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Gold [1-3 days view]Short Gold Entry: 1291.50 SL: 1303.40 TP: 1247.75 Global markets are currently in a risk off environment given the recent trade-war escalation tweets by Trump. This also is in line with safe-haven currency such as JPY outperforming this week. Technically, market reacted below long term descending trednline resistance. Price is also currently testing what I would call the natural MA of the market. MACD shows a bearish crossover, however, do note that it is still within bullish territory. Update: Trade was triggered overnight, and market has moved quite a bit as expected. I've trailed my stop loss to protect the trade and some profits. This trade is now risk free.
FOREXCOM:XAUUSDShort
by laughingchartist
AEM Holdings (SGX)Market drop in progress towards Trend level at $1.00/$0.97 region. After which an intermediate bounce is expected. Market reacted below desceding trendline resistance RSI (21) reacted below 53% resistance level and has entered bearish territory below 50% level. RSI (21) 53% resistance level is also where price has reacted many times in the past, as seen by the yellow arrows. Buying area finds confluence with fibo retracement and strong supply and demand level. Just an educational post to show how a confluence of technical elements can give a good trade with much higher probability. Also, because there is no good risk reward to this, I'm posting this as an educational material.
SGX:AWX
by laughingchartist
Gold [1-3 days view]Short Gold Entry: 1283 SL: 1287.77 TP1: 1273.75 TP2: 1260.75 I expect a Gold to drop. Market close to descending trendline resistance. RSI also testing descending trendline resistance. Market has reacted below this resistance multiple times in the past (shown by yellow arrows). Long term, market within a descending wedge pattern. Market however is still holding above it's short term natural EMA. Once this EMA is broken, we should see a higher conviction of a deeper drop.
FOREXCOM:XAUUSDShort
by laughingchartist
Unusual (1D1 - SGX) [1-3 weeks view]Long 1D1 with low conviction Entry: $0.285 SL: $0.270 Market is forming a possible double bottom reversal pattern. Only when price surpasses $0.330 will this reversal pattern be confirmed. $0.330 is also a strong resistance level found twice via: - Descending trendline resistance - Double bottom neckline Should market break above $0.330, we can expect to see price rise towards $0.395 which is both 0.618 retracement level and a probable wave 4 target.
SGX:1D1Long
by laughingchartist
Forget Bitcoin and watch this textbook TA!Away from the action on BTC and the S&P500, I'm making big profits on hidden gems, like this UK stock. A classic TA inverse head and shoulders setup! Straight out of the dusty textbooks. Strong volume on the left shoulder and weak volume on the right shoulder, just as it should be. I bought just above the breakout line. The breakout is clean, retests to a perfect level and then takes off like a rocket! Beautiful. (and highly profitable).
PEducation
by GlenGoodman
7
Quarkchain Overnight (8-10 hour buy)Closing triangle pattern could indicate a breakout shortly. Currently the ROC & MACD Oscillators are indicating the same pattern as the price trend (upwards), therefore convergence...a buy signal. MACD line cross above the Signal line as well as the ROC point upward are both buy signals. Let's see how this over night trade would play out. This is just charting practice for me. I'm not in this trade nor do I recommend it. Just want to see how it plays out.
QLong
by arneldurakovic
$SPY - Daily Chart Extreme Overbought & Parabolic Snapback Setup$SPY - our $283 level of resistance finally broke over with the market busting over and gapping up this week. Spy currently sitting at $288.26 at time of post. Highs of market are at $293.85. 7th green day in a row, constant gap ups making it hard to get day trades with market breadth sucked out before market opens. In individual names, I have been take about 30% less trades than normal. Longs my hold time is about 1/2 of what it was a few months ago. Always have to adapt and find the trend with market conditions. $SPY - expecting a pullback sooner than later with stochastics now at 90.17. Market is due for a breather and pullback to at least 9ema, otherwise other notable level is $283 area again (for tap off support). Have a great weekend coming up!
AMEX:SPYShort
by BullsOnWallStreet
GBP/CAD - ShortI am new to trading and recently started to publish my analysis. Any advice or feedback is welcome via comments or in the chat. Looking for opportunities to learn new information & techniques. I have done some analysis on the GBP/CAD . The analysis has been done on the 1 hour candlestick chart with the trendline being drawn on the 4hr and I will be keeping an eye on this pair. There is a strong resistance line 1.777 which has been tested around 5/6 times. This is where you can also see a triple top forming. Which is a signal for the price to start to go down. It has touched the trendline three times over the past week and also the resistance line. I would place my: SL @ 1.782 TP @ 1.760 lets see how this plays out
Short
by IJMInvesting
1
EURUSD [1-3 days view]This trade was triggered earlier this week. However, I chose not to publish it as it was a low probability trade for me at that time for the following reasons: Market was only testing the ascending trendline support (now resistance) Normally I would wait for a pullback to retest the trendline before entering to short Market was also forming a Head & Shoulders reversal pattern however at trade time, it was still not confirmed. I choose to publish this trade now because I believe it presents a very strong case of how a trade can really move in your direction when multiple technical elements show confluence to provide that confirmation despite the low conviction I had. 1. Market was forming a Head & Shoulders reversal pattern 2. Market broke below the ascending trendline support (now resistance). 3. At the same time, market also had one candle close just below the EMA (13). This EMA as noted in the past provided quite a good support/resistance where price reacted above and below it. 4. MACD momentum indicator at trade execution crossed below 0% and entered bearish territory. The MACD and signal line also showed strong downwards momentum. 5. Everytime price broke below an ascending trendline support (turned resistance), market will make a strong and sustained downwards push. This happened at the 2nd week of Jan 2019 and once more at the start of Feb 2019. Now at the start of March 2019, we see this pattern repeated again. This is a quite a beautiful example of how technical analysis can be a very powerful skill to have for any market participant. Reach out to me to find out more!
Education
by laughingchartist
AUDUSD [1-3 days view]Entry: 0.71465 SL: 0.7185 TP: 0.705 This trade was knocked in this wed (27th Feb 2019). The reasons why I went short is listed below: Whilst market reacted above the ascending trendine support (in red), it failed to surpass resistance at 0.72100 Market then broke below ascending trendline support and also spiked below 55 period EMA At the same time, MACD showed a 'death cross' and also broke below '0' meaning it has entered bearish territory. This week has not been an easy week! But still keeping my eyes peeled open for more opportunities!
Short
by laughingchartist
EURUSD [1-3 days view]This was quite a simple set up though admittedly, the risk reward wasn't great. However, when presented with an opportunity, I will grab it. Here i saw market reacting above ascending trendline and also holding above EMA34. MACD was also in a bullish environment. Market was also testing a very key long term trend level at 1.135. I set my entry at 1.13525 and waited for the 2nd pullback and retest of the trendline. Pullback happened exactly as expected and knocked my position in. 1.14 price target is actually based on fibo retracement at the 61.8% of the previous downswing. Market hit target exactly and closed this position with a profit of 47 pips. With this much confluences, wouldn't you take the trade too?
Long
by laughingchartist
AUDUSD [1-3days view]1st Short AUDUSD Entry: 0.71635 SL: 0.7215 TP: 0.7020 Short order was triggered yesterday after market pulled back to the descending trendline resistance (dotted line). Market however surpassed this line and seemed to be heading for a bullish breakout... However, it reacted just nicely below the resistance at 0.71852 (thick neon blue line) to form the right shoulder... despite the spike, my position was not taken out and I held onto it. Here we see that a head and shoulders patterned has formed. The right shoulder being classically lower than the left shoulder. Market is also now below 55 period EMA. Market then puked further making my position extremely profitable after one whole day of waiting. I moved my trailing stop lower to protect profits. My trade is now risk free and profitable. Will look to scale in to this trade when possible.
Short
by laughingchartist