Get started

Channelbreak

Counter Trend Trade on NZDCHFGood afternoon traders!! I hope you have had a great day so far! Here we have the market testing structure looking left as well as the bottom of a daily channel. It is also over extended at the 1.618 inversion and recently oversold on the RSI. I was waiting for a clear rejection of that level and we just got it. I went long on a double bottom on the 1H timeframe. I am showing you this chart because the opportunity can be seen more clearly on this one. Please feel free to comment, as, and even criticize! Best of luck on the markets!!
Long
by GasperiniGS
SPY -long ideaTrend is indeed in favor of SPY -now some may suggest that we need to chart Futures but to be honest it won't make a difference in this case. No point of taking a long position until either 235 is re-tested or 237 for a scalp. I'd wait until 235.22 test though. It could also come down all the way to test upper channel line, slim chance but possible. Although I feel like -if it tests 235.22 it might very well trade sideways for a while. Like always trade accordingly.
AMEX:SPYLong
by viktor89
IMAX - Upward channel Possible earnings play, $31 March PutsIMAX seems running within an upward channel, also forming a possible bear flag formation. On the other side we have the earnings coming in 2 days. So we would like to take advantage with option, and we would consider $31 March-17 Puts, last traded for $1.25 * Trade Criteria * Date First Found- February 19, 2017 Pattern/Why- Upward channel, Possible bear flag, Possible Earnings play Entry Target Criteria- Current price Exit Target Criteria- $29 Stop Loss Criteria- N/A Please check back for Trade updates. (Note: Trade update is little delayed here.)
NYSE:IMAXShort
by AcornWealthCorp