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XRPUSD | Buy Long | price has broken the trend!In my novice analysis I have concluded that because of the extreme high we saw in this pair at 2.6 previously and then the extremes of consolidating lows around .14103 there is anticipation for a bull run. •the price has broken the trend line creating higher lows on the weekly and daily •price has been consolidating for an extended period of time after a huge draw down, strong buy opportunity with clean entry •SL has been placed at last most recent low •TP1 & Tp2 are in the next zones above With possibly more to gain I am watching what price does at .28863 and then will take an entry if applicable. ..... Please feel free to post your analysis or critiques and opinions ...I’m open to what others are seeing on this chart! Anything helps! GLGT
BITSTAMP:XRPUSDLong
by UnknownUnicorn9913667
USDCHF , Buy Long Term (entry) (H4)Based on my novice analysis I’m expecting price to hit the first Tp and possible push through till the second TP. •Price has broken the trend line and is consolidating for the weekend •Price has created a high-low •Price was last here in 2017 and then showed a bullish momentum. •Ichimoku cloud is underneath price and Chikou Span , price has also crossed over cloud ..... Please feel free to add any recommendations or comments! I’m going back a forward between trading Naked and trying to learn and using the cloud for confirmation.
Long
by UnknownUnicorn9913667
1
USD/JPY POTENTIAL LONG Slowly getting better at trading as I'm slowly learning one day would like to peruse it full time. One of the most hungriest traders out there wanting to get better everyday. Don't shout at me lol if you disagree but i thought this might be a little idea to share we shall see. I'm expecting it to break the resistance line soon and once that happens I will wait for the retest. If the retest goes to plan then I will shoot long and collect my profits hopefully. Remember guys always take trades with good risk management and the sky is your limit. If you have constructive criticism please feel free
Long
by CuLLuM315
3
USDCAD Go Long Entry Trigger Not Met Yet Of PostingThis trade looks very promising. The market is currently moving in a descending triangle as shown. This means lower lows and lower highs. We are currently approaching the low of the edge of the triangle. Secondly, the 50 Period EMA has been dis-respected therefore we expect it to bounce back from it. Thirdly, the market is moving above the 200 EMA supporting the trend that the market is moving in the uptrend. We are currently looking for an entry point to go long which could include a MACD signal overlap (which is looking very probable and soon) and some sort of bullish candlestick pattern.
Long
by MarlzRana
SPX ( S&P 500 ) risk investors on or off trade.Here is another trading Snack. Ever sense the stock market pushed to it last all-time-high, followed by risk off fears of the pandemic, we’ve only challenged the re trace move bacK to the 61.8 Fib level and now are grinding around. With zero or close to zero rates in most of the world, money managers who for the most part have only seen for the last 11 years a by the dip strategy, now are managing from the point of stocks are the only real game in town. This kind of mind set only feeds the fire of a grinding market till the next great big head line. To some degree investors are also looking towards the nation reopening up after the virus appears to be under control from spreading farther. But what will the effects of the nation closing the economy have on future outlooks and business planing? Most of the virus number that will effect investor short sided views aren’t in the mix yet. Mostly those numbers just started to show up, or in some headlines are the best guesses of our investor gurus in our present times. Buffet one of the greatest investors said the other day, now is not the time to buy! In fact his investment firm has been actively selling and raising cash levels. So what is the trade? In my opinion ask yourself what is the driving force in pushing stocks higher over the 61.8 level and then challenge those all-time-highs again? If you can not find a reasonable driver to that possibility, then the higher probability trade is sell the rallies.
SP:SPXShort
by PipsTradingClub
Are you confident ?Another Forex Trading Snack. I posted up a earlier a trade that failed me and my original setup. Sudden volatility struck fast and hard! Ok, I will admit it, for a moment my emotions were crushed. I went from trading my setup emotionless, to just about packing it all in for the day! What changed? A bit of self talk changed my fear of having just lost, to playing the statistical odds of my setup again. The first top red arrow was my failure due to increased and sudden volatility. My second attempt was the lower second red arrow by the pink trend line. Both the first and the second order was to sell AUDUSD and both orders were almost at the same price & stop zone. Some might say why did I try it again? Sure volatility was still in the market, but it was my original setup along with the 21 SMA ( black line ) that gave me the confidence that after almost climbing for a week straight, this one was ready for a pullback. In addition to that increased volatility didn’t break the 21 and hold it, but price action went right back to the lower channel trend line. My thought was if it breaks lower and holds the break, the 21 would bend lower and hold the buyers at bay until even the buyers of the past week would take their profits, thus adding to the down side pressure. In early Asian trade and as I type, my trade looks fine, stops are at break even (BE) and if I got out right here and now—what once was a 30 pip loss is now a +20 pip gain if I took it off. Because my stops are at BE should they get hit there would be zero effect to the account balance as it sits now. If that happened I’d take a 30 pip daily loss on these two trades. Not a bad loss average if that happened. Because the odds are in my favor, I’m leaving it alone till early Europe’s market open to see if it drops farther. Because if it drops farther I could take a 20, 30, 40... you get the picture. I can finish my trades with making more then I lost to begin with. That’s adding to my confidence and positive consistency in trading. If this happened to you earlier, would you have had the confidence and or conviction to try again after getting stoped out suddenly by volatility?? Would you, or do you keep statistics on trading setups / trade plans or strategies, in order to give you more convenience and or more consistent results? Would you have entered the trade the second time changing entry, stops, or just did as I did , same everything? Finally do you trade Every time you see your setup as your strategies say are the best to trade, or do you second guess the setup—only to see at times the trade leave without you? The goal is self improvement! By me posting this it drives the point home in my mind that I need reminders too. Hope this helps in a small way in your trading journey. In trading you either make dust or you will eat dust! Al the best. This is not trading advice. It is however a real experience in my trading day. Off to the next trade!
by PipsTradingClub
AUDJPY wedge play for 4/16-17/20Here is another trading snack! AUDJPY has created this really nice bearish wedge pattern. In my opinion there is two good ways to play this pattern. As always patterns can and often do break in the opposite direction from ones own analysis or market bias’s. Having said that, trade if you must with your own risk tolerances. ‘‘Tis also isn’t trading advice, but my opinion on how I’m trading this pattern. What I’d like to see is a retest if the upper trend line. It may or may not happen. I’ve set orders in the upper red box to go short with stops just over the red box. But because I suspect a break down in price. I’ve also set sell orders just below the lower red box, the one just under the lower trend lie—with again stops just over the top of that same red box. The green boxes are targets and TP zones. Ideally I’d like a retest if the upper trend line and then a break down to my lower orders. If that happens I’d move stops upon the lower orders filling to my upper orders if filled. Those stops would go to my BE point or my upper average price. Once price has moved another 20 pips or do I’d move all stops to my BE on total orders average price and wait on my targets. The strategy is to put on as many orders as my trade plan allows while limiting my risk, and while allowing for the market to move with breathing room to this consolidation pattern. In recap. The upper orders might not get filled. But a breakdown will still get me in on the idea. If the upper orders get filled but price action breaks higher, I’ve limited my risk to my accepted levels. But if the strategy goes as planed then this idea should double in size as far as trading lots, but limit my risk to a level as if I was only trading 1/2 the size in lots. As always, you either make dust in trading or you will eat dust! Again this is only an educational post on how I’m choosing to trade this idea. It is not trading advice! All the best in your own trades.
Short
by PipsTradingClub
1/14/2020 USDNOKImpulsive moves are what we are looking for. Right? I mean those are the moves that have the biggest bang for the trading risk buck! However looking around the charts sometimes you just run into a move that has already happened. Sad, but it’s true all to often. Opportunity could just be hiding in plain sight though. This is when I look for a EW ( Elliott Wave ) 5 Wave pattern. I’m no EW wave trader, but learned to spot those 5 wave patterns. First EW 5 waves are moves that happen in impulsive moves and more importantly, they’re mostly an ending move pattern followed by a counter move. A very reliable pattern with a very high percentage of these kind of out comes. Second the 4 wave is usually drawn out over a longer time and the move to the ending 5 wave is more sudden. This gives time to get in on the action even though most of the impulsive move happened when you were looking right instead of left. Spotting these on the daily or 4 hour charts is what I trade if they’re seen. USDNOK is currently in what I think is a EW 4th wave ( see the attached chart)!and about to go down more into the 5Th. In addition to the daily chart, taking a look into the 4H we can see a rectangle consolidating price action just under the 200 day daily moving average. Should this break down lower price according to EW pattern it should make a new low. I’m looking for 8.75-8.70 From it current price of 8.87-8.88 a very nice move indeed if and when it happens. I’ve placed no orders out to see if they get filled over my night. Remember yo use personal appropriate risk for you and your size of trading account. Because you know, Forex Trading is the hardest easy money you’ll try to make. All the best in your trading.
Short
by PipsTradingClub
1/13/2020 AUDJPY Another Forex Trading Snack. AUDJPY on my weekly chart it shows an interesting point in price action. Sitting just below a multi year trend line ( a trend line going back to 2018 ) this down slopping pink trend line should provide a cap in price. Usually price action taking a crack at a multi year line doesn’t break through on the first try. My bias is to set up shorts at or around the 77.00 however price is stalling at the 76.00 currently. Moving down to the 4H chart I can see a short term range setting up between the top 76.00 and the bottom 75.40-50 as the zones to break for who may take short term control between the buyers or sellers. Short term or longer term trades have some planing to do. My bias is still on the longer side of things and have placed short orders at and around 77.00 stops just above that. For me that a good well defined risk zone. For you all... well you can decide for yourselves. Remember Forex trading is the hardest easy money you’ll ever make! Plan your trades and trade your plans accordingly to your risk comfort zone. All the best in your trades.
Short
by PipsTradingClub
1/12/2020 EURUSD long ideaAnother Forex Trading Snack! The EUR has been trapped inside of a multi year wedge pattern ( indicated by the blue trend lines ) but once it broke out of this pattern it’s bias in my opinion is to the long side. Also recently the DXY index has formed a wedge like shorter term pattern and the exact inverse pattern of the DXY is the gray trend lines indicated on this chart. My idea is buying the dips. My red box is my buy zone as well the bottom of the box is my extreme stop placement. Should orders get filled I would expect the top of the gray pattern line as the first target zone, but secretly wanting a breakout to happen. As always all the best in your trading. A EURUSD landscape daily chart Always remember, Forex Trading is the hardest Easy money you’ll ever make!! Plan your trade, and trade your plan with your individual risk management.
Long
by PipsTradingClub
Gap trading I’m often asked about gap trading after I post up a gap trade setup. Usually the question is, “ what is my strategy in trading gaps?”, or “What is gap trading?” Back in June 28-30 this gap happened in spot gold. ( the pink circle) it’s a good example of gap trading from real charts not text book examples. Well first of all, not all gaps are created equally. On days where the market, or certain currency pairs gap in price right from the open, gapping with a larger gap from the previous Friday closing price, those are my targeted trading opportunities and here is why! Any gap which is larger then 30-40 pips or even bigger are good opportunities. The 30-40 is a minimum range in gap totally depending on the pairs daily true range. Example with the USDJPY pair. The daily range is a smaller range so a gap of 30-40 pips is a good opportunity. I’ve seen gaps of 100 and more in this pair. So weather it gaps up or down we are interested in taking the other side of the gap. Mostly a gap is created by imbalances in the market and one of my rules of trading states... “nothing moves in a straight line for a long!” Imbalances correct themselves, overly excited traders pushing price in a straight line and at some point they also take profits. Thus price pulls back ending a straight line move or in case of a gap the imbalances seek to correct just because of the imbalance at the open. Going into this weeks open I will be actively looking for gaps in currency pairs with tighter broker spreads. Because some pairs will open the week with 10-20 pips or more in broker spreads, those pairs are right off my list of pairs to watch for gaps. Unless these pairs ( larger broker spreads ) gap by 100 pips or more, I don’t bother with them. I don’t even look at them unless same underlying pair in a smaller spreads pair gaps are over sized. Example: if the USDJPY ( a pair who usually has a tighter broker spread even in low liquidity ) gap is let’s say 50-70 or on the larger side of things, we could expect that the EURJPY or the GBPJPY gaps will also be larger even in those pairs even with broker spreads being larger on average to start with. So the trade strategy is simple. Using the 15 minute chart I allow the first candle to form. With a larger gap we then enter the trade slightly to the gaps direction after the closing price of that first 15 M candle then the first candles closing price. Example of this would be; if the pair gaps higher and the 15M candle closed at 109.00 then we’d set a sell order at 109.05 or 109.10, because both entries are at higher prices then the 15 M candle close. We at the same time set a tighter stop setting because gaps can get larger before returning to closing the gap. Usually we set the stop above the first 15M candle. But there is a second strategy of playing a gap trade. One could enter the trade just like my example above but also setting more orders in the direction of the gap just in case of an even larger gap move after the opening gap. After the orders are filled we wait for the closing move. Mind you, these weekly opening gaps are also in the lowest liquidity part of a new trading day, so gaps usually will close heading into the Asian market days open. We get out of the trade in my standard way. By taking some off as soon as the trade moves in a positive way equal to my stop setting. At the very point we take some profits off we also move stops to break even ( BE ) and allow the trade to hit targets because we have a free ride trade or risk free trade. Once we get to this point of a free ride trade, I always allow the market to take me out at either my targeted profit zone or at BE. No more management or time must be devoted to this trade. Besides the outcome is either profits or no negative effect to my trading account. So my time is better used in finding the next opportunities. That’s it! That’s gap trading how I do it. It a higher percentage trade because to a higher degree these gaps close before moving again in their longer term trends. Side note: should a gap happen counter longer term trend then your profit targets could well be beyond the close of the gap. This would allow for your trade to move with the trend for a longer term or bigger profits. These kind of gaps are my favorite kinds to take. Because the gap in price gives a great price because the gap is counter trend but the trades outcome can be larger by added to the original trade. Because the start of the position is risk free or has booked small profits. So adding orders on doesn’t have to increase risk to the trade. I’d have to do another post on adding to positions once you’ve started a trade in the longer term trends directional move. Until next time! All the best in your trading.
FOREXCOM:XAUUSD
by PipsTradingClub