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AUD/CHF Potential Sell Setup on H4AUD/CHF formed an interesting SHS pattern and broke below the neckline. The right shoulder retraced at 61.8% of the previous impulse move, while the head represents the high of a price correction that retraced at 78.6% of the previous larger impulse move. The pair is trading in an overall downtrend and in the upper half of the channel, which also signals the potential for further weakness in the pair. The Australian dollar got hit hard recently on reports that a rate cut may be on the table and trade tensions that hover like a dark cloud above China. The Swissy is doing quite well on the other side, with Switzerland (non-EU state) in the process of getting a trade deal with the UK after Brexit.
Short
by MujkanovicFX
GBP/AUD Monster trade has still upside potentialGreat trade taken in CommaFX Telegram channel! We entered at 1.8139 and closed our position 252 pips in profit. Even if you've missed the initial trade, you may still have the possibility to enter long, since the pair has formed a fresh higher high and is trading at the highest rate since Jan 29. Watch out for the 2019 high around 1.8495 (close it before the round-number resistance.) The pair has been in demand after markets priced-in an assumed progress in UK-EU Brexit talks. Want to join our Telegram channel? -> t.me
Long
by MujkanovicFX
BCH trading plan continues - Waiting for the indicator signalsHi Traders, Continuing our BCASH trade from a few posts ago. We exited at the red lines,as the indicator overextension signal and stop loss told us. With some nice profit of 45% from the exit off the overextension signal, and 40% at the trailing stop level. This gives some nice room for the next trade on BCH. We discovered bearish divergence as price moves up (1) and momentum slightly downwards, but definitely not up (2). This divergence really only becomes apparent at (3) when price break through the stop loss and see that the previous high was divergent. This does not help us getting out, but that’s ok, we have other metrics for that. It does however tell us that on this chart, the trend may have ended, and that the following long setup probably won’t get triggered. What we do is keep the breakout level of the setup at the highest level that it plots (and don’t move it down as the indicator plots a lower trend breakout level).This is so you ensure not getting faked into the trade and the trend fails to develop. The divergence also tells us that the the bearish setup will have momentum on its side. We look to enter short, but we need to get a setup, and an entry trigger from the indicator! Daily The daily hasn’t signalled a long setup yet, which I expected the indicator to do.. it will probably come in the next few candles though. So we have a similar game plan we have with XRP: we took the 4HR trend into a daily trend setup. We now wait for either a daily long setup and that setup to be triggered. Or we get a 4HR short setup which gets triggered. Either way the market moves, we’re in it, ready to profit.. And to be honest, I could not care less which way it moves :) If you want to try our indicator out, follow us and drop a comment and we’ll get you set up. Like and subscribe if you enjoy our work! Stay calm, and happy trading!
B
by DariusZen
VECHAIN, SCALP OPPORTUNITY or DESTINED for DOOM?VECHAIN showing bull div on the 12 HR Notice how we have come completely outside the developing VA, this can mean one of two things - either strong downwards movement coming, or a bounce back into the VA. Expecting a bounce to the significant resistance level at the 0.618 fib line, which coincides with the downtrend line and the first HVN of the value area. We need to observe the price action at this level closely to see if we will continue the bear trend, if so then we buy at the demand zone at 127 sats.
Long
by Wolf_Of_Amsterdam
Nailed it! Lundin and Zijin takeover made me 61.17% profitThis fella AMEX:NSU becomes my third most profitable stock so far in my US portfolio. 61.17% profit!! Initially entered on 19th Apr at 2.73. Anyway the story is that Nevsun had a few takeover attempts by Lundin but failed due to the unfavourable offer price of C$4.75 in July. The takeover news had already bump up the price to around USD3.50. The recent takeover by Zijin Mining Group that offers C$6.00 per share sent the stock price to USD4.40. Awesome!
NLong
by diyquant