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Possible NZD/JPY Short position!!SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 1-2 days Actions on - A – Activating Event Market will meet resistance in zone @75.87 - 76.50 and fall to the @ 74.5 In order to enter, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market move towards the first Target 1 level @ 74.5 FX:NZDJPY Trade Management Entered @ Sign up for mentoring Stop Loss @ Sign up for mentoring Target 1 @ 74.5 Target 2 @ .... Risk/Reward @ 3.1 Happy trading :) Follow your Trading plan, remain disciplined and keep learning !! Join our Mentoring Program TODAY!! twitter.com Please Follow, Like,Comment & Follow This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
4
Siamese Falling Wedges & a 4 Hour Golden CrossWe can see we will likely be getting a 4hr golden cros on the 4hr chart roughly 2 hours from now on Bitstamp(shown here). A quick look on the Bitfinex chart(not shown here) shows me a 4hr golden cross has already occurred on that exchange which could be why we are already seeing 3 nice green candles in a row here.Of coure it could also be in anticipation for the golden cross as well. Other bullish elements include the current falling wedge we are in(in yellow). It is nearing its apex and we can also see that it is overlapping with another falling wedge(in white). This overlapping wedge effect I haven't seen talked about before but the term I'm coming up with for it is siamese falling wedge because they are kind of fused together. Currently the most valid of the 2 wedges I believe is the yellow wedge and it is exciting to see price action trying to break above it...unfortunately right at the top trendline of the yellow wedge we currently have the historically strong teal horizontal teal line overlapping the trendline and creating a double reinforced resistance. Ultimately the kind of patterns eventually resolve bullishly so I anticipate we will inevitably break upward here...the 4hr stochrsi ah plenty of room to go up. However, I now think the breakout target is gonna be more for the wedge than it is any kind of long poled bull flag so I don't believe we will be breaking out of the bigger wedge above it necessarily but I do believe we will at least test it and we will hopefully finally break above the 1 day charts 50 ma for a bit which has been incredibly powerful resistance for a long time. Whether or not we will be able to sustain priceaction above the 1 day 50ma and flip it to solidified support I will have to wait and see how things look once we get there. For now I am at least in the immediate and semi short term long. Just my position though not financial advice by anymeans. Thanks for reading!
BITSTAMP:BTCUSDLong
by DrDovetail
Possible USD/CHF Long position!!SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 1-3 Days Actions on - A – Activating Event Currency Pair breaking through resistance line and heading to next strong resistance line B – Beliefs Market move towards the first Target 1 level @ 1.01 OANDA:USDCHF Trade Management Entered @ Sign up for details Stop Loss @ Sign up for details Target 1 @ 1.01 Target 2 @ Risk/Reward @ 3.1 Happy trading :) Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow Thank you for your support :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Long
by SMPTrader
1
Long AUD/CHFSELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 4 Hours Actions on - A – Activating Event Currency Pair pushing off higher support line and breaking resistance line. B – Beliefs Market move towards the first Target 1 level @ 0.716 FX:AUDCHF Trade Management Entered @ Sign up for details Stop Loss @ Sign up for details Target 1 @ 0.716 Target 2 @ Risk/Reward @ 1.1 Happy trading :) Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow Thank you for your support :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Long
by SMPTrader
Following the trend 2 - USDCAD - retest entryAfter the Bears took control at 1.36500, a very strong bearish momentum has pushed the market in a strong downward trend, retesting off resistance zones as it continues to decline. As our previous trade successfully closed breaking past both of our targets. We are looking for another retest entry to profit from the bearish momentum. Steps needed: -Price needs to break past the support zone -Price must make a corrective movement back to retest the broken support zone. -We short the pair upon the confirmation of retest of 1.32536 As always we'll have multiple targets. Our first target will be at 1.31961 Our final target will be at 1.31611 Happy Trading -Juff
Short
by TheRZA
BTCUSD 4H Wave Analysis 1/51/2 Has hit the .618 retracement of it's wave at ~3549.35 (could go to 3444) The 1.618 extension on 1/2 hits 5378.37 Near key level 5333.33 This takes us past 5280.48 which is the .618 retracement of the move down to the low of 3128.89 I expect 3 to end near these levels. 4 could hit anywhere between 4233 and 5K Some key levels are 4444, 4623, 4870. 5 could only extend to the .618 extension of wave 3 (not pictured) or perhaps go 1:1/just past wave 3. @ 6478-6610
COINBASE:BTCUSDLong
by Mikelikescrypto