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Mediumterm

Medium-term Bearish Gartley on EURGBP (250 pips)Hey all, I've mapped out the potential completion of a bearish bat pattern that should signal a reversal for this particular pair. I'm setting the entry just beneath the 0.786 level of the larger Fibonacci retracement so that the movement can be confirmed to be reversing. Following the entry, we have 3 potential target areas that the price might be headed towards: The first is derived from a strong monthly S&R level and the 0.236 level of the smaller Fibonacci retracement. The second area is the one that I'm hoping the price will hit simply because it combines both local Fibonacci retracements as well as a solid enough daily S&R level. The third target area is a bit of a long-shot but it does feature several significant points of interest so I'm including it here as a potential bonus. Setup Entry: 0.86987 TP: 0.86639, 0.85562, 0.84880 SL: 0.87192 (This might be a little too tight for some people, so you can just set it above the D leg completion if you want)
Short
by Cohiba93
Rising Wedge and Potential Double Top on EURJPY (420+ pips)Hey all, what we have here are signs of a potential rising wedge formation on EURJPY due to the higher highs and higher lows being formed since the 18th of May. Fibonacci levels applied on a larger timescale seem to show the price working well between the 0.5 and 0.618 levels - an idea supported by the recent rejection of a new high on the 16th and on the 24th. If the pair adheres to the rising wedge formation, we can assume that it will hit at least 3 different targets: Target 1 is a relatively new S&R level that seems to have formed at the beginning of May, Target 2 is a strong S&R level that stretches back a few months and happens to coincide with the 0.382 fib level of the yellow retracement lines, and finally Target 3 which is the area between the 0.236 fib level and the price where the rising wedge originated from. In a longer-term view, we can see a double-top forming following a price rejection at 125.82. In keeping with how I usually approach double-top formations, there are two targets: A conservative target that is placed at the neckline and an aggressive target that is equidistant from the neckline. Despite all this analysis, the consensus on the Euro remains bullish. However, now that the French elections are behind us we can position ourselves quite nicely if the Euro ends up cooling off and losing momentum. In the event that it stays bullish and breaks through the 125.82, we have a simpler play worth about 65 pips which should tide us over until things clear up. Rising Wedge Play (Medium Term) Entry:124.965 TP: 124.554, 123.813, 123.355 SL:125.643 Double Top Play (Long Term) Entry:124.965 TP: 123.074, 120.704 SL:125.643
Short
by Cohiba93
3
EURGBP Medium term support for bullish positionThe EURGBP has just respected a very old and solid looking support level (label A). This level has been respected four or five times since July 2016. This level suggests buying positions. The upper descending trend line (label B) suggests resistance points. Using those levels as entry and exit points with a stop loss just below the lower extended support line (A), suggests a trade with a Risk:Reward of 4:1 Further to this the RSI is suggesting oversold levels and has been relatively accurate combined with the level and trend support and resistance.
Long
by Quadricolor
GBPNZD SHORT SETUPGBPNZD Has the moment arrived? it looks like the GBPNZD has formed a nice setup to short. The end of wave C is close, maybe already finished. Anyway we can see that it has formed a double sealing in a hard connalty resistence in 1.88770. Tendence going down quite close from were we are now. Did I mention RSI is already overbought on W1, D1 and H4? We aim to get really down away to 1.68281 and more, or at least thats what we want. Think its only matter of time, wait for some detonator, maybe french elections? Comment if you think this trade worth it or send me private messege. Greetings! Nice Trading!
Short
by juancue
Double Top Formation on USDCAD (250+ pips)Hey all, big trip coming up this week so I decided to post this idea a little earlier. If you've been following some of my ideas then you'll know i'm a big fan of this pair - even if it hasn't been too cooperative with formations. I've noticed the USD settling in following Trump's presidency (despite the odd statement that makes it go haywire), so here I'm speculating about an apparent Double Top formation that may ultimately drop to the 1.32 mark. Target 1 here can also double as a more conservative entry as I expect there to be some extensive consolidation here (marked by the ~ sign) which falls in line with data going back to last year (The S&R level also lines up with the Fib Retracements). Target 2 is a little more lenient as the entire blue rectangular area has seen consolidation, so it all depends on how aggressive you want to be. Target 3 is the neckline, and if you are very conservative, this would be your preferred entry point which would still net you a few pips which are all but guaranteed if the price hits this spot. Finally, we have Target 4 which is the upper limit of an Hourly S&R area and where you should be aiming if you want to ride the entire wave down. Of course this is all for naught if Kashkari's speech on Monday is bullish on the USD, but if it isn't then we can see the drop happening about as fast as the one on the 15th of March. I personally do not like uncertainty regarding the news so I'm going to hold off on trading this until at least after Monday - even if it manages to hit the entry before. As always, this isn't the gospel so make sure to take the necessary precautions when trading!
Short
by Cohiba93
2
NZDCAD Poised for Breakout (450+ pips)What an ugly chart! I'm still waiting for a few ideas to hit their particular orders - and this is one of them. What we have here is a descending channel within a larger ascending channel. These are particularly great because you know for a fact that it's either going to bounce off the channel wall and push up or break the channel for a huge dive. As always, I like to play the odds so I'm going with the former. The price has already bounced off the wall but I'm still waiting for it to break the descending channel, because it still has the opportunity to go back down and bounce up again like we saw in May 2015. If it breaks we can expect it to hit 3 targets, the first of which is supported by the 0.236 fib retracement (which it's been adhering to judging by the 0.382 level as well). The second and third are very strong S&R levels that have been hit multiple times over the past few years. The question then becomes: What happens if it goes past Target 3? The high that we saw in November 2016 is an all-time high, so passing it means we'd be in uncharted territory. We can assume that the price will at least test a new high at that point - even if it might not break through. Setup Entry: 0.93726 TP: 0.94418, 0.95654, 0.96321 SL: 0.93305 or 0.92415 if you're confident in the double bounce. Always be sure to take the necessary precautions when trading!
by Cohiba93
EUR/USD might be setting up for a short opportunity near 1.08500Looks like the EUR/USD gaped up when opening this week. This calls for a need of extra confirmation before entering this trade. From a technical perspective, the EUR/USD 0.30% ran into a strong area of resistance where sellers came in strong in the past. On our higher time-frame (4H), we can notice the EUR/USD 0.30% putting in an ascending triangle pattern coming in from a downtrend. We will enter this trade upon having extra confirmation that the resistance zone holds and upon seeing buyers fail. We need at least some clues that tell us the market isn't putting any new higher highs and higher lows before looking to enter. Risk-management opportunities for this setup are plentiful. Our trading plan specifically states that we will be sizing into this trade once price breaks below 1.07600 while trailing our stop above break-even. We have to be careful how we will be sizing in since our trail-stop placement still has to make sense from a technical perspective. One can also shoot for extended targets once full position size has been achieved and stops trailed above break-even for a risk-free trade.
Short
by V4nsceaux
Ascending Channel Predicts Medium-Term Long on USDCHFWe can see that this pair is hitting a key point in the ascending channel illustrated above where we can make a significant play of over 100 pips. This is supported by the formation of a bullish butterfly pattern on the 4h timeline. The yellow line is where I expect there to be slight consolidation before continuing its uptrend motion to the target marked by the blue-line which is a significant S&R level. Setup Entry: 1.00818 TP: 1.01969 SL: 1.00659
Long
by Cohiba93
Potential Bullish Butterfly Pattern on CADJPYAs the title suggests, the formation of a bullish butterfly pattern seems to be very likely. This is especially true as it complies with the bearish overall pattern (marked by the orange lines) as well as strong S&R levels at points C and D. Obviously, we have two moves here: a conservative approach and an aggressive approach. The aggressive approach involves riding the wave up to point C then selling accordingly. Entry: 86.113 TP: 87.463 SL: 85.598 The conservative approach only involves selling when the price hits its peak at C. Entry: 87.424 TP: 84.32 SL: 87.716 As always, this is merely the result of my own personal analysis and this idea may be completely wrong so be cautious when trading.
Long
by Cohiba93
Nike (NKE) short play off resistanceNKE is showing the following strong short entry signals: - descending price channel (examine weekly chart to see this easier) - Currently at top of descending price channel - Showing strong resistance, a successive lower peak (not quite a true head and shoulders), and divergences. This is a good short trade that could be played several ways. - Swing play: Enter immediately. Set stop loss above resistance line ($56.85) and set price target below previous daily triple top at $53. This is approximately a 5-10 day trade estimate. - Medium term play: Enter immediately or after confirmation. Same stop loss. set price target at actual lower resistance channel, plus some. Depending on variable time value this could be as low as $47-48. Continue extending channel to provide updated price estimate based on the slope over time.
NYSE:NKEShort
by mologna
DAX WeeklyThats my look on the weekly chart on the DAX, Both structures in the two green rectangels may be similar. *This is not elliott wave count, its just my way to lable the structure. Line thickness indicate thier possibility. -It looks like that DAx may be doing this now, ofcourse ther will be some corrections on the way up, and thats good to add some more longs on the way. -The impulsive wave will be confirmed after first breaking the @11580 then consolidating without breaking @9700. -That is a weekly chart, so we will be shorting some times in the correction levels but on our way up.It#s just to look from time to time where we are in the bigger picture. -Until 1st week of december, DAX most likely go straigh up, without major corrections, but be careful in end of december and in January, some corrections to the downside there is 90% will happend.
FX:GER30Long
by Anees
AUD JPY short - Divergence on 1h chart + top reached?I have shorted AUD JPY for a few reasons! - The price has almost reached its past resistance level. To add to that idea, Stochastic is indicating overbought conditions. - There is BEARISH divergence on the 1h chart on Stochastics. - The targets I am aiming are close to the 0.236 FIbo replacement and the 0.50 replacement. -The daily candle is finally bearish. - The risk reward ratio is very nice. I plan to open 2 postions with TP at 81.140 and TP2 at 79.667. Once TP1 is reached, I will move the remainder of the trade to BE.
Short
by PhilippeRitchot