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Telphee

EURUSD_How NOT to trade_Reflection of last week_2/12-16/18Last week was not good as I was on the wrong side of USD plain and simple. On Friday - two weeks ago I opened a short position on EURUSD during what I considered a counter trend pullback. Unfortunately EURUSD decided to resume trend and run higher Monday through Thursday. Stoploss taken (see attached.) By Thursday I was confident I had gotten my head on straight and identified a 4 hour sell signal on cad (by shorting USDCAD I was positioning long EURUSD. So I shorted Cad about 35 pips from the low, only to watch EURUSD fall roughly .77% Friday and USDCAD ripped higher to take my second stop loss of the week (see attached.) I ignorantly felt like could profitably trade the counter trend pullback on EURUSD, only to watch THE EXACT setup I'm suppose to be watching for, a beautiful WITH trend reversal signal perform perfectly. But in that moment I refused to trade it because of my non-faithful short side bias. Not pictured is the perfect daily 10-10-20 slow stochastic that showed extreme prejudice for trend continuation. By the time I had gotten my head on straight and accepted EURUSD's ability to run higher the move had already been made. Price hovered at the top of the range where I should have been taking profits. The pain is punishment for lousy mistakes. Good news is I only risked 1% on the first trade and .5% on the second per trading plan detailing hurtful losses.I hope my followers my learn from my mistake. I also want to sheepishly comment I had been testing out new indicators and charts that I was unfamiliar with. When I pulled up my old style chart with the strong fib levels it became obvious how stupid this mistake was Not going to rattle my cage. I'm playing these markets. Not the other way around.... If you found this lesson useful or thoughtful Likes/Comments/Follows are much appreciated! Disclaimer: Oanda data shown. Material is educational only. Trade at your own risk!
by UnknownUnicorn981629
1
EURUSD_Trading idea_Strategically short until proven otherwiseHello everyone. Looks like EURUSD is going to form a temporary bottom here and break higher in attempt to confuse as many traders as possible. However on 4 hour the downtrend is well established. Fib is on DAILY chart. Precisely ran from the low of 1.15536 created on 11/07/2017. to the high of 1.25378 put in on 01/25/2018. Entry area is general. I will need to see signs of rejection on 4 hour before I jump in. Stop loss on trade or idea is indefinite. This is a short-term trade. It either works or it doesn't. I will not have my emotional capital tied up if EURUSD decides to test the highs. T1 1.22180 T2 1.2106 Wait for confirmation before entering. We are entering a COUNTER TREND trade and we should not get greedy. Notice how T2 is slightly before the old major high that still needs to be retested for the market to run higher longer term. If filled I will take half the position off at T1 and trail the other half to T2. Good luck traders! If you found this analysis useful or thoughtful Likes/Comments/Follows are much appreciated! Disclaimer: Oanda data shown. Material is educational only. Trade at your own risk!
Short
by UnknownUnicorn981629
2
$DXY_USD_Trend & Fib analysis_ Longterm to Shortterm_ €EURUSD€.Hello everyone. My name is Virginia TElphee and today I’m going to explain to you my thoughts on USD that will help us better navigate ALL forex markets in the coming months. Please note these are just my opinions and should not be considered investment advice. Looking at this Daily candlestick chart of USD index – ticker symbol DXY a few general observations are noted. DXY is in an obvious downtrend. 92-91 proved to be a very hard level supporting price for approx. 3 months. Finally, price exploded through the level and provided many closes below the 91 level on large time frames. Now that lower lows are confirmed it is time for the market to pullback into old support as part of its verification process. Wave analysis helps highlight the general moves. Forgive me the waves are not perfect, but I feel they are good enough. Long term we have made a substantial move out of a coiled range. This would definitely qualify as the start of a new large cycle impulse wave count. Large cycle wave 1 inner structure is completed by two impulse waves back to back. We are on our way to completing long term wave 2 as seen by the blue waves but understanding of wave logic we should account for alternation and do not expect another back to back impulse pattern in the short term. This leads us to where the market is presently. As of the close of market Friday USD looks a tad bullish confirming my suspicion we are in a correction phase that will be equal to the first correction which not only satisfies the alternation issue but means our next impulse move down should be after a 3-wave correction occurs. This action would also confirm a verification that old support at 92-91 level has become overhead resistance. So If DXY moves up to 92-91 level like I suspect I will be watching diligently for long term short positions. If the most aggressive outcome occurs and price runs down to test these lows I will also be watching for short term shorts. Be warned if DXY has a Weekly close above 93 the wave counts and this analysis are no longer valid. Long-term if the market moves as anticipated and the wave counts add up we should be due for 84-83 area to complete a long-term 3 wave pattern or potentially a 5 wave impulse down to high 70s Midterm its possible we see rejection in the 92-91 levels as one impulse count closes and corrects. Short term we move to 91 or break down below 88.50 In conclusion This means the EURUSD and all other XXX/USD currencies are midterm are bearish but long-term bullish. USDCAD and all other USD/XXX currencies are midterm bullish but long-term bearish. Understanding the forces of the USD is the most important factor when trading FX. If you’re firm on your direction of DXY you stand a much better chance of choosing the best opportunities out of our basket of USD valued currencies and ultimately being a successful forex trader. If you found this analysis useful or thoughtful Likes/Comments/Follows are much appreciated! Disclaimer: Oanda data shown. Material is educational only. Trade at your own risk!
INDEX:DXYShort
by UnknownUnicorn981629
2
EURCHF_Ascending Channel_Waiting for the RetestThis market has been in a solid up trending channel since August 2017. Recently price has broken out of the channel and closed the week below showing solid signs of weakness. These formations almost always show confirmation before playing out. A push up here would serve to stop out all traders who shorted prematurely and allow us to get the best entry possible. Since August 2017 we've been in an uptrend. Like EURUSD, we can assume EURCHF trades higher when DXY trades lower. Even though this formation looks strong I will need to see EURUSD pull away from the highs before I trade this short. If EURUSD is due for a pullback this opportunity will be superior. I personally thing EURUSD could go just a little higher, which would push this market to our entries. Waves aren't exact, just show our intentions. Also check out the monthly stochastics on the chart posted below in the comments. I will be posting entries exits and comments so stay in tune! If you found this analysis useful or thoughtful Likes/Comments/Follows are much appreciated! Disclaimer: Oanda data shown. Material is educational only. Trade at your own risk!
Short
by UnknownUnicorn981629
(€) EURUSD_4 hour setup_Long_Fed Wednesday (€)4 hour bar setup up. Choose not to take original entry. Waiting for strategic hopefully federal reserve will get us in. Strategic entry- 1.23830 Stop at 1.23342 T1 1.24318 T2 1.24806 Setup valid 24 hours. I'm only posting to document this setup. Risk no more than 2%. If you found this analysis useful or thoughtful Likes/Comments/Follows are much appreciated! Disclaimer: Oanda data shown. Material is educational only. Trade at your own risk!
Long
by UnknownUnicorn981629
Learning how USD corrolates with non-USD currencies. EURCADMy CURRENT definition of RISK. RISK ON USD down, moving XXX/USD currencies up and USD/XXX currencies down. or RISK OFF USD up, moving XXX/USD currencies down and USD/XXX currencies up. Mid term (3 wks-6mo) I lean bias towards 2018 trading in RISK ON mode. Which means EURUSD is a buy mid-term. USDCAD is a sell mid-term. In the last several months we have been in RISK ON mode with EURUSD in a obvious uptrend. I've noticed EURCAD trends UP when we are risk on. So mid-term we cannot expect to short EURCAD because we know the underlying currencies are in up trends. Short term I do believe there is room for a pullback to the 1.53 or 1.52 levels coupled with a pullback in EURUSD. But ultimately I will be looking to trade EURCAD higher in months to come. Full Disclaimer: This is a test I'm running to better understand how correlations among two USD pegged pairs perform when pegged against each other. I will be referencing both EURUSD and USDCAD often. EURUSD is perfectly 1-1 inversely correlated with USD. This is because the EURUSD is the strongest correlated currency to the USD in the world and ultimately controls EURCAD by nature. Trade between the United States and the European Union is over half of USD transactions so EURO's are the most strongly correlated out of all other currencies. That being said when I'm looking at the price of EURUSD, I'm actually reflecting on the price of USD if that makes any sense. EURUSD is up when USD is down BECAUSE USD is down! I track USD with the US Dollar index. Ticker DXY. If you found this useful or thoughtful Likes/Comments/Follows are much appreciated! Disclaimer: Oanda data shown. Material is educational only. Trade at your own risk! and ultimately controls EURCAD by nature
Education
by UnknownUnicorn981629
Gold_GC_Short_Double Top with Gaps_Too good to miss!Gold is forming a double top that looks awesome! GC has a historical pattern of double topping, particularly at these levels not only by the first top shown but other reversals throughout history. Notice the gaps approaching the high and the gap after the high. Both are almost identical in price and structure. I will be getting short Gold and have laid out two entries. On smaller time frames Gold has already fired a perfect sell signal that played out 1x1 perfectly. That being said I love to take entries when stops are being hit. If price will give me the chance I'll risk 1 contract at the strategic entry and 1 contract breaking through the low as an aggressive entry. I'll ride it out to T2 and trail from there. Strategic entry 1356.1 Aggressive entry 1340.3 T1 1314.1 T2 1287.9 T3 1261.7 Stop at 1366.5. Hopefully we don't need it. If you found this analysis useful or thoughtful Likes/Comments/Follows are much appreciated! Disclaimer: Oanda data shown. Material is educational only. Trade at your own risk!
COMEX:GCG2018Short
by UnknownUnicorn981629
1
(€) EURUSD_Trend & Fib_Short-Mid-Longterm Analysis. (€)Traders. Take a look at this Monthly chart on the left and Daily chart on the right. The purple Fibonacci levels are substantial and represent psychological pullback levels that will act as support if EURUSD decides to test the quality of the trend. This Fibonacci sequence is ran from the high in 2014 to the low found at the beginning of 2015. EURUSD is in the middle of a big move to the upside after being held below resistance for two long years between 2015 and 2017. Price has broken above the resistance and since pulled back to verify old resistance was now support (see yellow arrow.) However, price has quickly approached major trend lines (red lines) that we should be cautious about. Understanding of the momentum behind the market after being held down for two years, we may have enough fuel to neutralize these trend lines soon. Short Term (1-3 weeks) - We are in a solid uptrend but testing major overhead resistance. There is a high possibility we stay range bound between the .382 and .618 fib levels. Long trades only consideration at the moment. Unfortunately we will need to be patient and let the market decide what it wants to to. During this time path A, B or C will be defined and you will be updated. Mid Term (3 weeks - 6 months) - We are in a known certified uptrend but the possibility of a pullback is likely being at major overhead resistance levels. The trend could resume but its just as likely we test support first. If support fails the pullback could be bigger than expected and play out a C scenario even though its very unlikely. Long Term (6 months - Year) - The uptrend should continue to define itself. Target of 1.4 throughout 2018 into early 2019. Would need to see major weekly reversal signals and daily down trends to consider shorting EURUSD in 2018. 2018 Risk definitions: RISK ON - Short DXY, Long XXX/USD, Short USD/XXX. RISK OFF - Long DXY, Short XXX/USD, Long USD/XXX. IF you found this analysis useful or thoughtful Likes/Comments/Follows are much appreciated! Disclaimer: Oanda data shown. Material is educational only. Trade at your own risk!
by UnknownUnicorn981629
USDJPY has a special place in my heart. USDJPY has always been very good to me dare I say. November 2017 my followers and I captured a picture perfect sell signal and that same area continues to be a profitable selling zone. USDJPY had many reasons for this down move. It's unfortunate I did not short on 1/8/18. I have been solely studying EURUSD. I do feel its a missed trade but I am NOT entering out of spite. Now the USDJPY has blown past my entry, which I should of had orders pending. (Believe it or not the chart was drawn out, just not posted or orders placed) I'd love to see a test and rejection of my relative entry level. Otherwise I won't enter. Trade well! IF you found this analysis useful or thoughtful Likes/Comments/Follows are much appreciated! TElphee – Self-made Technical Analyst. 5-year market enthusiast with experience in Forex, Futures and Cryptocurrencies. Disclaimer: Oanda data shown. This is NOT investment advice.
Short
by UnknownUnicorn981629
Crude Oil Short_CLG18_Wave&Fib Analysis_Strategic entry desiredEvening traders. Crude oil appears to present the best pattern for swing trades on this 4 hour chart. Like EUR/USD and DXY, they are at the end of 5 wave impulse pattern. Next step is to complete a three wave correction which should take us between wave 3 and wave 4. That being said I'd really like to see price push back up to the strategic entry labeled on the chart. Price has rejected the level once already. I had not developed the trade theory at that point or that would have been a perfect entry. That move only stands to influence our confidence in this setup. It is proof of overhead resistance and new found downward momentum. I feel comfortable taking the aggressive entry to be in this market. I'd risk 2% (1 contract) at the aggressive entry and 1% (1 contract) at the strategic price. 3% total position. This way I've got low risk if price shoots up and fills the strategic entry and runs to the stop, but I've also got enough skin in the game to be content if this pattern plays out. (Obviously futures contracts are not able to determine percentage risk, so I did single contracts instead. I will be trading with ETF) Goodluck! IF you found this analysis useful or thoughtful Likes/Comments/Follows are much appreciated! Disclaimer: Nymex data shown. This is NOT investment advice.
NYMEX:CLG2018Short
by UnknownUnicorn981629
ITHUF - Marijuana Investment Firm - 120% Returns.On 1/4/18 Jeff Sessions tells federal judges they have the authority of the federal government to prosecute marijuana growers and researchers thus revoking Obama's peace clause. All marijuana related companies were slashed in half that Friday so I browsed the scene after the close to see if any charts looked promising. Lone and behold I found this stock hiding in the rubble. It looked most promising because it had made a higher high before Washington intervened. I placed entry orders below where the market had closed, expecting price to retest the lows before recovering of which the market let me in perfectly. Purchase 5 shares at 2.188 on 1/5/18 on the market open Monday at 9:30 am. Sold 5 shares today 1/22/18 at 4.858 at 9:49am To stay diversified I also purchased a couple other stocks that had equal potential. But this one performed the best. PRMCF @7.5 5 shares. TWMJF@22 2 shares. THCBF@ 1.8 5 shares. I dont typically post things in hindsight but these trades turned out way better than expected. I do have the statements to prove I took entry which will be posted in the comments below. IF you found this analysis useful or thoughtful Likes/Comments/Follows are much appreciated! Disclaimer: TD Ameritrade data shown. This is NOT investment advice.
OTC:ITHUF
by UnknownUnicorn981629
BTCUSD_Bullish_But expecting the worst and being thankful!Markets move in the correct direction with as few traders as possible. Knowing that BTC is going to trade as irrationally as possible. Price is expected to retest the lows. Reversals anticipated. This bull flag looks way to obvious. Usually when formations look this good markets become as painful as possible. I expect price will flush out traders before moving higher. There is historical evidence of price setting up bull flags and moving in the opposite direction initially then moving in the right direction. So we are going to try and get the best entry possible on the fake out. 36 bars/days seems to be relevant in other posts even in different context of what I've drawn here which is very interesting. Excited for what this formation could hold! Post your opinions! IF you found this analysis useful or thoughtful Likes/Comments/Follows are much appreciated! Disclaimer: Binance data shown. This is NOT investment advice.
Long
by UnknownUnicorn981629
Trends are THE MOST IMPORTANT tool in the toolbox.Hello Traders. Hope everyone is staying warm. Snow and zero degree temperatures expected in Virginia. Many traders use many different indicators. There are so many its impossible to tell which ones are useful. Simplicity is key. The most important tool in a traders toolbox is the ability to deceiver the prevailing trend. Using higher high/ lower low analysis we can identify the difference between strong market moves and weaker ones. This stems from the well known philosophy that in order for markets to continue moving in the correct direction they need to confirm momentum shift before making large moves. -Resistance is considered overhead levels that price struggles to break AND CLOSE above. -Support is considered under price levels that price struggles to break AND CLOSE below. Notice how I mention, AND CLOSE. It is 100% required that price CLOSES above the support or resistance level to declare it broken on whatever time frame chart being traded. After the perfect head and shoulders pattern unfolded many traders continued to short EURUSD without much success (Took a stop loss myself) One must recognize the downward momentum was triggered by the bearish head and shoulders pattern (see attached post, traded perfectly.) In actuality the trend is still bullish. At the end of the head and shoulders move, trend reversed only briefly. Price was unable to break the low before moving higher. At (1) the first top was made. After making new highs, we always expect a retest of old resistance confirming support. (2) Price came back and tested old resistance, confirming support in a reckless fashion. This wiped all long traders out and assured direction for short traders who were burned before. Once everyone was mixed up, the trend prevailed to the upside. Now we find ourselves at (3). New highs have been confirmed so price is expected to retest old resistance to confirm as support around the 1.19500ish level. At this level I will be watching diligently for signs of rejection and ready to take entry on a single close of any rejection formations. If we confirm price action, targets are estimated around 1.2300. IF you found this useful or thoughtful Likes/Comments/Follows are much appreciated! TElphee – Self-made Technical Analyst. 5-year market enthusiast with experience in Forex, Futures and Cryptocurrencies. Disclaimer: Oanda data shown. This is NOT investment advice.
Education
by UnknownUnicorn981629
8
EURUSD Wave and Fib Analysis -insightful. Newish highs expected.EURUSD is certainly in an uptrend here but currently testing strong overhead resistance from the previous high from 9/08/17 (brown line.) A pullback is expected where I will be placing buy orders. Correct me if I'm wrong but the orange fib is running from the peak at 1 to the trough at 2. The extensions appear to cluster with other resistance levels in the area. 1.23000 has been a hugely important level in years past so profits should be secured before this area. Stop loss defined below the wave of 1 - 2, thus invalidating the wave theory, around the 1.17100 level. Entries and exits will be posted. Good luck traders! IF you found this analysis useful or thoughtful Likes/Comments/Follows are much appreciated! TElphee – Self-made Technical Analyst. 5-year market enthusiast with experience in Forex, Futures and Cryptocurrencies. Disclaimer: Oanda data shown. This is NOT investment advice.
Long
by UnknownUnicorn981629
EURUSD_Swing Trade_Patience_Head and Shoulders.On both daily charts seen above, Eurusd is forming a decent head and shoulders pattern anticipating moves to the downside. These setups have been historically powerful but require a lot of patience. I will risk 2% of account balance and intend on taking 1% off the table at T2 and letting the other 1% have a chance at T3. Entry - 1.18612. If we are fortunate enough to gain entry, I'd like to be short at the tip of the shoulder. The entry has already been perfectly triggered, but we know how the possibility of reentry exists. The ideal entry would have been a tick or two above the left shoulder (1.18612), of which the market gave us (1.18629) T1 - 1.17607 T2 - 1.16602 T3 - 1.15597 Stop- 1.19617 because the high of our setup head is 1.19612. DXY is also forming an inverse head and shoulders that remains in effect until 92.49. I will proceed with the assumption that DXY will move up in the weeks to come, pushing EURUSD down. Setup is valid as long as DXY does not close below 92.49. News/Fed data is irrelevant to this trade. Note: Unfortunately I did not have the time to catch this formation as finals week has been brutal. I will be back in the swing of things over winter break. Lets make some pips! Like/Comment/Follow TElphee! – Self-made Technical Analyst. Certification not held but desired after college. 5-year market enthusiast with experience in Forex, Futures and Cryptocurrencies. Trading View is my trading journal. I’m posting a series of live trades and documenting them in real time. Share your opinion, but remember we are only discussing opinions. I’m very eager to learn! Find TElphee on LinkedIn/Twitter/Trading View Disclaimer: Oanda data shown. This information is my own opinion and should not be considered investment advice. Please consult a professional before trading.
Short
by UnknownUnicorn981629
NZDUSD_Clear direction_Wave Analysis_LongNZDUSD is in certified uptrend on the daily and has since pulled back and tested old support and verified it has now become resistance (Purple circle on daily .69500-.69400) This also aligns with my current trading plan bias of XXX/USD symbols higher with lower USD/XXX symbols (See related idea.) Two entry points have been established, of which I will enter 2% of account balance on each. The first entry point is obvious, just a break of the high. The second, a strategic entry on a unlikely pullback. 1. Long at .70342 2.Strategically Long at .69779 Stop at .68990. Technically far below uptrend invalidation level.69011, but comfortable due to round number protection. T1 .71694 T2 .73046 T3 .74398 IF you found this analysis useful or thoughtful Likes/Comments/Follows are much appreciated! TElphee – Self-made Technical Analyst. 5-year market enthusiast with experience in Forex, Futures and Cryptocurrencies. Disclaimer: FXCM data shown. This is NOT investment advice.
Long
by UnknownUnicorn981629
LTCUSD-Litecoin-Wave Analysis-Bottom Established?Merry Christmas Traders! Litecoin made a top on 12/18/17 at 370.78 (Bitfinex) Since then price has made a nasty retracement to the 150 level on the 12/22/17! $150 for a coin worth 300 a week ago! Duh! Now the only thing to do is wait and see. Price can either do two, maybe three things. 1. Remain in the Down trending channel where 200 and 160 will act as support. 2. Trend sideways between 300 and 225 OR!! 3. Break out of the acceding channel with force testing the all time high and in wave form, breaking the high. Details: I'm new to wave theory. Wanted to see how this plays out and what the community thinks. This is a 4 hour chart. Fibs are ran from initial waves 1 & 2 with only the extensions (1.618,2.618, 3.618) showing in color code to the wave. Time and percentage ranges are approximate. Comments..? Suggestions? IF you found this analysis useful or thoughtful Likes/Comments/Follows are much appreciated! TElphee – Self-made Technical Analyst. 5-year market enthusiast with experience in Forex, Futures and Cryptocurrencies. Disclaimer: Bitfinex data shown. This is NOT investment advice.
BITFINEX:LTCUSDLong
by UnknownUnicorn981629
7
EURUSD_Strong Technical Analysis_Fibonacci Retracements_Long!Technical Analysis of EUR/USD with Fibonacci retracement indicators. Large time-frames (Monthly Weekly) are showing an uptrend that is still intact. The latest counter trend move down (Oct-Nov) has been a classic retest of old resistance now becoming support which indicates a strong possibility of bullish trend continuation. The classic retest level of 1.16000-1.15000, which held price below for 2015, 2016 and half of 2017. Daily chart on the left. Higher time-frame perspective displays a test of the .50% level with solid signs of rejection. Our purple Fibonacci retracement is drawn from 2017's highest high (Point A); To our last noticeable pivot point, on 6/20/17, with a low of 1.11190. These levels hold the most weight moving forward. I have projected the levels as purple dotted lines on lower time-frames. The 8 hour chart on the right shows the lower time-frame Fibonacci retracement (Orange) is running from the highest high (Point A) 09/08/2017 at 1.20930. To the lowest point of the retracement 1.5536 (Point B) on 11/07/2017. Particular levels of interest lie between the larger TF fib .235 -.382 levels. Price has ranged within this zone since October. Long-term my bias will be long EURUSD in the coming months. Long side bias will remain in effect until price closes below the lowest point of retracement (Point B). Otherwise I expect price to move higher, breaching the highest high of 1.20930 (Point A) Short term shows signs of rejection around 1.17200 and 1.16100 (.5 and .382 purple fib) should be considered for long entries. Any close above 1.18650 (.235 purple level) should be eyed for breakout trades to the upside. Be cautious around the zone of resistance between 1.18650 and 1.18850. And the strong support zone from 1.17200 to 17600. Ranging trades can be considered between the two zones with valid signs of rejection. With EURUSD trading higher, Expect XXX/USD currencies to trade higher. USD/XXX to trade lower. Like/Comment/Follow TElphee! – Self-made Technical Analyst. 5-year market enthusiast with experience in Forex, Futures and Cryptocurrencies. Trading View is my trading journal. I’m posting a series of live trades and documenting them in real time. Find TElphee on LinkedIn/Twitter/Trading View Disclaimer: Oanda data shown. This is NOT investment advice.
Long
by UnknownUnicorn981629
Bitcoin_BTCUSD_Bullish Triangle formation_20K Expected.Hello Hodlums. Bitcoin price has pulled back after hitting new highs to the tune of high 19,000. I believe the pullback is related to the rise of alt coins, but that methodology is flawed since all coins seem to be hitting all time highs. Money really wants into the space, but they will need to go through bitcoin to get it. This consolidation level is also supported by lower time frame fib retracement levels. Therefor, you could expect BTC to rise with all other Alt coins. You can also expect BTC to rise when Alt coins are falling. Seems like a win-win all around. I typically HODL all my BTC entries, but I'll be treating this as a strict TRADE ONLY. The triangle formation is strong. I'll be plotting a conservative entry one of two ways - 1. If price breaks above the triangle, I will NOT be buying into momentum. Instead I'll be waiting for a pullback that confirms old support is now resistance. 2. If price moves lower, I will consider entry with evidence of rejection at the bottom of the triangle, roughly 18,300. Stop is defined below the bottom of the wedge at 17.980. T1 - 19,850 T2 - 20,800 Entry and exit will be posted. I'm comfortable risking 2% of account balance. Good Luck! Like/Comment/Follow TElphee! – Self-made Technical Analyst. Certification not held but desired after college. 5-year market enthusiast with experience in Forex, Futures and Cryptocurrencies. Trading View is my trading journal. I’m posting a series of live trades and documenting them in real time. Share your opinion, but remember we are only discussing opinions. I’m very eager to learn! Find TElphee on LinkedIn/Twitter/Trading View Disclaimer: Bitfinex data shown. This information is my own opinion and should not be considered investment advice. Please consult a professional before investing.
BITFINEX:BTCUSDLong
by UnknownUnicorn981629
3
EURUSD Short_Solid Stoploss area_What do you think?In my opinion EURUSD is overextended to the upside. I have been waiting for this move to stop out a majority of traders with close stops. However It would not surprise me if price lingers in this area for a couple days. To me, the probability these prices are temporary is worth the risk. Stoploss has solid conviction behind the high of the shoulder; 1.18820. Above this level and the head and shoulders pattern that has partially played out is invalidated (see attached post.) Entry at the break of the lower time frame consolidation 1.17837. T1 1.16754 T2 1.15771 Risking 2% of account balance. Goodluck!
Short
by UnknownUnicorn981629