I think we have a legitimate shot at a bounce from here. May add at the 200MA. Tons of support here! Stop is based on a daily chart close.
I thought I'd post this very simple inside bar trade as like many traders here I'm looking for a bottom in this pair (although I appreciate this trade isn't exactly significant to the overall picture). Nice reversal today from the lows and it held the green bar low from the 18th. Sometimes it's good to keep things simple, and you can't get anymore simple than...
Up-sloping trend lines of resistance on larger time frames will often offer short periods of selling and for this reason I wouldn't short this for a long term trade unless you get a reason to do so, ie high volume reversal - this is still a strong name!. That said, I thought it was worth noting this pattern since it's only the 3rd touch of the line and with...
The DAX respected the August 8th breakout today but I think traders should take note of the bigger picture. Remember, bigger time frames will always tell the full story whilst smaller time frames will try and hustle out the small retailer. I'm giving the DAX until 10600 max. The daily 20MA should spell toast. Any daily chart close above 10806 I'm wrong. DAX should...
Interesting to see this backtest here working out perfectly. My longer term projection is bearish, todays sentiment is extremely bullish across the board so let see what happens.
The intraday channel that has held successfully since the beginning of August is about to be retested. Because of options ex this is a risky play. However, the IWM is lagging the other indices which is what we like to see. It's risky money, these are smaller companies. The 10min 200MA (expected 123.50 tomorrow and daily 20MA) is a place to start a position in my...
GBPUSD back testing the breakout. Great long trade in my opinion. Any daily chart close below the August 15th low stop out.
Bear markets always have counter trend bounces - usually lasting 2 - 3 weeks, and in many cases follow the ABC structure as presented.C