Contrary to majority of furus, I think if S&P e-mini futures can hold 3950, it will test 4090 & 4130
If 3950 fails to hold, 3935 & 3905 last level bulls must defend else 3757 could be tested
If 3950 fails, upside momentum lost but not the bias
Volatility may go up yet until close < 3750, upside bias remains
Based on current structure of Gold price, it is clear that this week or two will decide it's direction for coming months. To me, the direction will be clear only when I see daily price closing in or above/below the rectangles marked on the chart.
If it goes down, more likely it will try to rebound around 1800. If it breaks out will see resistance around...
Looks like a good setup to go long. It may take couple of weeks to hit the target, but good wait for 1:2 risk to reward ratio.
Disclaimer: This is neither recommendation nor advise to invest/trade. This is my journal for educational purpose only
This is another trade today that shows how trend line breakouts can help identify entry, stop loss and targets.. After first target is hit, rest continued to hold based on higher time frame charts.
Not a high probability. But with tight stop loss and risk to reward ratio of 2, it might be good time to short Crude Oil futures. Target is 39. More than likely it will go to 38.40 some time next couple of days.
Fibonacci tells me it would go at least 38% retracement range of 2685..
I think a short trade placed at 2710 with stop loss at 2715 and profit target of 2685 would yield more than 1:4 risk to reward trade..
Disclaimer: this is no recommendation for any trade. I am using it to track my paper trade prediction performance
As you can see on weekly chart of gold futures GC1! It has bounced off 50% Fib level. Is it going up to 1338-1340 price point before it pauses again?
Note, I used some nice tools on the chart that tradingview provides. I have added fictitious trade to show nice risk to reward if entered at current levels.
This is not a recommendation or advice to trade. It is...
Will EURUSD will make 100 pip move upwards next couple of days? Hard part of currency is to estimate how far against it won't go. Safe estimate is it shouldn't touch 1.09750 price point before it touch 1.12000 target price. Now the risk to reward may not be good enter now. So I would wait for good long entry setup..
This is neither a recommendation nor advice to...
USDCAD still has some more room to go down before it starts march upwards for the month. Could it happen today? Or may be Monday?
This is neither a recommendation nor advice for any trade. It is my own trade journal to improve chart reading skills and validate price predictions. Typically my target price is supposed to hit before hitting nearest swing low/high...
Looks like FCX price linger point may be around $11.20 - $11.50. This is neither a recommendation nor advice for any trade. It is my own trade journal to improve chart reading skills and validate price predictions. Typically my target price is supposed to hit before hitting nearest swing low/high (depending on if price prediction is long or short)
