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CHF/ZAR Update - Update to 11-20-18 (Link Included)CHF/ZAR Update If you followed the trade idea I posted on my TradingView on 11-20-18 (), we see how we have progressed. As charted, we hit TP. Hopefully you took your profits as noted on December 4, 2018. The reversal did occur as expected and we saw a series of impulsive moves and corrections (see current flag). Be sure your profits are protected. Although I anticipate another push to the upside, it does not have to continue. Please note all ideas are simply ideas. Exotic pairs especially are extremely volatile. Trade at your own risk and always, always always exercise proper risk management. Happy New Year to all! 2019 will be a great year!
Long
by mrsceleste
USDCAD - Bearish Higher Time Frame Swing MaterialisingVery simple -We saw the historical 30+ year ascending trendline hold up as resistance after a fakeout spike higher, red 786% & 618% bearish fib levels are prominent & also holding -Price is now breaking a medium term ascending TL & has retested successfully -Recent Weekly candle close saw a confirmation of bearish pressure = thus I expect a test of green 618% bullish fib level (1.1225) - *Invalidation* of short bias is a break back above the broken ascending TL turned resistance or 1.3470 handle - Action Plan = Sell all valid 4HR swing highs unless we break above the aforementioned invalidation zone and join in the short term trend reversal - KISS - Keep it simple, stupid
Short
by EMT786
XLE - Energy Sector About to Poop Itself or No?The energy sector has been performing badly over recent months, but not as bad as basic materials sector. Specifically leading the problem in the energy sector are oil & gas drilling, oil & gas exploration and production, oil & gas refining and marketing, oil-related service and equipment, renewable energy equipment & services, and uranium industries. These industries are making new lows over the past month and over the past quarter. It is quite early, but this should be on the radar for a potential shorting opportunity. If truly the beginning of a downward move, a further break of the support level around $72 would be a confirmation, and this should be expected within the next 2-4 months (pretty much from October - December, or even January) . Also, the idea of the downtrend could potentially be a recovery for a possible uptrend if the resistance levels around $76 and $78 are tested and broken. The financial sector was also showing some milder weakness but more time is needed to tell how the sector is behaving. Watch the energy sector; what do you guys think?
AMEX:XLE
by themdtrader
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