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Bullish Trend Line

EURAUD trading the rejection at the top of the rising wedgeEURAUD is following a rising wedge and the setup of the moving averages also show that there is an uptrend. So why am I planning a short position? The rising wedge is still quite large and this gives the opportunity to try to find a rejection at the top of it, with a great risk to reward ratio. Also, the moving averages are quite close to each other, so with a rejection at the top, the setup could change quite fast, so I wouldn't rely that much on that in this situation. I structured the trade to trade the rejection at the top and also a breakout at the bottom, but I would start to take part of my profits if the price reached the bottom of the rising wedge.
Short
by FedericoSellitti
1
MCD t.a. & set upMCD is showing signs of an overall long-term uptrend pattern, & is currently trading above the SMA200, signaling a possible long entry. On the daily chart, possible cup and handle also forming after a significant pullback occured early/mid September. Also, last session the price opened above, and closed above the EMA21, signaling a potential intermediate uptrend is likely if price continues to consistently close above EMA21 level. Additionally, The EMA5 recently crossed up & above the EMA10, signaling short term bullish momentum. Considering this combination of confirmed and pending signals: A good entry might be; if the price breaks above and closes above the SMA50 level. *another option could be to take an initial entry if Monday opens above the EMA21, and then add to position if price breaks/closes above the SMA50 A stop could be set at: any close below the EMA21 @ -1% A good target exit might be best at: Known resistance @65-70 RSI area, or any close below the EMA10 level @ +4% Risk/Reward ratio optimal @ 4:1
NYSE:MCDLong
by gaaragaara
USDZAR - NeutralWith the National election that is over. ZAR could continue to strengthen against the US Dollar or weaken. It finds itself at a very important support area (14.14000) which is confirmed both with a bullish trendline and also confirmed by the 38.2% Fib levels. If this breaks ZAR could find support around 14.11000 which is the 50% Fib level. For now, we remain neutral. We will enter around late Monday afternoon and will update below. We looking at what price action and the candles will tell us. Should we go long we can expect a 400 pip move until 14.50 and beyond.
by siyakhulafund
ETHUSD possible playsIn this ETHUSD chart based on the Bitmex perpetual swap we can see ETH has been moving in a clear channel for months now. After being rejected at R1, price has trended to test the channel support and forcing it to make a decision. IF ETH confirms a break below the channel support, I am looking to short to the lower blue rectangle (R2) acting as price resistance/support. If we bounce from the channel support I will be watching to see how it reacts with that overhead blue rectangle resistance (R1) and if we can break above it to find the top of the current channel. Interestingly, the 55EMA and the 100EMA seem to be providing some sort of support for the moment, we will see how that turns out. The RSI and MACD seem to be indicating a short-term downward pressure, but without more confirmation a prudent investor would wait to confirm a break-out. Cheers
BITMEX:ETHUSD.P
by Pillarstric
1
USDCHF Short - Probable Trend ReversalWe have seen the intention of the dollar has turned towards a weaker tone last week. USDCHF went into the 3-month supply zone last week and the price fell strongly on Friday. The last bearish daily candle has confirmed a break below of a rising trendline which signals for a trend reversal. Today, the price has retraced consistently and there is a significant resistance seen at 1.0055. The price fell at first and probably has attracted more sellers to join in but as usual, the price took a turn and shot past the 1.0055 level. As these short-term sellers are trapped, most would have their stop losses slightly above 1.0055. So let's just wait out a little longer for the price to climb higher in order to trigger most of the stop losses at the top before we go in to sell again.
Short
by AlgoVenture