USDJPY broke out after a strong move to the upside and is currently at resistance at the 112 level.
I believe this is a false breakout and expecting it to fall close to the 110.5 level.
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As bug name company's such has CGC and ACB continue to fall it's a great time to enter short or buy puts. Looking for a strong move down to the $14.50 mark and then scaling out 75% of my position. Looking to make more profit on the remaining 25% of my position and exiting at the touch of the middle bollinger band on the daily chart off of a bullish move.
Recently closed my long position on MFST due to nearing the end of this ascending wedge
MSFT-
Ascending wedge is coming to an end.
Price position in wedge is closer to breakdown point (support) than breakout point(resistance).
Multiple gaps close enough to fill down.
Almost no volume today on MSFT, very similar to SPY which I entered short on.
Bullish trend...
As ACB continues to fall it finally gapped down below the $3.50 support where it has been for over a month.
The last time the stock was this low was in 2017 and expect it to continue lower.
This resistance has shown time and time again to be a great time time to enter short.
With the RSI north of 80 and the MACD histogram about to turn negative this is looking like another great short setup.
AAPL is at all time highs just reaching the 1.414 level on the Fib retracement and bearish butterfly pattern. With the RSI nearing 80 and MACD also extremely high expect a large correction soon. If it doesn't come at the 1.414 level expect it near the 1.618 level. This setup is looking very similar to it's crash last year. The stock could lose 15-20% of its value.
KCG bounced off the 1.414 support of the fib retracement. The MACD bottomed out and turned bullish making this a great setup to enter long.
Holding profits until $5.15 right beneath the 0.786 level on the Fib Extension and then scaling out 75% of my position for a 20% gain. Leaving the other 25% to run near the $5.50 resistance
Using the fibonacci retracement expect HD to bounce at the 0.786 level at about $225. This is a high percentage setup and support has been shown at this level before.
