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BCT/USD LONGBitcoin is clearly in a fantastic setup for long positions. It is being held by the 0.786 fib level, and if you trace it back you'll notice that prices had faltered around this area in the past. Now would be a solid entry point into a mid-long term buy. However it could still continue lower to the next support zone. Once BTC breaks the descending trend line prices will surely go higher. Prices will most likely slow down around the blue horizontal line of resistance, but the breaking of that line will only strengthen the upside potential of the upward movement.
BITFINEX:BTCUSDLong
by NEXT_LEVEL_ENTREPRENEUR
Gold (xau/usd) short position swing tradeHi everyone. Today's call is on gold which has shown weakness in the last week and I expect this weakness to continue in the following week. The Uptrend which started in mid january of this year was broken in the first week of october as you can see on the chart, Price is now consolidating as it retestes the 200 day ema. There might even be further price corrections to the upside as the orginal uptrend continues to los its remaining power, this could result in the formation of a J hook pattern. My personal sentiment is bearish or neutral as long as price stays below 1320. The following is the sell position entered: I will Enter to sell wehn price reaches 1246 Stoploss at 1282 target profit 1 at 1205 target profit 2 at 1152 Editing the trade: Once the trade is live wait for target profit 1 (1205) to get hit, In which case I will exit half the position and move the stoploss down to Breakeven. If there is clear momentum and volume which shows consistancy in selling preassure I will wait for target profit 2 to get hit. If however the price gets choppy and volatile after hitting target1. I will further tighten stoploss to 1235 or exit the trade if momentum moves higher and if the patterns at that time indicate price moving up.
FX:XAUUSDShort
by yashp1
1
Medium term bullish position on USDJPY #swingtrading #forexHi Everyone. This is a complex one. There may be multiple opportunities to make pips on usdjpy in the coming months. I have drawn the white line on the chart considering a few factors:.. 1. The current downtrend on the daily chart seems to be a simply correction of an uptrend on the weekly chart., 2. The Momentum of the downtrend on the daily chart seems to be drying up and starting to reverse., 3. The 20MA has crossed above the 50MA indicating further change in underlying momentum, which is not fully visible in the price action., 4. Price is moving towards the 200EMA.,... Taking these factors into account I am thinking of the following outcome. If and Only If price moves above 106.15 will I consider usdjpy moving higher to touch the 200ema. If price breaks through the 200ema it will most likely come back for a retest the 200ema before legging higher to continue the long term uptrend on the weekly chart... The upcoming US elections as well as a weaker Japanese market can bring forth this change in direction over the next few months... I'll be looking at the following zones of support and resistance (with a buffer of 20 pips).... 106.4, 107.5, 111, 114. 116, 121, and 124..... I think there will be a very good opportunity for swing traders on usdjpy in the months to come... Remember not to take big risks, not to over leverage, and manage risk well. I will not be entering a single long position on usdjpy until price moves above the 200ema As Always trade safe ... This is not to be considered investment/trading advice. You take full responsibility for the any action taken and any loses incurred.
Long
by yashp1