We have been building our position for the next impulse move down for the NZD...can this test of the trendline be the final push towards 0.7000 area? The arrows and lines doesn't mean exactly a straight move down but to give you an idea of we think price is going. -TRADEPLICITY
A-B-C-D correction, can we get wave E which would be around the $5 mark. I think we will. Buying dips would be our strategy. Remember, you don't have to leverage big to win big......Some of the greatest traders use almost no leverage when trading.... -TRADEPLICITY
Can we get the E wave before further correction? No one knows and only when it presents itself is when some would have been right and some would have been wrong. "IF YOU MAKE ENOUGH PREDICTIONS, SOME ARE BOUND TO HAPPEN." -TRADEPLICITY
Lets see if it will break this trend line going back to the beginning of the year. -TRADEPLICITY
Cup and handle formation on longer term time frames is one of my favorite setups and very high probability. One of the biggest trades we have had this year is the Cup and handle setup we posted a while back on Silver. We are seeing the same formation setup on Nat Gas and there are two ways to trade this setup.... 1....To buy the dips in the handle formation...
Two possible ways but Fridays impulse move after break of channel...has me leaning towards the anticipated test of upper channel before further correction of the Dollar. Which corresponds with our other views for other pairs and other commodities. -TRADEPLICITY "95% of daytraders lose" - Paul Tudor Jones Take a longer term outlook, use very little to no...
I am still anticipating a Final Push to complete Wave E or whatever you want to call it. But a another leg down to test the bottom of the channel. Each move inside the channel has had a some time to retrace mostly to the 61.8 Fibo level of it's last leg move as illustrated on the chart and we are sitting at similar zone of this latest move. I had previously...
I am neutral/short on Gold and anticipate a move to around 1250-80 range. My longer term outlook is bullish on Gold. I believe we are in a corrective structure and this correction could have few scenarios as outlined in the chart with the arrows. Near term short trade might be in play. -TRADEPLICITY
ABC correction underway. Our Bias is short and we will look for shorting rallies here. -TRADEPLICITY
Stick with your plan, trade your plan. News can have a major impact on a trend but it can also just be noise in an established trend or an already out of steam trend. That is our view with the GBP, we believe we might have some volatility but usually after huge drops like this pair, weeks of sideways action is followed by a reversal corrective moves and that...
BOE uleashed a Bazooka but we are still bearish for a correction before further move up. As the link to yesterdays post suggested, we might get consolidation and then further weakness or we get a test of the upper channel line. We got that and we will take the odds on. If a trade is keeping you up at night, you have too much on the line. Reduce leverage and...
We are taking the odds on at the 76.4 Fibo level for start of the C wave. Stop loss below recent low. -TRADEPLICITY Follow us for updates.
Long wicks could be a strong rejection signal. Can we test the lower boundaries? We were short this pair and adding to our short position here. -TRADEPLICITY
This setup tends to have a high probability. It's when we get 3 attempts to break recent high and we fail and form a 3 step like formation. This formation has typically given us a high probability of failure and resumption of the trend which we feel is bearish here on this pair. We have been short on this pair and this gives an opportunity to open a short...
We think we are going to see Wave C in Gold just like like in silver and 1260-1300 might be a good area for those who have Long Bias on Gold. We believe Gold and Silver are poised for Breakout by end of year or next so this is a long term view and accumulating positions on dips is our view and strategy. -TRADEPLICTY
$18.00 range is where trend line sits, prior resistance and 61.8 % Fibo line.....If we get that pull back to $18 range, it might be a good time to add to your position or start a new long position in Silver. That's our opinion. Always practice money management and don't over leverage. -TRADEPLICITY
The second shoulder sits around the 61.8 Fibo line. If this is a H&S formation, then $36 area might be a good 1st entry point to see if the formation holds. Lets see how this plays out. -TRADEPLICITY Subscribe to get UDPADTES
We see 2 scenarios playing out. 1. Another test of lower trendline and then start of long trend. 2. Price breaks above triangle channel, consolidates and start of rally. Either way be ready and keep an eye on this. -TRADEPLICITY