Two chart patterns are in play right now for FX_IDC:GBPEUR on a long term scale. First of all, GBPEUR is breaking out from triangle, with target at around 0.98. And further there is an option that GBPEUR is forming head &shoulders pattern. H&S would be confirmed, if currency pair breaks neckline around 1, then pound may drop as far as to 0.75-0.80 region.
Small trade may be attempted on NASDAQ:MEDP. Idea is that after yesterday's gap and strong rally during trading session, highly likely that gap is runaway gap. Such gap usually happen in the middle of the move, and thus price may target region ~90. Stop should be at the top edge of the gap at 74.27. Trade suggests around 2:1 in reward/risk potential.
NYSE:TREX is breaking out from both tirangle and smaller flag and is likely to attempt run until 90 level, where previous top is located. Target is based on triangle and wave (A=c) symmetry.
NASDAQ:NBIX broke out through acending triangle, and may now rally up to 120-130 level (Sep18 top), where both ascending triangle target would be reached and C wave would equal to 1.61 of A. There it should find strong resistance and potential double top.
Stop loss: 79.0
NASDAQ:JKHY may experience more downside in short term. Stock looks relatively weak in 2019, and after reaching corrective waves retracement targets, may go much to ~110$.
Entry: below 135.4 (or current level for more aggressive and less reliable trade)
Target: 110-120 (depending on how trade developes furhter)
Micron reached nice levels where to start building short position.
In worst case scenario $MU may fall as far as 70% from current levels, which is not absurd, given that the company is very cyclical, and global economy risks entering recession.
More prudent approach is to wait when bear flag would be broken below 40$, however, given current overbought level, MACD...
Yesterday NYSE:CDE broke through bearish flag and is now targeting region at around 4$, based on the symmetry and current chart structure. There it should find strong support, for the move higher.
Potrential trade: Sell short @ 4.60-4.70 region
Risk/reward: 2 to 1 or 3 to 1 based on the entries, which is reasonable.