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Nakedforex

Stocks hold or sell?My analysis of SPY weakness. I've marked short-term support & resistance, as the SPY, DOW, & other US indicies are retesting the latest crash. I would not be calling this a bear market yet, although I did enter a SHORT position on Friday. In the most recent crashes we've had, we've always managed to double bottom on the retest of a crash & then move on to make new highs. A retest of the lows is realistic, however, if we make a double bottom support, I wouldn't be shorting stocks or indicies at that point. Again, I've only been trading the SPY (Forex: US500) & Oil (Forex: USDWTI) this year. The price moves of regular forex pairs don't even compare when it comes to quick AND LARGE profit potentials. Not even Gold can compete, when we're talking about daytrading… As for my RSI, I'd be expecting further weakness & remain in my short trade if the RSI retests the upper threshold & then makes a lower low. This is a good confirmation indicator for continuation of weakness.
AMEX:SPYShort
by BillionaireTomBoi
Watch the reverse on GBPNZD! As you guys can see very clearly, Now we are on a important weekly zone, I waited for a candlestick formation to let me understand what the market wanted to do and I saw this: A beautiful reversed head & shoulders as well as a rounded bottom. I will watch the closing of the candle on the 4h time frame: if it closes above the resistance that I draw I'm gonna go long, on the momentum candle with a stop loss right under the right shoulder and the take profit on the next possible target. This trade will give me a risk reward of 1.55, that satisfy my trading plan. Now I would like to hear from you.. do you have any impressions? Please let me know what you think in the comments section!
Long
by Leoric97