Now the pair has broken major consolidation area with conviction. That usually is a sign of continued momentum. Many argue that fundamentals don't move markets but if it wasn't for better than anticipated news out of Australia and the strength in Oil, many technical traders including myself would be in profit as many had predicted another impulse move to the...
Without a break of the trendline and price below the 200ma, we will not be looking for buy entries. Our short entry was stopped out and we now sit and wait. -Tradeplicity
Might get a few break even trades before the big payoff. No one knows, just have to wait and see. There is no one way to trade the markets, But there is only one way to lose all your capital......... NOT PROTECTING YOUR ASS -Tradeplicity
Could this be the short everyone has been getting stopped out of?
Rising Wedge into 0.50 - 0.618 Fibo level.....You could play the odds from here with your stop above the recent high or a little safer above the 0.618 Fibo level for a retest of the recent lows for your Target and it could even go further. Could be a 1:3 risk:reward trade. You must look for 1:3 risk/reward and higher trades, preferably 1:5 or higher to last in...
Trend line has broken and corrected which could be an entry opportunity for an impulse move we are anticipating..... If this breaks above the longer term channel.......It could be for many pips and while you accumulate positions....It is these few trades that could offset all your other small losses and some and make you a profitable trader. Good Luck Comment...
If you did not get in at the levels we suggested in our earlier post. A corrective wave structure can be your next opportunity. Will post shorter time frame example.. Good Luck
We had anticipated a ABC corrective wave up to the upper trend line. We were right on the AB move but market news weighed heavy on the GBP and broke down with momentum. Sure technical traders time and time again swear by their charts and I am one of them but that is not to say some economic and geopolitical news cannot have significant influence in market...
We see two possible outcomes for this pair. We might bounce off the lower trend line which is also around the 0.618 and 0.764 Fibo area and prior consolidation area. OR We have a strong break of the bottom trend line in which case we will wait for a pullback before initiating a sell position. You don't have to trade everyday. Sometimes its wise and...
We have had a ABCDE move within a bigger ABC move. We are playing the odds of a C wave formation. Price has also retraced back into the 0.618 and 0.764 Fibo level. Trade plan: At 1:1 we move to breakeven If C move plays out, we will add to position at consolidation periods. Good Luck and Plan your trade and Trade your plan no matter what your strategy or...
You do not need to know everything about Fundamentals and/or Technicals but you should also not be ignorant to the fact that both are the driving force in their own right in the market place. One cannot ignore news events or announcements that surprise markets….It is not the NEWS that moves the markets….It is the interpretation of the news that moves the...
You do not need to know everything about Fundamentals and/or Technicals but you should also not be ignorant to the fact that both are the driving force in their own right in the market place. Happy Trading -Tradeplicity.com Trade ideas, commentary and webinars coming soon
We have hit our target to the short side as posted on the last few charts. We might have a little bit more to go but this is the area we can look for long trades. Good Luck
NO ONE KNOWS FOR SURE, ALL WE CAN DO IS REACT.
If you are from the school of Wave Theory or Just Price action. I think using the sum of all combinations can add a great advantage to any trader. As a Wave Trader one can look at this set up and , anticipate the break of the corrective wave to the down side but with the channel in place and combination of formations such as those outlined on the chart, one can...
The corrective wave is in effect right now in silver and gold. What looks to be forming is also a Cup and Handle Formation with the handle being the corrective wave. We are looking for entry at the 0.5% and 0.618% Fibo levels which is also where a short term trend line sits. In a cup and handle formation, if the price breaks top of the Cup, then the target is...
we could have a few possible trades brewing within this pair. Price has been in a corrective wave for about a year. We have some possible waves within the corrective wave which can be followed by a nice impulse move in either direction. Fundamental news and central bank rhetoric can influence and add more fire to the move. Good Luck Weekly Webinars coming soon.
A move down here will get us a better price for our anticipated impulse move higher.