not take the long trade right now and wait for price to go lower for a lower risk. Target point is somewhere near previous support (which was broken) at...
On a Daily Time frame, USDCAD is definitely on the downtrend. Major support is at 1.286 where we might be able to see a longer term reversal. However, before price heads to 1.286, it could do a short term rebound to 1.314 first. Thus there are 3 trading set up we can consider for USDCAD. Option 1 : We assume price will head to 1.286 without rebounding to 1.314....
While it is perfectly clear EURAUD have broken down the support on 4H and Daily timeframe, if you were to ask around where exactly is the support, you will probably get different answers. Some might say 1.565, some would say 1.570. There is no right or wrong. If you feel support is at 1.565, then your trade-setup will be base around that price and you will set...
TSLA rallies up 15% on Thursday despite being the MOST shorted stock on NASDAQ. Short sells report shows that the short sellers are still holding on to their paper loss. Currently about 25% of TSLA float are shorts. It is nice to play with the idea that if those 25% starts to cover their shorts, it could cause TSLA to go up sky high to beyond $400. While that is...
Support around 0.733 at previous swing low is holding up quite well. You can tell by various weekly candle with huge lower tail which indicates that there's buying support. With that said, there is a good long setup trade setup for price to rebound towards 0.757-0.769. From the current price of 0.740, this give us a potential profit of 160-288pips. Stop should be...
DOW30 is approaching resistance level 25440 with decreasing volume. Bulls are testing the resistance zone to see if any bears show up.So wait for bearish candles to show up first before taking any short position. Price might break through the previous swing level at 25440 to lure in break-out traders before swinging back down. Thus SL is set slightly higher at...