Potential tactical trade on the long side setting on NZDJPY. 2 levels of demand - a weaker and a stronger. Scaling in to the trade if price reaches first demand level and then adding the remaining position if prices reaches the strong area of demand. Looking for a 5.6:1 reward to risk to the fisrt level of supply around 71.4´ish
This month our monthly scorecard is +2 (suggesting a buy). Over the last 2 months we have been bearish and this month we do have a directional shift in fundamentals. This way we will be looking for opportunities in the buy side. At first glance the daily TF suggests a consolidation triangle projecting an AB=CD pattern with TP around $60. Let´s see if this holds....
Potential nice little trade here on IIPR ( a pot stock ) offering as much as 1:2 R
A false break of a triangle pattern and price currently seats on the last support forming an IB day candle. A sell stop below the mother candle should do the job. Target arounf 12.05
Being very conservative here with the SL.
Looks like pot is not so high
Teaching retail traders to...
2 Head and Shoulders pattern formation setting up on BTCUSD. A minor and a major. In case you didn´t notice, the H&S pattern formation is common for this commoditie. Yes, you read it well. You should trade Bitcoin or any other Crypto as a commoditie. And this commoditie basket (cryptos) have been performing extremely well against the "standart" ones. Still as the...
If you´ve been looking around the U.S. banking sector you got to be depressed. Not one decent long setup. Sadly is that many of U.S. banks stocks are at a great discount at the moment. However they can get even much cheaper! So insted of going short in the majory of individual bank stocks i picked the KBE ETF. Could be XLF also. And the weekly TF presents a great...
Potential bearish setup for bitcoin. Daily bearish RSI divergence with tweeked h&s and inside bar consolidation pattern. A break to the downside of the inside bar offers a +3:1 R
Not a crypto trader myself but could not ignore the technical setup formation
Cable has been in an uptrend since price bottom out last year. This week we had a break to new highs and yesterday we retested that breakout.
I know see the possibility for a trend continuation to the 61.8 fib retracement measured from the swing high ( Brexit candle on the daily chart) to the low (daily chart).
A potential trade for months to come
After a rally to a key level of resistence price formed a head & shoulders pattern.
I´m selling the pair at current level(s)
As targets we have an intermediate target (TP1) and for prime target we aim to the origin of the current rally that formed the H&S pattern
After a fantastic run over the past months, OIL has now come into an area of strong resistence (Weekly chart).
A potential sell opportunity for this commodity in the months to come.
As first target, 55.80 is a strong support. However this "ride" will take us further down into the 52.00 USD per barrel
I´ll place a sell limit order at 58.32 ( actually at 58,29 front...
After a rally this pair is now at a previous level of resistence. More info at the chart, however what i’m looking is a sell opportunity on the grey area (Potential reversal zone), to short.
I’ll wait for some PA to develop either on a 240 or 60 chart. My first TP is the daily 21 ema were I'll close 2/3 of the position. I’ll then reevaluate the momentum to sell...
After an initial rejection at higher leve(s)l, price is now at a price were the risk to reward for the downside is at least 3:1
I´m looking at current PA on the 240 and 60m chart to start selling this pair
Another trade setup i´m looking at is to sell the EURNZD.
The COT reading clearly favours the commercials and the ratio divergency against the non commercials (speculators) is good so the sentiment supports a possible high and a rotation to the downside.
At least 480 pips to target 1.
Price setup on the chart
Trade safe, at your own risk and manage your trade...
Carefully looking around at all pairs and it looks like that risk has been taken out the last weeks/months. Started with proxy Fx pairs and later with the commodity pairs now it becomes clear that the stronger pairs are ready to go for the major turn as well.
I posted last week my ideia to sell the GBPCHF wich is currently trading in our favour and now i´ll be...