AUDUSD: Potential Long At Structure? Hi Traders,
We can see that from the initial low put in early last month AUDUSD has been in a bullish rotation. The structure zone of 0.7160-80 has been respected on a number of tests recently. Therefore I think it provides a good trading opportunity with a decent R:R. For anyone trading Aussie this week keep in mind we have RBA rate decision tomorrow (Tuesday) and Trade Balance on Wednesday during the Asian session, also let's not forget about NFP on Friday.
See chart for long setup.
Alternatively, if you have a bearish bias on AUD and prefer to look for selling opportunities.
A breakout below 0.7150 with stops above 0.7180 looking for targets of 0.7080 and 0.70250 is a good way to express that bias.
Highs
MACRO VIEW: NATURAL GAS RANGEBOUND TRADINGNatural gas is trading sideways within 1st standard deviation on quarterly basis (in relation to 66-day mean) since May 2015.
This creates good trading opportunities for those who know how to deal with the lateral chop in the markets.
Within compressing volatility (measure by 3.2 st deviations from the same mean), traders can pick longs and shorts toward the mean, when price approaches the 1st standard deviation from within.
Stops should be placed a bit beyond relevant highs and lows, tagging of which will hint that a leg of trend is actually in the cards.
HMNY Bullish on CCI crossupThe CCI crossed above +100 in the last couple of days, and this is a good way to find stocks that are in the beginning of strong moving trends. The CCI has also reached an all time high, extremely bullish, and the price has gapped up over previous highs turning those areas into support.
When the chart is moving fast like this, using the previous highs that are lower than the current price as stops, is a valid way to anticipate trade reversals and lock in gains. If the chart breaks out to new highs above all previous highs, then switch to using previous lows as stops including considering upwards diagonal lines. This is an excellent way to manage and keep trade risk to a minimum while enjoying continued high percent gains.
Placing stops with the price structure that the chart gives you can provide better risk management, than trying to conform all charts generically to an indicator stop or value that is derived from price instead. Support and resistance lines do not change, but indicators do.
Jack In The Box - JACK - Daily - Big Breakout here, 52 week highNot many stocks on the 52-week high list today -
Qdoba seems to be just getting some attention; likely from CMG investors who are rolling funds out of CMG and into JACK.
Great action. Great chart. Great upside potential. Risk to $64, Upside to $80-$90. Subscribe to this chart or Look for follow-up charts with upside targets.
Tim 2:09PM 10/21/2014 69.44 last
USDCAD continues upward march - how to manage your tradeI wanted to share this trade idea because its a great example of how to manage your trades once the market moves in your favor.
Notice that since I got in a big hurry to get in this trade, my entry, while decent, could have been much better. If I had just waited a few more days with a nice limit order sitting on the red sliding parallel, then I would have had an outstanding entry location with an extremely small stop. Well...make a better plan next time and deal with this trade now.
Now that we have formed a nice new swing low as price is climbing upward, I can move my stop upwards to the red line at 1.0905. When another swing low forms and its confirmed by taking out highs, I will move my stop up again below that.
I'm also working my profit target order upwards along the upper channel as price moves to the right on the chart.
Some basic info on making your trading plan and sticking to it: www.itradingforex.com