tradetheday

tradetheday

Hello Fellow Trader! S&P500 (SPX) New All Time High or Further Drop for Accumulation SPX found support at its previous all time high price 3394 before bouncing and looking to test new highs. There are two options in play to trade this structure and the higher risk to reward play would be testing the June 2020 high 3232. Scenario 1: IF price forms some type of...

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Hello Fellow Trader! Great risk to reward play forming on AUD/CAD with AUD looking to strengthen against the USD as the Iron Ore price strengthens and oil dropping effecting the Canadian Dollar. Key Points: - Price crosses September trend line - Consolidation above trend line - We have the 21 EMA crossing above the 50 EMA - Price sitting on 38.2% Fibonacci...

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Hello Fellow Trader! Silver (XAG/USD) Pieces Through Trend Line 4 Hour Time Frame: Strong bullish Engulfing pattern at key Fibonacci level and price. A simple way to find support and resistance in Silver is to plot price intervals of $XX.50 as seen in the labelled examples, and watch and back test price behaviour at these levels for opportunities or clusters...

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Hello Fellow Trader! EURAUD Superior Reward to Risk Ratio Daily Chart: EURAUD has crossed below a weekly trend line set back from February 2017 and forming a bearish 5 wave wedge (ABCDE). To complete the wedge pattern, the final wave E is now in play for upside before the next fall. The open today MUST hold the bullish engulfing 1 hour range for confirmation...

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Hello Traders and Investors Bitcoin hits major level 10200 for a low risk high reward trade. Key Points: - Price at Fibonacci 61.8% level (June low to August high range) - RSI breaks above oversold 20 - RSI breaks above trend - Price sold off rapidly and finds support at 100% - 123.6% Fibonacci Extension - Waiting for bullish candle stick for entry. Key...

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Hello Fellow Trader! Dollar Index Strength and USDJPY Targeting 106.800 DXY – US Dollar Index 6 month sell off due to FED stimulus and investors seeking larger returns from the equity market has possibly found a short-term floor. In September, DXY has already risen 1% and has more room to move technically as it eyes off 106.800. Key Points: - Price...

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Hello Fellow Trader! View: Beach Energy Limited (BPT.AX) coiling above a daily trend break and finding support at $1.50. In the month of August, Natural gas spot price finished up 44% and Oil up 8% to support what could be an undervalued company imbedded in the ASX during a pandemic, leaving most investors in limbo on where to invest their money. Their full...

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EURUSD approaching levels we haven't seen since 2018.  DXY falls to 92.30 with room to drop further as FED Chairman Powell dovish on interest rates.  EURUSD holding 1.18800, and sighting levels set in August 2017 - $1.200 Key points: - 1.18800 extremely strong level – Old resistance = New support - Broken and holding above key level 1.18800 - Reclaimed 50 EMA...

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Gold broke all time highs in July 2020 for the first time in nine years, piercing through $1,920 with ease and now supporting above this major level. Now compressing into a possible wedge breakout pattern.   Key Points: Wedge forming above the previous All Time High Has respected the 200 EMA on four occasions in the past two weeks, reclaiming and held above...