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Shortidea

USDCAD is 1.38 going to be the reversal level!?! HUGE DOWNSIDEHave been watching very carefully around this resistance of 1.38 on USDCAD to see how price reacts. We have now had multiple rejections and another (FAKE?) push through followed by price quickly selling back off... we sometimes see these fake moves (breaking through levels) to catch the early sellers before the big moves happen... is this the situation with USDCAD?? I believe we have some downside coming, so like I explained I've got my eyes on a zone where if price fails it once more ill be opening a short for potentially a big move to the downside.
Short
by jamison_fx
1
GBPUSD BIG MOVE DOWN! LONG TERMLooking for a right shoulder rejection to either give us a opportunity for a long term short or at least just tap into the support of 0.09. Personally ill be waiting for that initial push down and look for that confirmation fail back up before taking entry's.. but I can see some huge profit potential if price can move in our favour. Just remember DXY is very bullish which will work in our favour but remember been so bullish we can see a sell off at any point so make sure stop losses are always set and you update those stops when in profits! Good luck and hope everyone has a fantastic week!!
Short
by jamison_fx
2
A possible re-entry short on NVDAHey all, if you swing by my page, I've long been a massive NVDA bear, along with semiconductors as a whole; I think they're due to go much lower. Right now, I believe I saw somewhere that NVDA is the most shorted stock in the stock market. I worry that this trade is too crowded, evidenced by the fact that I exited my NVDA short earlier today(Probably a little too early considering it went down a whopping 12%). I expect, eventually, NVDA revisits pre-pandemic levels. That being said, I also am of the belief that this stock(along with others) will likely bounce in the near-term, though I am not playing it. I've been comparing this drop both to March and the blow-off top in January, but in NVDA's case, it is more like January, in my eyes- In the chart, I point out a similar candle to what I think is happening right now. In short, I both expect and am hoping for a bounce in the first half of September, and I plan on shorting said bounce. Let's see how it plays out.
NASDAQ:NVDA
by MichaelEugen1
7
$XOP Smells like distributionXOP to me needs to cool off after this monster up leg. Starting to smell like distribution with lower highs. A monster breakout is possible, but even being bullish I'd like a dip to $120 zone before the next up leg. Daily - seeing some bearish divergence on the RSI Weekly - top of channel rejection (so far) with Bearish MACD cross and momo turning down Monthly - we're at the 2015 resistance line and an RSI approaching over bought territory 4HR - bearish divergence in MOMO and lower highs with MA turning down I'm just not a buyer here, started a short position will add upon further confirmation JUN 130P Cheers !
AMEX:XOPShort
by FriscoTrades