Get started

Longtrade

EURAUD and the risk on and off playHere is another Forex Trading Snack. To go along with my stock risk on or off trading view, here is my favorite Forex pair that matches closely to my stock trading view. Of corse the two instruments trade inversely to each other. My main strategy for this weeks market open is to follow the recent up channel the pair has been trading in. The downside has been limited mostly due to the upside limited moves to AUDUSD ( which also moves along with the S&P 500 and or news events or risks involving China trade. Stocks and the AUDUSD have stoped recent moves higher at the 61.8 Fib levels and have been grinding around making overlapping moves with lower highs and lower lows. Hardly a trending move. Very much a grinding around moving market. Looking at the 2H chart I see a smaller EW 5 wave pattern Developing with a posable completion at up channel trend line. My strategy isn’t to try to trade short at channel trend top, but to start looking at my longer view possibilities of the next move and posable breakout from this channel. There is no surprise that the AUDUSD also has a inverse EW pattern on the same time frame. On AUDUSD I’m a sell the rallies trader currently just as I am on the S&P 500. The exact opposite on EURAUD. Just one traders opinion. Please form your own opinions and trading views and or strategies. This post isn’t advice on trading. Trade accordingly to your own risk tolerances. In trading you either make dust or you will certainly eat dust. All the best in your trading.
Long
by PipsTradingClub
BTC and the bulls – Road to U$ 9.2k?So BTC gave us an obvious trade recently, and now is doing what was expected to do, as I said in my last analysis. I warned about how strained the chart was in 60 minutes timeframe, and we should expect some correction. Now the price is “resting” a little, letting the 21 ema get closer and closer. After the harami pattern (could be a harami-cross too, if you like), BTC triggered a nice long operation, with a very comfortable risk/gain relationship. I wouldn’t buy now, if I was out, but it’s not time to go short either. It’s a bullish trend, and BTC lacks any bearish pattern here. It’s time to manage your position, or even take your profit, if you like faster trades. We have 3 supports here: The U$ 7306 (previous top, blue line); The 21 ema; and the upward trendline (purple). Maybe the U$ 8426 could serve as a resistance (black line), because it did support the prices in the past (green rectangles), but I’m still not sure. The U$ 9.2k seems to be a more realistic target for BTC right now. Hope it helps, thank you!
BITSTAMP:BTCUSDLong
by Nathan_The_Finance_Hydra