Humble yourself and come to realize that: 1. Nothing is on YOUR time 2. You don't know everything 3. You cannot win every single trade Most traders struggle in 1 or all of these areas and thus it stops them from actually progressing forward. Pride cometh before the fall.....
EURGBP H4 Off the back of the resumed GBP strength, I feel we could see a break and close below our current support zone of 0.88300. Waiting for this closure is important, a clear break and close below followed by a subsequent retest and resisted price at 0.88400 could set us up for potential shorts.
GBPCHF H4 - Broken resistance price of 1.19, quite a big price to break, currently looking to retest as support to confirm a change in s/r, this would effectively act as our buy zone pending PA confirmation, slower moving pair, we can hold out for candle closure for that extra bit of certainty.
GBPCHF H4 - Same reasoning for EG shorts, fundamentals spiking GBP and market volume comes into play and EUR/LON markets react to weekend headlines. Still best practice to let the dust settle after such an opening. Personally like to let London morning do it's thing before looking to scout any trades out around NA/LON overlap time.
🎈 Given the absence of important fundamental statistics today, the pressure on the euro was also limited in the first half of the day. After an unsuccessful attempt to break below the monthly lows, the pair returned back to the opening level. 🔑 From a technical point of view, nothing has changed. Bears will continue to focus on breaking through and fixing below...
Gold is looking like it will fall back to the 1500$ baseline at least, from here we can either break support and head down to the sloping daily trendline or bounce back up. Either way has good trading opportunities, all we need is some energy in the markets. Stay Green.
Hi Friends , breakout on daily time frame on AMEX:CQQQ . Look at the breakout with the Green candle peeping out of the triangle formation. RSI and ADX both showing strength (DM crossover the DM- but ADX still weak, but looks like gaining strength. Watch out for possible retest of the newly found support line ( earlier resistance line) for a possible throwback...
My chart from a few days ago on the 4 hour is still in play. I'm sticking to my positions. Please, if you are unsure, do not take my word for it. Do your own research before making ANY investment decision. YouTube: Dumb Money Trader twitter.com/dumbmoneytrader facebook.com/dumbmoneytrader (I don't boot people for opinions or satire... political or...
Let me clear some things up: I am not a day trader. So, my charts are what I see from a swing trading perspective. I look for opportunities that might not play out today, tomorrow, or even next week. Rather, I look for opportunities that I think might play out anywhere from today to a month (or a little more) from now. Not long term, but short to mid-term... I'm a...
Trade talks are in progress, USA will use talks to tighten its tariffs, to pressure Chinese, etc.
Check out my analysis on this chart via YouTube at Dumb Money Trader Trade talk meeting in Washington D.C. this week. Big week for SPY. Stay tuned and keep your eyes and ears open for changes. Might be a volatile week.
Check out my YouTube channel: Dumb Money Trader www.DumbMoneyTrader.com
Here's how I'm trading SOXL right now. I buy when it gets below the red channel and sell when it gets above the red channel. A breach of either of the blue trend lines would indicate a breakout from the current trading range. So I'm keeping a stop loss just below the lower blue trend line. Today I exited at 170, and my next buy order is at 152.50. I hope to see...
Continuing on from my last analysis - we have now seen the break and re-test after we made a gap in the market, so next we wait to see what price action does. We have US GDP news this week along with continued trade talks. I would expect to see more consolidation until Thursday.