ProSTrades

ProSTrades

Although there will be a counter move somewhere/some time against this recent push up, I'm more willing to be a buyer on weakness into the GREEN zone shown -- just as long as price doesn't cross over 7650/7700 beforehand. Should that happen, then retrace entries get tricky for me. Overall, I still expect price to move up to First Target (7650), Second Target...

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GBPjpy It may seem obvious to many that this scenario might play out...buying the LO of the range and selling the top. Although, this time, I interpret the recent action to show that we will make NEW HI's towards 150....even if we still see a bump downward from 149.xx to perhaps 147, before a continued climb. I will be buying 144.50 area and taking off at 149....

ProSTrades Updated 

Continuing with the IPO week for LYFT, here are a couple of new scenarios that may play out ... Its my belief based on the chart / price action, that this recent LO will determine what happens at the GAP, should price reach it: Either: A. The current LO is in place, then a revisit to the GAP (and fill) may show as a pivotal resistance point, temporarily. And...

ProSTrades Updated 

After 1 day of trading, here is a forecast of potential trading action moving forward. If LYFT catches a bid on its second day of trading, I'd expect a run to test IPO day HI and trap BULLS before a move lower to 70/69. Otherwise, selling continues down to 69 or lower with any retraces only acting as stall points - 20%+ down from its HI's.

ProSTrades Updated 

I've not looked at GBPJPY in quite some time as I've been more active in the futures market. After a quick review of the chart, I am prepping for a short play at the market open or through last week's close (147.70ish) for a target of at least 100 pips near the 146.50 price line. Stop is just thru the 148.00 handle. Overall I interpret the chart for moves much,...

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NQ1! Not one to BUY breakouts, but they do occur so its really a matter of when one should trade it. The chart is pretty simple with the initial BUY point I'm looking at for the open/new week with potential for moves up as the breakout - STOP is approx 20 points. Great R:R. If price moves lower, there are areas where better BUY's could present themselves....

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Previous trade at 7110 (short) for targeted 40 pts was hit with minimal pt draw down. In fact the move ended up going 80+ pts. Next setup I'm monitoring, should price get down there, will be at 6950 (long) for a targeted 40 pts - with potential for 80 pts. There might even be a potential reversal at 7000/6990 that could be worth something. However, If price...

ProSTrades Updated 

NQ1! -- Here are two potential daily/weekly setups where I may look for at least a 40 pt profit. Both LONG (from 6950) or SHORT (from 7110). Unless price action dictates otherwise (example: longer duration of a narrow range), this is how I currently see probable setups for my own personal trading. This may not suit your style so please trade according to your...

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Here is an area where I foresee a reversal of this week's price action. If the first area of 6560-6640 does not hold then can see further move up to the 6880 - 6900 level.

ProSTrades Updated 

NQ1! - Plenty of opportunity to capture points up and down. However, if your bias is to the upside, here is how it may end up playing out. In my opinion, what will be a last leg up before new LO's. Yellow lines are areas of targets for resistance and support (as high as 6870). We may have already seen the support (6245) for higher moves put in on Friday,...

ProSTrades Updated 

Previous target level / area was achieved. This weeks plan: Expecting the base of last weeks LO's to hold and make moves upwards towards the area between 144.10 and 144.50. All depending on if 143.00 or higher can act as support. With the momentum needed for this move up, there may even be enough to reach the 146.00 level (Bonus). Million Dollar Tip: If you're...

ProSTrades Updated 

Ahead of the opening Sunday night, here is my trade plan for the week: Most trades will be to the short side and may present multiple opportunities, yielding potential for 200 or more pips! For this week. I'm looking for a move back up into the large yellow zone, where depending on price's movement, will effect a trade; could be at the open, could be later on....

ProSTrades Updated 

Two trades I'm eyeing for this new week... The LONG: I'm currently in this position from Friday - one at 145.00 and added at 144.80. Targeting 146.00 Then will flip that... The SHORT: Will enter in and around the 146.00 levels, targeting 144.00 and slightly under. I'll reassess once these moves take place or look for clues that would negate this plan....

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Updated chart from previous idea on 10-27-18 (see related idea) Until specific price movements tell me otherwise, I still remain with the upside bias of eventually getting to 7500...and 7800! RED bands formed the base of this move; now unless there is some strong catalyst to provoke price in a straight move up, I'm focusing on the YELLOW zones for support and...

ProSTrades Updated 

NQ1! Here are several zones, levels, and projections of where I'm looking for price action to occur over the coming week(s). There is 'some' confirmation for me to believe that we just saw the bottom put in place (for now) with potential to reach new all time HIs. Within each zone or level, am using other price action confirmations before entry (usually double...

ProSTrades Updated 

FOREXCOM:GBPJPY -0.11% Been in a range the past 3+ weeks and its about time this pair breaks out ... but first the false break as I fully expect the pair to rise up through the top end of the range, hit some resistance; maybe see a pull back; but ultimately achieve the 150+ price level (see red zone), showing yet another false breakout. Once there will look for...

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... 100+ pips higher from the false breakout below the previous weeks' price range. Currently: Should price retrace far enough, may look for possible add on position within the BLUE zone outlined, still targeting the YELLOW zone (where obvious resistance has been shown), but ultimately looking for a false breakout, higher into the larger RED zone.

ProSTrades Updated 

Not a fan of stocks, but love watching IPO's: NYSE:SPOT just released this week; here's my take on the chart after it's first week of trading... Price action has now put our first bottom in place, where I'd expect 134 to be the HARD floor price before any further declines. However, the range (green shaded zone) from the past 2 days, 'IMO', is the catalyst...