OKTA - Breaking out all time new highsSymbol OKTA
setup cup and handle
Upcoming Earnings Jun 05, 2019 (EST)
Horizontal S&R: yes $87
Channel S&R: yes rising trendline
>20 & 50MA S&R: yes bounced 50ma but never really closed below it
>200MA: yes clear up trend
Volume confirmation: no yes
Candle Confirmation: yes yes. gapped down on earning and finished strong
Stoch Divergence: yes turning up
Reg Trendline >85: n/a
Short Float: 6% low float
Entry 91.8
Stop 87.15
Price Target 101.1
Risk / Reward: 1:2
Zacks Rank: 3-Hold 3 Style Scores: F Value | B Growth | F Momentum | F VGM Industry Rank: Bottom 16% (214 out of 256) Industry: Internet - Software and Services
Any feedback is welcomed.
50sma
EURJPY 4H MA TRADESPrice is in between the 50 sma and the 100 sma
Short Trade
If price drops below the 50 sma in less than 8 bars
Then Sell Stop @124.49
Sell Take Profit @ 124.00
Long Trade
If Price stays above the 50 sma for over 10 bars
Then Buy Stop @ 124.95
Buy Take Profit @ 125.30
SL 20 pips below or above 50 sma
depending of a sell or buy
Watch Macd for direction
GBPJPY 4H TRADESPrice is between 50 sma and 100 sma
Price below 50 sma so bearish bias
If price breaks above 50 sma again
Long Trade
Buy Stop @ 143.20
1st Buy Take Profit @ 143.60
2nd Buy Take Profit @ 144.60
If price stays below 50 sma
Short trade
Sell Limit @ 142.90
Sell Stop @ 142.20
Sell Take Profit 141.40
Watch Macd for direction
Find a SL
JPM: Potential 3-Drive formation for -20% downsideI don't particularly think the CAT, WHR and NVDA results bear well for the market nor the economy in general and JPM is probably one of the biggest proxy out there. Recent price action has stalled at the 50-days moving average and a "support-turned-resistance" level; I personally do like buy/short breakouts/downs which had retested prior support-turned-resistance and if we extrapolate the 3rd leg of this potential 3-Drive formation, it is a -20% downside objective.
AUDUSD 4H SHORT TRADEWHY BEARISH BIAS TRADE
Price had two failed breakout attempts of the 800 sma
A 3rd failed breakout attempt of the 800 sma was a news related event
Macd is below zero and Red signal lines
Short Trades
News related spike bullish candle low is support level to breakout @ .71725
Price should close below 50 sma
1st Sell Entry @ .71725
2nd Sell Entry is bearish breakout of 4h trendline
2nd Entry is made from a 15m chart with a break-hook-go candle pattern
Sell Take Profit is the 100 sma so possible exit area is .7110
Watch Macd for direction
NZDUSD 4H RANGE TRADESPrice is above 100 sma
Price could continue up to the 50 sma
Price usually moves sideways awhile when in-between 100 and 50 sma
Price may breakout above 50 sma and retest range top
Enter bullish breakout on a 15m chart with a break-hook-go candle pattern
Price could fail above 100 sma and cross below it again
Sell Stop @ 1.6725
Sell Take Profit @ 1.6690
Find appropriate SL
DOUBLE DEATH CROSS STRATEGY WTI CRUDE STOCKApply these SMA Indicators on your chart - 50 - 100 - 200
Step #1: Wait for the 50-day EMA to cross below the 100-day EMA. The two moving averages also need to converge with the price action.
If we get the crossover of the 50-day MA (blue line) and 100-day MA (orange line) at the same time the price is testing those moving averages, that’s the best-case situation for a trade because we can define the risk.
The rule you need to keep in mind is that when the MAs converge with the price you have to get ready for the ride because it is going to get BUMPY!
Step #2: Multiple entry strategy: Sell 1 when we close below 50-day MA and 100-day MA. Sell 2 when we break and close below 200-day MA.
Using multiple entries to improve your average entry price can be the best way to approach the death cross signal. Scaling in to a position is our preferred trading method when looking to capture large price move in a currency pair.
The fact that the price was near the death cross signal, it created a tension in the market that eventually will lead to a sharp move to the downside.
We pull the trigger on the first half of the trade once we close below the 50-day and 100-day moving averages.
If at the moment when the death cross developed we’re already trading slightly below the two moving averages, sell at the market the moment we close below.
The second half of our position is entered once we break and close below the 200-day moving average.
Note* it’s important to remember that the success of the death cross signal relays on this simple trade secret that price and the two moving averages needs to converge.
Keep it simple stupid is not just a simple aphorism, but it’s an old truth that can make the difference between losing and making money trading.
This brings us to the next important thing that we need to establish for our long-term trading strategy, which is where to place our protective stop loss.
Step #3: Hide your protective Stop Loss above 50-day MA and 100-day MA
The most important thing we need to define when trading is our risk. If you want to be a profitable trader you really need a limited risk. This is the type of death cross trades that we want to pull the trigger on.
If the price were to move back above those moving averages, we can safely assume this is yet another false trade signal. In this trade case scenario, we’re risking a little and our reward is potentially much bigger.
So, the best place to hide your protective stop loss is above the 50-day MA and 100-day MA.
Step #4: Two-step process for the take profit strategy: Mark on your chart the high of the candle when the 50-day MA crossed below 200-day EMA. Take profit when this high is broken.
Our take profit strategy might seem a little bit complex, but once we break down the steps you need to follow it will make more sense why we’ve chosen this approach.
The first thing you have to do is to remember what we said in the beginning of the article which is that when the price doesn’t converge with the two MAs this is a death cross false signal.
In our example below, we can observe this type of price action.
Now all you have to do is to mark the high of the candle when the death cross happened and take profit as soon as the high gets broken.
Note** the above was an example of a SELL trade using the death cross strategy. Use the same rules for a BUY trade – but in reverse, in which case we have the golden cross trading strategy.
MONDAY 4h MACD CROSSOVER ZERO LINE STRATEGYStart scanning your trading pairs on 4h after the beginning of the new Monday Trading session
Setup chart with 50 sma & 100 sma
Setup chart with a Macd default setting of 12-26-9
Find a Macd indicator that shows zero line like TV - Indicators - Public Library - Macd Crossover
Trade Setup 4H
When Macd Blue like crosses over Zero line (above is buy signal - below is sell signal)
Enter at opening of next candle after crossover
TP - can be 50 to 100 pips or you decide your own exit strategy
SL - below/above macd crossover candle
US NEWS TRADES AUDJPY 15MToday's news events are NFP & Fed Powell speaking
Fractal Highs and Lows have been created by price
Price above 50 sma so Bullish bias trades
Macd above Zero line so Bullish bias trades
Breakout of fractal highs will be trade bias
1st and 2nd fractal high breakout trades have been entered
Take Profit will be 800 sma line
Adjusted SL at previous low point
USDCAD 4H SHORT TRADESPrice is moving between 50 sma and 100 sma
Price may rise back to 50 sma again before falls to 100 sma
Sell Limit @ 1.3567
Sell Limit TP - take 1/2 profit @ 1.3480
Let rest of trade ride
Price can currently fall to 100 sma and break below
Sell Stop @ 1.3480
1st Sell Stop TP @ 1.3427 - take 1/2 profit let rest ride
2nd TP close all trades @ 1.3364
SL placed above high
Adjust SL as price falls
GBPJPY 4H TRADESPrice has not gone above 100 sma for several bars
Price between 50 sma and 100 sma
Long Trade
Price stays above 50 sma
Buy Stop @ 145.15
Buy Take Profit at 800 sma
SL below 50 sma
Short Trade
Price falls below 50 sma with a candle close
Sell Stop @ 144.45
Sell Take Profit @ 143.35
SL above 50 sma
Watch Macd for direction