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GBPUSD - ShortGU is following the flow, being a bit more resilient thant euro, but still, it's beeing hit pretty hard by dollar strenght. But, this trade could be taken just looking at TA, I entered it last thursday night after the wick that came to retest the 50% Fib level and the trendline, but, I still believe an entry could be made on the last daily candle. For those working on smaller TF, just look for retracement, break and retest, make sure you gat a 2:1 RR at least and go! Like every trade, it might not make it but hey, if you're being consistent on your entries rules then, probabilities will fall in your favor with time. I think this trade is falling into my requirements. Why am I shorting GU : 1) Strong selling pressure on GBP/strong buying pressure on USD 2) GBP made a strong downward movement, 3) it retraced to 50% FIB 4) it broke and retested the trendline it was in since last october. 5) my TP is above next support @ 1800ish + level Let's keep on riding this one! Cheers and safe trading! Leave your comments!
Short
by aemerydufoug
Learn point and figure chartPoint and figure charting is a type of technical analysis that is used to identify trends and potential buying or selling opportunities in a security's price. Unlike traditional bar charts, which display a security's price and volume over a while, point and figure charts only show price movements, disregarding the passage of time. The chart is constructed using a grid, with X's and O's plotted on it. An X is plotted when the security's price increases above a certain level, known as the box size. Conversely, an O is plotted when the price falls below that level. The box size is the minimum price movement required for a new column to be added to the chart. The point and figure chart are read by looking for patterns of X's and O's. A series of consecutive X's indicates an uptrend, while a series of consecutive Os indicates a downtrend. The number of Xs or O's in a column before a new column is added is known as the reversal amount. Support and resistance levels can also be identified by analyzing the chart. Support levels are identified as areas where the price has difficulty falling below, while resistance levels are identified as areas where the price has difficulty rising above. Traders can also use point and figure charts to set price targets and stop-loss levels. The price target is the level at which a trader expects the price to reach and the stop-loss is the level at which a trader exits a trade to limit their losses. In point and figure charting, a double top or double bottom is a chart pattern that is formed when a security's price reaches a high or low level twice and then falls back. This can be a sign of a trend reversal and could indicate a buying or selling opportunity. Another pattern is the triple top and triple bottom, which is similar to the double top and bottom but the security's price reaches the high or low level three times before reversing. It's worth noting that point and figure charting is a discretionary method of technical analysis, and it requires a certain level of experience and knowledge to correctly interpret the chart. It's more commonly used in stock trading, but it can also be applied to other securities such as futures and commodities.
NSE:NIFTYEducation
by pratik2358
Early entry in small cap health services, $MEDPSince late 2021 NASDAQ:MEDP is being forming a head & shoulders base with pivot buy above $230. This is the beahvior of a potential leader. It shows when comparing it against the AMEX:IWO as is still in a downtrend. The play for me would be to buy 1/2 or 1/3 of a position just above yesterday's high with a STOP-LOSS below $196. And then add at the $230 pivot. Medpace Holdings is ranked #1 in its industry by IBD. I recomend to also check NYSE:VPG which is also setting up. Its being hard for small caps to get demand as the indices are still in downtrends making the sentiment stay bearish. But as JC Parets always likes to remember, "is a market of stocks, not a stock market".
NASDAQ:MEDPLong
by dpuleo19
A Dogecoin Bullflag Sits Above A Very Historic Monthly RangeFrom the looks of things the Dogecoin to BTC pair, maybe attempting a Break-Hook-and-Go off the All-Time Historic Range that it traded within and could be setting up for a Bull Flag Breakout that would take it to the 2.272 Fibonacci Extension. We can also see that the MACD is showing us some Hidden Bullish Divergence and is Crossing on the Monthly which has historically led to massive moves up within the range. Now that DOGE/BTC trades above the Range we could perhaps expect the Biggest Move Yet!
Long
by RizeSenpai
1
eu time for a breakoutits time for a breakout to the upside for euro vs dollar , with gu already leading this move and a super long dollar bullride that yet is begging for correction. I am expecting a break to the upside here. eu tried and failed a break of its current trend three times past 2 months. We are seeing another attempt right now with eu trading at the upper resistance of its bigger trend. stay tuned. this break, once confirmed, would also deliver us a new uptrend in eu.
Long
by MrKrft
2