GBPCAD LONG IDEAHey guys, this pair is currently trading on a strong daily support. I expect it to bounce from that level having formed a double bottom on the H4 TF.
My bias will be invalidated incase the double bottom is broken to the downside.
Supportbounce
EURCAD LONG IDEAHey guys, i still expect this pair to be bullish confirmation being, it traded to the previous low and there were run on stops. My bias will change incase that support gets violated. I expect a bounce from that support zone. I will be looking for rejection candles for me to go long on this pair.
PYPL looking to break all-time-highs?PYPL made a new all-time-high in February of 2021 and now it's looking to make new all-time-highs.
Fundamentally:
* Sales growth quarter over quarter is more than 30%
* Earnings-per-share expected to grow +5% over the next year
Technically:
* Beta score of over 1
* General up-trend
* In rage from year-to-date
* Found new support at $289.46
* Steady volume as it makes new support
Trade Idea:
* Look for buying opportunities near its new support of $289.46
* A break below that, $277.87 should hold as support since it's acting a pivot
OR
* Wait for a weekly close above $309.14 to confirm the break
Multi TF Analysis of BTC-USDThe overall market structure is Strongly Bullish while the CMP of Bitcoin is ~$57930. On the Weekly Time frame, Bitcoin after giving a pullback of ~25% in the third week of April has retraced back, it has been engulfed by a strong weekly candle the following week which indicates the accumulation by the bulls after the correction. The immediate resistance level is placed at $60,000 and if bulls manage to clear the hurdle decisively, further bullish momentum is most likely to continue till the first level of $67,000 followed by $70,000.
As Bitcoin has given a breakout from the Inverted Head and Shoulder Pattern, thus its nearest support is placed at $55,000, followed by the major support being present at $52,500.
As per smaller TF’s (4Hr and Daily), BTC has been taking support at the 20 and 50 DEMA and is currently looking bullish. Closing above $58,500 on 4 Hr Time Frame will act as confirmation for continuation of its bullish momentum.
STMX TESTING OLD SUPPORT!The price on 16 march has experienced a pullback and formed a support zone between 4 and 5 cents. Following that the price has risen to around 9 cents and failed to break that level but it formed an upward trendline that was tested around 7 times. I believe that the price has decreased to test the previous support zone. This idea is backed by a possible formation of a channel where the price will bounce before rising again in addition to taking into consideration that the 50EMA will soon enter this support zone making it harder to break.
DNTUSDC Back In The Game! Looks like district0x is following the trend and dipped just for couple seconds into the trendline and previous support. Entered at 0.25 and the target is 0.45 now. Bullish raid continues!
GBPAUD KEY LEVELGbpaud buying from key level! Expecting move up. Check the false breakout on the left.
SPX: Alternate Bullish Hypothesis; Cup & Handle in Weekly!Chart shows all. At the indicated futures price, ES mini-Futurz trades exactly at the gap fill price and upper support TL at 3080; Trend has been UP;;
Fighting the Trend has proven Disastrous since 23 March!! FGS be carefull my Dear Bears!!!
I am closing all my shorts at the open; take what the market gives and expect the opening gap to close quickly IMO! Taking a small long in the open!
Jobs report = more good bad news; also:
"Philadelphia Fed said manufacturing activity in the region was much stronger than had been anticipated. Its June reading rose solidly to 27.5 from -43.1 in May."
www.marketwatch.com
Apple At Dynamic Support (SMA 200)It's floating around the dynamic support (SMA 200) which can prolly hold price falling from further lower if overall market index showing positive sentiment. Stochastic supporting the bullish momentum. Knowing that China is open for business more than two months after imposing quarantines to counter the coronavirus, China is getting back to work. With new infections dwindling, factories are restarting, stores are reopening, and people are venturing outdoors. In some ways, China is where the U.S. and Europe hope to be within weeks or months.
TCOM bounce off supportPros:
- MACD, FI. EMA all sloping up
- Bullish hammer follow by a big green kicker candle
- Both MACD and FI trace higher lows in sycn with the higher lows candle
- Weekly candles loooking decent. Each lower lows traces a higher macd low
Neutral:
- Volume is quite average on the reversal candles
- Potential realistics profit target is pretty average at around 2R
Cons:
- Counter trend trading and no divergence.
Trade Grade: 5/8
EMA: 2/2
MACD up: 2/2
Force Index up: 2/2
Volume on reversal candle: 1/2
Counter trend: -1
Divergence: -1
How To Drow Propper Support & Resistance Support & resistance is really something that works in all financial markets, it's worth studying how to determine the proper way to finding and drawing it to be able to find the best trades possible available in any given time.
I use support & Resistance to find direction, (you can find it on any time frame), The way this works is you connect highs and lows, as you can see in the picture above, you must have at least 2 touches, and of course the more you have the stronger it is,
Imagine for example a Floor and a Ceiling. Support is like the floor and Resistance is like the ceiling.
what you do before you want to step on a new build floor, how do you know if the floor is strong enough before you step on it, what you do is you obviously step on it once and twice and the more you step on it and the more weight you put on it you gain more and more confident that its strong enough, and the same goes with the ceiling if you punch it once and twice and the ceiling doesn't break you know its a strong ceiling.
The same goes in trading when you see the market has hit the same price point 2-3 times you know its a strong point where it's really hard for the market to break through it, it must take a massive amount of effort to break through it,
And this you can actually monitor with Volume,
How volume works is a whole new thing for itself to explain so I will do another one on Volume or you can check my recents post where I had live trades based on volume and support and resistance.
Keep in mind that support and resistance can be determined in any angle as you see on the resistance from the picture above.
I hope You Learned A Lot From This I tried Breaking It Down The Simplest Possible For You To Be Able To Understand, But If You Still Have Questions How This Works Don't Be Afraid To Massage Me.
Enjoy Your Trading Journey.
GOLD: Day-Swingtrade-Opportunity! #BuychanceHey tradomaniacs,
welcome to another free signal!
Important: Wait for the break above the marked up resistance and place a Buy-Stop or Buy-Limit!
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Type: Day-Swingtrade
Buy: 1288,39
Stop-Loss: 1283,20
Target 1: 1293,29
Target 2: 1295,55
Target 3: 1300
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LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me.
Any questions? PM me. :-)
NPXSBTC new coin new opportunityOne of the new coins on Binance, faced a correction wave after listing. You can see a corrective pullback on the chart, however the coin has consolidated and now it touched mentioned on the chart support again.
There is a great potential to move higher, and the price range provides a good entry opportunity.
QQQ Closes Back Within Weekly Trend Channel Support at 160As you can see in the QQQ weekly chart above, QQQ has closed back into the 160 level. This is a bullish sign and I expect the index to move higher next week. A weekly close below 160 would signal a lot of downside, like a retest of the February low to 150 at least. I suggest staying long, but using put options to hedge downside risk.
As long as there is no bad news regarding the tariffs/trade wars in the next few weeks, QQQ will likely gap fill to 170.
I blog daily here: bigfryfinancialmarkets.com
Important decision making momentBTCUSD is currently in a decisive moment. RSI is pointing bullish tendencies, since we can perceive higher lows. The price action is looking like a bearishflag and the momentum for BTCUSD isn't good since traders are suffering from FUD yet, since last dips. In the short term we can watch another low reaching U$ 8500 and testing this support. In medium/long term, price will go higher.
Long Position in GILD After Bullish BounceAbout a week or so ago, I published an idea about GILD hitting some serious support levels going back to mid to late 2014 - 2015. What I thought back then was that if GILD were able to hold on to that support level, even bounce around it without falling below it, I would enter a position in my paper account at that support level, and place my stop below the support line. So, if my stop is triggered, it signals that my thesis was wrong, and perhaps that I should try it on the short side (still working with ways of changing direction on a time to profit even when my hypothesis is wrong.
Anyways, let's look at the trade. I risked 1.0% of my portfolio with a stop loss at $63. I didn't set any profit targets, and I think I'm going to keep not setting profit targets. The reason being is I want to make sure that I am being diligent in moving my stops with the direction of the trend (if I am right), and let the profit take care of itself.
Trying to stay discipled in capital risk management, and I am getting more confident with it.
All the best,
RC
