CCI overbought @ 100 9 April 2020 - Potential Short Setup Entry at previous day low - 1 bid Stop loss at previous day high + 1 bid
Nicely following the 10MA downward trend. Look out for opportunity at CCI(5) overbought. Watch outs: Earnings report @ 22 April; likely to be pessimistic. Landlords will likely to reveal cautionary projections on dividends. Entry @ previous day low - 1 bid Stop @ previous day high + 1 bid Potential risk reward 1.5
CADCHF follows a channeling structure. Price break below channel for the past two 4H candlesticks, touching bottom of BB band and narrowing. Potential short only after break below support line.
In flip zone territory, staying out AUDSGD for now. Strong price rejection above 1.075, hard to place a stop above this level. Looking out for more signals out of this flip zone.
GBPJPY on 4H is trending down nicely within a channel after a head and shoulder formation. Today's largest rally after June 2016 came after Theresa May's speech on exiting EU single market. Unless we see a break above the minor resistance of 141.54, my outlook for the short term is downward trend.
USDCAD has been consolidating below major trend line since 11 Jan. Looks like rising wedge is forming and potential short opportunities arises as it breaks below the wedge. There is a sharp price rejection below 1.30 (olive oval) in the early hours of breaking below major trend line, signaling short-term bulls taking over for a cheap buy. Let's see how the next...
Over reaction from the market? Price has been transversing within the pitchfork range over the past week, today's APPL disappointment brings price closer to the bottom of pitchfork which also presents an opportunity for LONG if price remains above 18054 I look to long at 18092 closer to end of trading day with a SL @ 18054
Potential long opportunity once we find support at 1.222 or at daily pivot support. SL to be set @ 1.217 area (weekly support)
1) Support has become resistance 2) Declining Volume 3) Strong stochastic sell signal - stochastic > 80, %K crossover %D 4) Q1 earnings in 2 days - slower growth expected Trailing stop once I enter 0.5R profit zone
1) Stochastic overbought at the moment, bulls are taking partial profit after hitting resistance level of 85. 2) Likely to retest resistance ahead of earnings call in 2 weeks. 3) A break above resistance of 85 will provide stronger bullish signal and overall sentiment for BABA
1) Stochastic Overbought at the moment, bulls are taking profit at this zone after hitting resistance level of 85. 2) Expecting some easing in the next few days before a retest of resistance 3) Mid-term bullish and looking out for major break above resistance level of 85.