NL25 trade ideas
GBP/JPY Intraday: Worth looking atAlthough a bit risky due to the questionable longer term outlook, we do think GBP/JPY is worth looking at for an intraday long setup. Due to the elevated risk, we opt for a relatively tight stop.
Long @ market (149.55)
Target @ 153.25
SL @ 148.25
Expected time frame: 0-4 weeks
OANDA:GBPJPY
AEX Index Amsterdam: Feeling very heavyThe near-term outlook (420-minute intraday) remains bearish: the recent swings have been fierce but remain below the 50% retracement at ~540. Clearing minor triggers at 532 should ring in a renewed sell-off towards 528.40 and roughly 520. With stops above 540 this is a very favourable short-setup.
For the longer term things have become a bit tricky. Albeit premature, the weekly chart does show the contours of a large H&S reversal pattern. It is not our favourite pattern, but the location and symmetry are noteworthy and should be taken into consideration. Furthermore, virtually all underlying stocks are bearish to varying degrees with the exception of Ahold-Delhaize and Philips Lights. In other words, there is a lot of market breadth for a considerable decline.
We suggest shorting the near-term and covering only partially at 520. Maintain the rest of the shorts with (liberal) trailing stops. 480, 458.50 are realistic targets if the H&S actually pans out over the next weeks.
OANDA:NL25EUR
AEX Like all indices we're shorting like a hot ass beachparty! It looks like pandemonium is here.. and we are all witnessing history in the making.. This first burst down was only the beginning. Bulls are getting trapped. The bounce gives false hope on the longside.. We are bearish over at TTV and giving sell signals for all major indices and lots of popular stocks . Beware of unfolding mayhem and take advantage of this time of fear in the markets! TP 1 523.4 TP 2 517.4 To be continued.....
AEXIdea: price is above pivot H3, expecting a pullback to pivot L3 @ 525.3. Expecting Fibonacci resistance on the way down.
DISCLAIMER:
This is where I practice ideas and work on my trading techniques. Please note I am only providing my own trading information for insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal. Trade at your own risk.