GE - Showing Signs of Topping ActionRSI is dropping below 70 showing signs of lack of bullish strength. I believe this stock is likely to pullback a bit.
Tradeidea
Will US500 suppress the early optimism?US500 - Intraday
Previous support level of 4700 broken.
Short term bias has turned negative.
We are trading at oversold extremes.
We look for a temporary move lower.
Preferred trade is to sell into rallies.
- We look to Sell at 4700 (stop at 4729)
Our profit targets will be 4645 and 4615
Resistance: 4750 / 4820 / 4920
Support: 4610 / 4500 / 4415
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
EURCHF intraday rallies continue to attract sellers.EURCHF - Intraday
Price action continued to range between key support & resistance (0.9255 - 0.9323) and we expect this to continue.
The bias is to break to the downside.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 0.9323.
There is no clear indication that the downward move is coming to an end.
We look to Sell at 0.9323 (stop at 0.9347)
Our profit targets will be 0.9263 and 0.9253
Resistance: 0.9310 / 0.9325 / 0.9345
Support: 0.9300 / 0.9280 / 0.9255
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
EURNZD intraday rallies continue to attract sellers.EURNZD - 24h expiry
Daily signals are bearish.
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 1.7520.
Expect trading to remain mixed and volatile.
We look to Sell at 1.7518 (stop at 1.7578)
Our profit targets will be 1.7368 and 1.7338
Resistance: 1.7450 / 1.7470 / 1.7520
Support: 1.7397 / 1.7350 / 1.7300
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
XAUUSD - Potential Bearish BreakoutTaking a look at the 1 hour timeframe, price action with Gold beginning to look quite bearish. Seems like all major assets are selling off today and all the value is getting pushed back into the greenback.
USDJPY to see a limited rally?USDJPY - 24h expiry
The medium term bias remains bearish.
Trading within the Channel formation.
The sequence for trading is lower lows and highs.
Risk/Reward would be poor to call a sell from current levels.
Preferred trade is to sell into rallies.
We look to Sell at 143.25 (stop at 143.85)
Our profit targets will be 141.75 and 141.35
Resistance: 143.25 / 143.75 / 144.50
Support: 142.25 / 141.50 / 140.60
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Bullish Breakout - 2:1 R2ROn the 1hour timeframe we have a bullish breakout.
The USD is the strongest and the CHF is the weakest as the NA session begins.
US30 Simple 3:1 ScalpRSI on the 15 min timeframe is now back above 30 suggesting we may see a short-term bottom. With that said, I mapped out a 3.62:1 R2R setup.
Important note when taking my trading recommendations is to always move SL to breakeven once in profit by 25 points with the US30 and then apply a trailing SL to the target.
This helps manage to manage risk in the event price-action doesn't reach the desired target.
Feel free to send me a DM if you need assistance.
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BTCUSD - H&S 15min Simple double confirmation sell setup.
Confirmations Include
1: H&S formation on 15min
2. RSI dropping below 70 on 1hour
AU200 3:1 R2R Sell SetupFirst thing to note is that we have a bearish breakout below the ascending trendline on the 1hour timeframe. Additional RSI is suggesting selling pressure with the bearish divergence.
== Game Plan ==
Wait for a pullback as outlined on the chart to enter a sell targeting a 3:1 risk to reward.
Gold to continue in the upward move?Gold - 24h expiry
Price action continues to trade around the all-time highs.
Trading volume is increasing.
The overnight dip has been bought into and there is scope for further bullish pressure going into this morning.
20 4hour EMA is at 2068.3.
Preferred trade is to buy on dips.
There is no clear indication that the upward move is coming to an end.
We look to Buy at 2067.5 (stop at 2053.5)
Our profit targets will be 2102.5 and 2112.5
Resistance: 2076.8 / 2088.5 / 2100.0
Support: 2065.0 / 2058.3 / 2050.0
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Cad/Jpy bounce backTrade Idea for CADJPY
Bias: Very Bullish
Overall Score: 9
Commitment of Traders (COT) Bias: 3
Institutional traders are showing a robust bullish sentiment towards CADJPY, indicating a forecast of continued upside.
Retail Sentiment: 1
Retail traders appear to be bearish on CADJPY. Given the tendency for retail traders to often be on the losing side, their bearish sentiment serves as a contrarian bullish signal for us, supporting our bullish view.
Seasonality: 1
Current seasonal trends favor a bullish momentum for CADJPY.
Trend Reading: 2
CADJPY is on an upward trajectory, further underscoring the bullish momentum.
GDP Growth: -1
A slight negative in GDP growth, but the dominant bullish indicators more than compensate for this.
Inflation: 2
Inflation metrics are aligning favorably, adding to the bullish outlook.
Unemployment: 0
Unemployment figures are neutral and do not sway our primary bullish perspective.
Interest Rates: 1
Interest rate dynamics are pointing to CADJPY strength.
Additional Factor: Increasing Oil Prices
Canada's role as a major oil exporter means rising oil prices often buoy the CAD. This backdrop solidifies our bullish stance on CADJPY.
Conclusion: With a mix of strong bullish indicators, particularly the COT bias, retail sentiment (considered contrarily), trend direction, and rising oil prices, CADJPY appears poised for bullish movement.
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ETCUSD - 1:1 R2R But Likely to Turn ProfitThis is just a 1:1 R2R setup, however I believe this setup has greater likelihood of turning profit before getting stopped out.
EURAUD continues to hold back the bears.EURAUD - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 1.6150.
Price action looks to be forming a bottom. Further upside is expected.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.6225 will confirm the bullish momentum.
We look to Buy at 1.6190 (stop at 1.6154)
Our profit targets will be 1.6280 and 1.6300
Resistance: 1.6250 / 1.6285 / 1.6300
Support: 1.6200 / 1.6175 / 1.6150
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
AUDCHF - Trade PlanTaking into account today's strength with the Swiss Franc, I'm expecting further bearish continuation with this pair. But before going short, I would like to see a pullback roughly to the 50% retracement area of today's bearish candle.
Should price action pullback to my area of interest (AOI) I'll go short with stops above yesterday's high with targets down towards the 0.57 handle.
GBPAUD - 3:1 R2R Trade Plan Today's daily candle closed slightly above yesterday's high while maintaining RSI divergence. With that said, I do believe we may see a bounce from these lows.
Trade Idea: Stops below yesterday's low with targets around the 50-61.8% retracement area of this most recent bearish leg.
EURNZD TRADE ideaPossible EURNZD trade scenarios
Enter with Ltf confirmation.
For Direct 4hr zone entry manage risk.
Manage risk 1:2-3 RR .
Indicator based SMC approach.
Follow and like for more setups .
WTI to find buyers at market?WTICOUSD - 24h expiry
Previous resistance level of 75.34 broken.
Intraday, and we are between bespoke support and resistance 73.51-77.10.
The sequence for trading is higher highs and lows.
There is scope for mild selling at the open but losses should be limited.
The medium term bias remains bullish.
We look to Buy at 75.00 (stop at 74.20)
Our profit targets will be 77.00 and 77.40
Resistance: 76.14 / 77.10 / 77.75
Support: 74.95 / 73.51 / 72.41
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
EURAUD Trade ideaPossible EURAUD Trade scenario on 4 hr timeframe
Manage risk
Make it breakeven at 1:3 RR
Indicator based SMC approach
Follow and like for more such setups
NZDCAD - How I would trade NZDCADSo this is a two step trade setup.
First I need PA to drop and close below the 23.6 level
Then I need a pullback roughly 50% of the bearish candle.
If that materializes, I would then go short. Otherwise... no thanks. On to the next
That's it - That's all
Trade Safe
EURUSD - RSI Divergence with Bullish BreakoutDaily timeframe, PA broke above 2 levels of resistance last week and now looks to stall out with RSI providing information on lack of bullish momentum.
For now, I'm waiting to see my small green line on the chart get tested where I have an alert. Will PA break back below support which was previous resistance and will we test the 50% pullback area (small green line) to then add to the bullish continuation?
Time will tell, for now I just need PA to test the small green line for my next assessment on what to do or how to trade this.
That's it - That's all
Trade Safe
BTCUSD Likely to Trend Higher in 2024All green lines on the chart are equal in length. I'm using the last green line as a projection tool which estimates BTCUSD above 50k around the first week in January.
Should BTC pullback to 42k, that in my view would be an excellent area to enter with stops around 39k.
== Simply in Summary ==
Long at 42k with TP at 50k and SL at 39k would be a simple 3:1 R2R setup.
That's it - That's all
Merry Christmas and Happy New Year!
EURGBP - Long AoL (Areas of Interest)Considering the fact that this pair is trading above the 200 SMA on both the daily and 4 hour timeframes, I'm looking for buy entry areas in this ascending channel formation.
On the chart I pointed out several areas which basically are along the ascending trendlines. If at any point I receive an alert of price action tagging one of these trendlines, I'll look for a potential long entry.
Now of course I can't expect to always be right and hopefully this isn't one of those setups where I'm wrong, so for that reason if PA decides to break and hold below the lowest ascending TL, I'll exit and book my loss.
That's it - That's all
Merry Christmas!
