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$USDJPY - Watch these levels carefullyHi guys! 👋🏻 🔔 Japan has been showing a steady recovery from the pandemic today’s Trade Balance and Exports data testifies. Battered US Dollar Index also supports the downtrend of the USD/JPY. 🔔 Yesterday’s US Retail Sales, import and export price indexes data announced were below the forecasted, more importantly Core Retails sales (MoM) was 1 bp lower than the previous month’s 1.2%. 🔔 On a daily USD/JPY we can witness a downtrend channel that the pair follows. One of the important metrics on this chart is that the MA100 acted as a resistance on November 11, when USD/JPY hit the upper edge of the channel. 🔔Important levels to watch are $103.70, which is a static and dynamic support on a 4H chart, closing below this level will be a ground for another round of sell-offs down to $103.166. 🔔 On both Daily and 4H charts, Moving averages act as resistances and MACD indicates bearish continuation.If there are no tangible signs of economic recovery in the US and the spirit of “uncertainty” remains, the US Dollar against the Japanese Yen might as well plummet further to near year’s minimums at $101.747.. ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
Short
by azizelliott
$10+ Target for MPLN Post-ShortI have not taken a position on $MPLN given I like fast growth stocks, however this looks quite interesting. This stock has recently been institutionally shorted and in a way kind of hammered by a small blog/activist firm. Now, $MPLN is about to release earnings extra early tomorrow. This might be a good buy entry opportunity. I do think a possible short squeeze can happen given what the market's reaction was today. That said, do your own due diligence, proceed with caution and invest at your own risk. Everything I say is on an opinion based basis.
MLong
by gamer456148
2
Golden Opportunity End of October Missed, Resistance BreakoutI missed a golden opportunity for the end of October for a resistance wedge breakout. This was after my September bearishness, and the case for September was there. That said, it looks like a continuation of a bullish pickup and support pattern have been happening. The last few weeks, I have been doing the occasional watching from the sidelines and am seeing sentiment pickup especially given earnings. That said, invest at your own risk and do your own due diligence. Please consider everything I'm saying on an opinion based basis.
NYSE:XPEVLong
by gamer456148
Learning to trade the Head And Shoulders Pattern with Bitcoin.The Head & Shoulders Pattern & Inverse Head & Shoulders Patterns are quite common on Bitcoin and have had great results on the higher timeframe charts. Here are the main characteristics: • VOLUME MIMICS PATTERN • 3 PEAKS, LEFT & RIGHT SIMILAR HEIGHT • TRIANGULAR IN APPEARANCE • FOUND AFTER UPTREND • HIGH SUCCESS RATE • CAN BE SLANTED Price forms 3 distinct peaks after a strong uptrend, the left and right peak should have a similar height (shoulders), the middle peak (head) has to be the highest or this can not be a HS pattern. They should seem triangular in appearance but as long as it fits the main characteristics can still be a valid pattern. The right shoulder should form a lower high which is a early sign of trend change, this is entry A, with entry B being the bearish retest of of the “neckline” (marked on chart #2). The idea is to gain an early entry on the pattern at point A to maximise profits and reduce risk. Once price moves above the middle "peak" it is likely that the pattern is not valid anymore so this allows us to get a tight stop loss upon entry. We measure the height of the pattern and add it to the breakout level for a maximum possible price target. Volume should also paint the same pattern with the 3 peaks, strong volume on breakout increases success rate. In this example on Bitcoin earlier this year it played out perfectly, hitting target, when having another great short opportunity on the Bearish Retest. A bearish retest is just a Support & Resistance flip off the pattern breakout level. After the pattern played out we also saw one more great opportunity with General Pattern failure. What is General Pattern Failure? General Pattern Failure occurs when a chart pattern breaks out, fails to hit target, quickly reverses then rejects off that same breakout level back inside the pattern continuing in the opposite direction of the breakout. Pictured above in the original post is a normal breakout on a Head And Shoulders Pattern while the lower example shows General Pattern Failure on the same pattern. Note how the first example has a Bearish Retest (B) while the second example is coming back inside that area and finding support for a potential long setup. (The below chart is the above example continued) General pattern failure can also be considered a Liquidity Grab or can be referred to as a “Fake Out” also when it happens more rapidly after the original pattern breakout. Learning to trade patterns such as these can provide great opportunities if you understand price action and how to identify the key areas of the pattern that other traders and investors may be focusing on too, these areas become important psychological levels on the chart.
Education
by Worth_The_Ri5k
AUDNZD, price broke Desc. channel, buy trade for 100 pipsPlease Support this Idea with LIKE if it is Useful.... AUDNZD The price is trying to break above the descending trendline, If price manages to break the trendline then after a retest if price holds the support I expect the price to grow. Push LIKE & SUPPORT the Idea... *The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions
Long
by Stargazer_fx
7
EURUSD broke below Asc. channel, Sell the pullback for 150 pipsPlease Support this Idea with LIKE if it is Useful.... EURUSD The price broke below Ascending channel and is also below support structure, after a pullback to the support turn resistance If price shows rejection from the from the structure I expect the price to continue lower... Push LIKE & SUPPORT the Idea... *The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Short
by Stargazer_fx
1
GBPJPY, price broke below support,Sell the pullback for 180 pipsPlease Support this Idea with LIKE if it is Useful.... GBPJPY The price broke below support structure, after a pullback to the support turn resistance If price shows rejection from the from the structure I expect the price to continue lower... Push LIKE & SUPPORT the Idea... *The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Short
by Stargazer_fx
2
EURGBP, Buy the trendline breakout, +100 pips tradePlease Support this Idea with LIKE if it is Useful.... EURGBP The price is trying to break above the descending trendline, If price manages to break the trendline then after a retest if price holds the support I expect the price to grow. Push LIKE & SUPPORT the Idea... *The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions
Long
by Stargazer_fx