AUDUSD [1-3 days view]Entry: 0.71465
SL: 0.7185
TP: 0.705
This trade was knocked in this wed (27th Feb 2019). The reasons why I went short is listed below:
Whilst market reacted above the ascending trendine support (in red), it failed to surpass resistance at 0.72100
Market then broke below ascending trendline support and also spiked below 55 period EMA
At the same time, MACD showed a 'death cross' and also broke below '0' meaning it has entered bearish territory.
This week has not been an easy week! But still keeping my eyes peeled open for more opportunities!
Charting
EURUSD [1-3 days view]This was quite a simple set up though admittedly, the risk reward wasn't great. However, when presented with an opportunity, I will grab it.
Here i saw market reacting above ascending trendline and also holding above EMA34. MACD was also in a bullish environment. Market was also testing a very key long term trend level at 1.135.
I set my entry at 1.13525 and waited for the 2nd pullback and retest of the trendline. Pullback happened exactly as expected and knocked my position in.
1.14 price target is actually based on fibo retracement at the 61.8% of the previous downswing.
Market hit target exactly and closed this position with a profit of 47 pips. With this much confluences, wouldn't you take the trade too?
AUDUSD [1-3days view]1st Short AUDUSD
Entry: 0.71635
SL: 0.7215
TP: 0.7020
Short order was triggered yesterday after market pulled back to the descending trendline resistance (dotted line).
Market however surpassed this line and seemed to be heading for a bullish breakout... However, it reacted just nicely below the resistance at 0.71852 (thick neon blue line) to form the right shoulder... despite the spike, my position was not taken out and I held onto it.
Here we see that a head and shoulders patterned has formed. The right shoulder being classically lower than the left shoulder.
Market is also now below 55 period EMA.
Market then puked further making my position extremely profitable after one whole day of waiting. I moved my trailing stop lower to protect profits. My trade is now risk free and profitable. Will look to scale in to this trade when possible.
GBPNZD [1-3 days view]Short GBPNZD
Entry: 1.90535
SL: 1.91
TP: 1.855
Entry was triggered overnight due to the spike, which also coincided with the pullback towards the descending trendline resistance.
Now market reacting below the descending trendline.
Bearish divergence noted on 21 period RSI
RSI also reacting below descending trendline resistance where market reacted in the past.
Because of the quick move in my favour, i moved my trailing stop lower to protect profits and this trade is now risk free.
EURAUD [1-3 days view]Short EURAUD
Entry: 1.558845
SL: 1.593
TP: 1.578
Market initially spiked up and triggered my entry position before making a pullback below descending trendline resistance.
Market also holding below 55 period EMA
MACD below 0 level showing that we are still in a bearish configuration. This is a short term trade.
This is a follow up from my previous trade...
EURAUD [1-3 days view]Short EURAUD
Entry: 1.558845
SL: 1.593
TP: 1.578
Market initially spiked up and triggered my entry position before making a pullback below descending trendline resistance.
Market also holding below 55 period EMA
MACD below 0 level showing that we are still in a bearish configuration. This is a short term trade.
This is a follow up from my previous trade... I waited for the pullback to re-enter the short....
AudChfA potential short opportunity on AudChf. Price has been sold off on the Daily time frame and hitting the next key support zone. What I will be looking for is some deceleration and slow down on the Daily chart along with the 4 hour. I would like to see a double bottom pattern form on the 4 hour chart for conformation of a reversal, along with a break and re-test of the 1 hour chart. Before looking to go long I would also like to see it line up with any fib zones for extra confirmation of a trend change. The more confluences the better!
Cinnamon Toast Crunch - S&P 500?I come from a strict crypto technical analysis background but it doesn't take much to accept that this trend is TOAST.
1W cloud wasn't able to hold, so what are you waiting for? this is not a dip, this is a dump. I believe the crypto space will follow s&p's next move as well.
*not financial advice
BAC i missed this put opportunity!!TRADE TIMELINE 12/01 - 12/14
I wanted to share this missed put play i charted. it was on my radar, i simply was looking elsewhere. Time to find another one.
12/01 POSSIBLE OPTION PLAY
BAC 12/14 26.50 PUT 0.12
IV 32.58% Volume 41 Open Interest 726
The market is giving away put money, and won't stop....
At the time of this publishing, 12/11/2018 2:55PM, this option is now worth 1.92 !!!!!
As we all know, $0.12 = $12.00 and $1.92 = $192
DXY Previous idea invalidated. POSSIBLE RETRACEMENT SETUP.My previous DXY Setup invalidated since it broke below 0.618 fibonacci retracement levels. Will be looking for a bounce back up to 96.40 levels before heading back down. Could potentially see DXY head back down to 94.00 regions. That would mean that most major pairs such as EUR/USD, GBP/USD, AUD/USD could see potential long opportunities these weeks.
Always remember that structure takes precedence over fundamentals. Fundamentals coincide with structure.
Its Time to Start Thinking LONG on ETH/USDTHere's an easy setup for a 25%+ profit trade. If the market turns bullish look for a quick ETH/USDT rally to around ~$300 or so. Don't get greedy, take some profits at $300 and be happy. No one ever went broke taking profit. Look for confirmation in the form of the entire market moving up 5% or so in one or two daily candle sticks before getting in.
Disclaimer: This is not financial or trading advice.
Basic Technical Analysis 101SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Basic Technical Analysis
Interpreting the candlestick
This type of chart is an extension of the bar chart and is actively utilised by the investors in China for more than 500 years of time period. It helps in providing the information regarding open, close, low and high in the dimensional format. It can be seen that the vertical axis of the chart helps in providing information on the prices of the FOREX whereas the horizontal axis represents the time period. The green candles are the representation of the advances of the currency and the red candles, on the other hand, represents the decline in the value of the FOREX. Moreover, the body denotes the thick portion of the candle, and the vertical line represents the wick. This chart helps the investor to forecast the future price movement of the FOREX.
Charting systems
In the mind of a few people, charts are the exemplary image of the trader’s speciality. The experienced eye can make ups and down. Charting is a questionable piece of the fund. Future research is probably going to reveal things about outlining that would amaze people today. All things considered, even individuals who eagerly restrict the training are ought to be acquainted with the essential techniques of charting.
SUB Blastoff IncomiiiiingSome charts don't need explanation. SUB is one of them. It's a mega pumper waiting to happen. Obvious place to set a stop loss.
TRTC Primed for Breakout and Mega PumpPot stocks can pump like there's no tomorrow. TRTC never had its big pump. I hear fundamentals are good. Sitting at long term support with a fantastic r/r.
Monero shakeout then breakout?Positive market sentiment combined with bulletproofs. XMR been dancing at support. Whales accumulate. One last shakeout before an uptrend.