Long til 61.8% retracement (Target),
Stop loss is below the recent low of the handle.
News of the corona virus are improving with recovery rate at 50%
Risk: Any bad news of corona virus in the future is bad for this long trade
A bullish flag trend-line resistance has been broken.
Tesla to resume operations in shanghai factory, Adding confidence to the market, i like it!
Downside: lingering worries of the corona virus that could impact the market
A small buy for me to the highs and afterwards adding more position if it breaks the ATH.
TP2: 61.8% Extension
SL @ 3300
This strategy is focus on multi year bull run from 31st Dec to Last trading day of January.
Let's see how well it runs for 2020! Open position @ Open 31st Dec, Closing position @ Last trading day of January.
Conclusion: Long til last day of January
RSI trend line broken to the downside, Price is currently at 161.8% Fib resistance. With the bad news from Boeing Co, This may be a good resistance for a shorting opportunity
Boeing Co is expected to continue burning cash because of the pause in production of its 737 MAX jet. The airline said on Monday (16 Dec) that it would suspend all production in January
World stock markets struggled yesterday, as hopes faded that a Brexit deal would be wrapped by next week. When there are tensions and obstacles in the market, markets tend to be more cautious and pull back
Shorting this opportunity after the breakdown of a double top is a good choice. At the moment, the market had tested the support turned resistance and found...
SPX Bulls dominated the market today, finishing nicely today and closes the bar at the high of the day
Moving Averages are still bullish, If prices breaks cleanly above the consolidation area i'm looking at 2070 then 3020.
I'll be keeping an eye of this breakout pressure.
Nikkei currently trying to break the resistance of the parallel channel, RSI (4HR, 14period) is flat lining and turning bearish. There are bear divergence on the MacD and RSI.
If you trust this parallel channel to hold. It's a really good place to go short right now.
DAX formed a double top (it looks clearer on 1 hour timeframe). Price broken the double top neckline and retraces up to 61.8% and got rejected. Will see a down move to the support
Trading strategy : 2618
GBPCAD has made a smaller double bottom at region 61.8%, currently still within the downtrend trendline.
a good trading opportunity is to enter at the smaller timeframe double bottom and long it at the neckline.
Strategy used: Horizontal support & resistance, Fib, Bullish divergence (Weekly) & 2618.
Too Long Didn't Read: I'm long on this.
Shorting GER30 with a double top using the 2618 strategy, Broken neckline and retraces up to the 61.8%, a bear candle is ongoing looks to me like a reversal to the downside is coming
Aggressive entry: enter straight at 61.8%
Safe entry (Recommended): Wait til the bear candle established and short it using smaller timeframe
GBPCHF -0.37% has made a lower low in July, Testing the weekly trend line
This lower low made a double bottom pattern and breaking the neckline structure and retracing to the 61.8% Fib entry area.
Good place to go long within the 2 lines. Look for bullish entry on the 30min/1hour timeframe or aggressive entry long at 61.8%
RSI is currently as of now forming a hidden bullish divergence.
Price is currently at 4HR 50MA and inside our entry area is our buy area where it lies in between the 50MA and 200MA on the 4 hour chart
Yesterday's Daily candle was long bullish candle i expect momentum to continue.
Entry: wait for bullish signal in price action inside the entry area OR you can...