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Breakouts

EURGBP Structure Short AT MARKETHey traders, Small disclaimer, this trade will not be taken in the account i trade with you guys, the reason is i have restricted myself to only patterns to help teach consistency in your trading plan. I do want to bring to your attention this structure Short on EURGBP simply to show how combining different key factors you can create a strong reason for entry. Descending Triangles typically tend to go to the downside, with price action breaking previous structure looking left, with a descending triangle, and price action coming back to previous resistance and confluence with 38.2 Retracement and 1.272 Ext we can increase our probabilities of success. With this, I must add that all these factors combining together do not guarantee any measure of success. The only way to check for that, is to back test the theory. Like my old teacher used to say, " I do not look for just any trading opportunity, I look for the high probability trading opportunities" Like always if you have any questions, comment below, follow us on social media ! Follow us on Instagram: @thealcovefx Follow us on Periscope: @thealcovefx Follow us on Youtube: www.youtube.com
Short
by TheAlcoveFx
GBPCHF breakout and continuationGBPCHF broke out of the flag of the bearish flag patter confirming it. Consolidation and retesting of the previous support now turned resistance happend and the price is now moving further down with the next possible consolidation area at around 1.4290-1.4190 before going further down towards 1.38 which would be the end of the bearish flag patter. Above scenario will be negated if the price suddenly turnes back up into the 1.46-1.48 area and even breaks out of 1.4820.
Short
by UnknownUnicorn326052
EURUSD could result longterm upEurusd trading in channels, We have a triangle formation and if the price breaks above then it could result an uptrend to 1.2550 to 1.3000. We could also have a close look at the RSI where it completed the prior low with bullish divergence. It will be a If then theory, If we have a good close above the triangle then we can surely say its going to upside :) Target is the old support which became the resistance. Lets wait and watch what happens. Please share your thoughts.
by Trader-Mick
25
Bullish Near-Term Setup In Wells Fargo SharesToday, 10,000+ WFC Mar 20 $56 calls traded with the vast majority being bought for $0.35-$0.45 each, against no previous open interest. For every put that traded in the session, 2.5 calls traded (18,568 total). Talk of a Fed Funds rate hike later this year is bullish for financial companies like Wells Fargo and the stock remains relatively inexpensive. WFC trades at a P/E ratio of 13.25x (2015 estimates), P/S ratio of 3.42x, and a P/B ratio of 1.70x. The top line is projected to increase 3.9% this year and accelerate 6.1% in 2016 ($93B). Looking at the daily chart above we can see another 1% or so rise in shares would confirm a technical breakout (confirming the fundamental analysis and options activity). A low risk way to play it would be via Mar 20 $55 or $56 calls or via longer dated bull call spreads (July $55/$60 call spread) for a favorable reward/risk ratio to the higher $50's/low $60's.
BATS:WFCLong
by MitchellKWarren