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SPX : Be careful, wrong timing to enter shortThe S&P 500 has just broken its support area at 2119 points ; before that, we would have expected a bounce because that area prevented two bearish attemps. On a break out of a support like that, we usually search an opportunity to enter short. But here is the problem : - The previous peak (2154.80 points) seems too far to put a stop above it. The first obstacle is located at the 61,8% Fibonnaci retracement of the previous bullish wave that took place after the Brexit referendum. The Reward/Risk ratio is under 1 on the current chart (daily candles). Better not to trade that configuration. As long as the SPX does not draw an other top, it does not sound to be a good idea to enter short . For those who are already short, the invalidation is the peak at 2154.80 points ; if it is passed the downside trend would be weakened a lot. Your stop order could be placed above that price. Stay tuned to take into advantage of the proximity of a support (major support is of course preferred) or the formation of a peak. You should have both dynamic and timing to initiate your position.
TVC:SPX
by AlexandreNygal
FB : Better to wait a pullback at 122.50$ to buyFacebook ( NASDAQ:FB ) is evoluting in a long term bullish trend, but currently it is consolidating between 126.70 and 131$. On that situation, a short position is definitely to ban. But is today the right moment to initiate a long position ? The support à 126.70$ corresponds to 0.5 retracement of the last upper move (end Aug - beg Sept), it is not enough. It could quite probably be broken in the few next days, as the RSI is currently breaking its neutrality zone. If you wait for a breakdown of the 126.70$ support, you could benefit from the 122.50$ big support to take long position : - previous support during august - 38.2% retracement of the last upper wave which started from the Major support. - Reinforced by the ascending trendline support So you should probably wait for 124$ (before or after a bounce at the 122.50 support) to enter bull on NASDAQ:FB .
NASDAQ:META
by AlexandreNygal
EURUSD needs to confirm its' direction before making a decision Ok so EURUSD already broke down that trendline, it almost re-tested it thrice, we can't say that's a double top because it passed through the trendline again and came back in, but I also see what could be a mini head and shoulders forming there. Since it already reached a .618 Fibs retracement... I would expect a BEARISH scenario, but I need it to confirm its' intentions before making a decision. Any opinions on this?
by patogarcia912
2
Monero finds basinIt appears the next attempt at a peak has passed not only the aggressive trend line but also the tamer trend line set earlier. This means the emotions of euphoria are gone and now the market will return to reality to discover the real sustained levels for Monero. The talk of Monero hitting a billion dollar market cap will cease for at least a month and the volume will stay in the top 5 until the basin is reached. I believe Monero will surpass these levels as privacy is extremely valuable to the crypto community and has intrinsic value. It is likely Monero will have a high basin rather than a medium or low basin. (It will hold above 100 million market cap).
Short
by cptmcclain
1
Looking for position to go short? lets have a look.Wait for pullback. I think the oil is going lower, And why not getting some money for your wife's christmas gift? :) We wait for the price testing the trend. If it wants to go through EMA and trendline, set your entry-price (for short) at the place the price went trough the EMA. And wait wait for the price going back. We see a example at the first lightblue square . The price went back very fast! Ask if any questions! Regards Frederik
FX:USOIL
by Tradingglen
AAPL Wedge Within a Wedge Wait for Move Either WayApple is in a falling wedge (trust me, the lines aren't random and work on multiple time frames), but for the last two days there's been a rising wedge. While there may be a decent rise in the future if/when AAPL breaks up out of the falling wedge, it may reject the wedge and bounce down to 105 in the next two days. It will be important to wait and see if AAPL is going to breakout tomorrow/Thursday, or if it will break down to approximately 105 one more time before attempting to breakout again
NASDAQ:AAPL
by zkstonks