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$VDE Energy Sector Profit Taking/Profit Protection TimeAs the energy sector is heating up, it could be time to start locking in profits or raising stops to protect profits earned from the recent run up Energy more then likely will continue the overall uptrend in the long term as it works it way back towards its 2008 highs however from the recent short term high as the sector has run into a major resistance area over the past few years and increasing by nearly 40%+ since the start of the year to run into this area, it could just as easily pull back a big part of this move before it could be ready for the next leg higher
AMEX:VDE
by Tradingexperts24
BYND Buy Climax - Bull Profit TakingBYND broke out to a new all time high last week and tested above the 200 level where there was profit taking. Last week became a buy climax and prices are currently testing below the bottom of the climax. When a climax forms, prices often correct in two legs sideways to down (or up with a sell climax). However, there is still an open bull gap around 163. If this week closes on its low for a two bar reversal the gap will likely be filled and the bears will get two legs sideways to down before the bulls will look to re-establish longs, and a broader bull channel forms. The next obvious support level is the 120 large open bull gap. If instead prices continue to rally into the close of the week tomorrow, bulls will likely look to take profits around last weeks close. If you found this helpful please like! Feel free to comment or ask questions.
NASDAQ:BYND
by tradersmentality
GOLD: And Here Is Another Update & Why We Secured ProfitHey guys here is another trade update. We are looking at XAUUSD from previous idea, but on a lower time frame and right before FOMC statement. So be careful out there anyway. In the comment section on the last Gold idea i said that we closed our profit with +180 pips, but there is much more potential on the long side - BUT not now. I think Gold might retouch last lows on the daily and here is the short term outlook on the 1h chart. You can see a bearish cycle between larger structure consolidation. Our entry was pretty much at the bottom of this. To risky to let it run there again. So lets be patient and wait for another move down and then enter our long again.
FX:XAUUSD
by darian_fx
Stellar signaling a buy on dip sentimentPrice broke the black 61.8% Fibonacci level back in early August and then tested the same line as resistance on a pullback to the line. Selling interest came on to drop the price to the full retracement, as expected post-pullback. Now the price has reversed and busted the red trend line to the upside. The target for this break is marked with arrows and we are also marking this point as resistance 2. First resistance is being tested at the red 61.8% level as price slips on profit-taking. Look for buying interest to be found on this drop to support, which likely will come in around the previous black 61.8% Fibonacci level. The bull move should resume after a test of the black 61.8% level to get back on pace to reach the upside objective. If price breaks even lower, underneath the black 61.8% level, then look for a move all the way back to the breakpoint or support 2. Weekly S/R Critical Resistance: $0.3308 Key Resistance: $0.2870 Key Support: $0.2457 Critical Support: $0.2071
BITFINEX:XLMUSDShort
by CryptoMarket360
2
Possible XRP Path to celebrate Fibonacci Friday!XRP has launched higher at has crashed into resistance at the 50% level marked on the chart. With this large move now would be a place for profit-taking. However, as price drops back into another support Fibonacci zone, buyers are likely to get back in AND buyers that missed the launch last time will get in too. This should bring a bounce to the upper 61.8% level around .69. We can re-evaluate once the price is testing the Golden Ratio. If the drop does not hold at the lower 61.8% level.. we can easily drop back to the previous low. Happy #2 on CMC for XRP and Happy #FibonacciFriday
BITFINEX:XRPUSD
by CryptoMarket360
PAL Chaikin Money Flow BullishTrading today has been bearish for the stock as people take profits near resistance. However, the Chaikin Money Flow (CMF) is above zero which says the bullish trend is still in effect. The CMF operates regardless of how bullish or bearish market participants may opine to be one day or the next. As seen on the chart the trend remains upwards as the CMF is above zero. Thus when the CMF is bullish above zero, and the chart shows red days, peaks, drops, or consolidations these are possible buying opportunities. It really is not much different than going to the store and shopping with coupons. Read more about this indicator and its uses at www.tradingview.com Note that this indicator should not be used as a stand-alone buy or sell decider. It can be out of sync at times but it is helpful in confirming chart trends if it has worked in the past, just like any indicator or system one might use. If it seems out of sync then perhaps people are drawing trendlines on the indicator to see where it breaks through instead of seeing when it crosses the zero line.
BATS:PALLong
by trademan1