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USDCADI wanted to take a deeper look into USA and Canada. When looking at techs and fundamentals, there looks like there could be some space here for a run as we go through our interest rate spikes etc throughout this year. On the daily timeframe, I doubled the ATR for my stop loss and the target is near the 60% area which is where the previous high's are on a higher outlook as far as time. Let's see what happens over time. We are currently in a range of higher high's and I would like to see if we are getting the same pattern (look at circles). I'll wait as long as I can for this one. I compared the following statistics to try to get a more fundamental outlook vs depending on straight technical: GDP per Capita Differential (Lesser amount wins) - USA Productivity -USA Unemployment Rate Differential (Higher amount wins) -USA Government Spending (Higher Amount wins) -USA Business Confidence differential (Lesser amount wins) -USA Consumer Confidence differential (Lesser amount wins) - Canada Consumer Spending (Higher amount wins) -Canada What do you think? I'm looking for a more long term outlook here. This will be my only forex trade this year. Might scale in on this position over time if things work out.
Long
by Redimere_91
4
GoldViewFX - H1 Update and Targets$Quick update on yesterdays post on the HOURLY CHART (see link to related post below). We identified a range of 1817.42 - 1828.99 and expecting price to play in this range. EMA5 broke 1817.42 down with a candle body close, which opened up the lower levels. 1806 being the strong Goldturn level, however price went and HIT the recent 1814 Goldturn and found support. Anyone who noticed this break, which we highlighted could have caught 30pips here. The price then broke back up into 1817 Goldturn with a candle body close, which opened the upper levels, 1828 being the strong Goldturn, however price went and HIT the recent 1823 Goldturn and found some resistance; another easy catch, if anyone caught it to the next Goldturn. We had a buy signal activate here, confirmed with all our parameters, which we took and banked!!! We have also identified a Bull flag formation here and the potential target of the pole is inline with our overall 1828 Target. We continue to buy dips and should this change, we will be sure to update you all. Please don't forget to like, comment and follow, we really appreciate it. GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
4
USD/JPY LONG SETUP +135pipsMy overall conviction for the strength of the US economy is extremely strong with expecting the DXY to push much higher than market prices. Despite a lower than expected NFP figure today the internal metrics within the data such as wage growth , unemployment rates & household surveys were extremely optimistic for the US economy further acting as a confluence to UJ longs. From a technicals standpoint UJ has made a HTF rally and it could potentially pullback into a 45m area of demand to collect orders before pushing higher. A 10pips stop hunt was also evident at the same zone showing the tendency of price to act as such in the area. Price should also move lower to clear any buy-side liquidity under the trend line before mitigating the area of demand. If all goes to plan an easy 135pips would be banked.
Long
by lll63h
IntelI like historical pattern of this company. This an opinion based on an article I've just read but it seems as if the semiconductor issue is simmering down a bit relative to how unsure this issue was late last year. We also see a bunch of car companies having increased deliveries as well. Although Intel isn't the end all, be all within this sector, I can see at least a retracement of about 45% of the previous high seeing how price has reached this point up to 5 times since 2018's May. Let's see what happens! They also have enough cashflow to compensate for a hike in interest rates.
NASDAQ:INTCLong
by Redimere_91
DXYStepping away from indicators 2022. I see that price like to bounce off of my 150 ema. On the current candle we have strong rejection with a bullish candle on the 8 hour timeframe at a support zone. Price likes that 60% area. Price has been ranging since late November and with interest rate hikes, it should supply a small boost to the dollar. However, interest rate or not. A retracement SHOULD be imminent due to historical chart data. Let's see what happens. We just trying be better and do better. Nothing more...nothing less....
TVC:DXYLong
by Redimere_91
StocksThe Market's longer term uptrend still intact and things look cautiously optimistic. These names have shown good relative strength and accumulation volume and most are in the growth sector. This may give good risk/reward entries on some of the best names. Some of these charts still need to confirm their price action. This video is my watchlist. Most of these names are at or near all time highs or multi year highs. There are 29 total stocks on this list Many of these have IPO'd in the last few years and still have a growth story ahead of them. Know your time frame and risk tolerance. Know your earnings dates! I go through these quickly so grab a pencil and paper and jot down the names that look interesting to you and then make the trade your own. Good Luck!
NASDAQ:QQQLong
by Jtacher51
Stocks To Watch This WeekThe Market's longer term uptrend still intact and things look cautiously optimistic. These names have shown good relative strength and accumulation volume and most are in the growth sector. This may give good risk/reward entries on some of the best names. Some of these charts still need to confirm their price action. This video is my watchlist. Most of these names are at or near all time highs or multi year highs. There are 18 total stocks on this list Many of these have IPO'd in the last few years and still have a growth story ahead of them. Know your time frame and risk tolerance. Know your earnings dates! I go through these quickly so grab a pencil and paper and jot down the names that look interesting to you and then make the trade your own. Good Luck!
NASDAQ:DLTRLong
by Jtacher51
1
AUDNZDTechnical: Potential Double Top on Daily Timeframe. Possible rejection at the 200 ema. Price recently broke out of downtrend dated back to May and could be in position to retest the previous low from November. Fundamental: New Zealand has a higher interest rate having hiked twice currently at 0.75 from 0.25 and expects to get to 1.0 sometime next year. They plan on 4 hikes since they started ending towards the end of next year while Australia although considering to still make that decision, have sentiment that it may not need to hike until 2023. New Zealand has more reason to start taking action to strengthening their economy. I usually wouldn't trade a lower GDP country on the bull side however, I'm going off the interest rate hike news for an economy that's trying to recover. Higher interest rates, stronger dollar, given historical chart data even if priced in, I want to see if we can get a boost somewhere in the future for the NZD. Not Advice! Trade could go wrong but that's why we keep practicing!
Short
by Redimere_91
RobinhoodLooks like we are getting some consolidation around this area with a strong bullish candle kicking in. I know a lot of people may not like this stock. However, investing and trading is all about finding stocks that are under or at its fair value while giving it time to move. Benjamin Graham liked beat up stocks that have some juice left in it. Well this is Robinhood. Robinhood introduced me and a lot of my peers to investing/trading and have either changed our lives or given us sentiment that we can change things down the line for ourselves and family. This is that type of trade for me. There isn't a good amount of MOAT. However, I like that this company has the attractiveness to the youth with how easy it is to navigate the app and getting in and out of trades and even learning about different things. They make their money like any other broker through spreads etc. I've been using Robinhood for a year since I've began trading and have seen the development of the app continue to grow. Honestly, when most people beat up a stock that tells me that they may be doing something good to be honest. Reminds me of when Facebook went through their recent situation and look at their stock now. From an annual perspective, they have increased their free cashflow. Operating Activities increased. They are investing more into their business. Assets overpowered liabilities. Total Equity has increased. Debt has increased but not as much as the income they have brought in. Net income is out of the negative and their EPS is out of the negative. This isn't the end all be all. However, this is what I would consider to be a damaged stock that has juice left. I want to see a retracement of 38% or more of the previous high. Let's see what happens by 2024! Not advice! This trade could go wrong. That's what trading and investing is about. Let's keep working on getting better!
NASDAQ:HOODLong
by Redimere_91
GBPUSDAfter reading an article via Reuters, gross domestic product in the world's fifth-biggest economy increased by 1.1% in the third quarter, weaker than a preliminary estimate of growth of 1.3% as global supply chain problems weighed on manufacturers and building firms. Investors are braced for a further slowdown in the fourth quarter of 2021 and a weak start to 2022 due to a rise in COVI9-cases caused by Omicron which has hurt Britain's hospitality and leisure sector and hit retailers. Although on the daily timeframe, we are on a strong bullish candle, we've located a double top on the 4 hour timeframe. This pair has been on a downtrend since June of this year due to economic growth being slower than expected. I don't see why the US economy would grow slower than the UK is trying to recover. I don't want a homerun, just a retracement of at least 38% of the previous low on this time frame. Let's see what happens. Not advice* This trade could go wrong. However, it's about getting better!
Short
by Redimere_91
JPMorgan ChasePotential double bottom setup here. I like this companies financials. It's a credit card company so I'm thinking about the attractiveness of reward points and holiday spending. Even though it's not estimated to be a great holiday season for some, I'm more so thinking about the surcharges and end of month billing here. Chase is also a bank on top of that and just in case they raise interest rates, this may not be a bad move. I want us to reach anywhere between 50-68% of the previous high which was set inn October. I love financials around this time of the year. Let's see what happens! Not Advice! Only an Idea! This trade may end up going wrong. That's the nature of trading! Let's keep getting better!
NYSE:JPMLong
by Redimere_91
USDSGDOn the monthly we are coming out of a weekly buyzone. Looking for price to retrace the previous high. We are on the low side of the macd with it losing some momentum. It may take a while to reach its target. However, I need to focus on one chart that looked promising on the forex side of things. I don't need to trade everyday. I'm working on my discipline as a trader and am learning how important it is to just calm down. I like the DXY gaining strength towards the end of next year with interest rate hikes. I like the positioning of this chart. I will be patient and will update this chart as I see fit. Not Advice. Good luck!
Long
by Redimere_91
1
USDJPYLooking at the DXY, it looks ready for a retracement. I wanted to find a pair that looked good and that was near a high. USDJPY looks like a double top on the 1 hour time frame. For those following we previously entered the USDZAR last night and although it didn't reach the 38% target, it got close and we closed out in profit. With the BBB bill not being passed, there is sentiment that the economic growth will slow a bit. Although I'm still bullish on the dollar, the interest rate hikes haven't came in yet so I'm following the flow of technicals as I'm looking for support on USD pairs to get back for the next retracements. I'm only looking for a 38% to 50% retracement to the down side. I do feel like we are neck and neck as far as economic power with Japan. I don't know everything that's going on there, however I know that charts are all about retracements. I would say that this pair is overvalued and needs to retrace a bit! Not advice! "It's not about being right more than it is about being smarter than your last trade!"
Short
by Redimere_91
USDZARA little late posting this to be honest. However, I think this is still a good move. Double bottom on this timeframe, Mac D losing momentum on the recent pullback. Looking for 50% of the previous high for a retracement target. I'm seeing that ZAR has a stronger interest rates but I want to see if or why the USD will be or is stronger than the ZAR regardless of interest rates. Even though the interest rate are stronger on the ZAR and both countries expect hikes next year, I noticed that the unemployment rate was drastically higher in South Africa. the ZAR is facing a more stringent debt issue than we are (allegedly). If we handle our situation quicker than theirs, I could see our dollar being stronger over time. (Opinionated) check via tradingeconomics for source. Business confidence has remained stagnant with confidence in the US increasing a small amount since last report. With this info here and information sought out earlier, I would think that the overall sentiment in South Africa is low from an economic perspective. Not Advice! "It's not about being right more than it is about being smarter than your last trade."
Long
by Redimere_91