Michael_Harding

06:13

Michael_Harding May 25, 2020

What's going on traders! This video pretty much explains my outlook regarding this pair for the next little while. Overall my bias is definitely favoring the short side for now. I'm actually expecting this pair to continue to trend lower and lower on the larger time-frames throughout the rest of 2020. Feel free to drop a comment or leave a question in the...

02:57

Michael_Harding May 25, 2020

3 of my top stock picks include: American Airlines - #AAL - AAL United Airlines - #UAL - UAL Delta Airlines - #DAL - DAL I believe these 3 stocks are well supported and could potentially yield a decent return by year end. Always remember to Trade Safe - Trade Well Cheers!

03:56

Michael_Harding May 24, 2020

As mentioned in the video, I think $320 for Apple shares is a bit over priced at this point. I'd like to wait for better price around $300. I'm definitely expecting some sort of retracement off the critical level of resistance in which we're already starting to show signs of the bullish momentum fading with RSI. Trade Safe - Trade Well Cheers!

03:40

Michael_Harding May 24, 2020

There's an old saying that goes by "Sell in May, and go away until Labor Day" As #JNJ continues to make lower lows, by bias is shifting towards the bearish outlook. I know sometimes it's tough deciding when to close positions and lock-in profit because you fear you might miss out on the right opportunity to re-enter the trade. If that's the concern, what I...

07:20

Michael_Harding May 24, 2020

Short selling idea available in the video. Trade Safe - Trade Well Cheers!

08:07

Michael_Harding May 24, 2020

Every Sunday I like to preview the major risk events for the upcoming week to ensure I'm not caught off guard by any unprepared surprises. Typically whenever we have relatively quiet weeks like this upcoming week, we can expect more of a sideways market. This would present fairly low risk entries along support and resistance levels and opportunities to scale...

10:01

Michael_Harding May 24, 2020

Hello Traders, this video is intended to give you Intraday Traders some trading ideas on the 1hour time-frame heading into next week. Feel free to let me know if you have any questions. Trade Safe - Trade Well Cheers!

01:30

Michael_Harding May 20, 2020

Bearish outlook below 1750

01:43

Michael_Harding May 20, 2020

Hello Traders, CPI Data this morning from Canada came in negative showing the first signal of deflation since 2009. As we approach the level of support around 1.3880, this is starting to produce enough confirmations to switch my bearish bias to be more bullish . Video explains more details. Trade Safe - Trade Well Cheers!

Michael_Harding May 19, 2020

The above chart illustrates EURUSD on the 1 hour timeframe. Currently the pair is struggling to develop another bullish impulse wave to the upside as France and Germany proposed a $545 Billion E.U. Corona Virus relief fund to be given out as grants to those negatively impacted from the virus. As noted on the chart if we break below that yellow line around...

Michael_Harding May 18, 2020

Well I wasn't expecting this pair to sell off as quickly as it did and so I decided to lock in all short positions. Closed all positions early at Target 2 When reviewing all major dollar pairs across the board, they are now displaying the dollar in oversold territories. Gold also like it's at a tipping point to correct to the downside. With that said, I'm now...

Michael_Harding May 18, 2020

The above chart shows price action for Gold on the 4 hour timeframe. As we all know, XAUUSD and DXY tend to have an inverted correlation relationship. If we study today's move against the greenback across the board, we can see that the dollar was quite oversold. With that said, if we see some strength added back to the dollar heading into this week's USA...

Michael_Harding May 17, 2020

Plan is simple Place a pending buy limit around the 1.20 handle - 1.2010 is ideal. Stop around 1.1970 ( 40 pips ) TP: 1.2280 ( 250+ pips ) Trade Safe - Trade Well Cheers!

Michael_Harding Updated  May 17, 2020

The Dollar Index failed for a forth time on Friday to hold above the 78.6% retracement level from the recent down swing and closed out with a typical Doji looking candle. This suggests we might start to see some selling action but please note that last Monday ( May 11th - Green-line should be pointing there ) the markets starting fleeing for safety and buying the...

Michael_Harding May 17, 2020

The above chart illustrates price action with S&P500 on the daily timeframe and so I wanted to point out that we are testing the 50% mid range pivot from the previous most obvious support and resistance levels. I know some of you might have the perspective that we held above Resistance on Friday and so that's why I wanted to point out this current pivot we're up...

Michael_Harding May 17, 2020

When it comes to trading, I like being prepared for all likely scenarios. Here I illustrated the most likely setups. Scenario A: We get some further upside then bounce off the 10k resistance Scenario B: We get upside, minor bounce off the 10K, then a break to the upside which then opens 11,000 long/buy side target Scenario C: After bouncing off the...

Michael_Harding May 16, 2020

Technically overall this pair continues to trend within a range from 1.0780 - 1.0880 as illustrated in the chart above. Currently on the 1hr timeframe we are maintaining somewhat of an ascending channel. The 1.08 level has held quite nicely as support recently providing clues that the overall market turns more bullish when we reach the lows of 1.0780 - 1.0800....

Michael_Harding May 16, 2020

Heading into next week we have several major Oil fundamental reports that could impact the Loonie including the Carryover into the June Future Contracts + Oil Inventories on Wednesday expected to show another negative figure. If we see a rebound in the oil market, that could add some strength to the CAD and thus push USDCAD down towards the targets as outlined in...