USDJPY Buy FlashcardUSDJPY Buy - Entry off of double bottom formation with divergence and TDI hook below 32.
- Stop loss below the formation by 10 pips
- Entry at RSI (green) Signal line (red) cross
- Divergence on TDI
- Bullish cycle
- Exit TP 1 @ days initial high
- Exit TP 2 @ RSI (green) cross back under Signal line (red) and TDI hook above 68
- Both exits are the same in terms of pips more or less
Flashnote
AUDUSD Short - FlashcardAUDUSD Short - Direction: In a Bearish Cycle at level 2 on the H1, showing Bearish Momentum on the higher time-frame. Entry: Market Structure looked the same as yesterday and the day before, then gave an M formation entry at the top of the level. Furthermore, candle closed below the 13 EMA, giving me a confirmation. SL @ 17 pips above Trade Open (just above YH), and TP @ 33 pips below Trade Open (just above YL).
USDJPY Long - FlashcardUSDJPY Long - Direction: In a Bullish Cycle on the H1, showing Bullish Momentum in Level 2 of the cycle. Entry: Pins and bounce off the 800 EMA indicated a possible low and after the low was held for over an hour, a W pattern formed, enticing me to enter. In addition, a shark-fin was seen indicating it was going to rise. SL 15 pips below Trade Open (7 pips below current low), and TP 60 pips above Trade Open. The reason for my TP being at this point is because I saw the RSI Line cross the Trade Signal Line, and the RSI Line also did a shark-fin as it was overbought (at the 83).
GBPUSD Short - FlashcardGBPUSD Short - Direction: In a Bearish Cycle as it has not reached the H4 OB, and Bearish Momentum shown on the H4. Entry: RR tracks bounce off the 200 EMA, with divergence. RSI on the M15 also showed that the pair was overbought and was due to drop soon. SL 25 pips above Trade Open (just above 200 EMA), and TP 47 pips below Trade Open (just above YL).
AUDUSD Short - FlashcardAUDUSD Short - Direction: Multi-Session M PFH (peak formation high) on the 23rd-24th, and then 1 vector drop down into level 1. In addition, I see bearish momentum on the H4 and H1 time-frames. Entry: Dotted line on chart indicated the high held throughout the day (as no candle closed above), and the candles respected the 200 EMA, and did not close above it. Furthermore, the pattern shown on the M15 and H1 was a Double-Top formation, which included divergence as shown on TDI, so I entered once the pattern formed. SL was @ 21 pips above Trade open (just above YH), and TP was @ 32 pips below Trade open (just above YL).
USDJPY Long - FlashcardUSDJPY Long - Direction: Has been in a Bullish cycle for 3 1/2 days. Pair was showing bullish momentum on the H1 and H4. Entry: Double Bottom pattern formed at H1 OB (can be seen on the M15). Divergence and shark-fin shown on TDI, with the RSI line also crossing the Signal Line, giving me a confirmation. Furthermore, entry candle closed above 13 EMA, which gave me another confirmation. SL @ 22 pips below Entry, and TP @ 31 pips above Entry.
AUDUSD Short - FlashcardAUDUSD Short - In a bearish cycle on the H1, at level 2, where the momentum is still bearish. Therefore, next possible buy zone is at the bullish OB @ around 0.681. The chart on the M15 showed a Double Top formation indicating resistance (cycle is bearish), as price would not break that point, then the pin off the 800 EMA confirmed the trade which was opened on the M15 for a precise entry. SL was 7 pips above high of the day and 15 pips above Trade Open. TP was 40 pips below Trade Open @ YL.
Caution on BID at current levelsLester Davids, Trading Desk analyst at Unum Capital is cautious of BID at current levels (R303.64)
- Price currently testing overhead trend line resistance
- While we are yet to see the closing price, we currently print a bearish engulfing candle - potentially similar to the prior tests of resistance.
Flash note: PSG GroupFlash note on PSG from our Unum Trading Desk analyst, Lester Davids.
"Around current levels, PSG is showing a technical willingness to break above the resistance level of R235, which is just below the 200-day moving average. The price has started to make higher lows and is trading above the 21 and 50-day moving average, both of which are pointing higher. With the 200dma at resistance, it is possible for the price to re-test the upward trend line before regaining the 200dma."
For more information contact the Unum Trading Desk on +27 (0)11 384 292, tradingdesk@unum.co.za or our real-time chat t.me
Break-out and retest (BAT & LHC)A short technical note from our Unum Trading Desk analyst, Lester Davids.
"On the Brait (BAT) chart, following the test and breakout of the downward trend line, the price has given us a small 3-day pullback, with a positive close yesterday. The RSI is starting to move out of oversold territory so there could be a potential buy/long opportunity on the share .
A great recent example of a breakout and re-test was Life Healthcare (LHC) on the right hand chart."
If you want to chat about these charts, or any local South Africa stocks, contact our Unum Trading Desk on tradingdesk@unum , call +27 (0)11 384 2920 or live chat with us on t.me
Flash note Dis-chem Pharmacies Ltd (DCP)Trade with caution on DCP, warns our Unum Trading Desk analyst Lester Davids!
"The upward price momentum is strong however we trade just above the 200dma as well as at the prior support that was in place from November 2017 to May 2018. We also have an open "gap" at 3525c from the "gap" down on 4-May.
The share now commands a 42 P/E .
I advise caution on any new longs, possible the stock is a pending Short?"
If you want to discuss these trading ideas, contact our Unum Trading Desk on +27 (0)11 3842920 or tradingdesk@unum.co.za