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Trendfollowing

USD/JPY: Corrective pullback13:25 GMT - The anticipated exhaustive run towards the 106.00 Fibonacci retracement has given way to a pullback, as unwinding intraday studies prompt fresh selling interest and push prices below 105.00. Overbought daily stochastics are also unwinding, and the positive Tension Indicator is turning down, highlighting a deterioration in sentiment. Focus is on 104.50/58, with a further break opening up the 104.20 retracement. Meanwhile, a close above 105.00, if seen, would turn sentiment Neutral and put prices into consolidation below 105.50.
Short
by Continuum_Economics
USD/JPY: Corrective pullback08:40 GMT - The anticipated exhaustive run towards the 106.00 Fibonacci retracement has given way to a pullback, as unwinding intraday studies prompt fresh selling intraday and push prices below 105.00. Overbought daily stochastics are also unwinding, and the positive Tension Indicator is turning down, highlighting a deterioration in sentiment. Focus is on 104.50/58, with a further break opening up the 104.20 retracement. Meanwhile, a close above 105.00, if seen, would turn sentiment Neutral and put prices into consolidation below 105.50.
Short
by Continuum_Economics
ETH - Trend-Following Buy Setup!Ethereum broke its previous ATH. WHAT NEXT? ETH is overall bullish trading inside the orange channel so we will be looking for Trend-Following Buy setups as it approaches our lower orange trendlines. Knowing that Ethereum can still trade higher aggressively from here, without us on board. Moreover, the area 1450-1500 is a "Resistance turned into Support". So the highlighted purple circle is a very strong area to look for buys setups as it is the intersection of a support, previous ATH and lower orange trendline. As per my trading style: I will be waiting for it to approach the lower trendline to look for possible buy setups (like a double bottom , trendline break and so on...) Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BITSTAMP:ETHUSDLong
by TheSignalyst
135
USD/JPY: Strong resistance at the 106.00 Fibonacci retracement13:45 GMT - The anticipated test above the 105.50/68 barrier has reached 105.77, where unwinding intraday studies are prompting short-term reactions. There is potential for a run towards the 106.00 Fibonacci retracement, but overbought daily stochastics are expected to limit any immediate tests in profit-taking. A short-term pullback is possible, but rising weekly charts should limit losses to the 105.17 high of 2 February and congestion around 105.00. A close beneath this area, if seen, would delay further gains and turn sentiment outright Negative. Subsequent focus would then turn to 104.50/58.
by Continuum_Economics
S&P Only Just Scrapes A New Record HighJust a week ago traders were experiencing high emotions as the markets experienced its regular pullbacks but now price is proving how resilient it is by continuing to create new record highs. Since November 2020 when a previous all-time high was broken at $3588, price had been on a gradual rise using the 20 simple moving average as support but the most recent pullback came down to the 50 simple moving average which gave price that much needed boost. This proves yet again that price should be the main focus and not the news which was recently focusing on the market declines. Once you have the technical aspect in place and are able to identify major levels of support and resistance then you will be miles ahead of other traders and investors. Although price has only just about scraped past the previous all-time high, the markets remain bullish and should continue to rise until there are strong indications to prove otherwise. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading
Can Gold Catch Its Momentum Again?Gold was looking strong at the start of the year after having bounced off the daily 200 simple moving average in December. It did appear as though the bullish momentum was going to push price up towards the all-time high at $2075 but the sellers are making this task difficult right now. We have to remember that price is in an area of consolidation so the constant up and down swings are to be expected and although price has moved below the 200sma again, there is a support level below that could keep price from falling any further. This support level was formed from the November 30th 2020 low at $1764. Should price break down below this level then we may see a decline in Gold all the way down to the weekly 200sma which is currently at $1449, not too far below the $1500 round number support. Patience needs to be applied with Gold because it has the tendency to move sideways for long periods of time and then suddenly jump into action so we will be keeping a lookout for any progress being made. If price makes a swift return back above the daily 200sma then we may see a resumption of the long-term bull trend. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:GOLD
by Sublime_Trading
EUR/PLN: Scope for lowerNo change in the bearish FX_IDC:EURPLN tone, as falling intraday studies keep near-term sentiment negative and extend pressure on support at the 4.4950 Fibonacci retracement and congestion around 4.5000. Daily stochastics and the Tension Indicator continue to fall, and broader weekly charts are also deteriorating, pointing to potential for still further slippage towards the 4.4650 retracement. Meanwhile, resistance remains at 4.5200. A close above here, if seen, would turn sentiment Neutral and put prices into fresh consolidation below 4.5500.
by Continuum_Economics
SILVER - More Precious Than Gold?Hello everyone, if you like the idea, do not forget to support with a like and follow. SILVER is overall bearish trading inside the brown channel, and it is currently sitting around the upper trendline, so we will be looking for trend-following sell setups. SILVER is overall bullish from a short-term perspective , trading inside these two gray trendlines. So to consider selling Silver, the price has to form a third swing low around the lower gray trendline to consider it valid, then and only then, the reversal setup would be ready and confirmed after a momentum candle-close below the last swing low (gray area). Trigger: Waiting for a momentum candle close below the gray area to sell. Meanwhile, until the sell is activated, Silver would be overall bullish and can still test the supply and strong round number 30.0 in green before going down. And of course, as Silver approaches our lower brown trendline and round number 21.0 we will be looking for buy setups on lower timeframes. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
FOREXCOM:XAGUSDShort
by TheSignalyst
58
EURUSD - Trend-Following Setup!Hello everyone, if you like the idea, do not forget to support with a like and follow. EURUSD is overall bearish trading inside the brown channel , and it is currently sitting around the upper trendline, so we will be looking for short-term trend-following sell setups. EURUSD is forming a trendline in blue (but it is not valid yet) so we will be waiting for a new swing low to form around our lower trendline to consider it our trigger swing. (projection in purple) and then and only then, the reversal setup would be ready and confirmed after a momentum candle-close below the last swing low (gray area). Trigger: Waiting for a momentum candle close below the gray area to sell. and until the sell is activated, this one would be overall bullish and can still break the channel upward. Good luck! ~Rich
Short
by TheSignalyst
59
BITCOIN: Possible 2H trend resumptionThe chart focuses on the 2H ATR trend line. Bitcoin was in a 2H uptrend. The trend weakened and corrected in a 2H pattern. Now it seems to be resuming. The position is ripe for a short with a reasonable stop-loss, at your own risk. If you cannot take the loss, do not enter! This is a true trend following setup. No targets are possible. Stops are somewhere above the ATR line. Disclaimers : This is not advice or encouragement to trade securities on live accounts. Chart positions shown are not suggestions. No predictions and no guarantees supplied or implied. Heavy losses can be expected if trading live accounts. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
BITFINEX:BTCUSDShort
by Captain_Walker
EUR/USD - Downside Continuation!! - Price is currently getting squeezed between my moving averages. - Top side trend was respected and fell from that level - Trend line plotted from lows also shows a break in trend. - Price formed a head and shoulders pattern that broke out to the downside today. - Price has retraced back into the 50 - 61.8% retracement level of todays range. - Looking for the large wicks at the on the recent 4H candles to get filled to start the momentum to the downside.
Short
by TheCaffeinatedTrader
1
AUDCAD - Trend-Following Sell Setup!Hello everyone, if you like the idea, do not forget to support with a like and follow. AUDCAD is overall bearish trading inside the red channel, and it is currently sitting around the upper trendline, so we will be looking for short-term trend-following sell setups. Unless price breaks our upper red trendline aggressively, then we will be looking for new sell setups to form as it approaches the upper blue resistance. AUDCAD formed a valid trendline in blue so we will be waiting for a new swing low to form around it to consider it our trigger swing. Trigger: Waiting for a momentum candle close below the gray area to sell. Good luck!
Short
by TheSignalyst
38
USDTRY Gearing Up For Another Impulsive Move?USDTRY has not been shy when it comes to showing off its linear trends as we witnessed staggering growth of 89% in 2018 and 44% in one month alone in August 2018 reaching a high of 7.0831. Price consolidated for 2 years after that and broke out in August 2020 and went on to trend to a high of 8.5777. Price then went on a decline and is currently sitting at a cluster of support in the form of a previous resistance level turned support at 7.2682 and the daily 200 simple moving average. Price is currently walking up the 200sma and if this level continues to hold as support then we should eventually see the bulls force price back up to continue the trend. USDTRY does reward investors that have patience as the trends, once they come, usually arrives with force and delivers fast and healthy profits. We will continue to monitor this forex pair to see how price reacts to its current support base. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
by Sublime_Trading
Bitcoin Taking A Short Break?Many would have argued that Bitcoin was never going to exceed the previous all-time high set back in December 2017 just under $20,000 because nobody really expected it to even get that high in the first place. The fact is that price came near $20,000 but then experienced an 85% decline to a low of $3122 a year later in December 2018, so the odds of climbing that high again looked even bleaker. We always remind our members that price will do what it wants and we can never predict what will happen next. We might get lucky a few times, but to predict consistently is impossible because a lot of different factors drive price up and down. $10,000 held price down for a number of years and acted as strong resistance until price was able to finally clear that level and a previous resistance in October 2020. From then on the momentum has been pretty much bullish as it continues to break records. Currently, we are experiencing consolidation which was to be expected after such strong moves but there is support below price in the form of the 50 simple moving average. At the time of posting, price is starting to show strength once again and we want to see price push its way above the $40,000 round number followed by the recent all-time high at $42,000. We only have a small portion of our capital invested in cryptocurrencies due to this market experiencing a lot of volatility, but these positions are doing well and did require a lot of patience and may require some more if we have to go through more large swings in the future. As for now we just have to hold on while the trends continue. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
BITSTAMP:BTCUSDLong
by Sublime_Trading
SPX500 UP and USD down again? Hey tradomaniacs, for today I`m looking at the correlation of DXY (US-DOLLAR) and SPX500, which are both at points of potential trend-continuation. As mentioned on telegram we have seen a very bearish sentiment of retailers of majors against USD, which is for me a strong reason not to buy the US-Dollar as long there is no fundamental reason. As soon as SPX500 continues its trend we can expect the US-DOLLAR to move down aswell, which would give us a great chance to buy majors such as AUD/USD, NZD/USD, GBP/USD and EUR/USD against the retailers sentiment and with the banks. Still waiting for confirmation! LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me
OANDA:SPX500USD
by Trading2ez
3