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More dropping then buying, I want 300 pips profit (at least)Have you traded GBPAUD much? It's a pair that will do whatever it wants whenever it wants, and I love that... it makes me feel alive, kind of like "today might be the last day I ever trade!" Anyway, the money to make on this pair is outrageous, IF you are patient. Here's what I want to see: 1. more more big move lower into the mid 1.60's (1.65 ideally) then i'm going to draw a short term trend line probably on the 15 minute chart and I'm going to buy every break up until I can get back up to the lower 1.70's (weekly pivot etc). At the time of this posting the pair is bounding around 1.6900's, 100-200 pip move up first will invalidate my trade. 2. I will start small on this trade, scale in with a bigger position a few times and target the low 1.70's 3. I will then run to the bank laughing all the way! Check out more of this at www.daytradersfx.com
by JaredJJohnson
9
Standard life PLC – Rally has legs, eyes 200-DMAStandard Life PLC is among the top 5 FTSE100 risers; trading 4.4% higher on the day at 332.50. Volumes have held around 20-day moving average, while there are no signs of topping out on the daily MACD. The only sign of worry if any is the possible divergence on the Money Flow indicator. Overall, the stock appears on track to test 345 (38.2% of 2015 high – 2016 low + 200-DMA). Further gains appear unlikely as major averages are still trending lower, so a rise to 345 could be followed by sideways action.
S
by TipTVFinance
Easy Jet - Should we trust the rally?Easy Jet shares have finally witnessed a relief rally of sorts. Prices clocked a low of 973 on July 26 before jumping to a high of 1080 today. The question now is should we trust the corrective rally in the shares. Fundamentals do not support the rally in prices… travel stocks are anyways under pressure, furthermore strengthening of oil prices further is an addition to the bearish news. On the technical front, the news is not good either- The volumes have stayed below 20-day average through the current technical recovery. The money flow index also suggests the corrective rally is more due to profit taking/unwinding of shorts. Hence, the current rally may not be sustained. Moreover, gains have come after last Thursday’s BOE stimulus, which have triggered broad based gains. After the effect of stimulus wanes off the stock may resume the downtrend. On the higher side, we keep an eye on 1177 levels, while fresh sell-off is seen once the recent low of 973 is breached.
LSE:EZJ
by TipTVFinance
GBPUSD SKA CAPITAL Looking short on this pair, firstly looking at an upside move to potential levels 1.31650-1.31850 (Trend line bounce).From this level we would await key bearish PA to develop; we would then seek entry to downside targets of 1.3070 then our ideal target 1.29750. The ideal target would be valid on the basis of a bearish breakout below 1.30750. Our management target being 1.3070. We harve a possible bullish harmonic pattern in play which provides us with the confluence of an upside move from current support. As you could see we have further confluence with Senkou Span A (Green Cloud) acting as Resistance. We then have a Kumo Down Twist forming and price being below the clouds and the 200 EMA demontrates bearish momentum and a possible continuation to the downside. We have lower highs which is demonstrated in the defending channel. Furthermore, we can possibly see a bearish ABCD formation to our downside targets. TRADE SETUP We would wait for price to reach the trend line and target of the Harmonic pattern before looking for the short (sell) trade setup, you can set up a sell limit order however we prefer to wait to setup a sell stop order to endure we enter on the basis of bearish PA. (Shorter term traders can look to buy to levels 1.31550). As you could see our stops are placed at 1.32300, stops could also be placed at 1.3300. However, we would prefer to have our stops just above the Senkou Span A & B and above the trend line as a break above would demonstrate further bullish momentum. Therefore a possible strong setup would be as follows: SELL STOP/LIMIT ORDER: 1.31550 TAKE PROFIT (Management): 1.30850 TAKE PROFIT (Ideal): 1.29750 STOP LOSS (ideal): 1.3200 STOP LOSS (Possible) 1.3300 ***TRADE AT OWN RISK***
Short
by SERGENAYTUG94
1
GBPJPY SKA CAPITAL OUTLOOKAs you could see outlined on the chart we believe this pair is looking bearish to possible targets of 136.500 then possibly 134.00. There are several ways this trade setup could be undertaken. You can either wait for a breakout and retest of the lower trend line with bearish candlestick confirmation. However, we would be entering this trade around 140.30. Stops could be placed just above the upper descending trend line or above the previous highest high (Above 143.500). If price breaks above the pattern then this trade setup is no longer valid.
Short
by SERGENAYTUG94
Sell GBPUSD 1.3100 targeting new lows below 1.28Sterling remains weak and has just broken the neckline of a bearish head & shoulders formation on the 4 hour chart. Caution is advised (see my linked post) with regards to the risk of a short squeeze perpetuated by UK labour and retail sales data this week. It would be prudent to operate a stop on-close rather than at-level given the likely volatility around data releases. Aiming for approximately 1.28 (-300 away) with a stop no higher than 1.32 (+100 away) A negative weekly/daily bias remains below 1.3317, with this short term formation on a 4 hour interval also negative.
Short
by JamesHelliwell
1