Copper at an interesting positionThe chart preparatory. I do no predictions. If the situation with CUUUSD unfolds I will assess it carefully to decide at that point whether I go long or short.
At the moment CUUUSD is weakening on the daily charts having reached a key inflexion point on the weekly time frame. This is not surprising.
Some traders want to know in advance whether price is going to go up or down. Trading is not that simple. I've learned from my own long experience that such thoughts/wishes are the enemy.
In the last year I've done more stalking of charts than trades. Yes - many of those that I've stalked, I would have missed. Not a problem. I now avoid FOMO. If I've missed, I've missed - next chart/instrument - as there are thousands.
When CUUUSD gets into my kill zone, I'll be even more attentive.
Preparation
Possible Channel Breakout GBPJPY Let the market give us a signalApplying that IF Then Syntax to your trading is key!
If we break out of the Channel, Then there is a good opportunity for the market to hit the initial target at around 156.70's.
Always trade YOUR PLAN!
Good luck!
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EURUSD a little outlook for what to trade next weekIf you´ve been following me the euro have been very good to us this past weeks with 3 winning trades and 1 loss. For monday i´ve got a Bullish Cypher pattern if price heads south to but it up at strong Support.
If price heads north we are gonna sell it at the blue Bat pattern at a lesser, but still good reistance area, but compared to the Cypher this pattern got a lot higher R:R so its well worth it.
We always try to be one step ahead of the market, and put in orders when we don´t have any emotions aboute it. We use the IF THEN method to see, if this happens, we do that, and if it does this in stead, we do this in stead. We are planning for several senarios while we don´t have our emotions haning on the outside of our cloth and then we just stick with our analysis cause we know its tested and profitable so we just have to control out emotions, and focus on money management!
A subject i see more and more here on TradingView not beeing giving much of a thought, but its almost more important than your trading method if you want to see the returns you are dreaming about. How come some people that have the same size account, makes the same amount of pips make a totaly different return on account. It´s MONEY MANAGEMENT the art of when to increase or decreace your position size! So please spend some of your weekend reading on Fixed Ratio money management vs. Smoothed Ratio money management, you will be amazed!
I´ve got a starting point for you read the book by "Ryan Jones - The Trading Game Playing By The Numbers To Make Millions" It will change your trading career!
Kind Regards
Thomas Jeff
SPX levels and plan Recently, i posted chart where I mentioned that i am not going to be too bearish untill break down og this intermidiate trend line. You need to be prepared for different scenarios with stocks that are on your long/short watch list. When this scenario came into play, plenty of short opportunities emerged (check some of them in the link below). I still don't think that this 2 days selloff is the end of the world. If bears want to keep control, they should defend $1,937 (important), then we have resistance zone a t$1,949-56.
I will be watching for tactical pullback, as it feels a bit oversold here, trading with stock that show us relative strength. Then short opportunities ("h"-pattern) on pullbacks from resistance zone and moving averages.
Sprint bounce off from major supportSprint is expected to report a smaller loss than in the first quarter as a massive network overhaul comes close to an end. Investors will look for any update on the company's planned $32 billion bid for T-Mobile, expected to be announced in the next few months. The bid has met with skepticism from regulators, who worry it could reduce competition in the near-saturated wireless market.
It has earnings today before market open. Map out levels to take decisions and react. I will be a buyer close to big support level at $7.50 which acted like resistance earlier. Yesterday, we had day #1 with pivot high at $8.08, above that expect to see more buying with potential first target at $8.60ish, next resistance at $9.50-.75 area.
Launch preparation ? Close to break 6months log downtrendWe already broke the 6 months resistance on linear chart, and we are really close to see if log. one is to be broken or not.
So here is my all-time chart, where log. scale is to be used.
I tried to look how the pre-bubble periods materialized on previous bubbles.
You'll find in green the differents bubbles - timings ATH to next ATH.
In red I display the main resistances in those bubbles : look how SMMA/EMA crossing thoses
main downtrend lines used to announce the rocket launch.
If we broke the log resistance I expect a new ATH before next September.
On fundamentals : China's situation is settled, India now being able to get into bitcoin, US new full compliant exchanges on the way (supposed to open during this summer), also more and more ATM in big cities.
It's pretty hard to know where this possible new ATH will stop but using previous patterns
plus the alltime up/down trendlines (displayed in yellow) I would say 2500-6000 is a valid range.