laughingchartist

laughingchartist

ARE WE ABOUT TO SEE A MARKET CORRECTION? As we finish off Q3 2019 and approach Q4 2019, we see that S&P is holding strongly about its new all time high. However, exactly a year ago, as September 2018 wrapped up, it started the great correction of 2018. Whereby the market erased all of the gains it made for the whole year. Some would argue that the crash started...

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Long AEM Entry: $0.95 - $1.00 TP: $1.24 Market testing descending pull back support line and approaching supply and demand zone. Price holding above 21 EMA support with MACD also starting to cross into bullish territory.

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Short CADJPY SL: 82.2 Market broke below ascending channel to the downside. Also, reacted below short term S&D zone. Market testing moving average with MACD showing a change in momentum. Chance for a good short with extremely good risk reward.

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Short Gold Entry: 1287 SL: 1297.15 TP: 1245.25 Gold expected to be bearish below 1297 towards 1260.50 followed by 1245.25. Price is holding below descending trendline resistance and also broke the pullback support line (now resistance). Long term, gold is in a downtrend

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Short Gold Entry: 1291.50 SL: 1303.40 TP: 1247.75 Global markets are currently in a risk off environment given the recent trade-war escalation tweets by Trump. This also is in line with safe-haven currency such as JPY outperforming this week. Technically, market reacted below long term descending trednline resistance. Price is also currently testing what I...

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Market drop in progress towards Trend level at $1.00/$0.97 region. After which an intermediate bounce is expected. Market reacted below desceding trendline resistance RSI (21) reacted below 53% resistance level and has entered bearish territory below 50% level. RSI (21) 53% resistance level is also where price has reacted many times in the past, as seen...

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Short Gold Entry: 1283 SL: 1287.77 TP1: 1273.75 TP2: 1260.75 I expect a Gold to drop. Market close to descending trendline resistance. RSI also testing descending trendline resistance. Market has reacted below this resistance multiple times in the past (shown by yellow arrows). Long term, market within a descending wedge pattern. Market however is still holding...

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LONG USDCNH Entry: 6.7120 SL : 6.68455 TP : 6.8300 Market reacted and broke above descending trendline resistance (now support). Market also now above EMA (34). MACD also shows a bullish crossover and now also entering bullish territory.

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SHORT Gold Entry: 1278.75 SL: 1284 TP1: 1266.25 TP2: 1254.75 Market is within a long term descending wedge pattern. Currently, price has tested and reacted below descending trendline resistance. RSI also testing 55% resistance level where market has previously reacted before (as pointed out by the yellow arrows). I am more confident that price will only pull...

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Long 1D1 with low conviction Entry: $0.285 SL: $0.270 Market is forming a possible double bottom reversal pattern. Only when price surpasses $0.330 will this reversal pattern be confirmed. $0.330 is also a strong resistance level found twice via: - Descending trendline resistance - Double bottom neckline Should market break above $0.330, we can expect to...

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SHORT GBPJPY Entry: 145.725 SL: 146.500 TP1: 143.800 TP2: 142.200 Market reacted below descending trendline resistance. Similarly, MACD indicator showed a bearish cross signalling for market to go lower. This trade was entered yesterday but I forgot to publish it. However, as expected, market has moved in my direction. I have also moved my trailing stop lower...

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SHORT AUDJPY ENTRY: 78.695 SL: 79.045 TP: 77.500 Market reacting below descending trendline resistance. Market also holding below it's natural MA (34). We see that price respected MA (34) quite often in the past. Stochastics also shows a reversal with room for further downside potential.

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Short Gold Entry: 1299.05 SL: 1313.15 TP1: 1266.25 TP2: 1254.75 Market reacted above descending wage support with price closing above EMA (21). MACD still in bearish territory however, showing a golden cross signalling a possible reversal. Wait for a pullback to short below 1299.05 where also happens to be descending range resistance.

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Short GBPJPY Entry: 146.015 SL: 146.900 TP: 144.200 Market broke below ascending trendline support (now resistance) H&S pattern seen forming Market holding below EMA and MACD now in bearish environment

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Long USDJPY Entry: 110.655 SL: 110.33 TP: 111.42 After the crazy impulsive move down, market actually rebounded. Price is now testing ascending trendline support. Market is also holding above EMA (17). MACD is now testing 0% level and has moved up into bullish territory. This is a short term play with a simple risk reward of 1:2 Market pulled back and...

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Long USDJPY Entry: 111.285 SL: 111 TP: 112.5 Long position was kicked in as market pulled back towards ascending channel support. This also corresponds with a strong supply/demand level. Market also testing EMA (120) where price reacted above before. This can also be seen on RSI (34). I have pointed it out using the purple arrows. RSI (34) also coming to test...

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Short GBPJPY: ntry: 147.105 SL: 147.85 TP1: 144.850 TP2: 143.5 After a strong rally upwards, we see a divergence between momentum and price. RSI (21) has also crossed into the bearish territory below the 50% level. Shortly after which, market broke below the ascending trendline support (now resistance). Price has also closed below EMA (34) which has acted...

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This trade was triggered earlier this week. However, I chose not to publish it as it was a low probability trade for me at that time for the following reasons: Market was only testing the ascending trendline support (now resistance) Normally I would wait for a pullback to retest the trendline before entering to short Market was also forming a Head &...