GBPJPY H4 - Short Trade SetupGBPJPY H4 - Must await a candlestick close on the H4 timeframe here to give us that confirmation we are looking for to see some downside pressure. Massive rally seen here, ***YEN pairs ripping upside for the most part, would be good to see some corrections soon, RR ticks the boxes as long as we don't dump.
Alerts
TSLA - 10.97% Potential Profit - Corridor BreakoutLevel of confidence on this trade is Low/Mid and I will wait for a few minutes after the market opens to determine whether I'm entering with a Buy Stop or a Buy Limit order.
Corridor breakout. We are out of correction and it could now push up to +$2000.
Target price set at new Resistance bounce.
- 5-month uptrend
- RSI and STOCH above 50
- MACD above Signal
Suggested Entry $1845.75 (Buy Stop) or $1802.96 (Buy Limit)
Suggested Stop Loss $1778.69
Target price $2048.38
Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
TECK - 8.06% Potential Profit - Corridor BreakoutCorridor breakout. New support confirmed multiple times yesterday.
Target price set at new Resistance bounce.
- 5-month uptrend with a 2-month correction
- RSI and STOCH above 50
- MACD above Signal
Suggested Entry $12.01
Suggested Stop Loss $11.72
Target price $12.85
Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
NVDA - 8.32% Potential Profit - Resistance BreakoutBe mindful of earnings on the 19th of August.
Uptrend resistance breakout. There could be a short term pullback, but overall price is looking to establish a new uptrend corridor.
Target price set at a new potential resistance line from February's high.
- 5-month uptrend
- RSI and STOCH well above 50
- MACD well above Signal
Suggested Entry $475.83
Suggested Stop Loss $467.83
Target price $515.40
Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
GBPUSD H4 - Long Trade SetupGBPUSD H4 - Nice strong GBP rally for the last few weeks, performed excellently, saw a bit of exhaustion towards the latter part of last week as we failed to set highs, that being said, we haven't set new lows, so we are technically range bound until we see a breakout. Generally would like to catch an opportunity to buy from support and hopefully break new highs (as indicated on the chart).
EURJPY H4 - Long Trade SetupEURJPY H4 - Clear consolidation (pennant) seen here on EJ. Nice strong rally with minor pullbacks from 120.300 to 124.300, now starting to see some accumulation/consolidation, gearing up for the next breakout. Bullish pennant, typically expect a bullish breakout. Generally seen as a continuation pattern, but if you wait for the break and retest, you're able to trade either way.
EURCHF H4 - Long Trade SetupEURCHF H4 - CHF has seen a recent bid, GBPCHF and EURCHF has dipped a little, trendline support on GCF has broken, but support on EURCHF sits at circa 1.07220, lets see how this zone holds as we approach close, could look to buy back up to resistance at 1.07900 which offer over 1:5, with a little bit of luck could break resistance again and look to set new highs, pushing in excess of 1:12.