EliteTrader101

EliteTrader101

I'm looking for a stop run below the hammer to catch some weak longs

EliteTrader101

This was an easy setup that i shorted earlier but took a tiny profit because it took too long to move. This was a basic trap of breakout buyers above yesterday's high. I was too busying trading some other choppy markets during the big news. This should be an easy trade tonight now that we know the direction of the trend.

EliteTrader101

Buy on any pull back to a logical level as this is one of the easiest trade to take, now that shorts have been trapped.

EliteTrader101

If i was watching this at the end of May, then i could have planned this perfect low risk/high reward trade. You could have entered anywhere in the green box because it refused to fall, plus all the weak buyers were stopped out.

EliteTrader101

The levels are clearly rising so stay long!

EliteTrader101

Initially I was bearish on what looked like a H&S pattern, but it took too long to go back up so now I think the big boys are re loading longs with their HFT algorithms. It looks like they have market orders in place to buy everything when price breaks below, then they stop buying when their buying forces prices up. They let prices drift back down so they can...

EliteTrader101

Here's a low risk entry with a defined stop loss

EliteTrader101

We had a nice and slow pull back to the level where prices took off to the upside. I'm expecting prices to take off from here to new highs.

EliteTrader101

Longs have lost control of value so now we will have to look for shorts on the pull back. Look for traps at high of day or a clear rejection of the blue line.

EliteTrader101

I'm short biased on the daily and today's price action at the top of the trend line gave me the opportunity to take a low risk trade as I was able to tell that the volume came in at the upper tip of the pin bar. I'll be looking for shorts again if prices can rally back up to the source of this down move. I would like see price move in a stair case fashion on...

EliteTrader101

I'm long biased Canadian $ because of oil prices and the situation in Iraq, plus you can see the levels moving higher and staying above the previous level. I'm expecting a quick spike up to the sell zone because of Iraq in the coming weeks.

EliteTrader101

Yesterday we had a low volume test so it is now ready to test the triangle from where it broke out.

EliteTrader101

All the stops of the weak buyers have been taken on this aggressive move down into 540 level where Big Boys had resting orders. I know this because i looked at the 5min and almost all the volume came in at the bottom of the 15min bar at 540. I think this is going to 640, but has to take out 615 first. As long as price stays above 549 prices should rise quickly...

EliteTrader101

There's a clear H&S forming on the 30min and I'll be building up shorts in the sell zone as I see signs of rejection and volume spikes on the 5 min. Retail shorts are now stopped out and some have even gone long on the breakout. Big boys are now fully loaded with shorts and are ready to take it down into liquidity next week!

EliteTrader101

Price is heading back down to test the breakout level where you can look for a reversal pattern to go long. It will either break above to trick breakout traders on the inside bar before dropping or it may just break down right away from the inside bar

EliteTrader101

the pound broke out of last year's high and tested it so now its finally going to rally hard after 5 years of accumulation. On a yearly chart, last year was a low volume pin bar back into a high volume absorption bar so all the supply is out of the market and is ready to rise with very little resistance.

EliteTrader101

This was a clear setup to go long at 52.

EliteTrader101

I was watching this earlier in the year, but had forgotten about it until today. Not much resistance on the left so it should keep on rising and pausing at each level.