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BOX

OIL Brent Crude OilOIL under observation for possible LONG positions. The indicator in my algorithm has shown good results in this last month on the Daily chart (blue rectangles in the original post on my blog). This ticker has been ranging in a box between 53.00 and 56.85 (apart from a couple of false breakouts long) which suggests - together with macro indicators - that the price is being contained in that area. The moving averages on Friday seemed to be pointing to the LONG side and a price confirmation would trigger the trade. Another interesting indicator would be the breaking of the level at 59.00 which might potentially skyrocket the price in the area of the 67.00. A box break Long would thus have a first cap at 59.00 whereas a break Short would meet a first support in the area of 49-ish and another further down to 44.5 Given the bullish sentiment for this ticker, even in case the breakout goes short at the moment I would aim at the first take profit, as it is currently not probable that the ticker depreciates down to the 44. Prices refer to this chart and may vary with other platform/brokers. I always discuss and follow up these ideas on my blog.
TVC:UKOILLong
by AlbionTrader
EURGBP breakthrough out of the box#EURGBP has been trading in a box in the last week. Macro indicators from all sides show the weakness of the GBP, so we expect a breakout LONG with some levels of TP for the short/medium term: around the 88, around the 89 and then further up to 89.5 and over to be confirmed by technical indicators. A bit of reassessment was expected to happen at the market opening, but an entry point just above the box with a SL just below it and a first TP at 1:1 Risk-Reward-Ratio should be a good strategy, leaving a second TP to run further up for a bigger return (based on former support/resistance level off the chart). Prices refer to this chart and may vary with other platform/brokers. I always discuss and follow up these ideas on my blog. EDIT : In actual fact, the market opening left a huge gap in all currency pairs involving GBP. This brought to an initial covering of the gap, that forces us to reassess the technical analysis before committing to the strategy pre-market opening. The H4 chart seems to show that the upwards trend is regaining strength and the position for this week for me is still LONG. Moved the SL just below the upper limit of the box though (already hit the TP1 point anyway).
Long
by AlbionTrader
Pre-Fed Hike Set ups GOLD/USDThere was low volume since it since like people are not that excited to move the price around the night before the fed hike D-Day. Here are my set ups for tomorrow. Got some extra $DUST and $JDST today on the dips that occurred today. I will expect lower volume tomorrow prior to the release/Yellen Speach. Stay close to the button when it hits 2PM EST. My call is Bull USD/ Bear Gold for tomorrow, like everyone else on wall street. Like always safe trading!
FX_IDC:XAUUSDShort
by lambboy3487
1
GBPJPYMy view on the GBPJY pair. I believe we'll see drop further down towards the 0.618 fib level @ 158.45 before surging upwards again. This would complete an ABCD wave reach the previous structures their highs and reaching the top of the box. I believe this will be a good point to short the GJ all the way down to the trend line/bottom of the box. The drop down is would fit perfectly with the Stoch RSI being oversold and the RSI bouncing of its upward trend line. Trade with caution.
by Michael.H
1