Many swings prior to May this year but none since.
This IMO is about to roll over and sharply.
$100/110 November my first target
Revenue is growing at slower rate
Forward P/E 500+
Switch has had a good run up 100% in 6 months ( yep)
On the daily there is a large gap up which i feel will be filled.
Time to breath, and running against some fibs and trends. I will see after Monday if i get some puts on Tuesday. They are quite cheap with this stock moves are quite large when it gets going.
Negative Free cash flow.
Net margin 5%.
Spy has yet to break back into it's previous daily trend.
Momentum is quite strong but still feel the downside is in play. Typically a unforgiving market will rinse the the last buyers/sellers out. IMO this last move will break back into trend taken the last bulls to only turn around break down.
Do not listen to the news of the day MM HF just use this to...
A big push up today will need a little retracement now, after hitting the 61.8 on 240 charts. Also, a double top, be careful as traders holidays season but market makers are still at work.
I am waiting for a pull back around 109.92 with a 30 STOP and reaching 110.68 taking off 50% profit 110.23
This pair have now been down trending for nearly 2 months so momentum and profit-taking are moving in.There are 2 supports levels it needs to break to continue its down trend.
Personally, I'm not waiting for the break consolidation to go long as I want to be in the trade early but if it does go aginst me I fairly confident I can still make good profits and cover...
The JPY has tried clearly 4 times to break and go find support @ 118, as the yen is trying to do everything in its power to weaken its currency. Most swing traders are in it one swing too late.
I never use lagging indicators but here you can see with the Macd something is a miss.
Still we can wait for the break out either way but most of the trade would...
Moving strongly to wave three and the fib 61.8. I will now wait for a move from wave 4 before moving my stop to just below wave 2.
I will keep close eye on the break of wave 5 as i have shown yesterday.
Fundermently nothing in the calendar to scare both currencies this week.
Although it is in a bearish trend on 4 hourly and the hourly it's hitting a 61.8 retracement now and i think it will need a pull back now.
If this does manage to break Target 1 i will leave until Target 2 then will reposition at 115 approx heading all the back to 117/118
Fundamentals will play a big part of these two in the next three months.I believe a new push to the 1.455-1.4600 level and then as Brexit uncertainty a fall to 1.3800 and maybe as low as 1.3400
I will be looking only for the big highs and the very lows for my trade on this pair.