USDCAD / possible sell off idea (right shoulder)Looking at catching a sell off on USDCAD, long term bullish but to continue this way we need to see a breather (correction). Can be very risky going against the overall trend but if we can manage to catch the move we can see huge potential for profit, again I will be aggress with stop loss and adjusting once in profit.
Selloff
USJPY SELL OFF!! TRADE IDEAPrice has made a few rejections from this resistance area of 145.000 already so I'm looking for a reaction to this area once again. If we see this push down first targets would be 141.970, if looking at taking this trade please remember the overall long term direction is still to the upside so it has every possibility to as long continue higher.. make sure you are been smart with entry area and stop loss as well as waiting for the right confirmation.
BTC - Bitcoin about to sell off!!As I've explained I am targeting a long term 12k for bitcoin where ill be planting a few long term buy trades. Short term we can see price creating a triangle consolidation range where price is gearing up for its next move, and I believe that will be to the downside. A push out of this highlighted zone should indicate the next short term direction.
GBPJPY SHORTS WAITING FOR CONFIRMATION!Watching price intently around the current zone, a third rejection from this zone will confirm a nice short opportunity. BUT its IMPORTANT that you wait for confirmation before taking entry! trading takes a lot of patients and that's what creates a consistent trader, don't rush any trades its Monday and you have endless opportunity week in week out.
GBPJPY SHORT TRADE IDEA!!!We should see some resistance out of this level at 166.000 for either a big retracement or even a move all the way down to 160. I will probably wait until the start of next week before even looking at taking entry, remember even if we do see a move down to finish the week there will usually always be a second opportunity to get into the trade.
EURGBP LONG TERM SHORT!!Looking for a right shoulder to form giving a nice opportunity for a long term short position. Look for 4 hr rejection from the sell zone to confirm entry, we may not see the move this week but ill definitely be on the look out as this resistance level to hold strong and create if not a long term position another easy opportunity for a quick move down.
$MSFT - potential support in phase 4 $MSFT has been in selloff and it's been frequently discussed these days. If we break current level, there is not much demand down to $220 and $208, which would be about 36-40% down from ATH, respectively.
I can see MSFT getting there if overall market is wacky. Chaikin Oscillator with Bollinger bands also generated sell signal on August 8th and since then it's been in an ugly downtrend. This also looks like a phase 4 - downtrend.
I'll wait patiently and might start adding to my position around 220. Good old MSFT.
NQ Power Range Report with FIB Ext - 8/31/2022 SessionCME_MINI:NQU2022
- PR High: 12372.00
- PR Low: 12347.50
- NZ Spread: 55.0
Evening Stats (As of 12:45 AM)
- Weekend Gap: -0.59% (filled)
- Last Weekend Gap: -0.18% (open > 13125)
- 8/19 Session Gap: -0.04% (open > 13540)
- Session Open ATR: 300.19
- Volume: 27K
- Open Int: 258K
- Trend Grade: Bear
- From ATH: -25.6% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 13794
- Mid: 13531
- Short: 12391
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
QQQ Selloff or Rally? Learn how to Read Charts, Remove Bias.I discuss five indications that traders need caution on QQQ (and market generally) instead of expecting an immediate directional move.
This video demonstrates how to use chart analysis to form context for placing trades. By understanding the daily chart, traders can then look for good trade entries on smaller timeframes. I also created this video to counter all the directional predictions on Twitter. When developing a trade idea, consider how long it may take for the price move to happen.
While channel lines and RSI may seem basic, these are some essential indicators that tell a story of what is happening. Successful traders may find this dry or unhelpful. I have recorded this for newer traders, and really for anyone who still needs to master chart analysis. If you are still copying trades without seeing your own confident setups, then watch this video.
NQ Power Range Report with FIB Ext - 8/29/2022 SessionCME_MINI:NQU2022
- PR High: 12512.00
- PR Low: 12460.00
- NZ Spread: 116.5
Evening Stats (As of 12:05 AM)
- Weekend Gap: -0.59% (open > 12558)
- Last Weekend Gap: -0.18% (open > 13125)
- 8/19 Session Gap: -0.04% (open > 13540)
- Session Open ATR: 300.97
- Volume: 50K
- Open Int: 260K
- Trend Grade: Bear
- From ATH: -25.6% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 13794
- Mid: 13531
- Short: 12959
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
$SPY - scenarios of interestPotential scenarios on $SPY for the upcoming weeks. 0.5 and 0.618 fib retracement and potential reversal. Will be cautious and if buying for swings I'll have stop losses right below in case this theory doesn't prove to be right. We had a strong volume on Friday's selloff, which suggests we can go lower.