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USOIL: Up or Down?As you can see we have two very plausible views namely a Head and Shoulders pattern and a Bullish Flag. Personally I would opt for the bearish outcome but we shouldn't rule out the bulls just yet.
Once you've chosen your point of view, the targets are provided in the chart above.
Good luck and follow me for more!
P.S, that EMA is magical ;)
RISK 1:13 REWARD!!! NZDCHF LONGRISK 1:13 REWARD!!!
What is my entry criteria for a NZDCHF LONG?
Reason:
Met my rules to confirm a Bullish Trend. This is my final chance entry to get long on this pair, with a high Reward to Risk this may not play out but overall it is a profitable strategy that I will continue to implement.
Confluence:
RSI We are not quite oversold on the daily as we are at 21 so its still low
Major level of now structure and support, looking left we can see multiple tests
Bullish Divergence on the 240 chart
Entry:
Double Bottom completion on the 60 chart
Stops:
Tight ATR below the low previous test, as we could just blow right through this stop and continue lower and breach my bullish trend rules (Hence the final chance entry)
Targets:
Target 1:
High of the previous close
Target 2:
Depending how we get to target 1 if we get to target 1, I will either trail based on structure if there is enough volume and momentum or cut the trade. Long way to go before this happens – if this happens
As always good luck in the markets,
TradeEasy.
Advanced Micro Devices Inc IdeaAdvanced Micro Devices Inc is currently in an ascending channel, enhanced by Fibonacci.
We now see a strong support around the 0.236 level, which seems to be working with a powerful, 200 EMA support as well.
The current trend is bearish, shown by a Head and Shoulders pattern, but will become bullish if it bounces off the strong support zone.
Feel free to follow me for more of my ideas,
Good luck!
LTCUSD Elliot Wave TheoryGreetings traders!
Some have viewed this as an Inverse Head and Shoulders series, however I have taken a more appropriate view.
The Elliot Wave theory with an a-b-c correction indicates a strong, bullish movement to the upper resistance level.
The price has also once again retested the 200 EMA, fuelling the bulls.
The price seems to be in a three-drive pattern leaning towards the upwards momentum as well.
For more, feel free to follow me and checkout my other ideas as well.
Wish you all a great trading week,
Good luck!