GBPCAD - Long off the 0.618 Fib GBPCAD - Long off the 0.618 Fib
GBP is still strong again the CAD and in an upward trend even with the big GBP sell off after comments form Boris on UK trade deals
Still waiting for an Entry signal however
Continuation
EUR/AUD - LONG - 2. FEB. 2020High chance of correction followed by the continuation of an impulse to the weekly trendline
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GBP/CAD - LONG - 2. FEB. 2020High chance of correction followed by the continuation of an impulse to the previous resistance.
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Retrace to $9150 before continuationThe beautiful bullish hammer yesterday evening gave way to a 4% move overnight with BTC closing the day nicely above the 200 Day MA (1200 here on the four hour in orange).
It met resistance at $9400 which is unsurprising since this has been a very significant level for months.
I would not expect us to simply smash through from here since a little more of a pullback is needed for any bull worth their salt to enter a trade.
An area of high confluence is the 0.5% line of this most recent move, which also clusters up nicely with previous support, the EMA zone, and the .236 line of the bigger move of the last several days. Expect to see a strong reaction at around $9150. This chart shows how a long setup could look.
However it is pretty conceivable that BTC needs to correct a lot further before breaking through this significant resistance. We have many CME gaps still unfilled. This could lead to some kind of cup and handle forming. However outlook seems bullish ahead of the halving in May.
LONG - XLM- Trading OpportunityA retest of previous bullish divergence breakout, looking into watching this develop.
Entry: 0.0000657
Target 1: 0.00000702
Target 2: 0.00000763
Target 3: 0.00000820
SL: 0.00000611
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AAON Breakout to All-Time HighIn this chart we're looking at AAON on the 1D chart as price has consolidated into a rectangle. Price has broken out through the horizontal boundary at $52.50 and has confirmed the breakout by breaking through the $53.29 area.
This rectangle has a price target of around $61.67 for about a ~17.5% gain.
This chart pattern breakout is occurring above the 200EMA, so the probability for price continuing to the upside is even higher.
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SWN Breakdown to New Local LowsIn this chart we're looking at SWN on the 1D chart as price has consolidated into a rectangle. Price has broken down through the horizontal boundary around $1.78 and has confirmed the breakdown after printing a 1D candle through the $1.73 area.
This rectangle has a price target of around $1.11 for about a ~37% gain.
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PKI Breakout to All-Time HighIn this chart we're looking at PKI on the 1W chart as price has consolidated into an ascending triangle . Price has broken through the horizontal boundary around $98. After price prints a 1W candle through $101.28 breakout will be confirmed.
This ascending triangle has a price target of around $125 for about a ~27% gain.
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USD/CHF: Great Continuation Level for Buy PositionHigh probability that the price tends to reach the supply above.
Below us, there is a great demand for continuation trade,
I'll buy at this demand and the final target will be the supply above.
AUD/JPY: Great Continuation LevelAs we can see in the H1 chart, the price changed the momentum to bearish.
It seems the price now tends to reach the demand below.
At the moment, the price gets really close to touching the supply above which is a great level for sell position.
I'll sell at this supply at the first touch of the price and the demand below will be the final target.
NVO Breakout to All-Time HighIn this chart we're looking at NVO on the 1W chart as price has consolidated into an ascending triangle . Price has broken through the horizontal boundary around $58. After price prints a 1W candle (1 day left) through $59.77 breakout will be confirmed.
This ascending triangle has a price target of around $85 for about a ~46% gain.
Price has good momentum as it has found support on the 200EMA and is breaking out of its chart pattern boundary well above the 200EMA.
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EURAUDWe caught EA shorts up to, now we are eyeing pull back continuation opportunities to the downside!
$BDX Breakout to All Time HighIn this chart we're looking at Becton Dickinson & Co on the 1W chart as price has consolidated into an ascending triangle . Price has recently broken through the horizontal resistance around $263 with a strong weekly candle. Breakout was confirmed after price broke through $271. I just came across this company's stock this weekend, so I missed the initial breakout. Even though the initial breakout was missed, we had a small pullback and then another strong weekly candle to show this instrument has strength. There is still plenty of upside to be taken advantage of.
This ascending triangle has a price target of around $319 and we have already seen a small pullback before what seems to be continuation to the upside.
Nonetheless, if we see another larger pullback, I expect price to find support on the horizontal chart pattern boundary around $263.
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$CRM Breakout to All-Time HighToday we're looking at Salesforce.com on the 1W chart as price has consolidated into an ascending triangle. Over the past week price has broken through the horizontal resistance around $166 with a very strong weekly candle.
This ascending triangle has a price target of around $214.25 but we may see a small pullback before continuation.
If we see a pullback I expect price to find support on the horizontal chart pattern boundary around $166.
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EURNZD - SHORT PLANLooking to EURNZD, there is a good setup in this pair.
Based on EW, I would like to see the price getting higher to my "Area of Value" and I will go to lower timeframe to get into short opportunity.
We can call this intraday trade, in order to confirm my short bias of course I would love to see if the price makes a Lower Low in Daily TF before doing any pullback. In this case also, its finishing all impulsive waves.
Let's see how it goes.
AU shortNow that we have a clean impulse out of a very corrective ascending structure, I am looking for an entry on this continuation.
Need price to stay within the previous high and current low as it forms this counter trend move.
This small break out of structure can now potentially evolve into a simple fake out and price could now fall all the way back into the pattern.
AU shortNow that we have a clean impulse out of a very corrective ascending structure, I am looking for an entry on this continuation.
Need price to stay within the previous high and current low as it forms this counter trend move.
This small break out of structure can now potentially evolve into a simple fake out and price could now fall all the way back into the pattern.
EU shortPrice has given us a very nice impulse out of a corrective ascending channel. This was forecast in a previous post.
All we need now is clean continuation within the previous high and current low and i will be entering this position with 2 trades one to manage aggressively and one to
hopefully hold for the larger move to the downside.
EU shortPrice has given us a very nice impulse out of a corrective ascending channel. This was forecast in a previous post.
All we need now is clean continuation within the previous high and current low and i will be entering this position with 2 trades one to manage aggressively and one to
hopefully hold for the larger move to the downside.
$MDU Consolidation Before BreakoutTo wrap up the year I'm going to leave you all with one more idea I have my eyes on. In this situation, we're looking at $MDU.
MDU Resources Group is a stock that we have seen consolidate into two different patterns over the course of the last nine years. Both respective patterns have yielded excellent results as both have reached their respective targets. Now it is almost time for our third pattern to breakout.
This time we are seeing price consolidate into a three and a half year long rectangle.
I'm looking for a clear break (1W candle close) above the price of $30 (dotted purple line.) After we get a clear breakout above that level, I'm looking to enter a long position targeting the price of $36.20 for a gain of ~22%.
To further support the idea of a bullish breakout, we can see the 200 EMA resting below the breakout level, which adds to my conviction that we will see a breakout to the upside.
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Continuation with Big NewsThe Swiss Franc is expected to put more pressure on the USD with its monetary policy experiment finally being over. Disclaimer: I am not your financial advisor. Caution: GDP ahead
$INTC Bullish Consolidation Before Possible BreakoutAs this week of trading is nearing an end, I wanted to share another potential trading setup I've had my eyes on. In this setup we're looking at Intel Corp.
Back in late 2014/early 2015 this instrument began consolidating into an ascending triangle (bullish continuation pattern) and sure enough, price broke through the top side of the triangle and continued heading up to the point we're at now. Following the breakout of the previously mentioned ascending triangle, we can see price is now consolidating into a rectangle.
The 200 EMA has been resting comfortably below both setups as added support - giving me more conviction that we're about to see another break upwards.
I'm looking for a clear break and close above the $59.50 (dotted purple line) area.
Price is attempting to break that boundary with this week's 1W candle close.
If we get a clear close above this chart pattern boundary, I'm targeting price to reach previous all-time highs around $72.50
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