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Short long term positionHi everyone, As you can see RSI is indicating an overbought pair eur/usd. If we close with this high today, next week will be shorting week. Keep your eyes on it and get ready to enter trade on monday :) Take profit 1 is at 1.2 Take profit 2 is at 1.1930 Take profit 3 is at 1.1860-70 Take profit 4 is at 1.1730 Long term EUR/USD should fall to 1.14-5 area If we go up further than 1.2550 I suggest close any short positions and aim for longs. Thank you
Short
by Skikus
1
GBPUSD: Two ways to trade this pair from hereGBPUSD Two Ways to Trade this pair right now Testing imprtant resistance from the upper parallel of the flag formation. Can be shorted with stops above the upper parallel for small loss if wrong and can also be shorted from lower down by using a break of he little speed line running under recent the lows as a trigger - looking to short on a retest of this line from the underside, once broken. This is a speccy sell, only here because the loss is small (10 pips) if wrong. And if so, and the upper parallel is broken through and held by the bulls on the retest it will be the signal to reverse, looking for quite a strong rally (not many look to be long here by shape of chart, mostly disbelievers in GBP, still left over from Brexit...the slow-witted, really slow- witted) which should take Sterling to 1.3599 minimum and 1.3633 maximum in near term. The alternative is to await the outcome of this battle, and side with the winner: one of the two dynamics will break - up or down - follow that break when it comes, on the retest, with stops above/below the dynamic once broken.
by sumastardon
1
Will EURUSD Break Lower or Continue Higher?Daily chart of EURUSD shows us a five-wave bullish impulse in the making. Current three-wave decline can be corrective wave 4, with temporary support coming in at Fibonacci ratio of 38.2 and the upper channel base line. If price breaks below this region, then our alternate, bearish count would be in play and we would expect more weakness. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
by ew-forecast
1
EURAUD - 1D - Euro Looks Bullish Across Most PairsIf you like this idea leave a like and follow me to get all of my updates :) I would love to talk to you so send me a message or comment! Underlying: EURAUD Time frame: 1D Looking at EURAUD alongside other Euro pairs we are getting a general theme of bullishness. There are two formations going on here, the first being a trending channel (shaded in orange) which is being respected so far. You will then notice there is a narrowing range where the highs are statying at the same level, but the lows keep getting higher. This seems to be putting a lot of pressure to the upside and is the reason I am still expecting a break out to the upside.
Long
by SocialTrading
Pairs Trade - AZO a sell and AAP a buy Look at the history of these two stocks going back to 2011. They are identical in performance and yet AAP reports its earnings FIRST and the stock tanked 30 points or 15% last month. Autozone reports on Dec 8th and could face a similar fate as AAP since they are in the same business. Lately, new car sales have taken off to the upside and at some point investors could back off on the sky-high valuations of these stocks that have been delivering steady and consistent profits gains over the years. It's never easy to call the end of a trend, but I'm thinking this is a low risk trade to be long AAP and short AZO into earnings next week. You can manage risk best using options to set up this trade. Target 10% down on AZO relative to AAP. Your profit could come from one side or the other, but you would think that the catalyst would be the earnings report on 12/8/2015. Stay tuned. Tim AZO 776.28 last AAP 159.94 last
NYSE:AZOShort
by timwest
1
Follow-Up of Winning Long DuPont/Short SPY Pairs Trade As soon as DD turn up relative to SPY on the day highlighted it was the time to put on the trade. Even if you waited until it went over the 10-day average of the ratio, you would have gotten in with very good risk/reward. You would have had 1% drawdown on the first day's open, then as much as a 19% gain from there to today's high, or a 16% return to the last sale. Had you just bought in on the day of publication, your maximum drawdown was 0.42% and your maximum upside was 19.79% for a worst/best ratio of over 40:1. Now that is a big trade. You can see how easy it is to graph the ratio - just type in one symbol, then the "/" backslash and the next symbol, with no spaces. Ratios often tend to trend a bit better than outright positions, but there are no guarantees. Wishing you many more returns. Tim 2:59PM EST 10/6/2015
NYSE:DD
by timwest
4