luke1827

luke1827

Fellow Traders, As mentioned in my previous post, linked below, a break above 1.33425 would signal continued strength. Entry: 1.33425 SL: 1.32585 TP: 1.3745 ***Update*** TP changed to 1.3433 as it is the completion of a 1.618 fib extension and also the 20 SMA price level on the daily charts I suggest risking no more than 1% per trade by adjusting your...

luke1827

Fellow Traders, I see the USDSGD pair bouncing off a .50 retracement level and I am looking for a retest of previous highs. Also, bullish divergence spotted. Entry: 1.32477 SL: 1.31403 TP: 1.3749 CLOSE @ 1.33225 I suggest risking no more than 1% per trade by adjusting your position size accordingly. Luke Check out my performance record of all published...

luke1827

Fellow Traders, This is not a trade idea - yet - but rather an informative piece of info on the Gold/Silver ratio that precious metal traders should take note of. I believe the channel slope posted here is validated and I see several points of contact that shows me the slope is still in play. As we know, precious metals have been falling since Apr 2011, which...

luke1827

Fellow Traders, I see support levels holding for a conditional LONG SILVER break out opportunity. If prices break through the green line drawn, an inverse head and shoulders pattern will form and will trigger the trade market entry. If prices fall below the stop loss level BEFORE breaking out of the green trendline, please CANCEL the trade. Stop Loss set at...

luke1827

Fellow Traders, Price has bounced off a key level at 16.8, you will see this level acting as prior resistance which has now become support. This indicates strength and we will look for a move upwards. A short-term uptrending channel is also in place and shown by the blue trendlines. Similarly, price has respected the slopes of this channel and support has been...

luke1827

Fellow Traders, Head and Shoulders spotted on the AUDUSD and price has broken through the neckline for a move down. Also, there is a downtrending fork in play on a larger timeframe (see attached in comments). Let's see if selling pressure increases. Trade Details Entry: .78538 SL: .79420 TP1: .77368 (I plan to take 1/2 position profit here) TP2: .763 (I plan...

luke1827

Fellow Traders, Price has bounced off horizontal weekly support. Looking at the H4 chart, I see a retracement upwards, considering the relative strength of the GBPUSD and relative weakness in the NZDUSD Trade Details Entry:1.944 SL: 1.9347 TP1: 1.9703 TP2: 2 Luke Check out my performance record of all published trades on TradingView: tinyurl.com Update...

luke1827

Fellow Traders, Bullish Gartley spotted on the USDCAD on the H1 chart. Also looking for the DX to reverse higher which if so, would correlate to the USDCAD moving higher. Trade Details Entry: 1.2514 SL: 1.243 TP: 1.26 I suggest risking no more than 1% per trade by adjusting your position size accordingly. Luke Check out my performance record of all...

luke1827

Fellow Traders, Selling at a key institutional order block. Stop loss is just above the R2 level. We have bearish butterfly completion at .7325 for resistance as well Looking for price to retrace back to lows. Trade Details Entry: 0.7297 SL: 0.733 TP: 0.702 I suggest risking no more than 1% per trade by adjusting your position size accordingly. Luke ...

luke1827

Fellow Traders, I am LONG the USD/CNH for the following reasons: Fundamentals In the current currency war, China's focus is on maintaining the competitiveness of its export goods vs. other exporting merchantile nations around the region, e.g., Japan, Korea et. al. In a deflationary environment, with currency depreciation happening across the region, either...

luke1827

To be updated Entry: Break of 20 SMA or .74 SL: .74305 TP1: .73483 TP2: .719 Take 70% off at TP1 if hit

luke1827

Fellow Traders, Few signs that the US Dollar Index is at resistance. 1. RSI on 4H Chart is at 85.5 which is a resistance level that has previously been rejected off. Twice. 2. Price has extended to a 1.414 Fib Ext level, which is a common level for profit taking and thus potential resistance. Tread carefully with this in mind as you trade pairs associated with...

luke1827

Fellow Traders, I'm looking to LONG the VXX, which is a ETF that tracks the short-term VIX futures. This is a volatility swing trade and might take weeks or months to play out. Here;s what I see: Fundamentals 1. For the basket of stocks that make up the S&P500, we are seeing less and less of them making higher highs on a 52-week average 2. Tim West does an...

luke1827

Fellow Traders, I see signs of Gold breaking out of the downsloping red channel. My first take profit target will be just before the Daily P-Pivot at 1252. I have set my stop loss below the weekly low at 1187.2. We have the 38.2 Fib Level acting as a key support at 1198.22, and S1 Pivot also acting as key support at 1197.01. Riskier traders looking to commit a...

luke1827

Fellow traders, Please see my previous post for context: Looking to take advantage of channels and slopes and fib levels as shown in my chart. Entry: 1.3566 SL: 1.3493 TP: 1.37769 All the best, Luke

luke1827

Update: Stopped at Entry. See comments ------- Fellow Risk Takers and Speculators, NFP #s came out stronger than expected and cause a downward move in Silver and Gold. Price action caught support at the 61.8% fib retracement level of the previous swing from $15.49 to $18.45. What is key here is that this downward price move was mainly driven through the futures...

luke1827

The Silver market has been attempting to test the 16.615 level - 61.8 fib retracement level - but has met with strong support along the uptrending blue channel. From the Daily chart, we have P-Pivot at 17.05 acting as support as well. I see an opportunity for a 2.5 : 1 reward to risk trade with potential to let profits ride out to the channel ceiling in...

luke1827

In a deflationary environment, yields will continue to fall and bond prices will rise. In many countries, we are seeing structural deflationary pressures that can't seemed to be fixed by adding money supply. This trade setup looks to buy a pull-back to the P-Pivot level, which also coincides with the up-trending blue slope As of 13 Jan 2015, price has broken...