Moving averages as great tool when used on shorter timeframes!Since MA's are usually a bit slow in showing the best entry and exit points its good to use them on shorter timeframes and see what story are they saying.
In this example, it is quite clear how shorter MA's cross down longer MA's and confirms the bear trend and how shorter MA's then cross longer MA's on the upside and confirm the bull trend!
MA's used here are:
- 20
- 50
- 100
- 200
Hope you will use them wise and well!
Do you see the confirmation for the upside that is most probably coming now since the 3rd breakout try is usually the successful one? We already had 2! ;-)
Timeframes
XAUUSD Mark UpDateThese are the areas of interest I would pay attention to for next upcoming trading week IF I were to trade Gold. Go to my initial published idea (7.25.19) to see what my plan was in the beginning. I only react to my zones if I see what I need/want to in the markets. Even though it's probably counter-trend I would be short on Gold for the following week, but only short term since price engulfed a higher TF zone of mine... downward movement could merely be a pullback so I wouldn't look to go for much in the move. We shall see.
P.S. Price was rejected at the 1452.80 price point. Last time it reached them levels was back in 2013. Price will more than likely be met with more resistance between the 1482.99 - 1495.55 levels so be mindful of that. Happy Trading!
*DISCLAIMER* THESE ARE JUST MY HUMBLE OPINIONS, NOT TRADING ADVICE.
XAUUSD Mark UpI do not trade Gold, but if I did this would be my plan. I would wait for price to reach my zone, if it's respected I would short it to the 'Golden Pocket' which happens to be right above the 200EMA. If I see everything I need/want to then I'll head further down to that 50%. If the zone is breached I'll patiently wait for a break/retest for entry.
*DISCLAIMER* THESE ARE JUST MY HUMBLE OPINIONS, NOT TRADING ADVICE.
Lfyt Mark UpI do not trade Lyft, yet. I would like to share what I would do IF I were to trade this stock. I believe the overall is bullish even though we might see price head to the downside before we get some real bullish momentum into the market. That vertical represents the length of the move I'm projecting. I would long it from the $76.10 to $92 only if there's a break followed by a retest of the $76.10 price point.
*DISCLAIMER* THESE ARE JUST MY HUMBLE OPINIONS, NOT TRADING ADVICE.
GBPAUD Mark UpThis is my GBPAUD markup that I'll follow 'til 7.12.19. Levels are color coded so there's no confusion since I utilize multiple time frames. I react to my levels, so I patiently wait to see certain things take place in the market. *DISCLAIMER* THESE ARE JUST MY HUMBLE OPINIONS, NOT TRADING ADVICE.
GBPCAD Mark UpThis is my GBPCAD markup that I'll follow 'til 7.12.19. Levels are color coded so there's no confusion since I utilize multiple time frames. I react to my levels, so I patiently wait to see certain things take place in the market. *DISCLAIMER* THESE ARE JUST MY HUMBLE OPINIONS, NOT TRADING ADVICE.
Good timeframe correlation on AUDJPY to shortUsing linear regression and resistance to guide this trade, across multiple timeframes there is reasonable indication that the price could be overbought and move lower.
ENTRY
At the time of the video, there was some support appearing on the lowest time frames (5, 15min) but should that get broken a move towards the mean of the linear regression channel is viable.
STOP PLACEMENT
A stop could be placed above yesterday's high (27th May 2019), or a more conservative stop could be placed above the high on 20th May.
PROFIT TAKING
Profit taking could be at the mean of the linear regression channel or at the lower linear regression channel. In both cases, with either of the stoploss placements described above, the reward to risk on the trade exceeds 1:1.
What are your thoughts? Do you agree?
BTCUSD MarkUpThe levels I would watch out for that BTCUSD is approaching is 7397.6 - 8506.7. Due to the bulls showing a lot of momentum I'm confident they can break through. Should it experience a pullback soon, I would be interested to see if price break or respect the 6681.6 level. *DISCLAIMER* THESE ARE JUST MY HUMBLE OPINIONS, NOT TRADING ADVICE.
AUDJPY MarkUpThis is my AUDJPY markup that I'll follow 'til 5.10.19. Levels are color coded so there's no confusion since I utilize multiple time frames. I react to levels, so I patiently wait to see certain things take place in the market. *DISCLAIMER* THESE ARE JUST MY HUMBLE OPINIONS, NOT TRADING ADVICE.
USDCHF MarkUpThis is my USDCHF markup that I'll follow 'til 5.17.19. Some levels aren't considered "fresh" anymore. However, that doesn't mean that price won't be affected in some way, shape or form. Levels are color coded so there's no confusion since I utilize multiple time frames. I react to levels, so I patiently wait to see certain things take place in the market. *DISCLAIMER* THESE ARE JUST MY HUMBLE OPINIONS, NOT TRADING ADVICE.