Looking for USD/CHF to head back down towards the bottom of its range to continue its current channel bound trading.
There is also currently more potential downside than upside due to the resistance above the current price.
After the slightly negative news today, it looks like the USD is going to continue weakening against the yen.
Setting TP to a bit over 3x gain, setting SL to the top of the channel a couple of days out.
USDCAD seems to have begun a sideways channel. I'm making a play here to go from the top of the channel towards the bottom.
My Stop is just above the previous resistance, and my take profit is down at the bottom of the channel.
In this trade I'm aiming to ride the continuing uptrend to the next swing high.
If I'm right it'll continue through the old high on its way up to the high set back in late April. Stop is set below current swing low as indicated by the bottom of the red box. Take profit is set at next swing high (green box). I'm not confident that this trend will continue beyond...
EURUSD just completed a retracement. I'm looking to Short here to as it heads into heavy support down near by Take Profit at 1.09. Stop Loss is set 55 pips above to give some flexibility and safety on the trade.
USDCHF is in a nascent downtrend, and I'm looking for a bounce off of the current resistance line. This is a lower probability trade with a very high pay off, due to the short stop and long take profit.
X has bounced off the bottom of its trend line. It appears that the people who bought the stock for the dividend, have bailed and I believe the stock to be heading back to its up-trend.
The Franc has been in a moderate downtrend for a while and has recently taken a dip. Over the last few days we've seen some profit taking from the shorts with a minor peak. With the overall downward pressure of the daily/monthly downtrend, and the lack of much support below, I expect to see USDCHF continue on downwards.
Expecting EURUSD to resume its daily downtrend here, heading down towards 1.10 and maybe lower.
Solid 3:1 risk to reward, defined entries and exits. Exiting at the next support level at 1.10.
XOM dropped with heavy selling well below previous uptrend channel, but that petered off shortly after earnings were reported. This indicates to me that the market has priced in the disappointment and selling interest has dropped off, with a lot of profit taking happening on the green bar just before earnings.
I purchased just as it started the reversal with my...
I'm seeing strong short term downwards pressure on Netflix. Target for profits is about 85ish.
There is very strong support down below 85, which indicates to me that someone with deep pockets and a long term view is aiming to keep netflix above that level. If that is the case, exiting at 85 and going long would be the best play.
Heading to the downside with this trade.
EURUSD has bounced off of the channel's top and is heading downward. I've set my stop extremely tight, so it is very easy to know when I'm wrong or right.
The 15x profit target is a bit ambitious, but considering the current channel, it isn't unrealistic.
Expecting Gold to stay in channel.
Look for a test resistance at 125. It may hit the bottom of the channel somewhere 125/124 and ideally keep going up. There is a solid longer term bullish trend that doesn't appear to have ended quite yet.
