SPY...Consolidation for now...Let's hope for a $290! Great New SPY is consolidating along the 1 FIB line. Minor correction is holding around the $280-278 range. We need to see this hold if we want to maintain an ongoing rally for stocks. If we do gun for $290 which was the previous ATH I predict the broader market will drop like a rock shortly after.
Sigh...its been a nice 3-month bull run :P Fingers crossed. Set tight stop losses on all your trades.
I'm expecting some GREEN tomorrow (3/21). Lets hope this pans out for my EA day trade.
Happy Hunting
Reg <3
Tradeanalysis
GBP/CAD -- Institutional Money is SHORTGBP/CAD -- heavy manipulation to the upside, wiping out many traders at 1.76400 and 1.77380!
Patience and timing were key to avoid heavy losses.
Our team were in at 1.75837 but with stops carefully placed at key levels which kept our position in the market while other traders faced heavy losses.
Target 1 +160 points.
Target 2 +320 points.
Target 3 +480 points.
Stop loss at 250 points.
More posts to follow on why we trade with multiple targets.
GBP/CAD -- Institutional Money is SHORTGBP/CAD (more on our IG page - TWTI.trading)
Heavy manipulation to the upside, wiping out many traders at 1.76400 and 1.77380!
Patience and Timing were key to avoid heavy losses.
Our team were in at 1.75837 but with stops carefully placed at key levels which kept our position in the market while other traders faced heavy losses.
Target 1 +160 points
Target 2 +320
Target 3 +480.
Stop Loss -250
Great risk to reward ratio and more posts to follow on why we trade with multiple targets
Baby cup and handle on BTT 15 MinuteLooking at the 15 minute candles a baby cup and handle has formed
Oversold SP500 on the short term - Potential move up 4 stocks! SPY hitting oversold on all time frames leading up to the 4HR. A lot of "bears" in the market. What i am seeing is a consolidation phase after hitting 40-70% gains on nearly every stock on the market. Granted this was in tandem following a -50% market decline from Q4 of 2018.
Again what must come up must come down. A lot of people are thinking a major market correction is in order...I personally think that would not happen until the election year of 2020. We still have some time to make good money before a broader pull back. Overall people are still bullish, almost to a fault.
My longer term theory is when normal markets correct CRYPTO market will RISE :) As some of you may know I have mainly built my following and trading group around crypto and have done fairly well.
Regardless! Looking forward to SPY trade next week. I am utilizing this chart to help base some of my POT Stock Movements. Again, be very cautious in this market. Falling into FOMO will inevitably result in Panic Selling. Set SL's to an affordable loss %. I normally set mine to depending on the type of stock, volatility, and the type of risk level you are taking.
Good luck to everyone and Happy Hunting
infinity trades nzd/jpySimple continuation of the h4 bullish structure. After respecting a sig level @76.33 we can see a profit take occur which has caused a short term snap back to our potential entry price @75.60 we will asses price action at this price and anticipate buying pressure being added on the basis of the ascending trend level being re tested this will give us confidence in a bullish market.
We have chosen the 76.33 price for our first target for same reasons as explained above our technical target is @78.00 handle the stop loss for this trade is sitting below the last swing low also below a natural price of S/R.
Stellar (XLM): A look at basic TA on a daily timeframeXLM on the daily looks a little bearish now.
RSI starting to drop, MACD momentum is evening out and I expect a crossing over in the few days. The first red candle has appeared since October 1st.
Unless we see a big rally I can see us slipping further down as outlined in my last analysis.
XLM, wait on better positionBased on RSI and MACD, plus BTC recent movements I will be waiting until a drop into the 4000-4200 range before entering a long with Stellar.
I will be looking to buy back in at 0.20-0.21 USD which would mean a fall within this range (unless BTC breaks upwards which I consider unlikely).
I will update this chart regularly.
This is not trading advice, just my own personal idea and thoughts. Safe trading out there.
USDCAD IDEAMy thoughts on two alternate ideas:
IDEA 1 - If it breaks the support zone and the trendline it would go lower to the next zone which is either at the 38.2% or around the 61.8% on fibs (that's more long term those levels as I did the fibs a bit wider, however even if I did a smaller fibs the zones I drew out will still be around key levels).
IDEA 2. If it instead respects the trendline and pretty much the support zone then it can go to test the resistance zone. Also I did a counter trendline as that could be a possible confirmation for it to go higher plus a possible entry once it breaks and then retests. If it gets to the resistance zone at the top, breaks wait for the retest there and there's a good possible entry.
When it does break the zone that's when you drop down to the lower time frames to get more precise entries on the retest