RicksTradingRoom

RicksTradingRoom

I've been long the GBP AUD for a while and its been working well. I will basically strip all TA right down now and say just buy a break above or a break below (weakness). Get a good stop somewhere out of the way, minimise your risk and hope for the best. The range may widen in the short term but ultimately the outlook now for the GBP AUD is very much up. Go...

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I have decided to bring my entry down from 206598 to 206078 as it will give me a better placed stop. By doing this i have increased my R from 2:1 to 2.2:1 Our limit order underneath the range did not get hit - but I will leave it in my place until my buy stop is triggered. Then take the buy limit off. Other than that everything the same trading towards 208461...

RicksTradingRoom

I would also say that I have put a small pending long order on a break below the range here. I have no argument to be short the GBP AUD in the context of the current Macro Economic climate, so any trades I try will be longs. Usually i risk 2%, in this case i might just expose myself to 1%, however if it does bounce and comes back inside the range, the case for...

RicksTradingRoom

Winning or Losing with your trading strategy is largely irrelevant. Always be sure to keep the losers small and if you do find a winner, to push it (if you can). Be sure not to take profit too early but run it to your target. I have been long on the GBP AUD since the end of February - and see potential for some more upside in the coming weeks and months, Of...

RicksTradingRoom

Step 1. Identify the prevailing trend (in this case I think NZD CAD is headed lower) Step 2. Try and put price into some sort of range (in terms of outer and lower limits) - Areas that wicks might get to. Step 3. Look for opportunities where we can sell a rally but not be too aggressive. Step 4. Find some confluence zones with Fib levels, Moving Averages and...

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Whilst the argument is strong for a weakening Dollar longer term. (perhaps) It looks like at the moment the DXY is having a retracement (which may last until early Feb) The bearish scenario could play out here with a solid rejection from the downward sloping TL. Or invalidation and continuation of the trend if DXY manages to break above (and hold) the 107.013...

RicksTradingRoom

I think Gold is in a clear downtrend (in spite of BRICs) and the move up is just a short term rally. I would try a short here with stops above the 1950 level, looking to sell in the area of support.

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Possible long in place after nice reversal pattern playing out. With the break above the 200, should be some room to move to the upside

RicksTradingRoom

I might try a long down here if it holds the 38 fib. target the top resistance With a stop somewhere below the bottom of the flag.

RicksTradingRoom

FIB + Pitchfork + TL + Channel. Will we see a 240K Btc in 12 months?

RicksTradingRoom

I'm by no means a pro trader, just learning as I go and trying to implement so feel free to add to my TA, or offer any sort of commentary. I try to map out the previous price history (see the levels) Get an idea of how it responded (breakdowns, consolidations, re-tests, bottoms, tops, traps) See how price momentum is slowing down. Looking for it to form a...

RicksTradingRoom

If you had been accumulating in the buy zone Should be ready now for a move to the upside. SL set below the trendline break. TP below the fib level (in the resistance zone)

RicksTradingRoom

We've done wave 1 and wave 2. Back in Bargain Buy Zone Accumulate & nibble away at the market, buying little bits here and there over the next couple of months

RicksTradingRoom

Just a possible scenario for BTC. Part of a massive massive wedge..

RicksTradingRoom

I see a descending triangle... What are your thoughts?

RicksTradingRoom

Cup and handle formed over the month. fib levels 1.618 give 2000 trendline projections 2000 distance of cup - moved to the end of the handle also gives 2000. let's see how we roll...

RicksTradingRoom

Flipped bear on TFUEL. How cheap can we pick up the fuel?

RicksTradingRoom

Was the breakdown a fakeout? We've bounced back above the 50K and moving up. targets on the wedge 78-79K USD? thoughts?