I continue to hold a bearish Bias on this pair which I discussed last week
There has been lots of volatility on the US dollar which has lead to choppiness on USD/CASD pairing
As we continue to consolidate below the 1.325 key level we have now also formed a potential H&S pattern
If we see a break of the neckline at 1.3190 I believe we can see a continuation...
Despite the short term bullishness for this pair we are in a downtrend on the HTF
I believe we are printing another lower high currently and a new lower low should follow with a push into the 1.6400 monthly support region
Wide stop on this setup as we can expect some choppiness and volatility
Risk = 70 pips
TP @ 1.6400 = 490 pips
R:R = 1:7
Short position on USD/CAD ahead of tomorrows FOMC meeting and CAD GDP report
The fundamentals mentioned will both highly impact this pair and the currency markets overall tomorrow
However we can see clear indications to take this pair short with the double top on the 4H and taking a look at the HTF
- 30 Pips risk
- TP1 = 1.3090 = 85 pips
- TP2 = 1.3000 =...
GOLD has been a killer this week chopping within a 200 pip range
Yesterday I was stopped out of a few positions for B/E at the 1419 level
Following the US GDP news this is simply a re-entry
Weak hands taken out of the market and frustrated by now
Going to hold this into next week targeting the $1440 region for TP1
*This is NOT financial advice*
BTC long trades executed within the $10,000 key region
Two different trade setups: an aggressive short term trade and a conservative swing trade
TP1 = $11,600
TP2 = $13,000
*this is NOT financial advise*
After a 20% drop following last week's Q2 earnings report I believe this may be a buying opportunity for NFLX
Retracing just shy of the $300 key level NFLX also tapped the 100WSMA which previously acted as a long term support
I will be watching this area for a possible swing trade in the short term
But if you are a Long term investor and believer in NFLX I...
Chainlink is in a strong uptrend
After consolidating for the last 2 weeks LINK is ready to continue higher
1st upside target is $5.5 based on fibs and key level principles
*This is NOT financial advise*
Ethereum is currently a tad more bearish relative to BTC
If the $275 level is reclaimed as support, above $290, ETH can test the $319 resistance
With the $260 key level as target 1 with an long positions
However if we reject $275 or close the weekly candle below that price we will likely see a continued decline into the $250 psych support level
Bullish Bias remains so long as we hold the $11,000 level and prior swing low
If the $12400 level is broken and reclaimed as support I believe we can see a 2nd attempt at testing the yearly highs
1st Upside target above $13800 is the $14500 region next
However if BTC does lose the $11000 support level we will retest $10,000 with $8,500 most likely to follow
Long Opportunity on GOLD after breaking out of the intra week $1205 Consolidation zone
We may see a brief pullback before continuing higher into the $1426 upside target level early into next week
Keep an eye on a weakening dollar
Over the weekend we broke out of the prior $.47 resistance before retracing on sunday. Followed by a perfect retest yesterday of the $.45 support level. In the short term it looks likely we will see a retest of the $.51 prior swing high. While Upside targets remain with a breakout.
0x looks good after retesting the $.26 accumulation zone once again. Currently coiling before the next leg to the upside possibly. I recommend waiting for a daily closure above the on $.38 zone for confirmation of the upside push. But as you can see there isnt much resistance above there.
* This is NOT Financial Advice*
Following the surge higher into the $.45 weekly resistance level, XRP pulled back mid week. Falling to the $.37 region, which was tested and appears to be new support. I believe XRP can see a retest of the prior swing high at $.48. With the upisde targets $.50 and $.60 in play with a breakout higher.
After a selling off this week SPY has pulled back into a great buy zone imo. Ive been day trading this zone today/yesterday on ES futures at the 2840 level, however I decided to enter into a swing trade on SPY as well. The weekly candle does not look amazing, however if this intra day reversal continues it could close as a hi-wave doji. Anyway this is the swing I...