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Trendcontinuation

GBPUSD - Bull Flag Forming Yesterday I shared an idea on the GBPUSD talking about a potential move higher to the $1.31-$1.32 levels and there being 2 ways to attack that type of trade. 1) The pullback trade which was featured in yesterday's post and 2) A breakout trade which I'm featuring today. Currently price action has come off of a high momentum Bullish move and is now in a period of short-term sideways consolidation. This particular pattern formation is called a Bullish Flag pattern and the prediction is that we will see a continued move higher from it. Essentially the market is has made a big move, and is taking a break before the continuation of that move. Aside from the high and tight flag, breakout patterns don't necessarily offer the highest win percentage. But if you're like me, meaning you can care less about win percentage, you'll notice that the risk reward is often in your favor with these types of moves. Akil Excited for some College Football this weekend! and USA v. Brasil competing up the street from me!
Long
by Akil_Stokes
37
EURUSD 1 Day - A Shift In Longer Term ViewsI'm taking some time off from trading with the addition of a new family member, but of course I couldn't completely stay away so I wanted to come in and give you a quick update on my EURUSD views. (For some perspective you may want to go back and look at my previous post & videos discussing the Euro) With the violation of the neck line we officially have the completion of a head and shoulders bottom which has formed right after the completion of a bigger head and shoulders top. Despite this being a classic reversal pattern, there really isn't too much room for expansion within the key level of the underlying trend. So here are my views. As long as price does not violate the blue line, then my overall bearish bias remains. HOWEVER, if we end up violating the green line then I'll be looking for yet another reversal in trend and a move that can continue much higher. If price remains inbetween those 2 levels then I honestly have no interest in the pair until a clear direction is determined. Akil
by Akil_Stokes
17
SPX Imminent retest of channel support: Rejection from ATHCompare to 6/14 Harami cross. Identical price behavior 8/21-23 c/w 6/12-14 and 8/7-9. Slapped down hard from high channel retest after 8/21 high. All the Doji have been seen- pin bar, shooting stars, Harami crosses, engulfing bears, Red Shooting star today. Perfect setup for lower and soon- imminent. Today I observed a bear flag all afternoon following the sharp intraday correction on 15m charts. Daily chart on 8/23 looks eerily similar to annual chart, past six months! Expect a harder test than last time. Probably at least to 2791 as shown in graph, maybe lower; WS2 at ~2777. Gonna be a choppy week. We have convergence of twin C waves bearing down from 08 Feb and 27 Jun A wave downspikes, rolling together now will bear down hard. Batten down the hatches- good luck! This isn't investement advice and I ain't no advisor. This post for amusement and education only. Enjoy!
SP:SPXShort
by DaddySawbucks
3
ETP trend continuation Wut ? Doc says it's a sleeping giant ;) ETPUSD is bullish and did an instant correction few days ago (or a pump and dump... ? :p ) Anyway, trend is continuing, and it's moving in an upward channel. It's heading to key resistance levels (2.8 and 3USD). We can see that MA90 provides a very strong support. If it holds for some days, we could see a strong up move. BUY : Around 2.5 support, or on MA90 level SELL : Resistance line 2.8 and 3 STOP : MA90 breakdown Cheers cryptoshaggerz ! **NOT TRADING ADVICE** Manage your risks properly, and always trade with money you can afford to lose totally
ELong
by Le_Halimou
6