EA Weekly Head & ShouldersLooks like EA is forming a weekly H&S with a neckline at roughly $105.50 and with the shoulders and neck at about $116 and $122.75, respectively. A few notes on the formation are listed below:
1 - The beginning of the H&S formation shows strong volume on the way up, as a good H&S pattern should, which subsides as the head is formed
2 - The fall from the neck is on strong volume, with the bounce off the neckline showing lower volume (the creation of the right shoulder).
Note the RSI, CSI, and Stoch, all moving lower even though the formation is moving relatively sideways (or up if looking at the left shoulder to head).
The black lines at $91.75 and $75 are my target points should EA complete the H&S pattern and break below the strong trend line that begins (on my chart) in July of 2015.
EA
52 : Head and shoulder, but....I sell it , but after few hours, it's going up.
Now i must decide how to do
First, if i get out this trade, i just break even or
Wait it as planned, but the stop loss is too far.
I seeing that RR is still high, so i will find the entry point ,that make RR is ok for me.
EA - Inverted Fallen angel formation short from $109.87 to 100 EA seems breaking down from an upward channel formation in the weekly frame.
It also seems making an inverted fallen angel formation. We think it has huge downside potential if it breaks its channel. To trade this we would consider January $100 Puts are, trading for $1.70
* Trade Criteria *
Date First Found- October 23, 2017
Pattern/Why- Inverted Fallen angel, Upward channel breakdown short
Entry Target Criteria- Break of $109.87
Exit Target Criteria- 1st Target $100.37, 2nd Target $78.33
Stop Loss Criteria- $115.87
Special Note- Would consider January $100 Puts, which are $1.70
Please check back for Trade updates. (Note: Trade update is little delayed here.)
EURAUD - BOUNCE OF THE ASCENDING TRENDLINEEURAUD made new HIGHER LOW and had a third bounce of the daily ascending trendline.
Confluences:
3rd bounce of the daily trend line.
78.6 Fib retracement.
Double bottom on H4 with bullish rejection candle
H4 CTL Breakout and retest.
Inverted Hammer on Daily.
EURAUD Short to 1.4174I've opened a short term sell position on EURAUD. The four-hour candle formation is bearish, MACD near ready to cross, and RSI overbought.
Open 1.42565
SL 1.43030
TP 1.41740
Take profit is located at the 0.382 fib and are or previous resistance (now support). Sl is located above previous high.
Good luck!