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Bounce play with RR in mind Details on the chart. Not a play I normally make, but gave it a go this time. The RR here isnt too bad. Long Thursday at 12/28/2017 at $39.18. Did not have the best timing on my intraday entry, but thats fine. -------- Closed over the 8ema today. Right at the 100sma. I may be a little early here. -------- Concerns: 1.) the sell off on 12/19/2017 was because the tax bill was passed and utilities wont benefit as much as other companies. So potentially we saw some money flowing out because of that. Not sure I should be concerned about this. I do not have much of a fundamental thesis on this company. 2.) Low volume at the bottom of the trendline bounce. I would of liked to of seen more obvious signs of selling pressure being obsorbed there. Meaning loose hands are gone and there are fresh pockets in the game to allow this ride up some. Just a thought, I am by no means a pro at volume price analysis. 3.) I normally like to set price targets. I was not sure where to place the price target on this one. I will play by ear on the one and trail might Sl tightly once in the green with enough breathing room. 4.) We could see resistance from the ichimoku cloud. We shall see. ------- Like Comment and Follow for more
ELong
by gumbtg
5
Dash/Dollar: DASHUSD Entry levels/Strategy ReviewDash/Dollar DASHUSD Strategies Reviewed Time Always Tells The 2 possible entry strategies yesterday gave one great result and for the other the jury is still out. You'll be familiar with the story about the old bull and his boy out on the range: the young bull sees a herd a beautiful looking cows in the valley below and says: Dad, look at those babes...that one looks like Adriana Lima! Let's get down there and...you know the rest. That was Dash yesterday - don't chase, it might just come to you and eat right out of your hand. Sure enough some smart traders stuck a few lazy orders down at 302 (entry was actually placed just above the break level/previous spike low on Thursday at 302.8 but it looks to have come down to 300 low) - and then ripped 57 points or 20% in a near straight line in less than 6 hours...makes Bitcoin look quite tame at the moment. That was the good choice, the older, calmer way to go. The other choice was follow the break-out above new structure at around current prices now, 338-342. Then we have to keep an eye on price action to see how it behaves after the breakout, obviously. And here, it has to be said that follow through is lame, so far. We're in a weekend too. We can see those two spikes that have recently formed, showing quite strong rejection from just under 360, so am concerned here that if it breaks back down below 335 now, it will likely fall away on lack of buying interest to 318 at least and quite possibly it can spike down to 302 again before it rallies...this break-out has failed, so far. That's what the chart is saying, and Dash needs buyers now to push it higher still, otherwise it will start to fall away. So need to put a tight stop under this, if long and day-trading, at 328. If hit, then put a buy order in at 305 with stop just under 296 and see if it gets filled. Longer term The sloping head and shoulders pattern here is similar to the one on Facebook, in this case with a minimum upside target at 453, with the most likely points of resistance on the way marked on the chart. It's good medium term. But be careful of whipsaw between 302 real support and 340 reistance in the very near term. It's a good tradeable 10% range for day- traders once 330 gives way...that's where they're most likely to step in on short side, so use stops, looking to get long again from lower down if 330 gives way. Moral of this dumb story: sometimes it pays to be cool and calculating and sometimes it also pays to follow the herd and play momentum breaks. But a momentum break needs careful watching over on the day following the break: did volume spike on the break out? Has it had follow-through? Are there any scary pin bars forming showing quite strong rejection at higher levels...? You knew all this anyway. Don't trade on hope. Trade on what the chart tells you. If you can manage to master this Zen-like state, you are free. It's not you. It's the chart.
BITTREX:DASHUSDLong
by sumastardon
Trade Idea -- Development Publication--Not too positive on this one. -I have a bullish stance on them if they break that price level. They look like they have room to run if they are able to get the momentum behind them. -Buying at that level would mean I/you are expecting explosive momentum -Others have told me they dont think this will work out because: 1.) The MA lines might reject the price action 2.) Its over extended today 3.) They face significant competition from Frontier and Alignment 4.) They are not in the best place financially I will reflect on this idea in the future.
SLong
by gumbtg
4
Backtesting RSI Breakout ---Review, Not a Trade idea---No advice given here. Purely a published educational review here. Publishing this so we can learn how RSI breakouts of the topside resistance line respond during an existing uptrend. This is something I have looked into in the past but would like to continue to review how equities respond to this kind of behavior. I will say that I generally look for "RSI resets" in order to buy breakouts like this. Comeback to this post in a few wees and we will discuss our findings in details
NYSE:YRD
by gumbtg
Educational Trade Review --- Detailed Explanation ---All details are on the chart. You do not need to know how to properly use RSI and MACD to understand the theory here. Everything is explained in detail. Assume that I know what I am talking about and you will find much value and perspective in this analysis. Be open minded to what I am saying; I do study this stuff 30 hours a week. :) -This one could really go either way, but with this analysis we can setup a game plan to be ready for whatever. -On one hand this could be setting up for a nice bounce followed by a move higher. On the other hand it could be heading lower. The chart explains what to watch for and beware of. -Next week is crucial for this stock. Watch it like a hawk. Watch for volume as well. I would strongly suggest you do not place any buy or sell orders on this equity during the first 15 minutes of market open on Monday 9/25/2017. Market Makers are likely to "manipulate" the stock price right at open on Monday to try to "shake out" anyone else that they can(this statement is made with the bias that this equity could bounce and move higher) -If you like this idea and find it interesting please leave a like. -If you would like to see more of this kind of analysis click the follow button. -If you have comments or questions I would love to hear them, dont hesitate. -Look at my profile for more of my published ideas if you would like.
A
by gumbtg
2
$KEY...well shit...-ER today. ER was good if you ask me...but has faced a large sell off.... -My trade plan was to sell once it broke the price action trend line and or the RSI trend line.... Well both happened today... very aggressive thou when it happened however. Was hard to just say "sell" because they were breaking down so hard. -I did not specify whether to sell intraday on the break or at close. This was a pit fall in my trading plan. ----> on that subject: had I chose to sell intraday I would have been out of this one a few days earlier, because they crossed that RSI line intraday; however they rallied before day close and thus they did not record a break in that RSI line that day. Just food for thought. BAC had a similiar case on the same day they bounced off their RSI Line.
NYSE:KEY
by gumbtg
3
A review of DXY combining Harmonic Trading with Supply & DemandHey traders, I am going through a course at OTA conducted by a friend Jeff Manson right now. I am reviewing some setups which failed for me last week. Dollar Index Daily Chart Upon reviewing the chart, I realised that this should be the right way I should draw my shark pattern. Always choose the deeper B leg as your correct B. (Compare this to the other Shark Pattern I have draw earlier) Mapping in my PRZ, I realized that price tried to close below the PRZ but failed. Based on something new I just learnt, it happens to be also a demand zone which happened back in February. *I am still learning and I could be wrong about the way I map the zones* This is a pretty interesting concept and I am absolutely confident that DXY will hit at least 100.73 based on the TP1 rules of the Shark pattern. By combining S&D with Harmonics, I guess it should be safe putting my SL just below point D with a small buffer. Redoing this trade can easily net me a 1:3 R:R on my trade. Another lesson learnt today and I am definitely gonna read some more books on this way of trading.
INDEX:DXYLong
by TerryHarmonicTrading
8
EURUSD week ahead overviewHello traders. Eur/usd overview for the week ahead.Currently price react of 61.8% Fibb level. We have well formed channel and head and shoulder pattern. From now on we looking at either respecting the second shoulder and 61.8% level , price breaking the channel and looking for Buy scalps on 15m chart along the way. The second scenario is if price does not respect the levels and continue on the downside breaking current low and formed trend line. From there on my plan is to start taking short scalps all the way down to 1.0350.
by samgeorgev
MONTH IN REVIEW: FEBRUARY 2017Hi traders, There are hundreds, if not thousands, of trades posted on Trading View every day. Some are hunches of what the market MIGHT do, others set definitive entry points and profit targets, and others anticipate the completion of certain patterns. But how do we separate the wheat from the dross? I want to be as transparent and accountable with my trades as possible. This is why I've started to make a diary of all my trades and a monthly review of how successful (or unsuccessful they were). This will help ME to review what went well and, more importantly, highlight areas where I can improve for the following month. It will also help YOU, the readers, to hold me to account and determine how reliable my trade set ups are. So how did I do this month? Number of trades taken: 8 Number of ideas posted: 12 (3 educational, 9 trading ideas) Successful trades: 7 Unsuccessful trades: 0 Entries missed: 1 Trades still active: 1 So here's a breakdown of the trades I've taken this month: Trade 1: NZDUSD SHORT +162 pips Trade 2: AUDUSD SHORT This trade is still active Trade 3: EURNZD SHORT +100 pips Trade 4: AUDNZD SHORT +100 pips Trade 5: EURNZD SHORT +60 pips Trade 6: EURJPY SHORT This trade was successful but I missed the entry because I was asleep. You can't catch them all! Trade 7: NZDJPY SHORT +100 pips Trade 8: USDJPY +50 pips Trade 9: USDCAD +50 pips TOTAL PROFIT/LOSS: +622 pips ACTIVE TRADE/S FLOATING PROFIT/LOSS: -16 pips What I've learned this month: If the market is bad for a long spell, it's OK. All you need is a few good trades a month to reach your profitability goal. Happy trading everyone! I hope you've all achieved your monthly goals. AvidTrader
by avidtrader89
2