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Hourly

EURUSD : late night bear Cypher forming on the hourly Bearish Cypher pattern @ 1.09225 Target 1 1.08933 Target 2 108742 Stops 1.09556 (Based off of a 1.13 fib inversion from the C to X leg) In addition to that, we have other reasons for entry. Not only does the pattern complete in an area where three major resistance levels coalesce (as dictated by the four hour), the overall leg of the move down has a .618 retrace in that same congestive area where the pattern completes. Note the B to C leg pattern and how the pattern is not drawn from the wick down there in this particular instance. That is because according to rules governing cyphers, that actually is a 1.618 extension. However, the pattern is allowed to wick down there, provided it closes at or above the 1.414 which it did in this instance. I predict we will wick to the completion point of the pattern, as price will test this strong area and ultimately get rejected downwards. This pattern has an ugly risk/reward profile, so plan accordingly....
Short
by BennyManieri
EURUSD 60 potential bearish Gartley - continued consolidation ?Depending how the world might react on the failed negotiations between the EU finance ministers and Greece, we could see a completion of this Gartley or not. I will certainly keep an eye on it. I would strongly advise to put the stop above previous breakout - if you don't, stop loss might be hunted and you'd lose out on a nice opportunity. Even with this stop loss, the RR for TP1 is 1.5/1 and >3/1 for TP2. Questions about this setup ? Don't hesitate to contact me. May the pips be with you !
Short
by Nico.Muselle
5
Is AAPL Ready To Continue Higher?If you want to try AAPL Long right here, just use UT 2 (the green uptrend line) as your guide. It could be a short ride but you never know... As long as AAPL is above UT 2, stay the course. But if AAPL closes below UT 2 before you have profits, get out of the trade. Once you have profits you have the ability to make "small adjustments" to trend lines. Just remember to never let a winning trade turn into a losing trade. Today, in the last hour of trading, you will notice the first candle to close above the red downtrend (DT) line. This is your first hint that AAPL may be ready to continue even higher. The Trend Is Your Friend... Until Its Not. I really like trade setups like this. The price moves above the DT line and that leads into a long trade. Nothing is a sure thing but this works many times. The key is to keep your stop tight so you don't lose too much money if the setup was a false breakout. You have to be willing to let the price close below the green DT line on an HOURLY chart if you are using this chart to enter the trade. When the market opens, DT 2 will be about 60 cents below today's closing price. If you want to short AAPL, I would suggest waiting until we get a close below DT 2. At that point you could look for the price to get back to UT 1. If any of this happens, you will be able to draw another red downtrend line as your guide. Trade What You See... Not What You Think, Or Feel, Or Hope, Or ... The Trend Is Your Friend... Until It's Not. ~ Protect Profits & Limit Risk Want to learn more? Check out the blog : trendlineinvestor.blogspot.com
NASDAQ:AAPL
by TheTrendLineInvestor