Get started

Roundnumber

The USDTRY Facing Key ResistanceLast post: May 22nd. See chart . Review: The bull trend continued towards 5.0000 resistance before an intraday reversal on Wednesday this week. Update: The bulls recovered the following day and continue to dominate the market. Conclusion: The extended wick from Wednesday's bar and 5.0000 resistance further ahead means patience until these levels become support. Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading
Long
by Sublime_Trading
Sopheon Still Struggling At ResistanceLast post: May 15th. See chart . Review: Price was struggling to break through the £10.00 round number. Update: Price is still struggling at this psychological level. Conclusion: Price remains above the Daily 50 & 200 simple moving averages so we can still wait for long opportunities but a break of the support level and price may move further down and towards the 50 simple moving average. Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading
SLong
by Sublime_Trading
Sopheon Still TrendingSopheon PLC has progressed since our last post here where price was at £8.42, and now stands at £9.12 at the time of writing this post. We have highlighted the area of consolidation which was from March 2017 to January 2018. The longer the period of consolidation, the bigger the trend may be that follows a breakout. As this period of consolidation lasted almost a year, we can expect a big trend which is what we are seeing so far. On the Weekly chart shown, we can see there has been mostly bullish bars indicating strength with the buyers and good momentum to the upside. If the momentum continues like this as price approaches the £10.00 round number then it shouldn't cause much problems in stopping/slowing down price. As £10.00 is a strong round number, anything can happen when price meets it so it will be interesting to see what the outcome is. Right now we will be standing aside here and looking for trades if price breaks through £10.00. Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading
SLong
by Sublime_Trading
Breakout on The USDTRYWe last posted on the USDTRY on April 11th when price had closed above the round number 4.0000 and was suggesting further bullishness with 3 further bullish bars after the breakout. Aggressive traders would have been triggered long into this trade but held tight and waited for a retest of the resistance-turned-support zone of November. We can see that most of April was spent in a breather area that was made up of what we call an XYZ pattern followed by the breakout of the high of April on the close of yesterday's bar. Ordinarily, we would have placed a trade on yesterday's breakout but given that NFP was out today, we chose to stand aside and avoid getting caught in erratic price movement. We can see that NFP simply moved price in the direction of the bull trend. Given that price has now broken out and the NFP is out of the way for another month, we will now look to place long trades. We would then like to see price move towards the next round number of 4.5000 and beyond offering strategic compounds along the way. This is setting up nicely for what could be a long term bull trend. When our edge appears we take the trade. Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading
Long
by Sublime_Trading
The CHFJPY Trading Below 110 SupportWe last posted on the CHFJPY on April 30th when we were waiting for price to break and close below a support zone formed by pivots in March and April as well as the round number 110. Yesterday's bar broke through all these levels as well as closing below the round number 110 suggesting further weakness and a continuation of the bear trend. This prompted us to place our second position on this currency which was triggered earlier today and has instantly moved into profit. This is rare. Never expect instant gratification and in fact, expect trades to go against you first before moving into profit. This is why we always use wide stop-losses which gives us the option of tightening stops if needed rather than being spiked out prematurely. With price on the CHFJPY now trading below 110, we want to see the bears keep control of the market and this fast moving trend structure continue all the way through to the next major level of support at 100. 2016 was when this level was last tested and when price failed to break through. Many will try and pick the bottom of the trend at 100. This may work but as trend traders, our bias is always in the direction of the long-term trend. We would like to see price break and close below 100 and then continue to the next key support levels of 90, 80 and beyond. This is looking strong for a continuation of the bear trend. Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading
Short
by Sublime_Trading
EUR/USD short medium swingWatching the euro for a short position based on mostly technical's, and the general fundamentals of the dollar right now. Looking for a reversal at the 61.8 level i have marked in conjunction with a reactive trend line. If price reacts properly i'm looking for price to move down to the monthly support of 1.22000 for about 90 pips. Time will tell and patients will pay:) I'm going to be posting everyone of my trade ideas on here so be sure to follow my page! thank you.
Short
by tower47
USD/JPY short long term swingI'm going to be watching usd/jpy like a hawk for the next few weeks. Many fundamentals are going to need to be considered at this time along with our technical analysis. There is a potential to see a strong yen leading into possible regulations on artificial weakening of Asian currencies. This plays in with the key levels we have been watching. We saw a push to 107.500 key level on NFP day leading to a nice rejection. Long term we are looking to see price break 105.500 key monthly support, this would most likely lead to a drop to around the 101.100 area for about 400 pips. But time will tell and patients will pay:)
Short
by tower47
USDJPY - getting ready to sell or buyOn the chart i marked 2 circles - red and green , green will be the price zone to buy after a false break down and red will be the sell zone after a false break up. Also red zone will be the 38% retrace zone of the last move down - i didn't marked it because i don't want the chart will be to messy. Anyway, the really important idea here regardless to the buy / sell from top to bottom is the entry price opportunity for longer term buyers/sellers - eventually i think USDJPY can go to 110 zone or 112 zone ( without to much of retracement ). Best of luck to the bulls and bears :-)
by uriyaz