EURUSD is certainly in an uptrend here but currently testing strong overhead resistance from the previous high from 9/08/17 (brown line.) A pullback is expected where I will be placing buy orders. Correct me if I'm wrong but the orange fib is running from the peak at 1 to the trough at 2. The extensions appear to cluster with other resistance levels in the...
On both daily charts seen above, Eurusd is forming a decent head and shoulders pattern anticipating moves to the downside. These setups have been historically powerful but require a lot of patience. I will risk 2% of account balance and intend on taking 1% off the table at T2 and letting the other 1% have a chance at T3. Entry - 1.18612. If we are fortunate...
NZDUSD is in certified uptrend on the daily and has since pulled back and tested old support and verified it has now become resistance (Purple circle on daily .69500-.69400) This also aligns with my current trading plan bias of XXX/USD symbols higher with lower USD/XXX symbols (See related idea.) Two entry points have been established, of which I will enter 2%...
Merry Christmas Traders! Litecoin made a top on 12/18/17 at 370.78 (Bitfinex) Since then price has made a nasty retracement to the 150 level on the 12/22/17! $150 for a coin worth 300 a week ago! Duh! Now the only thing to do is wait and see. Price can either do two, maybe three things. 1. Remain in the Down trending channel where 200 and 160 will act as...
Technical Analysis of EUR/USD with Fibonacci retracement indicators. Large time-frames (Monthly Weekly) are showing an uptrend that is still intact. The latest counter trend move down (Oct-Nov) has been a classic retest of old resistance now becoming support which indicates a strong possibility of bullish trend continuation. The classic retest level of...
Hello Hodlums. Bitcoin price has pulled back after hitting new highs to the tune of high 19,000. I believe the pullback is related to the rise of alt coins, but that methodology is flawed since all coins seem to be hitting all time highs. Money really wants into the space, but they will need to go through bitcoin to get it. This consolidation level is also...
In my opinion EURUSD is overextended to the upside. I have been waiting for this move to stop out a majority of traders with close stops. However It would not surprise me if price lingers in this area for a couple days. To me, the probability these prices are temporary is worth the risk. Stoploss has solid conviction behind the high of the shoulder; 1.18820....
Saw price below 7000, signed on to Coinbase and bought $150. Price also pivoted off fib levels and as it appears now, is holding above the lower low. This is a long term buy, I'd be completely comfortable losing all the money invested in Bitcoin, just like sitting at the casio.
USDJPY has respected in the uptrending channel for quite some time now. Just recently, the channel intersected with a major overhead band of resistance which has been a major pivot point for price in the past. Lone and behold, price broke both channels at the intersection point (see purple bubble), then clearly rejected old support. Price should proceed to move...
Stop at 1.16264. Strategic Entry 1.16020. Rolling it for a 2-1 risking 1% of account balance. Goodluck! T1 1.15766 T2 1.15512 T3 1.15258 The red and green P&L drawing appears deceiving. Because it was drawn on a higher time frame it appears as though price has been traveling through it for the last day or two. The drawing was applied 10 minutes before the...
Bearish wedge breakout. Going to short the pin bar. Setup bar H - 1.49512 L - 1.49200 Difference of .00312. Entry 1% short at a break of the low, 1.49195. Stop at 1.49519. Difference of .00324 pips. T1 - 1.48871 T2 - 1.48547. Since I'm only risking 1% I'm only trading to T1, if I could risk 2% I'd put 1% on T1 and trail the other 1% to T2. Good luck! ...
4 Hour time frame. Levels mark previous levels of interest. Currently EUR/USD -0.03% is forming a major head and shoulders pattern. Check my post from last week where we identified the move days before the news announcement that triggered it. Our bias is short because of the intensity of the head and shoulders setup. We must anticipate the big week ahead. There...