20ma
Another Flag PatternGBP/EUR has formed a flag pattern and to see its seems we have a false breakout, thats represented by the RSI showing overbought, so I would wait for the rebound to lower trendline for support and then the partial rise will be complete and then its a buy. Also the 50 MA is showing support and has crossed over with the 20 MA.Also, the price is in a separate area in the pitchfork
Incoming fall to $4.00/$3.00?Today I entered a put option with a 53 day expiry because the Bollinger Band and 20 MA was broken.
I expect price to fall between $4.00 and $3.00 within the next 15 to 45 days.
Max risk is about $160.
AUDNZD Price pushed through my Bollinger Bands and then retraced through the 20 MA. I am looking for price move back to the 20 on the daily time frame where I will be looking to short on a lower time frame. I plan to hold the trade until it hits the 200 MA.
I am taking advantage of my broker's leverage and how much margin is required to place the trade. In terms of AUDNZD my broker will allow me to risk 14% of my account per unit of movement. Since this is possible I will be able to place a 0.19 lot with a $10 account. This position size will give me about 6 - 7 pips before being margined out (I use this as a stop loss). At most, I will lose $10 per entry attempt but most likely will only lose about $7.50 per entry attempt due to stop out requirements put forth by my broker.
My profit target is about 300 pips away at the 200 MA. Given the position size, I will stand to make about $400.
I will make this entry attempt as long as price stays below the 20 MA and doesn't break to up or down. If a break up is made, then I will wait for price to break below the BB and 20 MA to consider an entry. If price breaks to the low, then I am no longer interested in the trade until price breaks above the 20 MA and then below it again.
Good luck to everyone.
CSCOPrice pushed up through BB and then below them. Then price moved below 20 MA. This gives me reason to believe a significant short movement may be imminent.
Therefore, I bought a 30 day put option (Apr17) on the movement.
I stand to lose $108.49 if the option does not fulfill the movement I anticipate.
Take profit target is at 200 MA.
Momentum Squeeze Play, GSVIncreasing volume, MACD crossover, broken resistance line, squeeze momentum on. Price target of $3.00, for just under an 18% return.
Wedge Broken Towards UpsideLithium X Energy Corp. has just broken the small wedge it has been forming. The reason I think this trade has a nice upside is because the StochRSI has been showing an oversold level for a while now, the squeeze momentum indicator is showing that squeeze is on, and the stoch is just above the 20MA which it has been respecting.
EURJPY Analysis Week of July 24, 2016Weekly:
Price is currently in a downtrend. The 20 moving average is currently being used as a dynamic resistance. We will use this towards our trading plan. The end of the week candle closed as a bearish pinbar. The size of that pinbar in relation to the previous bullish candle is not convincing that price is to continue its way down.
Daily:
Looking at the daily chart we can see a nice well formed channel. Price broke through lower and decided to get back into the channels range. This indicates that price has some bull movement before its continuation down.
4 Hour:
Looking at the 4 hour chart we can see a nice structure forming. A good area to go long is between support 114.500 - 115.500. A safer route would be to wait for price to reach resistance 120.500 - 121.500 to short for its continuation down.
Wishing everyone a good trading week!
GBPUSD 4 HOUR SHORT LOTS OF UNCERTAINTY WITH GBP BECAUSE OF THE ELECTION WHICH IS CAUSING THE POUND TO DEPRECIATE. PRICE BROKE OUT OF THE RANGE LAST WEEK AND IT IS NOW LOOKING TO RETEST THE RANGE LEVEL (SUPPORT TURNED RESISTANCE). THIS IS A TEXTBOOK TREND CONTINUATION PATTERN (BREAK,RETEST,CONTINUATION) IF PRICE MANHES TO RETRACE BACK UP TO MY SELL ZONE I ALSO HAVE 2 FIB CONFLUENCES WHICH ARE THE 38.2 AND 50 FIB LEVEL. TARGET BACK DOWN AT SWING LOW WHICH IS ALSO A PSYCHOLOGICAL LEVEL.(1.46000) ALSO PRICE SEEMS TO BE APPROACHING A DYNAMIC RESISTANCE (20SMA)
