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Structure-trade

HOME DEPOT DOUBLE TOP +HEAD AND SHOULDERS FORMING- SHORTHOME DEPOT has bounced down from the double top all time high level. Also, there is a strong daily level exactly where the stock price is trading right now. One might find a reverse head and shoulders pattern forming, with a current expected move down creating the right shoulder. The target is a strong horizontal structure support level. Don't forget to hedge with long weekly calls when leaving position overnight to eliminate the gap up risk. Don't hold the options during daytime. Or just have your stop loss in form of options, if the price is right. This is more that a one week trade however, so monthly options as the most suitable. Like and subscribe for more analysis. It really helps me when you do that! Wish you all best of luck in your trading!
NYSE:HDShort
by ProSignalsFx
9
GBP/USD MULTI TIMEFRAME ANALYSISThe pair is trading in a massive descending channel that is also part of a triangle. Both the triangle and the channel structure allow the pair to move up to reach the resistance line of the triangle and the channel. The one hour chart is also interesting. The pair was falling in a wedge and has reached an important local structure level. We might see a breakout and then retest of the support>>long. Or the pair ignores the structure, breaks below the level and continues bearish trend within the wedge. Both outcomes provide decent trading opportunities. Like and subscribe not to miss out on the updates. Wish you all luck in your trading.
Long
by ProSignalsFx
17
GBP/USD KEY STRUCTURE LEVEL It can be seen on the 4 hour chart that the pair has reached a key decision level. A massive horizontal structure that spans two months. The pair was moving in a downward channel, and now it has reached both the channel border line and the horizontal support. On a 1h timeframe it can be seen that the pair is trading in a range of indecision. I say, if the 1h and 4h candles both close below the level, I go short. If is bounces back, and breaks the range resistance, I go long. I will say I am long biased, so I will post again, watching closely how it plays out. Please, hit the like button, it really helps me if you do that! Wish you luck.
Short
by ProSignalsFx
2
GBPAUD POSSIBLE SCENARIO EXPLAINED|additional chart in the post.The pair has returned into the 4 year upward channel and is now trading inside a big horizontal structure. It is possible that it will bounce back from the level and follow the direction outlined by the black lines on the chart, hitting the resistance of the upward channel again, before reaching the support of it which will by that time comfortably rest inside the horizontal structure. That scenario is supported by the fact that the RSI indicates the pair is significantly oversold and therefore some correction up is inevitable. However, if zoomed out(chart below), it can be seen that the price has violated a local support level, and did not show any strength which begs a question of whether there are any buyers left at this levels. If the lack of buyers assumption is correct, then the pair is most likely to keep falling within the downward channel to the intersection of the diagonal upward channel support line and the horizontal support level. Guys, every like matters, so like and subscribe to help the channel. I greatly appreciate every effort. That also helps you not to miss the updates. Thank you all, and wish you the best of luck in your trading!
Long
by ProSignalsFx
3
EURAUD POTENTIAL SHORT| MULTI TIMEFRAME ANALYSISAs I have already mentioned, in my previous analysis of the pair, the link to which you can find below, there was a potential for returning into the massive diagonal channel, which can be seen on the daily chart attached. The return into the channel was confirmed by the daily candle closing inside the channel, below the resistance area, which gives us a short opportunity. Current 1.6846 level, is not a good one to go short in terms of risk reward, for I expect the pair to find support in the middle of the channel, at around the take2 area. The support line is shown in the blue. There is also a horizontal structure at this level. So, I will be waiting for the pair to bounce back, from a small horizontal support it has found. To the levels that are indicated by the arrows. You might choose to enter the short piecemeal, adding to the position as the pair goes higher. This way you will get a good average price. The first take is 1:1 risk reward, as always. The second take level I've discussed above already. I will be monitoring the price action closely. On a side note, one might actually go long now, and ride the bounce up, to the short levels, but I will not be doing that. Guys, please, like and subscribe, to support the channel. It really helps me when you do that, and also makes sure that more people see the idea. I really appreciate the effort! Wish you all luck in your trading!
Short
by ProSignalsFx
1
BEARISH CADJPY CYPHER PATTERN COMPLETION AT STRUCTUREThere is a potential cypher pattern completion at structure. Not just that there is a 200 EMA confluence, monthly candle open price and monthly pivot point. So look at all the elements of confluence we have at that location: 1. Daily Structure Level 2. cypher pattern completing at structure. 3. 200 EMA confluence at cypher completion. 4. Monthly pivot confluence at structure 5. monthly candle open price at structure. Please note that this is not trading advice, follow your trade plan. Cheers!
Short
by YemiTrader
AUD/NZD WEEKLY CHANNEL RESISTANCE AND STRUCTUREThe pair has reached the resistance area of a massive downward channel it was trading in for the last 3 years. The resistance line is porous, and is more of an area though, which can be seen by the spikes of the weekly candle shadows spanning way outside the channel borders. The horizontal structure to the left helps us determine the potential area of resistance where the upward move can be reversed. I will be watching the price action closely to determine entry points. Guys, like and subscribe to support me! I really appreciate that! Wish you all best of luck in your trading!
Short
by ProSignalsFx
8
Bullish Gartley EUR/USDHey Traders, So, if you had traded the EUR/JPY Bullish Bat I posted earlier this week you would have banked around 85 pips. Secondary targets reversed and stopped out at break-even, We can't always have it all traders lol. An important factor we banked profits from that trade but always be ready to hand them back over. Moving forward, we have another advanced pattern setting up on EUR/USD in the form of a bullish Gartley, I'm already short this pair, T1 hit and waiting now to stop and reverse. For the bullish Gartley, Entries at 1.1094, targets at 38.2 & 61.8, Stops below X. Good luck traders will keep you updated on the performance.
Long
by shah-n