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SUGAR – Inverse Head and shoulder 🦐SUGAR creates an inverse Head and shoulder on historical support. As we know Inverse Head and shoulder is a common reversal sign after a long bearish environment. We will wait a breakout on neckline and retest it with a nice volume and according with Plancton's signal we will set a nice long order ––––– Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
OANDA:SUGARUSDLong
by InkyGrip
Week Slightly in RED But Many Teaching Points! - 05/08/20 RECAPHi traders, Welcome to a week sup-up together with Friday RECAP. As I explained in Thursday video it's sometimes hard to judge whether you should hold onto the trade and it really comes down to your backtesting and psychological comfort. I am, however, pretty happy about the reverse I did in SPWR because I've been studying this behavior for the last couple of weeks and it did (sort of) work out! My Trades: 1) CNP - LONG @18.32, jumped the ship before my original SL and then the market finally turned and went without me. -0.86% 2) SPWR - LONG @8, unfortunately, didn't go as far as my target. Moved my SL to at least don't lose on it. -0.1% 3) SPWR - SHORT @7.74, seeing a typical extended behavior with a volume drop, I found a nice technical formation to go again, this time SHORT. It didn't really move much after, so I exited before the end of the day for a +0.2% *In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the trades' description.* Total PnL for the day: -0.76% Total PnL for the week: -1.12% Good trades, Tom | FINEIGHT
AMEX:SPY
by Fineight
Going Long in AIRLINES?! - 05/04/20 RECAPHi traders, Being bullish in UAL the very next day the world got to know Warren Buffet's failed investment seems like a crazy idea. But being a technical trader, I saw an opportunity and it paid off! My trade: 1) UAL - LONG @24.52, SL 24.22, after dropping for the third consecutive day and showing a beautiful Cup and Handle formation, this was a clear long play. +1.53% *In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the trades' description.* Total PnL for the day: +1.53% Total PnL for the week: +1.53% Good trades, Tom | FINEIGHT
AMEX:SPY
by Fineight
Reversing PAYS OFF!! - 05/01/20 RECAPHi traders, The other day I posted a reverse entry which happened to be a loser as well, but I told you it typically pays off. On Friday I got to prove it when WDC didn't react the way I planned and that got me thinking if the other direction wasn't a better idea... and it was! The Trades: 1) WDC - SHORT @38.73 - terrible fill at the break of 39, in hindsight I should've at least reduced the position right away to compensate. -0.96% 2) MRNA - LONG @49.58 - good break of a strong stock, it went some 60c in the money but then collapsed. With different risk management style it would pay off, but that's just my choice and I'm not upset at all. -0.93% 3) WDC - LONG @39.85 - and finally my reverse play that didn't deliver as much as I hoped for, but still proved to be the correct way to think about the stock. +1.2% *In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the trades' description.* Total PnL for the day: -0.69% Total PnL for the week: +0.40% Good trades, Tom | FINEIGHT
AMEX:SPY
by Fineight
Today's Beautiful Confirmed AMD Short & How To Spot ItHi traders, Another recap of today's ID session. Great mover AMD which I was planning to go Long in failed and instead offered a great Short opportunity. Key takeaways from the video: 1) Always be ready to be wrong in your expectations and profit from the other direction. 2) Watch for relative strength/weakness compared to the overall market! 3) Wait for the candles to close so you won't be shaken out. That's it, hope you can make some good buck next time you see a similar situation! Good trading, FINEIGHT team
NASDAQ:AMDShort
by Fineight
GBP/NZD trade setupprice gained momentum into the third highs of a rejection of a key trendline, with candlestick spiking and attempting to accumulate more sellers around that high of 2.0370-2.0420. We have daily projections of targets where price could reach 2.0200 and lower, giving current market situations, markets are very volatile. therefore an SL of around 2.0430 is durable, perhaps, trailing our sl into profit whilst trade is in consistence with our bias would also be safe. thanks!
Short
by danresdidualfx
BTCUSD trading plan for next daysHi, traders. The wide balance with the range 6514-7384 goes up and the price hold above. Is very good for buyers. Now the price is consolidating inside the new mini-balance 7369-7658. Until we see a true breakout/breakdown of this balance, we should trade inside this balance from the borders, especially after false breaks. For now I see 3 options how is would be be next: 1. This mini balance goes up. The price will show a true breakout of 7658 and holds above. This will open a road to 8258. 2. The price decline to 7314 and rebound from it (false break with a tail) and then goes up test 7658. 3. The price decline to 7314 and make a true breakdown. In this case we will see a drop to 7150 or even 6915.. Watch the price action on balance borders and especially on 7750 - it's level for change mid-term priority.
by mooncatcherpro
Potential trade setup: GBP/AUD analysisOn a technical perspective, price is clearly indicating that GBP could potentially reverse versus the Australian currency, price is respecting the weekly region of 1.7700 with previous daily closing above it, today's daily close could add further confirmation if the candle closes as a spinning top/Doji. technicals are pointing out to price possibly extending to the 4HR resistance region as a lower high if the price breaks the counter trendline we could expect for price to revisit the psychological area of 1.81000. Fundamentals ahead could be the catalyst needed for the price to move in our favoured direction, with Australian job reports expected to fall, and an improved consensus on retail sales for GBP could strengthen the sterling. As part of risk management, SL will be moved to breakeven just in case we do conceive adverse economic data. Great risk-reward trade.
Long
by danresdidualfx