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GBPUSD Simple Price Action Trade SetupHi Traders! It has been a while I posted here. I caught a bug around June so I had to take a break to get proper treatment and heal myself. Remember guys! Your health is your greatest wealth. The market is going nowhere, it will always be there as long as the human race continues to exist. Trading has to deal with mental and psychological wellbeing. When you're sick you won't be in the right state of mind to trade perfectly. So always take some time off trading to get treated whenever you're sick so you can bring a feeling of peace into your body. Your trading can move in a new direction that will guarantee you are inviting ease, flow and even “miracles” into your life. BACK TO GBPUSD ANALYSIS: 1. In the chart above, the price made a double top pattern and break out of the inner trendline. 2. Price also made a 4HR bearish flag/corrective pattern and price has broken one of it's Counter Trend Line (CTL) that's visible on H1. 3. Price has the potential to move lower towards the major trendline and beyond in the days ahead. I will be watching how this plays out. Support this analysis with your like and comment and also follow me to enjoy more trade ideas/setups using different trading strategies. Safe Trading, Veejahbee.
Short
by Veejahbee
$SNAP long term playWith schools closing nationwide in the US and other countries (although $SNAP) isn't as big international (86% USA usage), the average user per day should increase from 218mil last quarter as well as monthly active users clocked in at 360mil the previous quarter. Last quarter (4q 2019) revenue doubled in advertising so the company was already gaining traction in the demand market for advertisers; expect that number to increase or at least hold. The drop off at these prices show a good risk/reward ratio. Snap has lost 50% of its market value in the past 3 1/2 months, there is a lot of room for upside especially with a likely increase in users and revenue.
NYSE:SNAPLong
by levi.stern95
USDCAD in significant areaAs we can see on the chart, the upper trendline drawn has been holding the pair at bay for months. Now that price has found its way back one can only expect two things; 1. A breakout above, retest and continuation to the upside, OR 2. Rejection of the trendline and reversal to the downside. At this time, we have two indecisive daily candles already held at bay by the trendline signifying a possible reversal-our second scenario. We'll need to see price break below the lows of the indecisive candles for a proper signal for downside movement.
Short
by dtonysav
2
$8000 Target Reached! Now Long???I'm going to be completely honest with you, I have no effing idea what happens next. At this point, I am operating purely off of intuition. Technicals are great. We like to believe that they give us a good probability of what happens next. And I did use technicals to predict this $8000 target (see my last few posts). But really, when it all comes down to it, technicals are just that; they are merely indicators, historical markers that show us statistically what the market will probably do next. I don't know what the market does next here, but I'm betting that we start heading up. There are just too many bears in the water right now. I think it's time for the whales to feast on some bear meat. That's all I got today. Happy trades all.
COINBASE:BTCUSDLong
by stewdamus
Simple, yet effective stock movement analysis -- BULLISHOk, let's face it... Oct-Dec 2018 was terrible for the global economy -- virtually all stocks were down... let's just consider year-to-date... Previously, likely Double Top formation leading to decline. REPEAT? IF considering THE "ultra-bullish parallel channel" (UBPC, ideal for all irrational growth plans)... this would break through to negative side, down to $83 support -- as suggested in all of my other charts, then rebound back to $110+ within a month or so... ER coming up, possible buy-out, growing international business and verifiable positives! This seems quite likely! This is as simple as it gets when it comes to analyzing a stock's recent movement... not too technical, just visual observation... but sometimes, you need this macro-like perspective to gain clarity! Combine this chart's concept with the 2Y chart... the MACD is about to take a hit there ... that is a bit too technical for some bulls to handle, but it's always helpful to be able to flip sides when trading, and not be too emotionally attached to your SYMBOLs... Best of luck to all traders! *FOR NON-PROFESSIONALS* The "ultra-bullish parallel channel" (UBPC) is the jar with too many cookies... however, just because I mock it for being unsustainable in the long-term, it may temporarily prove successful for many popular growth stocks... That said, each growth stock needs to find homeostasis every now and then to balance itself out for the true gains... You don't typically lose 50 lbs in a month and expect to stay there -- it takes time to make the true gains. ROKU is about to shed off 20 lbs this month, which is still a bit fast -- and it will keep eating the movie theater popcorn until it bounces back up 100 lbs from where it started ;)
NASDAQ:ROKULong
by ogdabber
Up, Up & away for USDCADI use multi-frame technical analysis to support my set-ups as higher time-frames are always more reliable. Therefore, lets look at UC by starting on the monthly time frame. Monthly time-frame: The ascending trendline, indicates that the current trend is bullish, thus looking for longs will be better than shorts Weekly time-frame: When dropping down to the weekly time-frame, it can be seen that the pair is moving in an ascending channel, due to its consecutive higher highs (HH) and higher lows (HL). further approving that looking for longs will be better than entering any short trade. daily time-frame: The last daily candlestick in the yellow bubble (15/03), indicated a reversal of the downtrend that the pair was currently in from the weekly key level 1.34500 to the monthly key level 1.33250. therefore a long position is now finally presenting itself. Explanation for long-prediction: 1. the pair is showing an uptrend on both the monthly and weekly timeframes (higher time frames = more reliable & never trade against the trend) 2. the reversal candle around the resistance-turned-support key level 1.33250 3. last daily closure indicated a reversal in trend long trade setup: in the long term, i predict the pair reaching the 1.38750 (trendline), or the next major monthly key level 1.40000 however, in the short term, multiple TP's will be placed at the upcoming weekly and monthly key levels of 1.34500, 1.36500 and the final TP (that of the long term prediction) i will look for an entry on the 4hr time frame, once it rejects the 1.33250 region again. risk:reward ratio is within my trading plan.
Long
by YajnaR