GBPJPY Short 12.2/1The Pound had a decent 2020 year, outperforming the Dollar despite uncertainty of Brexit and large relief payments made to their citizens. As it approaches
it's 2020 highs, a correction makes sense. This short is a play on break of structure which I expect would cause a lower swing.
Lowrisk
BTCUSD 7.6/1 RRCOINBASE:BTCUSD looks about ready to move back up. For many investors these low swings have been a blessing in disguise and there is no drop that isn't quickly met with a sharp rally. Bitcoin has been searching for a floor, slowly making new lows but 34k has been manipulated heavily and there seems to be no reason that bitcoin couldn't crack it, but I do not believe there is enough supply in the market for it to achieve such a feat again. I could see it rapidly making its way back up to 35k and potentially clawing back up to 40k if the conditions are right.
Low Risk Weekly DIA Credit Spread (5% gain on capital invested)I'm looking to enter a Put Credit Spread on DIA with the goal of collecting $5-$6 worth of credit per contact with a $1.5 wide spread. I'll be holding till DOE with the intention of growing capital invested by a minimum of 5% for the week.
-Current price is: $308
-Credit spread sell strike: $290
-Current price to sell strick: 6.2%
-Is price trading above 50 day SMA?: Yes
-Is price trading above 200 day SMA?: Yes
-Percent OTM if held to DOE upon entering, is: 92% - 94% of being OTM if held to DOE
-Technical analysis: DIA is trading above 50 and 200 day SMA which signals that we are in an uptrend. Our sell strick has been placed below .382 (292.5) fib retracement level. This price zone has held as support in the past I'm looking for it to hold again this week.
Let me know what you think. Have a nice day.
Low Risk Weekly DIA Credit SpreadI'm looking to enter a Put Credit Spread on DIA with the goal of collecting $5-$6 worth of credit per contact with a $1.5 wide spread. I'll be holding till DOE with the intention of growing capital invested by a minimum of 5% for the week.
-Current price is: $308
-Credit spread sell strike: $290
-Current price to sell strick: 6.2%
-Is price trading above 50 day SMA?: Yes
-Is price trading above 200 day SMA?: Yes
-Percent OTM if held to DOE upon entering, is: 92% - 94% of being OTM if held to DOE
-Technical analysis: DIA is trading above 50 and 200 day SMA which signals that we are in an uptrend. Our sell strick has been placed below .382 (292.5) fib retracement level. This price zone has held as support in the past I'm looking for it to hold again this week.
Let me know what you think. Have a nice day.
Low Risk Weekly SPY Credit Spread I'm looking to enter $357 SPY spreads and holding till DOE on the 22nd. I'm aiming to collect 5-6 credits per-contract with a goal to grow capital invested by a minimum of 5% for the week.
-With the SPY trading at roughly $375, we would need a -4.8% move to the downside for the week for the price to come down into the range of our strick.
-Price is trading above the 50 and 200 day SMA
-$357 is below the 50 day SMA.
-Strike is in the zone on .382 fib retracement zone for 52 weeks high and low.
-In the zone of support on 4h chart.
-91%-93% of OTM if held to DOE.
Let me know what you think. Have a nice day.
Buy NZDUSDAfter one shoulder, head, shoulder the NZDUSD has completed this end of the second shoulder over the resistance that of 0.7005-0.7020. After such a continuous fall and after not being able to overcome this resistance we can only expect a price increase of at least a few pips. However, it would have a fenced SL since always in operations of this type, some risk is assumed, it remains to be aware of the macroeconomic calendar to finish knowing for sure the trend, but everything indicates that it will suffer a small correction.
I hope this analysis will be of great help to you and any suggestions do not hesitate to let us know
Signed by: FxProfitSignals Group
Translated with www.DeepL.com (free version)
Danone, Quick Trade or Long-term Buy. Both work here.EURONEXT:BN is showing signs that it has already bottomed out and on its way up. We have a relatively safe trade here.
RSI divergence suggests a reversal of trend. It suggests that the low of 29 October 2020 at €46 is the lowest Danone will reach in the short- to mid-term (few months).
An ascending triangle is showing upward momentum. This suggests a target of €60.
At €60, we see strong resistance that has contributed to major reversals in the past. So that's a line to watch. I suspect a reversal at this line back to the top of the triangle.
Just above the €60 line is the 50% Fibonacci level from the recent swing. Crossing this 50% Fib indicates a stronger probability of returning to the swing's top rather than its bottom.
If the resistance at €60 is crossed, then it's a very encouraging sign of the bullish momentum and we set our next target at the resistance above at €65.
The trade should go like this:
You should go long as soon as the triangle breaks upwards, and set a stop loss at either €51.50 or €50.50 depending on your risk appetite.
If the first target of €60 is reached, then we raise our stop loss to the top of the triangle or slightly below it, perhaps at €53.50
Once we cross the resistance at €60 by a full daily green candle above it, we raise our stop loss to that level.
Cheers.
GOEV Support Level$GOEV seems to be holding pretty well above the $14 support level. With the craze for EV and Canoo providing eye-catching solutions in the EV world, this might soon start going up again. A possible swing trade will be around $14ish with a stop loss at around $13.70ish and a take profit at around $20 - $24. Once it reaches this level, look for strong catalyst and volume to keep going for new highs.
VUZI Consolidating Pretty WellVUZI is currently in a consolidation and is looking pretty positive. With all the news surrounding the company and its smart glasses being used by more and more companies, it's highly likely to start going up. A safe long position here (according to me, and I can be wrong 😅) would be to $4.50 - $4.75 with a stop loss at around $4
RELIANCE seems oversold pre-earnings release. Great potentialReliance RSI has approached nearly the COVID bottom. It had bounced up over 1200pts when it reached these levels the last time. If buyers step in, we may see a new base being formed.
The stock has been a favourite for investors so far as it's given short-term returns that midcaps & small-caps can only dream of. In fact, it was one of the fastest recoveries from COVID lows to an ATH.
After breaching 2300, RELIANCE hasn't had enough steam to continue its rally despite several important supports. This may be due to the overly positive sentiment earlier.
That combined with unfavourable news & uncertain business dircetion + no new exciting trigger, stock prices have come down ~10% from highs. But this also begs the question – is RIL forming a base? According to RSI, another 2000 retest may bring momentum to COVID selloff levels without any massive trigger or global selloff.
This may make it a good low-risk pick as the stock seems fundamentally strong.
CHF/JPY At Key Daily Support For UpsideHello Fellow Trader!
CHF/JPY has made 114.000 a potent level for change in price behavior. It also collides with the 33 RSI band which since August has been the true oversold support level.
The base of a wedge provides us defined entry focus and stop levels we can hawk and enter at a a superior reward to risk ratio. IF: CHF/JPY fails 114.000, the next support level on daily would be the 200 EMA.
Key Points:
- Daily – 33 RSI level seems extremely sensitive at any major drops. Indicates oversold region for CHF/JPY
- Daily – 114.000
- 1 Hour - Price holding below the 200 EMA - Caution
- 1 Hour - Price hugging below the 50 EMA – Watch to reclaim above
- 61.8% Fibonacci support at current price using last major impulse.
- Crossed 4 - Hour trend line
- At wedge base – Wait for BULLISH CANDLE REVERSAL!
Key Levels:
Support – 114.000. 113.700
Resistance – 200 EMA, 115.150, 115.730
Entry Zone:
Optimal entry provides the greatest reward to risk ratio while supporting entry is a zone for reversal signals.
Optimal Entry – Base of wedge – 114.000
Supporting Entry – Break of wedge – 114.25
Candle Reversals for entry
- Bullish Hammer
- Bullish Engulfing
- Bullish Piercing
The Risk:
As traders, it is your job to mitigate the risk and only trade structures that provide high probability and great reward to risk ratios.
If you are not comfortable with defined exit levels, experiment with Moving Averages to help set solid exit rules to protect your capital.
IF: Price breaks below 113.68 – this would suggest the structure is not in our favour and would be wise to reduce exposure or close the trade until a solid signal gives us reasons to re-enter.
Reward / Reward Targets:
Optimal Entry 114.000 – Target 1 115.150 = 3.6x Reward to Risk
Optimal Entry 114.000 – Target 2 115.730 = 5.4x Reward to Risk
Supporting Entry 114.25 – Target 1 115.150 = 1.6x Reward to Risk
Supporting Entry 114.25 – Target 2 115.730 = 2.6x Reward to Risk