Tradeplan
DXY Hourly Chart. Start Looking for Short Plays off 97.30 - 97.5DXY is starting to get into selling territory. Expecting to see a test of 97.3 to 97.5 and if conditions are correct i will be taking a position in EU and possibly a few other pairs
I will link a USDCHF chart I see a few plays on as it seems to be correlating with DXY the most of the basket pairs. More charts to come as we reach 97.30s in DXY which would be roughly .95 in usdchf
Weekly Analysis of BTC/USD 05/17 - 05/22/2020These are my projections for the next week of bitcoin which could have multiple turnouts though now I see an ascending trend.
1. Resistance is is tested around 9878.00 area, and rejected back to support in 9417 - 9155 area.
2. Resistance is tested and surpasses into $10,000 - 10,200 Range.
Orr
3. Reject and fall through current support to the next major support area of $8500 - 8100 area.
In the very short term here is a long trade idea on EAHere is another Forex Trading Snack.
This is an example that I saw in the market this morning ( my morning ) and my trade setup as I took it, long with my thoughts as I planed it out. Price action certainly has changed while I was slowly typing this post. Just an example of how I trade a larger true average range currency pair. The plan here is to trade long in a short term trade but I believe counter trend in a longer market view.
Let’s face it trading a pair that has also this kind of daily true range isn’t easy. I mean why risk more then you have to. Right? In my book I try to risk less even though I could live with that kind of daily true range.
So here it is in my view! This isn’t advice, just a guy who risks his own money in search of making a bit more then what has been risked. In other words I trade! And that’s the life of a trader.
On my 1H chart I see the 21 SMA line ( in black ) bending upwards, and price has challenged the 89 SMA ( in red ) but pulled back. Here is where most would use the low as a stop setting point if the entry was to go long, but that’s not in my plan.
I use the law of extra large candles. What that is I look for a longer candle ( up or down, green or red ) the kind of candle I believe is where a larger amount of money has been placed compared to the previous 5-10 or 20 candles. I quickly place a retracemen study on that candles body or even the next few candles after that one—-what I’m looking for is a good pullback, a tradable one that also has good support or resistances to then trade with a measured but well defined risk zone. One where the stop is but a small part of the daily true range.
So on my chart post you can see I really like the red box as my buy zone, under the red box as my stop area. But looking for a break out over the top pink line. A line that shows me where previous price action has on the way down had slowed with momentum and has capped upward movements, indicating a defensive line where the bears have stepped in pushing price back down. That’s the battle ground! Breakout above that pink line and some bears will cover and take profits if they have them. Thus pushing price farther and still higher.
The large somewhat oversized candle shows a shift in the short term momentum and direction but better still it shows where the money entered into the price action and so in my opinion a tradable zone to then target a set up.
All of this is just one tool in the traders tool box and just an example of a current real life in the market trading ideas and how one trader looks at a strategy of trading this market.
As always a trading plan need statistical evidence of past price action to then develop a statistical but personal edge in trading. And this only helps develop an emotional control to what could go wrong. Because in trading risk is the only controllable thing we as traders we can control along with emotional or none emotional decisions we make.
In trading you either make dust or you will eat dust!
All the best in your trading.
If you decide to trade any ideas always remember that the risk is all yours. Just because I trade a setup or as I have posted doesn’t mean that’s right for you to do the same.
Xauusd Price actionHi Friends,
Xauusd Pric e is bullish so Let's me create Trade breakout Setu p plans:
# Plan 1 - Bu y @1705 and over, our tp1 is @1747 or tp2 @1808.
# Plan 2 - Sell @1670 ( better after bullish retest @1680/@1700 )
tp1 1576 or tp2 1486.
Remember all direction need confirmation before opening
My perspective for USDCAD! Good oportunityI was taking a look at USDCAD and saw some oportunities that could be great for us!
We had a nice and strong broke of our previous support that was holding the price for a few days, that means we must wait for a correction
to take advantage of this short. In my opnion the bears are holding nice for the while.
Let's wait for the zones and make a good decision before we place our entry.
SEE YOU GUYS IN THE NEXT ANALYSIS!
OANDA:USDCAD
EUR/AUD: Swingtrade-Opportunity#SELLHey tradomaniacs,
welcome to another free signal!
Important: Wait for the break below mirror-level before you sell.
We want to see a clean breakkout and retest / rejection.
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Type: Swingtrade
Market Sell: 1,62160
Stop-Loss: 1,62800
Target 1: 1,61510
Target 2: 1,61090
Target 3: 1,60565
Stop-Loss: 64.0 pips
Risk: 1-2%
Risk-Reward: 2,48
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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. :-)
GOLD - New Long positions - 8 to 1??Hello all - DuncanForex here with another trade idea
Following the move higher on the 24th and 25th October, I am looking to enter again off Support.
Price is at a great level and I'm long at 1486
Lets see if this can get up to the previous highs from last week
Reason for entry is
Off Key Support level
RSI showing divergence on 1 hour chart
If it breaks the 1495 area - I will hold certainly to 1515 and may take partial profit and let it run
3 positions are open.
I will watch accordingly
Find me on Twitter , YouTube and my website
thanks for looking
Safe Trading
Duncan
USD/CHF: KEY-Levels to trade the NON-FARM-PAYROLLSHey tradomaniacs,
welcome to a quick preparation for the NON-FARM-PAYROLLS.
Here you will see nice entrys to sell and buy.
Buy: 0,99534
Sell:0,98423
Targets, Stopp-Loss and Management is up to your trading-style and timeframe you trade. ;-)
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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. :-)
Non-Farm-Payrolls: YOUR Preparation and ENTRYS!#TRADEPLANHey tradomaniacs,
welcome to a quick video for your NON-FARM-PAYROLL preparation.
PRICE-LEVELS:
Statistical edge: Short
Short-Area at 1,10274
Long-Area at 1,10539 or 1,10879
NOTE THIS PLEASE:
Fundamentally, these NFP`s can be very tricky for the market to interpret!
The market is currently driven by news regarding to the tradewar, brexit and monetary policy of the FED.
The rally of this year, especially in the USA is just based on hope....this is why the market reacts with volatility whenever news about the tradewar appears.
So what is the market hoping for?
1. First of all, the market hopes that Trump and Xi Jinping will finally find a deal to end this tradewar.
This is why every tweet from Trump causes huge moves at the market.
The market seems to believe that the current globale cool-down is mainly caused by the tradewar and its consequences.
2. FED`s monetary policy
The market priced in further interest-rate-cuts by the FED in order to provide the market more liquidity (100% in september).
This would boost the economy and would be a play into Trumps hands because he could keep increase the pressure in terms of tradewar-talks.
As you can see: BAD NEWS can be GOOD NEWS and vice versa.
If we get to see a good result, the FED would have less reasons to cut the interest-rates -> Dollar could go up -> Hope of market for further rate-cuts is gone!
If the get to see a bad result, the FED would have more reasons to cut the interest-rates -> Dollar could go down -Y Hope of market for further rate-cuts confirmed!
The questions is: What will prevail?
The reality, in other words the economic datas? Or the hope?
If you newstrade, don`t get fooled by GREEN and RED digits here.
Bad news can be good and good news be bad. ;-)
More importantly I expect the market to wait for Jerome Powells speech after the NFP`s.
THE MARKET WANTS RATE-CUTS.
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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. :-)