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EURUSD Possible TradesGoodday traders, Price showed me strong Bearish momentum last week. Im looking for price to retrace in the beginning off the week to fill more Shorts mid term. For today if price retraces in the NY session i will be looking for a possible Long to take out BSL. The Long POI is under a current bullish swing, so im expecting people that are long to place there SL under the structure, and with it a chance for the market to take out the buy stops and new people trying to long on a obvious zone. Note that it can also hold the bullish swing and continue higher from there. The zone im playing my longs is untested 5min imbalance, creating a probability that there would be still long orders waiting to be filled. I will watch price for potential short entries if it will reach the short OB above. Can be a setup for tomorrow. No financial advice. Dave
Long
by Dave_DayTrader
2
QQQ Cup & Handle Set-UpQQQ looks bullish, classic C&H on micro time frame - Volume matches pattern 4:1 Profit potential. TQQQ for 3xLeverage= 18%-20% possible profit / 4-5% possible losses ***Be Careful -Negative CPI data on Thursday will cancel any bullish moves - lots of volatility & market manipulation to finish this week Everyone is so Bearish right now.. this is the contrarian move... watch out for the composite man or woman Proper entry: wait for break above resistance with large buying volume - *set your stop losses
NASDAQ:QQQLong
by Black_Sheep1
7
CAKEUSDT - Trade setup: Bake the cakeGreetings! I am looking to enter a nice 1:4 RR sell setup for CAKE that has some good potential ahead. So, as you can see on my chart, we broke an important level on the 4H TF and afterwards we started to drop. That move was a price manipulation to get some sellers out of the game. After this 4H bearish wave the price started to pullback and it looks like it is preparing for another drop. My TP areas will be around the 1H demand zones highlighted on the chart. Trade details: Entry: 3.922 SL: 4.035 TP1: 3.469 TP2: 3.320 RR: 1:4/1:5 Risk: 1% account balance Trade with care. NFA
Short
by AlexAnastasescu
Potential ZIM breakout trade setupHere's a trade setup I've been waiting for to get ripe for a while. ZIM: the dividend IPO pump n dump darling. It has some ridiculous fundamentals with currently a book/share of 48.4 and a cash/share of 26.12 along with a crazy 166% dividend: finviz.com It has been following this linear regression trend on the way down, just as well as on the way up. And now it is making a large wedge (orange) that looks to me like it is ready to breakout soon. We also got some positive divergence on the MACD and RSI. There's also a long-term resistance line developed on the RSI that I'm watching as potential resistance. One of the RSI lines will have to be broken in the coming months and I'd expect that'll be a big move in what ever direction that will be. Now as for bearish patterns, it is forming a pattern that looks like a bear flag (blue), so there is the risk of the flag being broken and it continues the trend lower. This one also likes to gap up and down, so there is the risk of stopping out lower than my stop. If it breaks out, I'm hoping for a rally to the low 20s and will exit there, as it will be hitting the top of the regression trend, increasing risk substantially. You can also see there are a lot of bag-holders at that price based on the Fixed Range Volume Profile so they will likely want to sell at those prices. My stop is quite loose at 15.78 since zim is a wild one, and if it's going to be an uptrend, I would not expect it to go much below the previous lows. If my target is reached, I'd then watch on the sidelines to see if it is primed to break out of the regression trend, creating an epic rally. The broader market conditions will have to be in a good situation next year for such an event to happen. I got a bit excited this morning and bought at 17.41, now it is an even lower price, closer to where I originally wanted to buy lol. But the risk-reward ratio I have for myself is 2.55, not too shabby! Note: I chart this with the chart adjusted for dividends because they make such a large impact on the chart and I've noticed that my old zim chart is now all messed up because of this, so the published chart appears to get less accurate as time goes on.
NYSE:ZIMLong
by Lynxys
3
AUDUSDAUDUSD - Interesting look It is very interesting range forming, we got pattern, we are at key resistance on higher time frame, within in a channel + TL but it's a waiting game on this and I think many take time it may break next week FOMC, I think that's when all FX majors will break out to either direction further. You can't predict what the FOMC are going to state, you can look at CME FedWatch Tool, which is useful but Powells commentary you can't predict that unfortunately... So what's the plan In-between now and then I trade within the ranges that would be lower time frames until this breaks either direction and then you got think to yourself 1. Is this a false break out either direction? 2. What made it break out was it more DXY move etc There are many other factors to take into consideration. That's where your OWN plan comes into execution. It's really important to not follow these marketing signal providers, trading gurus that try sell you expensive courses, they not worth it and various fancy indicators etc. There are many out there, but that's not what's going to make you successful in trading that's the reality but a trading plan of your own, that's when you're set for life! If it breaks below technically the 200 EMA is your target area and break above that psych level .7200 areas is target areas. A great trader once told me, "Don't make your PnL on a Friday". Have a great weekend, Trade Journal
by Trade_Journal
Analysis of 23-1This week we have the following news moments to process: TueJan 24 10:30 GBP Flash Manufacturing PMI 45.4 45.3 GBP Flash Services PMI 49.6 49.9 15:45 USD Flash Services PMI 45.0 44.7 22:45 NZD CPI q/q 1.4% 2.2% WedJan 25 1:30 AUD CPI q/q 1.6% 1.8% AUD CPI and/or 7.5% 7.3% AUD Trimmed Mean CPI q/q 1.6% 1.8% 16:00 CAD BOC Monetary Policy Report CAD BOC Rate Statement CAD Overnight Rate 4.50% 4.25% 17:00 CAD BOC Press Conference ThuJan 26 14:30 USD Advance GDP q/q 2.6% 3.2% FriJan 27 14:30 USD Core PCE Price Index m/m Our positions: #EURUSD: this weekend it was indicated by some central bankers from the Eurozone that there will be a few more moments of interest rate rises but that deep recession will probably not occur. So an increase in this pair certainly applies. today our buy position is in the minus. But that will be for today. GBPUSD: Despite having a buy close to the top of the past two months, we are staying put because the trend is long and compared to recent weeks, the pair seems to shoot up on a rebound. NZDCAD : we're long in this pair that's now moving pretty much sideways. COT data and trend data remain long. NZDCHF : we are keeping an eye on this buy trade because the candel started above the entry today. Through this we can go trailing. US500 : we turned on a trailing. At the end of the NY session we can reschedule the sl. Gold : we let our buy trade run.
PEPPERSTONE:US500
by Probeleg
A clearer trading pattern than Satoshi VisionContemplating Bitcoin's next big move I predict that the next significant move will be lower. I have a few reasons for this view, among which are technical, macro and sentiment. The first being the most visual, are the technical patterns which I have highlighted. As Bitcoin has traded rather different in this bear market, I have found that looking for specific support ranges and trend lines hasn't been particularly helpful. The solution I found, that has benefited my trading, is watching the daily moving averages. Combining this with the added benefit of watching the RSI can give a significant edge in timing this uncertain market. Watching the 200 Daily moving average, which had formed a major confirmation signal for this bear market in March 2022. Since then the 200 SMA has become untouchable and therefore not very relevant the last few months. We must focus on the 50 and more importantly the 100 SMA which has formed a barrier like two south poles of a magnet. Looking at the Red circles highlighting some of the major pivot points in Bitcoin's price before heading lower, we can see how the 100 SMA has two types of resistance. The first being when the Candles press against the 100 day before getting rejected. The FTX bankruptcy ruining the chance for a more significant breakout to the upside, highlighted by the purple triangle. The second form of resistance is when Bitcoin's price achieves a break above the 50 SMA but fails to climb towards the 100 SMA. This, in my opinion really shows how fragile and out numbered the market's bulls have been. We are currently seeing the second situation with price action running up rather quickly to the middle of the 50 & 100 SMA but losing momentum. We are seeing such positive prices, mainly due to the related positive price action in traditional markets, such as European and US indices. The S&P 500, being my go to indicator for general market sentiment, is currently entangled with the 50 & 100 SMA and might even have one final push towards the 200 Daily SMA but will be rejected again. This is an almost identical moving average pattern as seen in October 2007 - June 2008. A period before the last bulls woke to smell the coffee. Only to find what smelled a lot like excrement in their collective coffee cups (Portfolios). Assuming with a high degree of certainty, that positive traditional market sentiment is waning. As we enter the first acknowledged year of this Great Inflationary Central Bank Recession, caused by a combination of negative interest rates and a supply chain bullwhip effect even the Russian military's logistic department might have been able to spot. We are going to lose the last bit of positive buying sentiment, likely leading to Bitcoin's next strong rejection lower. When also considering the Yellow circles positioned on the RSI chart at the bottom, we can see a fairly predictable pattern. By watching for when BTC's RSI level for when it nears 60 and above. While combining the SMA pattern described above. We can use this to prepare for the next leg lower. I believe we are witnessing a prime example of this, at the time of writing. Hopefully leading to another similar result over the next few days or weeks. From a macro point of view, Central banks are all engaging on further tightening measures. While Inflation is running rampant and significantly raising prices for all goods, particularly in terms of rental properties, food and living expenses. Aspects that are not proportionally represented in official government reports. Combined with this is wave of lowering company earnings and a swathe of high paying lay offs in the financial, tech and manufacturing sectors. These factors have not been factored into price yet and the likelihood of the Central bankers holding higher rates for these next two years, has not be accounted for. The final aspect in this analysis/rant is the slow selling that has occurred. With each slow rally against the downtrend, each sideways accumulation is being held up by a "Buy the Dip" mentality. Retail is buying the dip the same way as in every bear cycle. The dumbest of funds are buying the dip, when a likely larger 25% sell off is coming down the river to Niagara Falls. This is just one Investor's opinion, best of luck out there. Hope to see you at $12k buying a few Bitcoin too.
BITSTAMP:BTCUSDShort
by FortunaAlgoAnalytics
10
$GBPCHF$GBPCHF - A break to either direction! We had a pull back finally in the market, AUDCHF came down and various other markets such as ES, GBP etc. Now I'm going through minor FX pairs this is a break either direction. We are within channel, added alerts in to either direction of break. If we were to go above and carry on within channel expect 200 EMA target areas. If we were to go below and beak down - 1.11600 / 1.11400 areas is a good target area. Don't forget to trade your own plan! Trade Journal
by Trade_Journal
1
$NZD - Interesting area!$NZD - Interesting area! I always go towards higher time frames, as Higher TF = Shorter TF movement it's really is as simple as that. As you can see, this is the weekly now we are within the ranges: Lows: 0.62 /.61 Areas Highs: 0.65 Areas For now you execute the range trade playing between those high and lows until a break. A break to either direction, would take you to either to trendline resistance and 200 EMA areas. A break below low of the ranges, you go towards great Fib area of support 0.60000 areas Overall, the market is looking over extended even with DXY but picking bottoms isn't wise decision to ever make! Key Tip: Follow your own trade plan. Have a great week ahead, Trade Journal
by Trade_Journal