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EURUSD - Short opportunityHello, EURUSD's right side of the market is down. At this moment, it is inside a corrective cycle from Sep-22. This correction has an abc structure, and we expect it to reach the green zone before turning down and continuing the USD strength cycle. Therefore we can sell EURUSD once the price reaches the IZ (green area) having as a target, at least, the 0.9555 level. Always keep in mind that risk management is, at least, as important as the entry-level or the SL. Remember the quote “If you do not manage the risk, you will not have any risk to manage” The market is always repeating the same type of defined structures. There are only two main wave types: the motive wave and when the motive wave ends it starts a corrective wave. Within them, there are only 3 motive waves structures (Impulse, leading diagonal , and ending diagonal ) and 5 main types of corrective structures (ABC, WXY, Flats, triangle, WXYXZ (triple correction)) Learning them and being able to spot them in the price action graphs will completely change the way you trade as these structures will provide entry point areas, invalidation levels, and targets for the trade. Have a safe and profitable trading day Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it is only the explanation of what we are going to do and it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Short
by TradingtheRightSide
Large Cap Tech Earnings Disappoint (Short Position Active)Yesterday, we finished with a nice green Bullish candle ahead of Google and Microsoft's earnings. Shortly afer the bell, Google fell about 6% and Microsoft around 2%. That's not catastrophic in any way, but it will be difficult for the markets to continue to rally without their participation. And that was only two out of the five large tech companies that make up about 20% of the S&P. So what could happen today? I'd be looking for an inside candle, Doji like candle bouncing in between 3865ish-3835ish and tomorrow will tell us more the direction of the market. Now, don't get me wrong, this upward trend we have has been improving, with now only 66% of stocks below their 50 day and 34% above the 20 day. But this upward trend is looking more to be like an ABC correction to me. A few weeks ago I posted an idea that we were forming a cup and handle pattern and if you take a closer look, it's somewhat playing out. It's not the most attractive cup and handle, but it's there. If you think about it, we've had about an 18% downward move since about August, so we were do for some type of correction. These are characteristics of bear markets. And even if we break out above the 50 day, I'm not immediately changing Bullish. Counter Trend Break outs are not ideal. Especially when we still have a declining 50 day. Overall, tomorrow is going to be more of a critical day after we hear from the other three tech giants. If this cup and handle pattern plays out, I could see some significant downside in the coming weeks. I did enter a short position yesterday. Nothing too aggressive, as I want to see how these next couple days play out. If this decides to roll over, than I'll continue to add to my short position. Position size accordingly, risk manage, be patient and stay disciplined. Happy Trading!
SP:SPXShort
by MMOTA_
Buying before the breakout : Pocket PivotABC is a company with good accelarated Earnings and good margins. The company is identified as tradeable via fundamental analysis/funadmental screening. Now whats left is when to get it. I wait for the price to break the 100-200 ema ribbon and make some kind of base/price structure around the area and see if there is a pocket pivot around/inside the base. Preferably before a breakout of the base (if a breakout candle coincide with a pocket pivot, thats okay too)
ALong
by sufiansaid
Bitcoin $btc 1day chart, Exercise caution, With fed (cpi) meeting in a couple weeks, coupled with a bullish $dxy (us dollar) expect some volatility in Btc in September, we also have the eth merge in less than 10 days. Plenty of seller exhaustion on the daily rsi giving buyers (bulls) the chance to takeover. Bitcoins Elliot wave theory Waves 1, 2, 3, 4 and 5 form an impulse, and waves A, B and C form a correction. The five-wave impulse, in turn, forms wave 1 at the next-largest degree, and the three-wave correction forms wave 2 at the next-largest degree. $18500 would be a good entry for a swing long. Not financial advice, do your own research. I am not a financial advisor. have fun traders, like and subscribe, boost, tip. kind regards
Long
by TechnicallyBullish