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Clear Triangle Pattern, with great Risk/Reward ratioOn the graph, there is the triangle pattern, one of the most wide known phenomenon in forex trading, which makes it one of the most reliable strategy as well: waiting for the break through and opening position in the appropriate direction of the breakthrough. Good risk reward ratio: If Long then we can put stop loss at around 1.1659 and take profit at 1.2338 --> R/R ratio of roughly 2.5 if Short then we can put stop loss at around 1.2055 and TP at 1.1198
by bogd
EURGBP EUR/GBP pair fell during the day on Monday, as we continue to pull back from the recent breakout. Ultimately, the 0.85 level below should be a bit of a “floor” at this point in time, and as a result am waiting to see whether or not we get some type of supportive candle in order to go long again. I have no interest in selling this market, as I see a massive amount of support just below the 0.85 handle going forward. With this, I am simply waiting to see whether or not I can go long again.
Short
by FxRanger
EURJPY Short entry EUR/JPY pair rallied initially during the day on Monday, but then turned right back around to form a slightly negative candle. With this being the case, the market looks as if it is ready to continue going sideways overall, and with that I believe it’s difficult to trade this market during what is the largest holiday season of the year. With this being the case, the market will more than likely continue to be fairly quiet. I do have a negative bias overall, so rallies that show signs of exhaustion could be short-term selling.
Short
by FxRanger
EURCHFGiven the pair continue trading at lows below 1.0830, the 1.0815 and the 1.0800, followed by 1.0790-95 horizontal support, are likely crucial supports to watch, which if broken can further drag it to 1.0730-25 support-zone. Should the pair reverses its recent breakdown, on near oversold RSI, the 1.0890 and the 61.8% Fibo level of 1.0920, adjacent to 1.0925 TL resistance, could confine its following pull back attempts. If the pair manages to surpass 1.0925, the 1.0950-55 and the 1.0980 might act as intermediate halts during its rally targeting
Short
by FxRanger
EURGBPThe EUR/GBP pair broke higher during the course of the session on Friday, as we continue to grind our way to the upside. I believe that there is a massive amount of support below though, so having said that I feel it’s only a matter time before the buyers return every time we sell off. This is my strategy in the moment, to simply buy dips in this market for short-term gains. I think the biggest thing keeping this market from forming a significant rally is the lack of volatility due to the fact that we are right in the middle of holiday season. Once traders come back to their trading desks, I believe that the momentum will pick up in this market and we will continue to reach towards the 0.88 handle, and then the 0.90 level above. I am no interest in selling this market, and I believe that the 0.85 level below is essentially a “floor” in this market. It makes sense that the British pound continues to get pummeled for the British deciding to leave the European Union, but quite frankly I think that this is going to be a slow, gradual grind higher. Eventually, I believe that this market will turn around completely and the longer term, as I believe that the Euro will eventually have to be dissolved, but that might be 10 years from now. In the meantime, people choose to punish the Pound, and run to the general safety of the Euro itself. With this being the case, I think that buying dips going forward will be the way to go, and keep in mind that the moves don’t have to be as big in this market as the PIP value is much higher than traditional pairs. With that being the case, I think there is plenty of reason to go long, and there is plenty of room for these moves to happen. I would not sell this market until we broke well below the 0.83 level, and even then I think the real “floor” in the trend is somewhere closer to the 0.80 handle below.
Short
by FxRanger
AAPL While most options traders are familiar with the leverage and flexibility that options offer, not everybody is aware of their value as predictive tools. Yet one of the most reliable indicators of future market direction is a contrarian-sentiment measure known as the put/call options volume ratio. By tracking the daily and weekly volume of puts and calls in the U.S. stock market, we can gauge the feelings of traders. While a volume of too many put buyers usually signals that a market bottom is nearby, too many call buyers typically indicates a market top is in the making. The bear market of 2002, however, has changed the critical threshold values for this indicator. In this article, I will explain the basic put/call ratio method and include new threshold values for the equity-only daily put/call ratio. (Find out how to play the middle ground in Hedging With Puts And Calls.) Betting Against the "Crowd" It is widely known that options traders, especially option buyers, are not the most successful traders. On balance, option buyers lose about 90% of the time. Although there are certainly some traders who do well, would it not make sense to trade against the positions of option traders since most of them have such a bleak record? The contrarian sentiment put/call ratio demonstrates that it does pay to go against the options-trading crowd. After all, the options crowd is usually wrong. As often happens when the market gets too bullish or too bearish, conditions become ripe for a reversal. Unfortunately, the crowd is too caught up in the feeding frenzy to notice. When most of the potential buyers are "in" the market, we typically have a situation where the potential for new buyers hits a limit; meanwhile, we have lots of potential sellers ready to step up and take profit or simply exit the market because their views have changed. The put/call ratio is one of the best measures we have when we are in these oversold (too bearish) or overbought (too bullish) zones.
NASDAQ:AAPLLong
by FxRanger
EURJPYThe pair did very little during the course of the day on Friday . I do see a significant amount of resistance above at the 115 level in order to keep this market somewhat negative. If we break down below the 112 level, then we should reach towards the 111 level. Ultimately though, this is a market that should continue to chop around overall with a slightly downward bias. Ultimately, this is a market that should continue to be negative, just as there are a lot of concerns out there.
Short
by FxRanger
USDCAD USDCAD pair ended ON Friday trading with clear negativity to attack 1.2985 level, as the price found difficulty to surpass the EMA50, which hints the stop of the correctional bullish wave that started from the previously recorded low at 1.2459, to return to resume its main bearish track again. I expect the domination of the bearish trend in the upcoming sessions, and the main target is represented by visiting the above mentioned low, taking into consideration that breaching 1.2985 followed by 1.3020 levels will reactivate the correctional bullish scenario that its next target located at 1.3310. Expected trading range for today is between 1.2860 support and 1.3100 resistance. Expected trend for today: Bearish
by FxRanger
EURUSD Short in light of Greek woes; USD Safe Haven StatusMight be difficult to get this ball rolling with a smooth start but in the event of a proper channel breach (pictured) and a solid daily close below 1.100 , there's about 550 Pips on offer till the March low of 1.045 if risk aversion truly kicks in, coupled with a rapid devaluation of the EUR. The EUR is currently a moderately risky asset to hold what with Greece uncertainties weighing down on the currency. The USD may prove to be a better safe haven over time, despite the temporary (citation needed) lull in economic data, more so the Jobs Figures. Below the longer-term 1.081 Pivot, more bears may begin to check-in, otherwise this level is expected to act as a level of significant support. Risks: A continuation in poor/mediocre data prints from the US. A credible, transparent and sustainable solution to the Greece fiasco that is taken as a positive to the EUR. Incredibly good EUR data prints that reflects a sudden and robust pickup in economic growth in the Eurozone. Some weirdly long pin-bar that is as a result of rapid buying of the EUR and then sudden selling which would take out stops at 1.200 in a spiky flash.
Short
by JeffMzee