Testing out the new trading panel tool, trading what I feel is a developing large down channel.
Price is channelling into a tight zone. This should develop into a tradable move. will update if entry is taken.
Im already short from open but entry could be found on the lower time frames. Doji reversal candle right under the retest of the broken trend line offers good risk to reward trade.
Powerful uptrend coming of this cup and handle base. price has accelerated with a breakout from the wedge. Im expecting profit taking and exhaustion @ 2.07 where ill step in front for a short. Ill wait for the market to come to me or may rethink if there is a break on the current trend line.
double top with 6.18 fib retracement, Im looking at going short on re break of the neck line.
After Iran's nuclear deal on Monday resulting in expected more supply this is certainly looking like a classic dead cat bounce. Its' hard to see the story change and oil rally. What's your guys thoughts/ targets ?
shown on the chart is a 23% 84 day break out with a flag pattern pull back. The pull back is trading at the 84day period and pulled back 14%. This tells me that the break out is valid and the pull back is weak leading to an assumption of there being less buyers rather than more sellers. A hammer head candle is a reversal type indication shown the buyers may be...
potential long set up again. The channel has been very kind with price reversing and swinging side to side offering some great profitable trades. So after closing my short as per pervious trade im look at the long trade. Price has made a lower low but is flat at the 42 level on the RSI indicator. valleys/troughs in the RSI at this 42 level have lead to rally's so...
looking to trade long for a short pop. entry now and second entry on break of channel. then may look to get short. tight stop on first position with divergence on RSI
On the chart I have roughly back tested DOW theory as an entry exit isolated rule trading system from 2012 to present. Results and trades shown on chart. Seems to be a profitable strategy which you could filter for better results combining your own trading rules.
observing the current down channel noticed that a re occurring roll over pattern seems to be setting up again. The trade idea is based with a target on the continued rate of this decline. Old support now seems to be resistance. Also the projection means there is a good chance of target before the weekend which is ideal as I don't plan on holding position over the weekend.
last candles open and close engulfed the previous candle. From this I project a range from the high to the close in a 1-1 ratio.
Im looking for the flag pattern to build a bit higher then break for a short entry. target's shown on chart.
As drawn on chart The pink boxed periods are around 14 weeks. The price in this time over laps many times which would create a more challenging period of trading. At the end of the 13 weeks we get a signal from that last period weeks trading up or down bar. This has been followed by 4 weeks of price action which is a trend or swing giving better trading...
price has been sideways but has drifted out the top of the wedge. I will be long with a break to new highs. shown are also two possible reason to get long now with a higher low swing confirmed. Head and shoulders normally used only in a reversal pattern but shown here as continuation. If we get some tight short trading session's in the channel shown I will buy a...
SUNE has pushed above the 7year phase 1 base. This is likely new trend confirmation. I Will wait for a flag type entry to develop and post entry if taken. plenty of up side in this trend with a profit target around 60%. 15% stop will be used with intention of long term hold trailing the stop.
No bias at this point but could develop into a great trade.