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Bullish Opportunity on EURJPYBullish Opportunity on EURJPY - Inverted Hammer Pattern Indicates Potential Upside Move Greetings, traders! Today, I want to share an exciting trading opportunity on the EURJPY currency pair, which appears to be trading bullish on the 1-hour chart. After conducting a thorough analysis, I have identified a compelling bullish inverted hammer candlestick pattern, suggesting the continuation of the upward trend. Let's delve into the details of this trade plan. Trade Plan: Entry Point 1 (Market Execution): 155.878 Entry Point 2 (Market Execution): 155.874 Stop Loss (SL): 155.124 Take Profit 1 (TP1): 156.604 Take Profit 2 (TP2): 157.344 Reasoning: Bullish Inverted Hammer Candlestick Pattern: The recent candlestick formation on the 1-hour chart has revealed a bullish inverted hammer pattern. This indicates a strong rejection of lower prices and potential buying interest in the market, validating the bullish sentiment. Confirmed Bullish Trend: The presence of the bullish inverted hammer pattern further reinforces the bullish outlook on EURJPY. The pattern signifies a possible continuation of the existing uptrend, providing traders with an opportunity to capitalize on potential upward movement. Trade Execution: To take advantage of this bullish setup, I have executed a market order with two entry points. The first entry is at 155.878, and the second entry is at 155.874. This approach allows for a staggered entry strategy, which may result in a better average price and risk management. Risk Management: In order to protect our capital from potential adverse market movements, I have placed a stop loss (SL) at 155.124. This level represents the maximum acceptable loss for this trade setup, and it is essential to adhere to proper risk management principles. Profit Targets: For potential profit-taking, I have set two take profit levels. The first take profit (TP1) is at 156.604, aiming for a moderate resistance level. The second take profit (TP2) is set at 157.344, targeting a stronger resistance level. Traders are advised to consider adjusting their positions or securing profits at these levels. Please be aware that trading involves risk, and it is vital to perform your own analysis and risk assessment before making any trading decisions. This post serves as educational content and should not be considered as financial advice. Happy trading, and may the markets be in your favor! Disclaimer: The information provided here is based on my analysis as a technical analyst and may not be accurate or suitable for everyone. Trading involves substantial risk, and you should only trade with capital you can afford to lose.
Long
by T-Q
$AMD the 2nd fiddle fizzle?Looking at NASDAQ:AMD , you can see that AMD struggles to hold above $125. This brings up the question, "Will it be able to catch up to NASDAQ:NVDA ?" It appears that more time is needed. AMD remains a solid company with the potential to continue capturing more market share. Although AMD's chips are not primarily used for AI, it doesn't mean the company won't try to enter this race. Meanwhile, NASDAQ:INTC hasn't made substantial progress but continues to hold on to most of their legacy market share. Therefore, I like where AMD stands as it continues to close in on Intel. Bullish Case - At present, AMD has tested the $125 level twice, suggesting that it is searching for more support. Let's see if AMD can find support and take a third shot at it soon. I see a great opportunity to monitor the levels to determine if we can make a lower high or accumulate below in a consolidation phase before breaking out to challenge the $125 level again. Bearish Case - Let's be serious, there is a reason for this double top. It's time for it to make a significant pullback. It needs to pull back to the .618 Fibonacci level. Fine, bulls, you are in an uptrend, but enough of the parabolic move—let the ticker breathe. Conclusion - Being below the CheatCode Swing 0 line favors the bear case to provide support in a commonly targeted area of Fibonacci retracement, yet looking at the CheatCode Squeeze momentum indicates a potential continuation of the bullish trend. This could leas to chop and indecision. Bullish above $125.39 Bearish below $107.35
NASDAQ:AMD
by JDTheGreat
HRHO, EGX, To target 21.4 , 25.2 in few weeksHRHO, Egypt On the daily chart, the technical indicators RSI and MACD are showing positive up direction. Once the stock crosses up 20.4, easy target will come 20.7 and 21.4 Above this resistance zone, we will have 25.2 in few weeks. Note 1: Stop loss at 19 should be considered - short term, and at 14 after 25% discount Note 2: The coming free stocks distribution will affect the prices. But, this stock will most probably discount and then rebound quickly.
EGX:HRHOLong
by snour
2