[SWING][LONG] BTC Correction before extensionHere's the setup I'm going to take on Bitcoin.
Considerations
The 12345 impulse wave followed by an ABC correction is what seems most probable from my point of view at the moment. The risk vs reward is there as well - we see we've formed an order block in the $39600 - $40000 area.
Note
This is only my setup that I want to track and it's not financial advice.
Setupoftheday
Trendline breakHow to trade bitcoin??
If you know the main trend - up or down it doesn't matter.
You see break strong bearish trendline. It is better to wait for confirmation, for confirmation you can use growing volume.
If is the main trend is running, then you can re-entry in correction.
Still same setup - wait for break, check the volume and buy.
This example is on 4H chart. For exact entry is better to use 5m chart and order book on exchange.
Feel free to ask if you have any question.
NZDCAD SWING TRADEHigh probability trade
The analysis begins from the Daily timeframe to the 4-hour timeframe execution zone .
5 wave structure complete with multiple wave structures currently in a 3 wave pattern internal structure (3-3- ((with a possibility of 5 to follow)))
Considering where wave B has ended we should consider a high probability that wave C might only go back to the previous high in the wave structure or point A
Payo is set up beautifully to launchA strong company with experienced leaders and earnings report set to light the fuse aftermarket on 8/11.
Unfortunately, inflation numbers are set to release 8/10 8:30 AM - Thus, we can expect a rise on 8/9, a sell off on 8/10 and 11, and a rise again on 8/12.
the above is simply personal opinion and should not be construed as investment advice.
Best of luck.
DISH - awesome Flag setup forming hereNice relative strength in this one. Clear Flag setup.
I expect it trading over yesterday's close and break through 45.00
First target 50.00, S/L 42.00
NTR - 7.85% Profit Potential - Ascending TriangleNTR is a fairly volatile stock. Keep this in mind when you trade it. The risk can be higher.
While an Ascending Triangle has clearly formed, the price hasn't confirmed the support line yet. However, the risk exposure is minimal and it might be worth a shot.
- Target Entry: $59.11
- Target Stop Loss: $58.18
- Target Exit: $63.66
- Risk / Reward Ratio: 4.89
About me
- Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss
NZDCAD - Good R/R Set up!Technical View of NZDCAD:
NZDCAD - 1 HR
Pattern: H&S - longer term developing, Wedge - short term
Support: 0.89615, 0.89475, 0.89370, 0.89155, 0.88685
Resistance: 0.89940, 0.90105, 0.90175
How to trade this idea:
Once out of short term wedge, you could trade the pull back and trade it to next support area or resistance - to whatever direction it goes towards.
Best,
Mind Capital
(Just trade idea, not a recommendation)
GBPJPY | LONGS INTO 152.554 AND HIGHER REGIONSGood long opportunities that has been presented on the Pound/Yen the past couple of hours with monitred price action over the past few days, been expecting bullish momentum to pick up for some time now and we finally managed to find a setup to ride the trend up, we have been creating (HH) and (HL) since 150.000. You will see 3 orange horizontal levels, these are the (HL) levels formed, with a intra hour trend-line placed, buy positions were taken off the 3rd touch bounce and 3rd (HL) with the 61.00% fib correction. +120 pips gain on this so far and exiting 152.554 sometime today or later in this week.
Xau/Usd long setup Gold long setup based on 1h chart. we entering after few rejections to the 38% fibonacci and the Moving Average indicator.
Mid term position to hold over the next days. Risk Reward of 3.07,
Entry at @1857
SL at @1846
Take Profit at @1882
If you enjoyed this trading idea make sure to share it with your traders. Have a nice one!
USDJPYRisky trade for ujsdjpy since there are chances for a doble top, but we expecting a break out and cacht a possible spike to the bullish side.
The reasons are that ujdjpy is above the mid trendline, and also above the moving average. We can see also that the fibonacci level of 23% acts as a support level giving USDJPY more probability of a spike out
15 Minute Bollinger Band Strategy Here we use a 15 Minute chart with Bollinger bands set to 20 with a standard deviation of 2.
First we look for an established trend direction, once that has been found we apply our bands, set the deviation for 2 and wait for the price to test or slightly break that lower band. (test/break of higher band in the case of a down trend and sell order)
Here we have highlighted these tests/breaks with a green circle. The blue arrow represents a 200 point gain on each trade. Once the trend has begun to level out the opportunity is extinguished and we move on to the next chart.
Tips/Rules
Don't trade against the trend! eg sell at a high break/test of band on an uptrend!
Keep stops loss tight - if the break and trade entry occurs, but the price keeps moving against you time to get out!
Stay cautious in a sideways market (we will post a strategy for that soon too)
If the bands widen drastically that could indicate high volatility and potential trend change.
Be aware of new releases and high importance data when entering set up.
Good luck!
Orion Fx Trading Team