HPQ is trading in a strong bear channel recently. We're currently at the top of the channel and it's viable to make a low risk high risk:reward trade targeting the measured move target of the big bear bar in October. This trade has to be entered with limit order at 14.00.
BAC has formed double top at a major resistance level of 10.00. Should try and get back to its 9.00-9.60 trading range after false breakout. This is a high probability 1:1 risk/reward trade to EMA 20 which should work out by the end of the week.
AMZN just formed a well looking bearish ii pattern (two inside bars) near EMA and it looks like the test of major support at 215 level is very likely. When triggers below 230.65 - the target will be 217.50 with a stop above bullish outside bar - at 238.95
Nasdaq's double H&S should drag it down to major support around 62.00 area. It's looking like continuation is simply inevitable and very unfortunate for the bulls. When triggers below 64.95 - the target will be 62.15 with stop at 65.95
BAC is stuck in trading range between 9.00 and 9.6 recently. Currently it's at the bottom of trading range forming a double bottom flag and is currently aiming towards top - should trigger above 9.27 for confirmation. Risk:reward for this trade is 1:1.5 as quick scalp-type trades work better with trading ranges.
It's very hard to choose a direction here. There are both bull and bear cases for AAPL here and it's all about who will be getting stronger. It looks like bears are stronger long term, but bulls still have enough force to push it up a bit before bears finally take the control. However, I believe that most likely result of this fight is stock trading in...
A major trend reversal has been just confirmed for swiss franc in its first attempt to form complete a bull bar above EMA 20. If it triggers above 0.9387 - it should pick up some bear stops and move towards major resistance near 0.9412 area. As we have a possible major reversal in action, the resistance is likely to be broken and the move up will continue. The...
Once Aussie hits 1.04 and confirms a valid A2 setup (two legged pullback at EMA 20) - I would go long in it for the test of the top of its trading range around 1.06 area, but with a wide 100 pip stop
One more leg down is likely for AUDNZD (with a possible test of the previous low) due to recent EMA gap bar after the trend break and a good looking reversal bar.
It looks like one more leg down off EMA 20 is likely for franc before it gets itself reversed. All previous attempts to break through have failed, so the chance is more than 50% that this one will fail too.
Although the triangle has broken downside, most of triangle breakouts do not run long, and it's a good position to enter long as it's likely to bounce of expanding triangle bottom. The expanding triangle top will be a minimum target when triggers. I have set up a conservative target below the major resistance - this trade is still giving us an outstanding...
That bigger expanding triangle is giving us an idea in which direction the current triangle is likely to expand. I prefer using stop orders for entering into a triangle - so if it triggers above 1.03700 - it likely to go up for the test of 1.0405-1.0410 level again. As bigger breakouts of most of the triangles fail and we're still in trading range, risk:reward for...
Apple has bounced off EMA 20 and is returning back to the bear channel
If market tries out something twice - it usually succeeds...
Kiwi has recently broken trendline, bounced back to MA and has formed a double top for major trend reversal. The probability is still around 40% as it's in tight trading range, however, risk:reward ratio of 1:2 makes this trade reasonable
GOOG recently had two legged pullback to MA in a bull trend, measured move target has been achieved and now it's should be reversing up to recent test of high at 774 area and either bull trend resumption or forming double top/higher high for the major trend reversal. This is a lower than 50% probability trade, this is why risk:reward is 1:2 on this one. If...
A good point to go LONG in SPY as it continues it's move in its bull channel and should try and test the top of the channel now. I bet that it will reach 149.95 before touching stop loss at 142.35 when triggers above 145.75 today or tomorrow.
USDJPY has just broken out of triangle and also trend is getting steeper - this usually results in a strong bull breakout When triggers above 78.9 - long with take profit target of 79.9 and stops at 78.05. This is a high probability trade, hence, reward/ratio is almost 1:1