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Redhotcandlestick

Gold - A trade for the braveDear community, today we are introducing a rather risky trade with a chance/risk ratio of AT LEAST 2:1 - Gold long. The facts are perfectly obvious why we are suggesting to 'call' Gold: Looking at the chart we can clearly define the support level, which seems to hold and send the price back direction North. The next indicator, playing into this theory is the good old RSI; strongly oversold, indicating a potential turnaround. Last but not least the stock markets, which proof to be quite weak due to several factors such political situations like the presidential elections in the US, the OIL market etc. - An old saying states 'If in doubt leave it out, or buy Gold'. As mentioned above the trades comes with a chance/risk ration of at least 2:1, something we can not say no to especially during our currently running **€100 to €1000 FOREX Trading Challenge**. Good luck
FX:XAUUSDLong
by RedHotCandlestick
Platinum - Head over ShouldersDear Community, today we have a quite interesting setup concerning Platinum. It is actually more a possible- than an expected setup but still worth mentioning. As you can see in the chart we are expecting the formation of a SHOULDER - HEAD - SHOULDER formation, highlighted in red semi-circles. If this scenario kicks in, we could easily dip deep into the intermediate target zone at around $960. However, there is a very good chance that, if all clicks into place, it will fall through the intermediate zone, following our optimal scenario and therefore primary target ay $811. If you follow us on our premium analysis you will know that we have opened a short position a few days back, aiming for the intermediate and hopefully the primary target. It looks good so far but we need to keep an eye on it for sure. Good luck.
NYMEX:PL1!Short
by RedHotCandlestick
EUR/AUD - Huge Opportunity Take TwoDear Community, the EURAUD was and definitely stays on our watchlist - strictly speaking it also made it into our LIVE portfolio the other week but got stopped out due to our aggressive set up. Those of you who selected the conservative option are still in teh race and well clear of trouble at this stage. See the former trading idea here: The setup itself hasn't changed much but we are following the conservative setup this time. Stop loss at 1.4300 should keep us clear of potential volatile bounces and at the same time maintain this beauty of a risk/chance 1:9 ! Enough said ... this is a chance to be taken. Therefore please note, regarding potential conflict of interests and all the other legal terms: We have opened a LIVE long position based on our analysis above. We just had to! Good luck everyone.
Long
by RedHotCandlestick
AUD/CAD - Fails At Weekly ResistanceDear Community, we have had AUDCAD on our radar for quite some time and were hoping to get a positive test of teh weekly resistance followed by a reversal candle. As it stands on both, the weekly as well as the daily chart, the pair will dip into a correction, which brings up multiple possible scenarios: 1) Dip into the intermediate target zone, followed by the alternative bounce back scenario. It is a likely option and should definitely be watched. However, it will really only depend on the momentum we will have on the clock, as soon as we reach the zone. A straight cut through it would open doors for our optimal scenario. 2) A full correction to the 'root' of the current up-swing with a risk/chance ratio of 1:4 (with an aggressive stop loss). Again, it will depend on what really happens down there. A straight drop under the Primary target zone would open up even lower targets. A very attractive setup that is, in our opinion, worth a punt. Therefore please not the following: Due to a possible conflict of interest, we need to instruct you that we have opened a live short position, based on the analysis above. Good luck everybody!
Short
by RedHotCandlestick
NZD/CAD - Another CAD pairs on the moveDear community, we keep it short and crisp this time - not meaning it is worth less! Scenario is more or less the same as we have already mentioned in our AUD/CAD analysis (which you can find here ). Making a long story short, the pair bounced back from the resistance zone, which can be found at around 0.9580 and is dropping ever since. A realistic target to aim for is the intermediate target zone found on our chart. This scenario gives is an ok chance/risk ratio of 1:1 by using a conservative SL at 0.9600. However, if the pair manages to bust through the intermediate target zone it is basically lose and could even drop down to our primary target at 0.8600 - oh what a trade that could potentially be! Keep in mind that there is somewhat of an uptrend still intact, which could mean that the intermediate target zone could be used as a good enough level to be accepted as a correction bottom. This would activate our alternative scenario. Only time will tell. We, however, opened a small short position aiming for our primary target. It is only small as we have already an open trade on AUD/CAD. Good luck!
Short
by RedHotCandlestick
UK Brent Oil - Bottomed and Ready To RockDear Community, Brent Crude Oil has been the favorite of the short-sellers for quite some time now. Strictly speaking, since the last high at around $52.90 it was a dream and way too easy to bank some nice profits on the short side. However, times seem to have changed and as we all now, Oil doesn't grow on trees. With that in mind, the demand will grow steadily despite the efforts of the alternative energy industry. As it stands at the moment it is just not affordable for the normal human being to drive around in a fancy Tesla or fly with a prototype solar plane to their holiday destinations. The reality is that oil is being used, more than ever before! Hence, the price will HAVE TO go up sooner or later. The bottom line is, every trader that is happy to have a long-term position in their portfolio, Oil might be just for you - especially if the intermediate target gets sliced - oh then we are talking business! A potential target of $67.60 and even hight would be on the cards in that case, which would give you a savage chance/risk ratio of 14:1!!
FX:UKOILLong
by RedHotCandlestick
Crude Oil (Brent) - King Kong's Fist take twoDear Community, it has been a few days since our last trade on oil, which by the way banked some really nice profit. As mentioned back then, we wer expecting a small correction before the price continues to drop. It might be a very aggressive approach at this stage but really the only realistic chance to get one more trade out of it before the oil price reaches it theoretical correction level at around $39.00/barrel. Brave traders can aim for the 61% Retracement at $36.87. Come on King Kong, give it some! Good luck
FX:UKOILShort
by RedHotCandlestick
USD/CAD - Hell For Leather Through The ResistanceDear Community, today a hot candidate who was on our list for a long time; USD/CAD. It looks like the resistance has been broken - eventually and we are (hopefully) going hell for leather direction our fist intermediate target at 1.3576. Here it will be decided if the run continues towards intermediate target #2 (1.3833) and finally the ultimate target at 1.4691. Given the current circumstances ... It would be considered to be a highly speculative long entry, given the fact that the resistance didn't give in for quite some time. A possible scenario could be that traders, who are looking on the long side of things, get fooled into the market by jumping in too early. Two ways of getting the job done Option number one is to take the risk and hope for the best. If the pair reaches the ultimate target one would definitely walk away with some nice profit. Option number two would be to wait and see. Best scenario would be that the price comes back, confirms the former resistance as a support and continues the climb towards the first intermediate target. And this is exactly what we are going to do; no need to take any unnecessary risk, given the fact that we already jumped the gun on our silver trade. Therefore, we are holding back for now. Trader who'd like to give it punt can use our analysis as a start and build on it. We will pick this idea up, once we think it will fit in our portfolio.
Long
by RedHotCandlestick
Crude Oil is getting smashed under King Kong's FistDear TradingView-Community, the headline gives it away what we expect for the upcoming weeks but if you wonder what King Kong's Fist means and and how one can smash Crude oil with it, then continue reading. With that in mind we want to welcome you to our very first analysis on TradingView. As a new member to the community we feel obliged to introduce ourselves with a smashing (hint) trade. Crude Oil meets King Kong Well, obviously we won't tell you a story about Apes now and we apologise for any disappointment but King Kong is the name of a chart pattern we use to draw attention to it. We got yours, so we won't keep you on tenterhooks ... As you can see we are working with the Ichimoku Kinko Hyo Indicator, which proofed incredible profitabel to us in the past. Used correctly it is a strong tool. As there a various patterns and ways of using the indicator we came up with our own, individual names for certain models (hence King Kong) to make it more clear with what strength of signal we are dealing with. In this case we are having one of the stronger SELL signals, pointing direction $39.00 as a target. King Kong's Fist is basically a pattern where the price dips through the cloud and finds its way back up into the cloud, leading to a compression of candles within a few days. If you have a look at the chart you can see the strong bull candle, just a day after the price dipped through the cloud - basically a bull trap. in the following days the price went more or less sideways, compressing to a "fist". Think of yourself: When do you clench a fist? Correct, when you are angry. Letting that fist go releases some energy and that is exactly what we are expecting to see within the next few weeks. As an aggressive stop you could choose $48.55 or above - if you prefer a more conservative approach $51.00 will do for you. One last note before we come to an end regarding conflict of interest: We have opened a short position based on the above analysis ourselves, following the more conservative model. We hope to welcome you to more analyses in the future. Likes and comments are always welcome!
FX:UKOILShort
by RedHotCandlestick
Silver Take Three - And Action!Dear Community, today we are presenting you a pretty nice buy setup for Silver, which, in all fairness looks quite promising. However, this is the third take on Silver so we emphasize that there is a chance that we won't get it right this time either - but, third time lucky as they say! Strong Reversal In A Bulish Market The direction has been bullish all the way, so we were looking for a convenient moment to buy. As we mentioned in the beginning, this is the third take so the first two didn't hit at all. It was just too early! However, with a working money management/risk management in place a few losing trades shouldn't make a huge dent. So, this time we are looking at a very strong bullish reversal in a bullish market. We therefore assume, quite obviously, that Scotty might beam us up pretty soon to new highs at around $22.00. Two Setups There are two possible setups that fit in quite well. A conservative and an aggressive approach. We are following the more aggressive one as the chance/risk ratio just does it for us. More laid back traders should look into the conservative alternative as we think there is definitely something to take from this trade. Note: We have opened a Silver long position with a SL at $19.00 and a target at $22.00 Good luck everyone!
FX:XAGUSDLong
by RedHotCandlestick
EUR/AUD Looking At Direction ChangeDear Community, today we are presenting you a more aggressive Ichimoku Kinko Hyo Approach - combined with simple price action and support levels. A Picture is Wort A Thousand Words In this case the picture is the chart and by looking at it it becomes fairly clear what the idea behind this long trade is. The support level at ~1.4480/80 stands strong and sends the pair for the third time direction north after testing it. Now, from an Ichimoku perspective this trade is truly premature. No signals at all but looking back we'll see that teh indicator was lagging quite a bit when it came to huge reversal moves. The reasons are two different: 1) The Ichimoku is a trend indicator ONLY. It shows us momentum, direction and potential changes in trends. 2) The Ichimoku isn't the best indicator to be use in volatile markets. EUR/AUD unfortunately is one of such, so not the best choice. However, it is still useful to us as we can determine changes in momentum and therefore portential changes in directions. In this case our approach is very simple and it won't get much more simple than that: a) We have a support line b) The price tests the support line and didn't break it c) The bearish momentum gets weaker Based on these three facts we have opened a long position with a conservative stop at 1.4330. The first target we are looking at is 1.5596 - the primary target 1.6600. Don't expect any of these targets to be reached within days! This trade might be a matter of weeks but the chance/risk ratio is just smashing!
Long
by RedHotCandlestick