CHFJPY: Waiting for Breakout
CHFJPY is currently trading within a wide horizontal trading range on daily.
For intraday trading opportunities, consider its boundaries as safe places to buy/sell.
To catch a new swing, though, we must wait for the breakout first.
In case of a daily violation of its resistance (daily candle close above), bullish continuation will be expected to 118.5
In case of a bearish breakout (daily candle close below its support), bearish wave will be expected and goal will be 115.3.
Wait for the decision of the market participants and then follow!
Swingtrader
TQQQ long swing trade entry off- heiken ashi strategyShortly after bouncing off the 21 day moving average, we got a buy signal.
Closing price was 164.74
1st Take Profit (10% of position @ 4%) = $171.33
2nd Take Profit (10% of position @ 8%) = $177.92
Exiting on 1st red heiken ashi or 9th green. No stop loss, chart shows 12.3%, this is max single trade drawdown of this strategy from 2010-2020, in order to show max risk.
SWING TRADE STRONG STOCK AARTI INDUTRIES BUY AARTI INDUSTRIES IN DIPS NOW 1023.30 SL 980 (ON CLOSING BASES ) TARGETS 1200
STRONG STOCKS ON STRONG SUPPORT AS TRENDLINE (LOW RISK HIGH REWARD TRADE)
Over the last 5 years, net income has grown at a yearly rate of 21.09%, vs industry avg of 8.53%
Over the last 5 years, revenue has grown at a yearly rate of 7.54%, vs industry avg of 4.05%
Over the last 5 years, market share increased from 8.4% to 9.31%
GBPCHF SHORT - PRICE HAS REACHED DAILY LEVELPrice has reached key daily level and is moving very correctively on the H4 timeframe showing signs of weakness and a potential reversal and a swing to the downside is becoming more probable. Price has tried to break through this level 2 times before and is now on its 3rd attempt, so if we see price hold we can expect to see a bearish swing to the daily level below which was resistance but will now be acting as support.
Comment below what you think will happen to GBPCHF
AUDNZD LONG - Potential breakout of descending channelPrice has been moving in a descending channel on the H4 time frame on AUDNZD and has recently made a 3rd test of the lower trendline and has had a strong bullish rejection from it. There is a good possibility that we could now get a swing to the upside and finally see AUDNZD breakout of the channel and see a test of the next key level of resistance above it.
CHFJPY LONG - Key H4 level is holding and a reversal is possiblePrice has been moving in a downtrend for the past few weeks and has tested the bearish trend line 3 times with strong rejections each time. However, price is starting to lose momentum in its down trend as price is failing to set new lows and we have just recently had a strong bullish reaction from a key H4 support level. Price has the possibility to reverse and give us a counter trend move and break through the bearish trendline and test the key level of resistance above it.
USDCAD Top Down AnalysisWhatsup Fearless Traders! I hope you are all ready to have a great week. I will be hunting USDCAD opportunities this week. On the short term, I will look for sells if they present themselves, but overall I am looking for some medium term buying opportunities.
Have a great week and let's smash it!
Price Action & Psychology - Pullback, Trend, SupportHello !
Key points :
Notable support zone
Pullback after breakout
Direction of trend
Volume spikes on uptrend
We've pulled back to an historical important zone, which acted as support. We're taking this trade after a breakout on high volume and wide range candles in the direction of the general trend.
Volume represents the number of shares traded on any given day (talking about a daily chart). So if on that spinning top (2) we've seen high volume, but prices didn't rise, this must mean that sellers were stronger.
I see a few clues here :
Those that bought on the previous resistance (1) and were stuck, sold
Profit-taking from the breakout (2)
The pullback made other traders sell
Considering the price action on the last 2 trading sessions, we see relative low volume and some indecision, we've reached a certain " balance ". This tells us that basically, most of the traders are waiting on the side lines.
What we're looking for here, before we take the trade, is volume . We wanna see buyers come into the market.
Thanks for reading and if you have suggestions or want to discuss the idea, just leave a comment, I'll be happy to answer.
***Disclaimer : This is not an advice to buy the stock. Please, be aware that trading is a matter of probabilities and that it only takes ONE trader to deny your trade.***
Breaking downtrendsSeems like price wants to fight back to a higher level, beware of possible Head&Shoulders. Good volume on the last bounce, buyers are getting control.
Possible Retracement Before ContinuationThis pair looks like it has a huge retracement due this week before continuing for the short. Retracement may end in the 1.79129 zone before the short continues. If not, we'll keep going up to the next zone above for a fresh to test the last lower high.
BULL TPs:
• 1.78192
• 1.79129
• 1.80512
BEAR TPS:
• 1.75881
• 1.75308
• 1.73815
• 1.72856