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Double Bottom in AUDUSD, Expected Rally Towards 0.78Trend Analysis The main view of this trade idea is on the 2-Hour Chart. The FX Cross AUDUSD formed a double bottom or W pattern around the 0.71 and 0.718 support areas. The resistance for this pattern is observed around the 0.7475 price level where AUDUSD recently broke above and held. Expectations are for the rally to continue, which will take AUDUSD towards 0.78. This view will be negated if AUDUSD declines below 0.7475. On the Daily Chart AUDUSD is trending higher with initial levels of resistance seen around the 0.765 price level. Once the FX Cross breaks above initial resistance, it can test the 0.78 price level. A negation of this longer termed view will occur if AUDUSD declines below 0.736. Technical Indicators AUDUSD is trading above its long term MA. The Awesome Oscillator is above 0 and green. The Supertrend Indicator is also in a bullish mode with support around the 0.746 price level. These tell a bullish story for AUDUSD. Recommendation The recommendation will be to go long at market, with a stop loss at 0.745 and a target of 0.78. This produces a risk/reward ratio of 4.35. Disclaimer The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time of publishing, I have a position in AUDUSD.
Long
by Ceddy86
NAS100 to Rally Towards 17200Trend Analysis The main view of this trade idea is on the 2-Hour Chart. The NASDAQ 100 Index (NAS100) is currently testing resistance, after declining a little over 8% in the month of September into early October. In mid-October NAS100 broke the downtrend trendline and steadily rallied back towards 15720 resistance. A clear breakout from this resistance level established in early September should take NAS100 towards 17200. A failure in this potential breakout will be known if NAS100 declines to 15260. On the Daily Chart NAS100 is making a leg higher with the uptrend intact. Technical Indicators Currently NAS100 is trading above its short (50-MA), medium (100-MA) and long (200-MA) term fractal moving averages. There have been positive crossovers on these MAs, indicating a bullish trend. The RSI is also above 50 with the KST making a positive crossover. These technical indicators are implying that the uptrend for NAS100 will continue. Recommendation The recommendation will be to go long at market, with a stop loss at 15260 and a target of 17200. This produces a risk/reward ratio of 2.99. Disclaimer The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time of publishing I have exposure to the NAS100.
OANDA:NAS100USDLong
by Ceddy86
Russell2000 Held at 2100 Support, Counter Trend Move to 2280Trend Analysis The main view of this trade idea is on the 15-Min Chart. Support appears to have held at around the 2100 for the Russell 2000 Index (US2000). This is corroborated by the US2000 crossing above its medium term (195-MA) moving average. Also the Supertrend broke above its 2146 resistance above the last trading session. When observing the technical indicators there is a unique pattern on the Awesome Oscillator (AO) and the RSI. There is positive price divergence with the indicators. The AO is above 0 and the RSI is greater than 50. It is expected that US2000 rallies towards the 2280 price level. Failure of this move will be seen if US2000 declines below 2100. The Point and Figure chart as well is showing a bullish reversal. Support is seen around 2110 and the Index rallied above its short (30-MA), medium (100-MA) and long (200-MA) moving averages. There are also positive crossovers with the short and medium as well as short and long term MAs. The AO is above 0 with the RSI trading above 50. The longer term view remains corrective for the US2000. Resistance is observed around 2185. Recommendation The recommendation will be to go long at market, with a stop loss at 2100 and a target of 2280. This produces a risk/reward ratio of 1.70. Disclaimer The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time of publishing I have exposure to US2000.
OANDA:US2000USDLong
by Ceddy86
$UVXY market hedge*This is not financial advice, so trade at your own risks* *My team digs deep and finds stocks that are expected to perform well based off multiple confluences* *Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management You NEVER want to see the market rally in a bearish market right before an important CPI inflation report. A lot of stocks are looking bullish right now, but sentiment could flip quickly tomorrow. My team will be using $UVXY as a market hedge. We entered in premarket at $12.60. Our take profit is yet to be determined but our stop loss is set at $11.50 ENTRY: $12.60 STOP LOSS: $11.50 If you want to see more, please like and follow us @SimplyShowMeTheMoney
CBOE:UVXYLong
by SimplyShowMeTheMoney
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