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EURUSD Weekly long legged Doji on massive supportEURUSD closed the weekly candle with a long legged Doji outside the bollinger band. Not to mention the massive support zone we have around 1.0510. This could activate a rocket correction from the last 14 days of downtrend. Another interesting thing is the movement from November 2015. After weeks of downtrend the price turned in the last November week at 1.0510 and made a correction of 50% in rocket speed. Is the same thing going to happen again? If not next week is it going to happen in the first December week (Italy Referendum)? In my opinion the parity of the EURUSD is still far away. I don't think that we will break the major support at 1.0510 which would pretty much let the EUR/USD put in free fall mode. I think we will see the 1.0950/1.1000 at least before we go further down. This trade may fit in someones trading plan. For me are the facts above to attractive. Can't just ignore them :) Entry Level: 1.0600 +/-10pips Stop Level: 1.0490 Target Level: 1.0950
Long
by Trinad
S&P 500: GOOD BEARISH CYPHER PATTERN ON 60 MINS - AT MARKET !!!Hello Traders, We got the completion for this cypher pattern a while ago and the market went past our entry point. I have entered at short at market price (as shown on the chart above), giving us a better risk to reward on this trade. Do keep in mind the Elections going on in US, which can create some volatile moves in either direction. Just stick with your plan and don't let your emotions get the best of you. Capital preservation should be the main goal going into this election. That’s all I would like to cover for this trade setup. If you guys have any questions or comments about this trade, feel free to write in the comment section located under this description section. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. All The Best :) Follow me on Twitter as well: moneymaking2016
FX:SPX500Short
by moneymaking
EURGBP : Joining the upside trend with a great R/RSince the beginning of this year, the FX pair EURGBP has made a fast reverse, leaving its downside trend for a very bullish construction. On that situation, as long as the tops and bottoms remain higher than the previous ones, we should look for potentially interesting entry points. Here, we probably got one due to the following reasons : - beginning of a bounce at 0.88750, matching with the 38.2% retracement of the previous impulsion. - neutral RSI, which means that the pair is no longer overbought - the bounce is near an ascending trendline support that gives a great indication about the pace of the bullish wave. - the 200 days moving average is well oriented and tends to accelerate : the underlying mid term trend is in the direction of the trading idea On that situation, initiating a long position on EURGBP is appropriate, with : - target @ 0.92155 - stop @ 0.88200 Reward/Risk ratio = 2.2
Long
by AlexandreNygal
BCO HS formation completing - Await confirmation!There is a head shoulder formation about to complete on the 4h chart. Very powerful and momentum is confirming the strong move we expect. After a long downturn, oil is fundamentally expected to rally again into the new year. Expecting price at USD 65 by Christmas. Nice long term trade. Big, slow movement, so no need to risk your entire account on this. Great risk reward at 7.58 if entry at USD54.2 and target at USD76.2 for a full HS completion (42% from entry).
OANDA:BCOUSDLong
by TheStudent