USA
TAN - Getting Ready for next Big Breakout TAN Solar ETF has been on upside momentum for a while. You could clearly see it had a channel breakout first, and then breakout the strong resistance line and now consolidating side ways for last 1 week or more, testing the next resistance levels. Weekly charts also shows that the buying demand is high and bulls are in control. Getting ready for next breakout. Targets 107.25, 113.20, 125.05, ATH. Can't give exact timelines, as markets are floating with light volumes getting into Holiday Season.
wheat will have to enter it's cyclewheat has a 6month cycle, between northern and southern emisphere crop, looks like it will begin a supercycle, like all commodities.
by a thecnical point of view, it's forming a H&S. wheat is a quite "dangerous" commodity to trade so i don't think it's a good idea entering before the pattern ends it's forming and starts going down from that neckline, multiple false breakouts are to expect once the price is bellow the neckline. i don't think it's a coincidence that the natural target of the pattern coincides with a round number (600), witch has been a strong resistance and support in the past.
USDJPY | SHORTEntry Range: 114.076 - 114.181
Avg . 114.152 (RRR: 2)
1st. Profit Target: 113.877
2nd. Profit Target: 113.463
Stop Loss: 114.291
HOW TO ENTER MY TRADES
1. Ladder your entries.
You'll want to ladder place your orders exponentially within the Entry Range to the point your RRR is atleast 1.5 if fully filled.
2. Only first touches are valid.
If price is rebounding back into the entry zone after either the profit target or stop loss was hit the entry zone is no longer valid
DXYHey Traders, hope you had a great Weekend.
it's time now to start a fresh week, i would love to recommend you to take in consideration the USD INDEX analysis in the beginning of every week at least if not everyday. That will help you to trade USD pairs more professional and will help you to spot the direction of USD pairs too.
in this week we will be focusing on the selling opportunity of USDX around the weekly supply zone at 95.3, once we will receive any bearish confirmation the trade will be executed.
Happy Monday, Joe!
XAUUSD analysisHey Traders, in the coming period we are monitoring XAUUSD for a buying opportunity around 1834 zone, we might see a pullback from 1865 zone towards more 1834 zone before the big rally into more highs probably! back then we might execute the trade if we receive any confirmation,
in Monday our focus will be on the selling opportunity at 1865 zone respecting the descending trend in combination with the strong supply and demand zone. we will not risk a lot in that trades just few pips will be enough.
don't forget that you should always respect proper risk management, especially with gold and commodities since their movements are more strong comparing to other pairs. always risk between 1-3% of your account so in the worst scenario you'll not get knocked out from the market with a losing trade.
a lot of traders get knocked out from the market because they risk 30-50% of their account in each trade and in that sense 1-3 losing trades will kick them out from the market, but a reasonable trader that risk 1% of his account and aim high he will get knocked out from the market after 100 losing trades in a row and the probability for that is close to none, that's why money management is the key success to trading more than the other tools.
thank you for reading my text with attention, always happy to help!
Joe.
GBPUSD shortHey traders, in the coming week we are monitoring GBPUSD for a selling opportunity around 1.342, i like the bearish moves on GBPUSD.
We've been short from 1.377 on this swing trade and now we're looking forwards adding more position at this supply and demand area.
Trade Safe and use proper risk management.
Joe.
US Dollar indexHey Traders, above we notice the breakout of DXY the supply zone of 94.370, that's a good sign that this zone will become a resistance and we will see more bullish momentum in the dollar. in other side we are holding our EURUSD swing short from 1,17 towards 1.138 zones. and we will monitor extra USD pairs to catch more opportunities.
Trade Safe, Joe!