TSLA long idea.Tesla took a pounding today with the earnings loss which is a good thing if you are looking to buy because the stock is becoming cheaper.
I don't normally use Fib projections but 1.618 nicely aligns with the rally base rally demand zone (@ $282) which I project the price will bounce off of. If this fails then we have a drop base rally demand at $254 which could produce a bounce.
Denisristicfx
US30USD4H momentum broken on US30USD with removal of one demand zone, today's move erased previous day's gains.
To hop back on the trend, I anticipate a retrace back down to 23078 for the next leg up (daily demand zone) if the Dow has any more steam left.
As always, don't risk more than 2% per trade and set your stop losses to protect yourself. Also remember, this business is probabilistic not personal or absolute in any way.
USDCHF short ideaUSDCHF has been rallying and in the process removing supply and creating demand. Price is getting high on the curve so taking long positions is becoming less and less favourable.
We have a powerful rally base drop at 1.0050 with a strong takeoff and the imbalance created is favourable.
I am looking to short 1.0050. However, before we get there, there are a few drop base drop supply zones which price will need to get through, expect some seesawing to happen near the two lower levels.
Target for the short is 0.97500.