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USDCAD LONGAfter the FOMC statement on interest rates, we are anticipating an upswing on USDCAD. The USD is anticipated to gain value. The entry point at 1.23800-1.23880 is a great entry for our buy as we can place a stop loss close by which we do not lose many pips. The technical analysis has a diagonal support around 1.23750-1.2380 as well as the 50MA and 100MA around the same region which can also be used as support levels. This gives us a great entry for a buy, by which we would be continuing the current short term uptrend which can be best observed on the 4H time frame. Else breaking this region, would be continuation of the longer term downtrend, and we can anticipate a further fall to maybe 1.2350 level and a potential drop to 1.1900. Until we break stop loss region we favour the bullish momentum. A good place to take profit on this trade would be around the 1.4650 region and Stop loss at 1.23690
Long
by TakeProfitExperts
1
How To Set Stop Losses And Take Profits using EMA StrategyWait for price to break and close below a level. In this example, price closed below support level and turned resistance. Next, wait for price to retest level as new resistance. The retest in this example formed a candlestick that created a wick which protruded through Horizontal Resistance Level, EMA 20 Resistance Level, and Diagonal Trend Resistance Level. For short trade opportunity, set stop loss above EMA 20 Price Level and Rejection Candlestick High Price. Set take profit at previous swing low.
Education
by TradeLive-
Solana (SOL) | Be Careful!Hello, everyone! Today I want to tell you my opinion about SOL possible future price action. It is obvious that Solana is a top project, the very fast blockchain with the lowest transaction fees. That's why it is so popular and demonstrated the huge growth. Today this is very dangerous idea to buy SOL, first of all, because of the less that $0.1 price for early investors. It is more than 1500X profit for them. I think is is more than enough for them and they can start the long bear market on Solana in every moment. On the charts you can find the lowest price of $0.18, but the first token sale was with the price, as I remember $0.04! Fantastic! Technically it also looks like the end of bull structure will be soon. We can clearly see the 1-2-3-4-5 Elliott wave structure. The current wave's number is 5. According to Fibonacci Extension, now this coin is on breaking point. The price found resistance exactly at 0.27 Fib extension. This is the point when the bears start to take the short position for the long run. If the price manage to break through $183 price level, the 5-th wave can prolong to the 0.618 Fib level ($763). It looks realistic if the Bitcoin demonstrate the terminal growth phase, as I supposed in the previous analysis. But I can give you an advice, if you are Solana holder, you can partially take profit now. If you are going to invest in SOL, it is NOT the time to do it. Risks are too high! DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
BINANCE:SOLUSD
by Skyrexio
12
Pond hidden bullish divergence. Upwards continuation.Historic bounce off of RSI oversold support line. Hidden BULLISH divergence on MACD to confirm upward trend continuation. Price respecting the upward trendline dating back to JULY. Price fulfilled long term Fibonacci 'ABC' pattern, waiting on price to reach target 'D' (0.22494) - our first take profit. Price also completed a short term Fibonacci sequence, 'ABC', first short term Fibonacci target 'D' (0.21911) aligns nicely with long term Fibonacci target. Have patience, don't get greedy and not take profits when price reaches our targets :) Have a nice day.
Long
by Secret_Cervix_Agent
4
BTCUSD Short IdeaMy previous BTC long hit TP1, and as I said I moved SL into Break Even once that happened, so made small profits on that. Now, I'm shorting. We have printed an inverse Cup & Handle pattern, and the technical target for that is my TP2. TP1 (the purple line) is at a support zone. Evidently, fundamental factors going on in China are seeming to impact the overall economy negatively which is also reflecting in the crypto space. I'm expecting a falling crypto market for the near future. Will enter and post more shorts if I encounter any.
Short
by afatuliaj
2
BTCUSDT Long Idea with Take ProfitsI have placed this long on Binance Futures - On the 4hr/Daily timeline, one can draw a downwards channel that Bitcoin has been ranging in for the last 4 weeks. Past week it's been in the upper half, and the 2nd to last 4hour candle had a big bounce off the bottom region to close on the median line. To me, that implied strong bullish momentum, albeit it still closed as a bearish candle. It was followed by a bullish candle, not as powerful as the first, but still with an average amount of volume for the past 20 4hr candles. This could easily turn down and continue further to 37700, hence I only risked 1% instead of my usual 2-3%, but seeing as the fall down from the upper region of the channel down to the middle stemmed from big news and extended by liquidations of futures and other derivatives, I believe that people will be buying up this discounted BTC in the coming couple days. Hence, the long TP 4. TPs 1 and 2 - indicated by the purple lines - stem from my bias towards the upside in the short run. Even if the overall trajectory is down, I feel the short-run (couple days) is upwards. The Adam and Eve pattern on the 15 min is a bullish sign, the neck of which we broke with strong bullish candles. TP 1 and 2 are at basic resistance zones, with TP2 being just below the technical target for the Adam and Eve pattern. TP2 is also just before the 50% retracement of the Fib taken from 19th September (before the massive drop) to the trough from 12 hours ago. Another sign we could reach TP2 in the short run without too many problems from the technical perspective. With TP2 being touched, that would take out a total of 75% of my position; only 25% will be left to ride out to my TP3 and 4, or hit a SL that I will move to break even when price hits TP1, or to TP1 when it hits TP2.
Long
by afatuliaj
21/09/20 - Gold (XAUUSD) Still holding my longs - by RT_Trading_Hi Traders, As you can see, gold has found its way back to my entry. I honestly did not expect such a deep correction of the inner wave 2. However, that does not mean that a 90% correction of wave 2 is not possible. As we have not made a new low, I am confident that we will hit new highs above the 1767 level in the coming week. Why am I sticking to my bullish count? 1. The Double-Zig-Zag WXY consists of three waves each. 2. Wave Y corresponds to an 1.618 extension. From this point on, sell orders were triggered. C can extend a maximum of 1,618. 3. Wave 5 of C corresponds to an extension of 2,618. All of these points only let me infer the bullish count. I think Monday should tell us whether I'm right or not. If my SL will be hit, my count is due anyway and we are definitely in wave 4 or already in wave 5 of C, which would invalidate my analysis. If this is the case , I will provide you with a new analysis that will reflect the optimal entry point for wave 1. I wish you all the best for the coming week. If you have any questions, feel free to write us a DM. We are happy to answer them. This is not financial advice. RL from RT_Trading
OANDA:XAUUSDLong
by RT_Trading_
EUR/USD:UPDATE SHORT POSITION|BEARISH SHARK PATTERN| FALL ⚡️Just an update of yesterday's idea Welcome back Traders, Investors, and Community! Check the Links on BIO and If you LIKE this analysis, Please support our Idea by hitting the LIKE 👍 button Traders, if you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this. Feel free to request any pair/instrument analysis or ask any questions in the comment section below. Have a Good Day Trading !
Short
by FOREXN1
1