Have been greatly debating if i should post this setup this week. We are at a very unique and critical entry level due to last weeks high and this monthly supply we are testing. I understand we can even go flying from here onward but reward v risk will due the job. Please message me with any questions tips or suggestions! -CO
DAILY CHART EXPLANATION: 🔸 Price is on a downtrend since the beggining of the year. . 🔸 For the last days, it has been making a retracement. . 🔸 Right now it is facing the last broken support zone (now Resistance Zone). . 🔸 We are waiting for a lower timeframe price action pattern to confirm the direction. WEEKLY CHART:
GBP/AUD has been on an intense rally since august of 2019, is ittime to reverse? Prolly with this double top at a wicks zone might confirm a reverse. Anyway will be wainting for the next two daily candles to close to confirm my setup. For a safe trade you can wait for the break of the trendline and probably a retest. #tradesafe
All in the set-up... I got in and out of this trade with no fuss. P.s. I got out of NZDCAD at -.50%
Recently market weakness made me want to look for and take on some short ideas in order to hedge some of my long trades. I have been stalking CZZ short and long and today CZZ looks like momentum is carrying it to the short side. CZZ has been in an overextended run for the past year and looks ready for some retracement. The 20 and 50 DMA is falling and price is...
4H CHART EXPLANATION: 🔸 Price is on a downtrend after being rejected at the Resistance Zone. . 🔸 For the last weeks, it has been on a consolidative move, which we were waiting to be broken. . 🔸 The breakout was to the downside, so, we consider it has potential to reach the Support Zone. . 🔸 We are waiting for a lower timeframe corrective move to consider short...
As market weakness continues, I been watching for new shorts to take right at market open. The gap down in the futures will probably create a lot of emotional sellers and stop out a lot of longs. XPEL has been having trouble keeping above all time highs and had a solid line of support to play a breakout trade to the downside. Both the 20DMA and the 50DMA had...
Since failing below the 20DMA last month, NIO has been consolidating nicely in a tight pennant pattern. NIO is looking like it's about to breakout. There is a key breakout area at 4.15 where the Anchored VWAP from the December 30th breakout and the 20DMA lines up. Entered this trade early today as it looks like momentum could carry NIO above this area. Went...
Here's a H4 chart for USDCAD that captures where we are and what I'm planning for this trade. However, the best plan for a trade like this is the ability to adjust on the fly. We'll be testing my ability to do just that as I aim for 1 of 2 options. Breakeven or profit greatly (double digit % return).
This setup met my criteria so I can't be Upset. I did make one mistake during execution. The SL I set in my trading platform was not above the High but I changed it during mid trade. I've learned in hindsight that my 1hr analysis needs to be at the most recent 1hr zones. Thanks for reading and following my journey
This trade did not meet my setup criteria. It was forced and rushed. It was a very emotional trade. I believe it was partly overconfidence from doing well early this week and also Fear of Missing Out. If I had taken my time and followed my process I would've avoided this costly trade. -1.29R. Lesson is that I must become aware , psychologically, when I feel an...
Trying going long PETS again since stopping out last week. PETS has been within a beautiful consolidation pattern right above the Cup & Handle breakout pattern on the daily chart. PETS is holding the 20DMA and is coiling tightly at highs. I entered within the consolidation as PETS sprung from the support this morning and back near the breakout zone. Entry -...
PINS recently gapped from earning but failed and pulled into the previous gap up area. PINS had recently bottomed last year but broke out and is now in a strong uptrend holding the 20DMA. Following this gap up and pullback, PINS is now at the 20DMA and bounced off it on the 30m timeframe. This is considered a Holy Grail Trade where a trending stock holding the...
Forgot to make a trade journal yesterday for PLAN long. On Feb 4th, PLAN broke out to new highs but failed and revered in the subsequent days. During the reversal, PLAN hammered at the breakout point and the 20MA indicating strength. Since then PLAN is consolidating above the breakout area and possibly ready to head to new highs. Entry - 61.07 Stop Loss -...
A long term trading Idea that worked out perfectly! if you want to learn trading please send me message on telegram! :Devinwf
I am looking for a continuation of FX:NZDUSD to be bearish. The prime entry point for this trade has already passed. Going to smaller time frames will give you a good indication of where to jump on this trade if wanted We are in an area of previous support/ pullback, so be careful of where you enter this trade as it could bounce back up. This trade was...
Ever since the Muddywater news drop and recovery, LK had been consolidating right under 39 before recently breaking out. LK had been holding above the rising 50MA indicating strength. On 2/13 and 2/14, LK made two inside day candlesticks in a row and formed a coiled spring on the 30m timeframe. This is an indication of future volatility and a possible breakout....