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BTCUSD in reversal SHORTBTCUSD on a 60-minute chart had been ascending in a channel but now has broken down and has dropped below the channel support trendline. As to whether it will retest that trendline which is now resistance remains to be seen. However, the MACD lines are under the zero level and RSI lines under 50, lends support to a reversal at this time. Volatility is contracting and price compressing in a symmetrical triangle with the bias bearish at this time.
BITSTAMP:BTCUSDShort
by AwesomeAvani
CADCHF - Perhaps another leg higher?CADCHF - Perhaps another leg higher? CADCHF Checking higher timeframes at key support of weekly, monthly and daily we've got range breaking out, further upside could take us towards 0.70500 areas. However, keep in mind if we go back within this range I'd be re-thinking core long on CADCHF We had CPI came in as estimate, it wasn't a major move we headed to the direction we are heading in all markets, dxy heads lower etc. The trend is your friend, until it's broken. Great traders I network with via twitter gave me amazing advice, a great trader and personally a mentor to me stated "Never met a legit millionaire who is out there bringing people down" . And it's true, every successful trader I've surrounded myself with are open to discuss market moves, psychology aspects and they aren't selling scams via a telegram, not become a social media guru to gain lot of followers. The right traders they helping trading communities grow in a correct manner. Have a great weekend, Trade Journal
by Trade_Journal
1
LULU: Fade the rally!Lulumelon Athletica Short Term - We look to Sell at 329.26 (stop at 346.16) They reported better than expected earnings and the stock jumped up premarket. The medium term bias remains bearish. We are assessed to be in a corrective mode higher. Bespoke resistance is located at 332.00. We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower. Our profit targets will be 284.68 and 272.00 Resistance: 332.00 / 410.00 / 478.00 Support: 283.00 / 246.00 / 129.00 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’) . Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
NASDAQ:LULUShort
by VantageMarkets
GBPUSD - Is it time to FADE?WEDNESDAY - Half way through the week! GBPUSD - I like the long side for GBPUSD for months. It's a great trade that has had great momentum, I stuck to my trade plan, being disciplined is key and built long positions along the way - I am now scaling out of my positions! On my FX weekly I posted out to various groups I am part of - It's FREE to subscribe. It's explaining the FX majors for the week ahead, if you're interested - Message privately. I stated GBP above 1.37 you'll get 1.38 coming into play as well as perhaps 1.40 areas...However, for those who have been trying to fade GBP for while, You may just get your chance...Let me explain further! Technical Aspects: Pattern: Channel - At resistance Fib Retracement - Fade Area Support: 1.37830, 1.37580, 1.37370 Resistance: 1.38250, 1.38550, 1.38600, 1.38860 Fundamental events: 1. US CPI 2. BOE Gov Bailey Speaks 3. Fed Chair Powell Speak How could you play this trade: - Following your own trade plan to add further confluence - You could wait for candle formation, candle close, bearish pattern or perhaps an indicator that is on your trade plan - Add orders at certain resistance zone areas Have a great day ahead, Trade Journal (Disclaimer: Just a trade idea, not a recommendation)
by Trade_Journal
12
BITCOIN TETHER BINANCE 1H BOTTOM ROTATION TRADEStep #1: Wait until Tether Cryptocurrency price moves in a horizontal consolidation After a strong bearish trend wait until the market starts to develop a horizontal consolidation where the price moves back and forth without any clear direction. We need to see a perfect horizontal consolidation as part of the bottom rotation setup. The consolidation is the first price structure that needs to be satisfied for being able to catch a falling knife. During these times of consolidation when the cryptocurrency price moves back and forth the institutional money accumulates their positions. However, before the trend reversal to happen, the smart money will deploy one more trick to fool the retail traders. See below: Step #2: Wait for a fast breakout (clear-out of stop losses) of the support level Right before the reversal to happen, you’ll often time notice a false breakout below the consolidation support level. There is no conspiracy that stop hunting do happen in all markets and this trade setup clearly emphasizes this aspect. Two things happen when we break away from this consolidation, and both things are adding confluence to the bullish case scenario: The stop losses of those who got long off of support will get triggered. New traders will short the market because of the downside breakout. Step #3: The breakout need to be faded at the same speed as the Tether Cryptocurrency Price dropped. The key characteristic of this reversal setup is that we need to see a quick rally after the initial support false breakout. The false breakout followed by the quick recovery should develop a “V” shape type bottom. Step #4: Buy at the first close above the broken support level. You can have a second entry once we break above the top of consolidation. You can buy once the cryptocurrency Tether price closes back above the broken support level. You can initiate a first small position and buy cryptocurrency Tether once we close back above the previous support level. It’s always nice to buy cryptocurrencies at the bottom and see it shoot up. It kind of depends on your trading style and risk tolerance how you manage your trades, but we always recommend on the first initial position to only allocate a low amount of your trading capital. You have to keep in mind that the reversal is completed only after we have a break in market structure and subsequently a breakout of the top of the range. Once we see a break to the upside of that sideways action, the reversal has been confirmed and you can consider this to be a swing trade. Generally, with this situation you can close the initial trade so we can have a risk-free trade. Step #5: Place Protective Stop Loss below the “V” bottom and the Second SL below the Consolidation Bottom The ideal place to hide your protective stop loss is few pips below the “V” shape bottom. For the second entry use a protective stop loss below the consolidation support level. Also, since the first trade is closed once the consolidation top is broken we basically ensure an almost risk-free trade on the second position. We’re going to use the profits made on the first trade to ride the trend reversal. Step #6: Take Profit equals two times the consolidation price range. We use a simple dynamic take profit strategy. We simply measure the consolidation price range, multiply it by two and project that number to the upside to determine out take profit. The easiest way to visualize your take profit level is to simply draw a box around your consolidation and copy paste that box two times to the upside. Note** the above was an example of a BUY trade using the Tether trading strategy. Use the same rules for a SELL trade – but in reverse If you want to read the complete strategy PM me.
Long
by Tradingstrategyguides
Long GBPAUD - Anticipating Good GBP Data NZD has strengthened across the board following the latest New Zealand election poll which places the ruling National Party in the lead with 46% of the votes and Labour behind on 37%. This is to me a much more a local issue and yet since AUD follows NZD closely, GBPAUD tanked too. Fundamentally, I am Bullish GBP and Neutral to Bearish on AUD, I'd like to fade the sentiment. In addition, given the general weak GBP and my expectation that Retail Sales will be a Beat, GBP may have some support going forward. I have not entered yet and will be in around half an hour leading to the event. In term of lined up events, both GBP and AUD does not have much. In term of technical level, I don't think it can go back to 1.72 without more significant news but maybe 1.7 is more achievable. My SL will be below round level at 1.675.
Long
by vietbach1990