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USDJPY TRADE IDEA!!I really like this trade idea to the upside. With that reaction off of the daily OB I will take that as a confirmation that we may be in a intermediate term low. Of course depending on what the DXY does for the rest of the weeks to come. I like the idea of the market coming down into the OTE which would be the blue zone and then continue on up. If this happens today I will take the trade idea but I would prefer for this to happen during the London session or NY session on Tuesday and hopefully that will be the low of the week. My main focus for the trade idea would be for the market to tap into 106.800 that is my final target. Which would be the Daily bearish OB I have highlighted. lets see what happens.
Long
by JohnnWick
Optimal Trade Entry (OTE) ExampleOANDA:XAUUSD Greetings. Please leave a Like if you like the idea. -------------------------------------------------------------------- OTE /Optimal Trade Entry When a price has bottomed or topped in a certain area, we usually make a nice and deep retrace before going further in the other direction. This is called the optimal trade entry since it's the ideal spot to enter a trade for high RR trades. To be more specific, price retraces to the area between the 61.8% and 78.6% Fibonacci levels on your Fibonacci tool. With 70.5% being the middle of that and essentially being the sweet spot. Now, these Fibonacci levels don't magically work everywhere. Like every other concept, you have to combine this with other concepts to work. The OTE is an essential tool to find high RR entries. The reason for this is that when price retraces this deep, you're close to your invalidation or stop loss, and so you automatically get high RR trades because you enter close to your invalidation level. --------------------------------------------------------------------------------------- Peace Out!
OANDA:XAUUSD
by DkSwag
4
Bitcoin: A Longterm OutlookIt might take a couple years before another rally. The next 4 months I expect price failing at the red trend line and coming back down to 220-300 depending on how strong demand is there and therefore if it's worth for whales to try running the stops bellow 230. The 800-900 target is derived from meassuring the distance at the widest place within the triangle, and projecting that same distance (150%) from the (expected) breakout point upwards.
BITFINEX:BTCUSDLong
by MagnusTradingGroup
20
Trading Plan Oct-NovBUY: new high, break of 248 TP: along the targets up to 281 SELL: break of black trend line & failure to break 248 TP: around 232.5 - 235 / Build a new long position from there. HOLD: if you are long, the break of the C&H neckline indicated that price will try to reach the C&H target 256-258 A break of 248 would indicate that price will be trying to reach the double bottom target 268 - 273 OTE SELL ZONE: Look for reversal signals there and establish a short position The white & red forecast drawings are just for the purpose of orientation.
BITFINEX:BTCUSD
by MagnusTradingGroup
1
Outlook for next months--- Please readjust the scaling so that the spiral sits just above recent price action --- We are still in the process of consolidation. In my opinion, the recent drop should not be interpreted as a meaningfull breakdown. It's still within the acceptable range. Price bounced of the longest possible MA at 222 (using Bitstamp due to good historic data). A break (not pierce!) of the red upsloping line would give a clear sell signal with targets in the OTE buy zone 186-200. Also consider the yellow trendline crossing the OTE zone. A buying signal is a bit more complex so I subdivided it into 3 signals: 1. Buy : cross of red spiral and no new lows after that. 2. Buy : break of green trend line and holding the 231 level. 3. Buy : break of red log dowtrend line + breaking & holding of strong resistance at 260 for more confirmation The target depends on how long you would you like to stick to your longs. I would close all longs at 340 - 375 levels max. Good luck ! : ]
BITSTAMP:BTCUSDLong
by MagnusTradingGroup
12
ICT Optimal Trade Entry & Bullish Order Block CandidateI will be monitoring this potential setup this week heading into Monday & Tuesday. We have Fed Rate release on Wednesday so much like last week, I will anticipate my weekly quota before Wednesday's fundamental economic driver. If we exhibit strong bullish technical at a ICT Killzone being London Open and or New York Killzone I will look for a "bounce", not a bottom to post in Cable. Longer term we are going lower folks. GLGT
Long
by ICT_MHuddleston
33
Bitcoin - Seasonal Opportunity within the chaos (1 of 2)Hello all, After what can only be described as a parabolic move in the US$, we have seen one by one the world's 'risk' assets slowly work their way back down to earth. Weather it be, gold, oil or now even stocks, the bubble of the US Federal Reserve Board's QE program is deflating. Bitcoin too it would seem has been caught up in this deflationary spiral as it has seen its' value drop by 50% over just the past four months and nearly 75% from it's peak only ten month's ago....kaboom. Macro economic backdrop The current deflationary pressure is warranted in my opinion as it appears the US economy no longer needs to be force feed liquidity to keep it afloat. Unfortunately, through 'fear' cycles our society inevitably will be net sellers of assets as the baby boomers liquidate life savings to pay for retirement. The problem is, when too many of them rush the exits all at once the market can get overwhelmed very quickly. Couple that with poor ethical decisions by political leaders (US housing crisis....ty Jr. Bush and the whole elite superstructure) and one literally has the makings of an economic disaster written all over it. Without such extreme measures like Quantitative Easing asset prices would have gone through the 2008 lows and stayed down (a la Great Depression). Considering too the West's reliance on deficit spending (ty Mr. Regan) and one can clearly see that letting the economy find it's 'natural' footing (as Mr. Hoover advocated for through his respective 'fear' cycle tenure) simply was not an option. Through the force feeding of the QE programs, asset prices have risen enough to be able to absorb more selling if needed. Indeed, stock prices themselves could easily fall 50% from current levels and still not threaten those 2008 lows. Quantitative easing has worked, it has bought the market some time but this all that it has done. Keep in mind, this is not a strong economy to begin with. Due to structural issues short term interest rates in North America are at/near zero for a reason and now just the suggestion of removing the QE programs has been enough to bring whatever economic expansion that existed into question. On top of this, Neither Asia nor Europe seem ready willing or able to pick up the proverbial slack in demand at the moment. It seems to me, with both the US$ rally and the stock market break, the market is searching for the point at which it will get the US Fed to resume the QE programs. How far lower do asset prices need to fall in order to get them to act? That of course, is the $64,000 question! As the famous Mortimer Duke would say, 'turn those machines back on!, turn those machines back on!'... Seasonal backdrop In the face of the scenario outlined above, we have a number of seasonal forces that are helping the bear along. These include repatriation of assets into the US Federal Government's fiscal year end which happens to be exacerbated because of the 'carry trade', reporting of typically weak late summer earnings, liquidation of agricultural assets in size and of course the Vernal Equinox. This is a big time for change in markets and we retail investors are often handed some incredible opportunities through the later part of the window. As one market technician I love (Don Vialoux) would say, 'buy when it snows and sell when it goes'.. end of part 1....
BITFINEX:BTCUSD
by CRInvestor
2