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BullishAUDCHF retested broken D1 Resistance TL which now stands for mirror Support TL. Also on Test this pair has made Double Bottom pattern which gives a trend reversal confirmation. After breaking and closing above the neckline of Double Bottom Price is now retracing back and testing the broken neckline and currently market is forming "Harami" Price action candlestick pattern confirmation signal. Also price is about to get rejected from the 61.8 level of fibonacci. Once Price breaks and closes above the "HARAMI" Price action pattern im looking to long this pair. Reason #1: Retest to D1 Broken Resistance TL Reason #2: Double Bottom at retest the major TL Reason #3: Price is testing broken neckline of DB Reason #4: Test of 61.8 Fibonacci reversal level Reason #5: RSI Bullish Divergence wave Reason #6: "HARAMI" Bullish Breakout ? (Not completed yet) once it completes I will take long on this pair
Long
by jamshid1994
Another "Flag Break" on GTO/ETH making a quick 8% profitIt has been a while since our first and last trade but we're at it again with another nice Flag Break trade setup on GTO/ETH at Binance. To give you some context, the goal with our trading on our Binance account is to increase our ETH. At the beginning of this month, we started with 4.49 and after our first trade that grew to 4.8. Today we saw a quick trade opportunity on on GTO/ETH at Binance. After a huge run yesterday it consolidated on light volume and found support around 40.500 while forming a flag pattern. Trade Plan: Enter trade when the flag is broken Trade Management: 1. Entry: After flag break, above moving averages (12 and 50 on 3m timeframe) for higher probability. We missed the initial break of the flag but got in when price started running again at 45.197. 2. Profit: Usually you can take 1/3 - 1/2 of initial run as profit target/exit if you have the patience. But since we saw some big sell walls in the order book and we're satisfied with a decent quick profit, we decided to take partial profits just before the big sell walls. Sold at: 1. 47.989 2. 48.979 3. 49.769 3. Stop: -2.5% of entry, 44.067 4. Profit: 7.8% With this trade our ETH's grew from 4.80 to 5.17. Please like and share if you found this informative and helpful. Leave a comment if you have any questions. Leave you with a quote: "It's not the daily increase but daily decrease. Hack away at the unessential" - Bruce Lee And until next time, good luck with your trading.
GLong
by Trade_Masters
GBP/AUD Multiple setup opportunity GBP/AUD is inside of a symmetrical triangle formation. You could issue a scalp buy after the break and retest of the descending trend line, as it will try to reach the longer term descending trend line. Once Price reaches the primary descending trend line, you need to wait and see if it fails to break through on a 4hr time frame. In the event it does break through, wait for a retest on a 4hr time frame, after the retest confirmation issue your buy and hold for at least 50 pips.
by NEXT_LEVEL_ENTREPRENEUR
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