Trig Breakout IdeaForming HH,HL on 30 min & 1 hr timeframe
All indicators supports upward movement.
Comment your ideas.
HL
HL Long PositionBullish ascending triangle since 15 march, might go above current resistance @ $6, bullish engulfing on 7 June
LH LL NOTICE HOW MARKET CLOSED UNDER PREVIOUS HH,HL . HH,HL REPRESENTED BY THE RED AND GREEN FOR LH,LL . MAKET STILL UNDER 50EMA. LOOKING FOR MARKET TO TEST 4H SUPPORT AND BREAK TOWARD DAILY SUPP . LOOKING TO TP@1.618FIB
HL Mining Head and ShouldersAfter a parabolic run-up it appears HL has done a pretty standard H&S pattern. If you look at the hourly, after the initial neckline break there was a clean backtest. Currently we are looking at the first real back test on the daily timeframe.
The target is roughly $2.75. Monitor for break of recent retracement and enter with a stop above the neckline.
AUD/USD Short @ .77Throughout 2016, Aud/Usd always trends HH & HL just before hitting the .77 mark then we see a crash to the downside. Early 2017 its repeating the pattern, creating HH & HL, we could see a big move to the downside in the next few months to come
HL - Long from current label to $7.13 area HL bouncing back from MA200 & seems made some base here. It is showing upward moment now & we think it can easily go above $7 from here.
Trade Criteria
Entry Target Criteria- current price, $5.83
Exit Target Criteria- $7.13
Stop Loss Criteria- N/A
You can check detailed analysis on HL in the trading room/ Executive summary link here-
www.screencast.com . ( Access only for the subscribers)
Time Span- 1:13:30"
Trade Status: Pending
(Note: Trade update is delayed here. To get updated & get new Trade Ideas - Please subscribe to our Newsletter at: acornwealthcorp.com/gold)
OPENING: HL COVERED CALLThis is a little gold miner than came up on my high implied volatility screeners (the others were AUY and KGC).
Metrics:
Bought Shares at 5.82
Sold Oct 21st 6 call
Whole Package: 5.35 db
Max Profit: $61
ROC: 12.1%
HL - Long at the break of Downward channel HL running within a downward channel, if it can break it up we think it will easily go to 7 area.
You can check our detailed analysis on HL in the trading room/ Executive summary link here-
www.youtube.com
Time Span: 4:10"
Trade Status: Pending
LOOKING FOR PA ON THAT LEVEL MY VIEW:
STRONG SUPPLY LEVEL
HH, HL TREND CONTINUATION FORMTION
0.618 FIB % RETRACEMENT
DAILY CHANNEL
STRONG MACD DIVERGENCE
RSI ON OVERBOUGHT SIDE
Silver Likely to See a Pullback Near-TermSilver has seen an unexpected rally to most and continues to show strength as holdings of silver-backed ETFs reach all-time highs. Since posting "Potential Inflection in SLV: Price Action and Options," (under CommoditiesTrader) SLV is up almost 22 percent.
However, near-term there will be a correction to work off the overbought conditions.
The RSI was quite elevated at 77, while the z-score hit a near-term high of 2.9
The +/-DMI is showing that price action still remains positive but the ADX is beginning to tick lower.
The stochastic indicator is currently over bought at 87.51/93.26
Of course, precious metals will move with headlines. Given the sharp two-day decline, the SLV looks promising between $15.90 and $15.60. If traders sell through the secondary uptrend near $15.60, we could see further selling to $15.
It's important to remember the risk is dynamic. Traders will flock to the safe-haven aspect of silver if more troubling news surface about European banks, Brexit and, simply, slowing growth.
A correction will only be healthy going forward. The weekly chart shows at $17 is a tough nut to crack - only seeing one close above this level since January '15.
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PRICE ACTION / TREND FOLLOWING VOLUME #1PRICE ACTION TRADING.
FIRST STEP
Draw the channel. And check how the price moving.
HL- Higher low
HH-Higher high
LL-Lower low
LH-Lower high
STEP TWO
Draw the support and resistance lines.
PRACTICE,PRACTICE,PRACTICE AND PRACTICE
Hecla Mining Co.Demand Zone highlighted in yellow on the weekly chart. Buy on pullback to demand zone.
Entry: 2.86
Stop Loss: 2.46
Target 1: 4.00
AUY reaching ABCD extension, expect pullback.AUY has, along with all other miners, performed spectacularly in 2016. Long term, this stock, along with others in its sector, are a HOLD. Short-term, expect some profit taking here at resistance ~4.76
EUR/USD - LONG -Very decent long setup
Several confluence, including
Horizontal support 1.09724
Trend line pull back x2
Fibonacci 0.618 High probability level influencing price greatly
Previous HH Made Looking for a HL
Bears weakening shown by the long wick previously
Take Profit:is based upon ABC(D) completion
Stop Loss: Below structure support
