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Do we pick a bottom? Trade Plan Falling Wedge 21 JanEnvironment * Macro: Downtrend (falling wedge, short resistance, look for test of support of wedge. * Swing: Eyeing daily support for possible bounce. Look for continuation and signs of weakness, we might get a bounce now some leverage is flushed out and whales filled their belly. This could mean the whales that missed out still need a small nudge down and we consolidate for a few days or we go back up. Don't rule out dead-cat bounce to top of falling wedge. * Day: possible reversal (look for day longs when approaching lower levels on divergence, VPFR & golden ratio, or continuation signs) * Scalping: bull flags on lower timeframes with MA and vwap 1-12m Top down analysis: 07:20 UTC+1 * D: Money Flow deep in the red, RSI's low, VWAP down, Stocastic about to cross, volume rising. Divergence possible, but unconfirmed. Bullish outlook, bounce on important daily level and close to macro falling wedge * 12h: same story as D, Bullish outlook * 6h: vwap pointing up, after big dump divergence is stil valid but needs a push up, RSI stronger than yesterday bouncing very low below 10 , volume spiked on the way down, potentially a flush out of weaker hands, neutral outlook, we have to hold daily support or HVN below. * 4h: very big divergence showing, we need big downside continuation to not get a juicy div. Q: Will it be dead cat or continue? Work both sides of the book. * 2h: momentum curving for a div 2h bounce, bull volume clearly defending bears, vwap and money flow too RSI very low * 1h: no div but very low RSI, VWAP working its way up, green dot selling pressure has stopped * 3-24m: most lower timeframe divergences have played out. I’m looking for one more to get some big swing positions. A bounce back on the daily or a bit below on the HVN would pick a great bottom for now!
Long
by Arko87
1
Your only as good as the assets you tradeThis is just a short blog post of a much longer idea! In a recent post we spoke about focusing only on assets that are in play for the day, even tough with day trading you can still make solid profits, especially on the tick charts, trading ranges, a trend will generate you much bigger and more importantly, easier profits. This is why it is vital to focus on assets which could generate momentum, because at the end of the day in day trading you are only as good as the assets you trade. Below you will find a chart of NASDAQ (left) and a chart of XAUUSD (right), one has moved significantly upwards while one was stuck in a whipsaw range which ended up breaking to the down side towards the end of the day on December 31st. Choosing to trade XAUUSD would be much easier to make a profit.
OANDA:XAUUSDEducation
by PrimedGroup
3
XAUUSD DECISIVE AREA This pair is on a decisive area now. Such area is very volatile to trade but at the same time it could be an opportunity also for traders. As per DOW its making LL LH and in order to break this it has to give closing above the previous LH which is around 1790 at the same time it could retrace back to 1763 and then targeting towards 1750 for new LL. The Ichimoku red cloud is still above while lagging span below which is favoring the bears . However as per Renko strategy with traditional settings it indicates a bullish move along with breaking a parallel bearish channel towards upward, one brick already formed above the channel. On Daryl Guppy both investors and short term traders have merged in between which again means a decisive area as both the long and short MA's are colliding. For hardcore traders it could potentially be a nice hedging setup and they can scalp as well. New comers kindly avoid this area. On daily- kinda inverse double top is formed also On weekly bullish flag is formed On monthly Cup and handle is formed For those who missed last week trades they could follow both the trade plans i have shared . Trade with discipline and without emotions. Get yourself numb of the gossips :) For $1000 account use 0.02 - 0.5 lots and make sure to trail the SL always to recover losses and maximize the gains. Have a safe trade ;)
OANDA:XAUUSD
by MilestoneInvestments
2
EURUSD Trade Plan for LongOANDA:EURUSD Bullish indications 1- HH & HL 2- Bullish Engulfer 3- Bounced from weekly support at 1.11934 4- Retracement from 0.5 Fib level 5- ABCD pattern is in formation Plan A below is given for long. Plan A Buy at 1.12929 Stop loss 1.12547 Target1 1.13677 Target 2 1.14252 But for plan B, wait for confirmation of continuation of downward trend Please comment below for any suggestion, follow and support the idea if you like it. Thanks and good luck for trade
Long
by yousufrz
USDCAD Bearish Outlook OANDA:USDCAD Bearish Indications Hanging man followed by shooting star in Resistance area at 1.27890, Possible Double top from resistance area. Bearish Divergence is seen. Bullish indications Higher high & higher low. Broke 1W resistance above 1.27516. May continue bullish trend only if sustained above this area So I am long biased with two trading plans mentioned on charts Please comment for any suggestion, follow and support the idea if you like it. Thanks and Good luck for trade
Short
by yousufrz
2