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Bearish rising wedge on CORN after the extended runOn the daily time frame of CORN, there is a nice looking bearish rising wedge. It has been a quite a run and now it has gone up too quickly. RSI is reading extreme over bought. PPO is poised to make a bearish high level cross over. Also, when it falls back into the price channel, it will be very bearish as it will be a bull trap. I entered long $11.60 range so it's time to take profit and reversing to short. Long term bullish but short term bearish.
AMEX:CORNShort
by TK0421
ETCUSDT to the moon!!! Or somewhere along the way...ETCUSDT Trend trade Supply block around 6.69 Waiting for price to come back to trend which lines up around 50fibs and also previous low wicks - bounce off here will give me 3 confirmations to long Stop below 61.8. I realise the current structure calls for a bigger stop however I believe as it comes back to the TL more structure will be created and as long as that stays above the 61.8, I'm still long and it will support my stoploss area. If it dips below and my stop needs to be too wide, I will think twice about taking this trade. Target would be just under supply block as previous attempts to the block have failed to touch it 4 take profit areas along the way - will close trade early at each TP area if it looks like it’s running out of steam Somewhere between 4-8 days to play out maybe
Long
by TradeTravelChill
1
EURJPY Daily Analysis 11/23/19EJ Short idea This pair is very similar to AJ, they are both very bearish on higher time-frames and have been reacting similar in regard to levels of confluence and rejection of significant monthly resistance. EJ currently retested broken monthly support (now resistance) and has shown significant exhaustion and bearish setups. The only close major support for this pair is around 119.500, if this level is broken we’re looking for it to drop toward the trendline around 118.500. Once the trend line is broken a retrace is likely but ultimately we will look to target toward our next major support level around 117.000. If the bearish trend remains strong look to enter on lower highs, fib levels and strong bearish setups all the way down to our monthly support around 116.000.
Short
by ForexLeague
NZDCAD BEARISH CONTINUATION TRADE SETUPHi Traders, The NZDCAD reversed from a weekly descending trendline that lined up with horizontal resistance level and made an impulsive move down "Wave W," which broke out of ascending trend line and support level. . This pair has retested the broken zone and seems to have completed building bullish ABC FLAT corrective chart pattern "Wave X," which could indicate a continuation of the downtrend. . Considering that we have a triple top pattern and bearish rejection candles on the daily chart further confirming the short bias, we will wait for the break out of the blue CTL for a conservative short entry. . The take profit level is the descending channel support that lined up with the horizontal support level as projected on the chart. . Wish you all a successful week ahead, Veejahbee.
Short
by Veejahbee
EURJPY SHORT TRADE IDEA UPDATEPrice violated the previous trendline in which price is rebounding from in my earlier post. Now the price has reached a significant level, and we are observing some bearish price action at this confluence level which consists of 78.6 fib ratio, resistance zone and 3rd bounce of descending trendline. We only need a valid confirmation (breakout of Counter Trend Line) to take advantage of this setup. Hope this is helpful, keep an eye on it. Follow @TheKissForex on Instagram for more Forex setups and tips.
Short
by Veejahbee
GBPAUD H4 - BEARISH CONTINUATION SETUPAs you can see from the chart, we are in a clear bearish trend. Price broke out of ascending trend line and support zone and made a new low. Considering that price has retraced back to the confluence zone which comprises of Resistance level, 50% Fib ratio, mean value, and potential 3rd rejection of descending trendline. We will able to go short on this pair after a proper breakout of the bearish counter trend line. Note: Support 1.7927 is very critical, we should watch out how price react to that level after the breakout of the CTL. Take profit zone is -27.0 Fib extension or support 1.7640 area. Follow us on Instagram @TheKissForex Thanks for reading.
Short
by Veejahbee
Plus 500 Ready To Make A BreakThis stock is featuring for the first time on our TradingView blogs. Current setup: Price is hovering around the resistance level, struggling to break above it. Conclusion: Once we see price continue to move above the resistance level, we will look for long opportunities but we will be standing aside until that happens. Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments! Sublime Trading
LSE:PLUSLong
by Sublime_Trading
Learn how to do a trend continuation trade, with Benny Manieri!Hello again friends, Deciding what kind of trader you want to be is important, so you're not bouncing all over the place. Having said that, learning different ways to trade can add an important weapon in your arsenal against the markets. I'm a counter trend trader at my core, but my trading plan has a provision when the maximum profit vs risk presents itself in the form of a trend continuation trade, a specific filter allows me to attack the market in this fashion. What this may look like in your trading plan may be different. Every trading plan is personal. Personal as the Preparation H on my fingertips now sticking the keyboard as I type. Here, we see that NZDUSD has been in a well-established downtrend on the hourly, my trading time frame. I bounced out to a four hour, my higher time frame, and drew in some thin red horizontal support lines. These are places that price has touched at least 3 times on that higher time frame. We see that we are sitting on a spongy area of support at this time, and it will be important to see how the market behaves heading into the Sunday open. Unfortunately around that time, I will be too intoxicated after Sunday afternoon football to pay attention to this, but have at it guys. We will look for a retracement from current price action, up into the .382 at least for us to begin to be interested. We see a fib confluence area consisting of fibs from the current and last swings lining up with structure. (Pink zone) Nice nice. One price action does something interesting up there, such as RSI overbought with a lower low lower close candle, kangaroo tail, something to indicate it will reverse, a market buy with two contracts is probable. Stops go at least 1 ATR above the most recent swing high. Target one is back down at previous structure. Once it's hit, stops on the second contract are rolled to break even. The second target is at the 1.27 extension, if you've got the balls to hang onto it. Benny Manieri
Education
by BennyManieri