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EURUSD Bearish Breakout Opportunity - 4H ChartMarket is targeting recent low at ~1.113 level. Previous test as seen from the chart led to a surge to the upside in only one candle, but could not hold these higher price points with the market pushing back down lower to this support level. Another significant test is the dragonfly candle seen thereafter. We will be looking to see the market break down below this 1.113 level and HOLD below it for at least 1 or 2 candles. We will then be in a position to look for entering shorts on the pullback with target prices as indicated - relating to significant support levels on both 4H and daily charts. We will endeavour to move stops to break-even should the trade move into profit and indicate signs of moving lower. Stops will be placed above recent highs above red lines (did not want to draw the actual resistance level as it is clear based upon the two points shown but would cut across a lot of price action and make the chart look more cluttered).
Short
by SanktuaryMAM
Long trade on NZDUSDI really like the looks of this setup. This is exactly the type of entry I like to see. A strong move into my entry with very little basing. The cleaner the move into entry, the easier time price will have of leaving the area. The only downside to this setup is that price tested the level already. I prefer fresh areas, however, since the test does not exceed 25% of my entry area, I feel comfortable taking this area again. My target is 72.687, but I no reason not to have a second target around 73.083. That is, if you have the patience. I see price basing around the 72.80 area. But it's totally up to you. If you want to take your profits and run, then one target should work for you.
Long
by MrBollinger
EURUSD: Ready for BullishDear traders, get ready for the long run. As we see on the FX:EURUSD 4H chart we have a very nice long opportunity. 1. Look at the channel where price has tested the edges four times and the fifth point is going to be the entry level. 2. Green support zone @1.0992: We have three retest at this level, some noise as well at the "X" point of Gartley pattern, followed by the entry point at the fourth retest. 3. Bullish Gartley Patern: And of course we have a gartley pattern which is going to finish @1.0992, Fibs ext. of 1.272 with the confluence of structure zone.. Our SL is going to be below the structure zone and "X" point. Our TP is going to be fibs 0.382-T1 and 0.618-T2
Long
by RCP
Crude Oil ForecastToday was a tricky day during inventory news. I was short going into the news with profit, and thought that the news would blast through the 50% fib level. Stop placement was too far away and took a big hit. Its a lot easier to be an analyst than be a trader during the live markets. As you can see, oil traders like using the magic number 3 at key levels. My levels are pretty accurate, but deciding what to do during live markets at those levels is another thing. Two scenarios for tomorrow with 2 possible targets. Price may drop to my target and bounce higher towards the upper target or price may drop down to the lows again and continue the downtrend. Have to wait for the 30min to close to decide what to do at these target levels. One of my targets are reached about 80% of the time. It looks like the break below the previous months low may have been a trap and we could see higher prices by friday for a close above the weekly support / resistance level
NYMEX:CL1!
by EliteTrader101
3