Taking a long entry as it rejected off the key zone from yesterday's close price
Range Resources Corp is in the exploration and production of AMEX:USO and AMEX:UNG in the US. It was recentlty feature in IBD and got me interested because its good looking cup & handle. Today managed to breakout with a gap. This gap should act as resistance. As the market still needs to prove itself, I won't buy this breakout but the breakout from today's...
We are ready for both 2 scenarios trading the breakOut , 1) will place buy stop pending order at 1.04201 with 1:1 risk to reward ratio placing SL below the support line. 2) will place Sell stop pending order at 1.03487 with 1:1 risk to reward ratio placing SL above the resistance line. Although it’s 1:1 risk to reward ratio but this trade is if started at...
We are selling the pivot breakout. The target is at the 100% fibo expansion of the pivot and the stop loss at the top of the pivot.
AUDNZD has broken through the bullish channel center line and countertrend resistance. There is also a missed daily pivot above price which may add to bullish bias. Watch for resistance around the top of symmetrical triangle, BAMM line, and top of the rising channel. Entry is placed at the retest of the trendline with targets at bat point B and bat completion. ...
I have been trading DPS since price broke and retested the $50 half figure around April 2014. This zone had added resistance due to the May 2013 pivot high ($50.37). Since then the trend has been very good - the October pullback almost stopped the position out, but managed to just remain in play. If looking to enter DPS since then there have been a few breakout...
TSO gapped up on 31st October above the long-term pivot high of $65.75 and the more recent September pivot high of $67.07. The October gap was too soon to consider a long-term buy as price had not really cleared 2013s high of $65.75. Thursday's bar offered a better opportunity with a break above the November high with a clearly bullish bar. Despite the subsequent...
LEG has been trying to breakout of a multiyear consolidation since May 2014. On the weekly chart I have drawn on the 1998 and 2004 highs (to highlight this point) and the more recent consolidation zone which lasted just over 5 months. Finally in October 2014 price made a big bullish move (on earnings and higher volume) but this was far too early to consider a buy...