Tricky
Tricktrap and Fool company, We are Huntin Ducks now Babies. TraderMan PennyPorkChop looks out for opportunity to survey and examine the latest value activity in the market in a way that makes it helpful to you.
Utilizing Technical Analysis, I play out an insiders view of the activity in the financial exchanges today and gives you my Day Trading of 6 years of Trading Volatile current market , examining market patterns , and interpreting of where the market is going.
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AAL the maker is trying to make a tricky chartThe best is risk management and also stock capital management , why ?
This chart is full of opposite translation and opposite meanings and different probabilities ,
I give you the main levels of support and resistance , targets for all patterns ,
You should do the best according to the movement and breakout that may occur ,
Except the mainly trending AAL , It is still tricky ..
Take care and have my best wishes ..
AUDJPY (6H) - tricky situation.I've been watching price action in the last few days on AUDJPY.
My balance of probability is 51% for the south, leaving 49% for the north. I know 'everybody' wants better odds than that. Well, I did say it was tricky - at least for me.
My estimates are based on my analysis. Not a 'feeling'. I wouldn't be trading this time frame anyway. I'd be looking for a nice small trend to milk - one that is nested within one of those candles. So - if a small trend moves south, I'd take that. If a small trend moves north, I'll go with that. I go where the market goes - but from 'under the hood'.
If others have a different perspective based on their own methodologies, feel free to share.
Disclaimers : This is not advice or encouragement to trade securities on live accounts. Chart positions shown are not suggestions. No predictions and no guarantees supplied or implied. Heavy losses can be expected if trading live accounts. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
XAUUSDXAU/USD UPDATE!! TREND SPOT IS BEARS, LOOKING WITH ELIOT FROM ENTRIES & TP. HOPE THIS UPDATE CAN SUPPORT YOUR TRADE MY FRIEND. PLEASE SUPPORT MY IDEA WITH COIN, OR YOU CAN SUPPORT ME IN MY PAYPAL LINK DOWN BELLOW.
PAYPAL: PayPal.Me/bgus26
TRICKY GOLD - BEWARE FAKE SIGNALS - GC1! - 30MNWe have seen the COMEX Gold Future showing some fake signals during last weeks. Signals followed by very strong volumes, but, seeing the market price running the other way around.
Be careful when trading the Gold Future.
All the red arrows are showing examples of fake signals.
The blue line is an overall trending line being a strong support, if broken there is strong probability in seeing GC1! Gold Future running further down.
The top black line acts like a very strong resistance. We have seen the market testing it and failing to pass it.
The black line on the top is stronger and probably more difficult to break than the blue bottom line.
Sellers who came in strongly 3 weeks before have strongly impacted a Gold promised to stay above $2,000 last month. See how things change quickly.
It is probably better to stay away of the spot and wait for the Gold Future to show a clear direction after having broken a super strong line which are more visible in the Daily chart.
GPBAUD (4h) - Probable long positionThe tip of the current position with GBPAUD (4H) looks like it is near the end of a contracting wedge pattern. We also see some huge scallops.
This may not be a great position. But in situations like these I'd take a stoploss. This could be tricky because one has to expect price to fall out of the wedge and then return inside, moving up. But it could also break out and down in which case the setup fails.
DOLLAR: The Moment Everyone Is Waiting For...Good Morning !
Today we are looking at the DXY. We were short a few weeks ago and took a good profit but long term target was not reached. We personally think that for now its not time for a short entry. So many people are looking for shorts and/or holding positions. So we are waiting for another trap move to the upside before we enter our short position. With this i wish everyone a great weekend !
XAUUSD Trading At a Very Tricky LevelIt is difficult to forecast the direction of XAUUSD from here as there are two very possible options. The smaller corrective structure formation detailed in my previous gold prediction did not break to the upside and so the long was not confirmed. We then saw a move to the downside which broke a key demand area. I am now watching smaller time frames for an indication as to which option will play out. We are still trading within the corrective structure on the daily time frame which has a bullish formation but it is very possible that there will be a 5th wave down before we see more upside.
BTCUSD: Scope for further Near Term Upside within Bear FlagBitcoin
Continuation pattern forming after the failed break earlier.
Just a bear flag so far. 6710 first support and if it's going to
bounce it should be from the lower parallel of the nascent
pattern - but there's no real interest A worry for any brave
bulls at this point.
In very near term we may get a bit of buying into US open -
may regret it later but am not looking to follow it higher even
so at this point.
Looking to short again from higher up towards 6840-6860 if
the current rally lacks any volume as it rises orif 6700 gives
way first with a stop around 30 or so higher, which is risky, as
below, if we see it happen.
As yesterday, on the downside there are a series of closely
positioned support levels beginning at 6660, then 6518-6481
and last gasp support at 6428 - which must hold up today for
Bitcoin bulls to stand any chance from here.
This might make trading the break lower trickier than usual so
will need to take care if trading this part of the range.
But any failure to hold 6420 from this point today will likely
flip Bitcoin down to 5887 next. So 6425 is most likely the
point that swings and day traders are likely to start to short
more aggressively when broken with stops either quite tight
above, and no higher than 6620.
The incumbent government is set to lose the ruling power.Price level satisfaction can only be achieved if FBMKLCI retest 1775, to conclude the correction (which began in Feb 2018), based on a combination WXY ElliottWave structure.
The wave Y is a reverse symmetry (expanding) triangle, with wave E aiming for 1775.
Price level 1775 will coincide with 61.8% retracement of the previous uptrend (Dec 2017 to Feb 2018).
The price structure is setting tone for the incumbent to lose the ruling power for the first time of history, smashing the beliefs of most financial analyst.
Remark: Very tricky!
Immediate term very bearish, once 1775 mark is hit, sentiment will reverse to bullish, inflicting maximum confusion to traders.
Hot NEWB takes 2 HARD fractals in the bull's rearNot even 6 months into trading and I'm already sick of chart patterns turning against everyone because they're plotted on the short term . I charted the weekly & daily equilibrium with a 200 MA & horizontal levels as I see them—it's set to the 4 hour for higher fidelity. This is the world's most simple chart with a big question mark on it in the form of two curious ellipses. Will history repeat itself? That would be mighty convenient now, wouldn't it? ;)
Eur/Jpyfor me this is a long opportunity
we left the big daily falling channel to the upside now price forms kind of a flag (continuation pattern)
i look for a long entry after price hits the bottom of the flag channel after a strong candle to the upside..if it breaks down i look for a long from the channel retest..
could also be tricky ;-)
