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TRADE IDEAS

Whether you’re interested in trading cryptocurrency, forex or equities , AskTraders is on hand to help inspire your next trade. Our team of analysts and traders are constantly scanning the markets looking for the best trade opportunities, the feed below is updated throughout the day with their trade ideas. These are all original setups, researched by professional traders and brought to you for free throughout the day

S&P500 - New All Time Highs Ahead of the Weekend

S&P500

Good Morning Speculators!

On Thursday there was a speculative info that US-China tariffs agreement is having some issues but the news where bought back quickly. During the Asian Session US Futures have pushed to All Time Highs. At the moment this is what you should consider:

S&P 500 Futures (Chart above)

NASDAQ Futures

Market Comments:

We remain with the same scenario as discussed Yesterday on DAX 8EMA break and Gold buying opportunity. As the angle of the trendlines is getting sharper, we are expecting a pullback in indices that may signify a short trade for a few days. This does not mean that it’s a short at the moment, it just means that you should stay cautious in the next 3-4 sessions. Also we have resistance lines on the ES and NQ. By the way, FTSE100 is feeling the most bearish for now.

The world markets are all in green at the moment and here is a link to check it quickly at any given time.

httpss://money.cnn.com/data/world_markets/europe/

Trade Ideas:

At the moment, I do not call any trades on US or EU index futures, we have a scenario playground with DAX and Gold so keep it in mind. Its Friday and there could be anything happening but its clear that we have come a long way till current prices and its hard to initiate new positions that are not momentum or news driven.

Cryptos also are slow and low volatile. As we re not seeking day trades or scalps, avoid for now.

As a conclusion:

Watch the market closely, don’t force trades and spend some time with the family if you see that the market is doing nothing.

Have a great weekend!

Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 15, 2019
0 4

NZDJPY - Update

NZDJPY

Good day traders!

When I last analyzed NZD/JPY on the 31st of October, I was waiting for price to enter the 70.10 – 70.85 price zone for an opportunity to go short. I also identified an entry zone higher up, but because price has been trading sideways ever since, I now favor my lower price zone for an entry.

Conclusion

Price has been supported on numerous occasions around the 68.99 price level (a previous high) and my center median line which turned price back upwards yesterday.

NZD/JPY might still reach my entry zone, but if price fails to move that high and breaks below the two support levels at 68.99 and 68.88, then I will assume that a top is in place and target the 68.16 and 66.93 price levels.

Until next time, have a great weekend!

Regards

Richard Krugel

by Richard Krugel November 15, 2019
0 2

S&P 500 - Another strong rebound, another new record high 

S&P 500

Again, a setback Thursday but once more holding and rebounding from just above our 3075.75 and 3072.5 supports (from 3081.75), to sustain upside forces with a surge overnight to another new record high at 3011.5, to keep the bias higher for Friday.

  • We see an upside bias for 311.5; break here aims for 3117.75 and 3125.75 and maybe 3138.5.
  • But below 3098/96 targets 3081.75 and then quickly opens risk down 3075.75/72.5.
by Steve Miley November 15, 2019
0 0

S&P500 - Momentum slows and FOMO is rising.

S&P500

Good Morning Traders!

Its Thursday and the trend continues, although US indices show a slowdown in momentum and Europe is trading mixed, we are near All time highs. Some stocks have been shooting straight up and others are just showing setups. In this indecision its very hard to start new positions to the long side and its too risky for aggressive shorts on strong stocks. Waiting is also a way to trade the market so patience is key here.

Trade Ideas:

DAX

Positions:

As for the positions on US stocks, follow our previous posts to consider stops and targets.

 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 14, 2019
0 1

AUDUSD - Update

AUDUSD

Good day traders! The chart above shows the price structure of AUD/USD when I covered this trade idea on the 25th of October. There were two long-term channel lines above price at the time which created a price zone between 0.6883 – 0.6950.

My second chart shows where price is trading at today. AUD/USD probably topped out after price found resistance at my upper blue channel line and reversed lower. Price has since dropped below a previous level where resistance turned into support at 0.6810.

Conclusion

There is a good chance that price will test the 0.6778 price level, which is where a center median line and lower median line from two separate pitchforks cross. A break below those lines could drive price lower towards the 0.6727 price level or even the 2nd of October low at 0.6670.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel November 14, 2019
0 5

GBPUSD - Day trade outlook: Modest upside bias

GBPUSD

A minor Wednesday setback but still holding above the 1.2815/1.2799 support area, to retain upside forces from Monday’s surge up through the November down trend line and also 1.2832 and 1.2878 resistances, to leaves risks higher for Thursday.

  • We see an upside bias for 1.2898; break here quickly aims for 1.2917 and maybe notable 1.2976.
  • But below 1.2815/2799 opens risk up to 1.2768, maybe 1.2749.
by Steve Miley November 14, 2019
0 4

SP500 - Europe takes a break, SP500 tapped 3100

SP500

Its mid-day and looks like Europe indices are showing some weakness along with Asia. FTSE, DAX, CAC40, in the red with a drop -0.5%+. Gold futures is showing relative strength. Watch how the market (S&P500 futures) reacts to 3064 as local support. If we go lower, 3050s is our next spot.

FTSE

DAX

Trade Ideas:

Gold Futures are showing strength as international markets are slowing their momentum. We saw some commitment at 1450s and looks like it’s the area that matters as previous levels of 1455ish and 61.8% collide in the same price zone. I would consider longs here near 1455/60s if the US market will continue its corrective move. Stops at 1445.

Positions:

As for the positions on US stocks, follow our previous posts to consider stops and targets.

 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 13, 2019
1 3

CADJPY - Update

CADJPY

Good day traders! My bias on CAD/JPY remains bearish (see my 7th of November analysis). The move lower, from the 28th of October high, can be viewed as impulsive and was followed by a possible correction higher that created a lower high.

Price has since traded lower again and if you use a downward sloping Schiff pitchfork, then you will notice that price has respected my center median line on 3 previous occasions.

Conclusion

A break below my center median line could see CAD/JPY test the previous high at 82.091 or drop even further towards my lower median line around 81.500. My upward sloping channel will remain on my chart to see whether price will find support at the lower channel line, but a break below there will be an indication that price can fall even further.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel November 13, 2019
0 5

EuroStoxx50 - Day trade outlook: Dip and a bounce leaves a bull bias

EuroStoxx50

A Tuesday rally to yet another new cycle high to hit and stop at our 3714 target, to build on Monday’s setback and rebound (as also seen last Friday,) exactly from our 3677 support, to reinforce upside pressures from the early November surge through multiple resistances, and despite a dip lower overnight to keep risks higher Wednesday.

  • We see an upside bias for 3714; break here aims for 3726, maybe 3737.
  • But below 3686 quickly opens risk down 3677 and maybe 3665.
by Steve Miley November 13, 2019
0 2

Futures - Higher, the trend continues

Futures

It’s a wonderful day and we are definitely in an uptrend. The strongest sectors remain strong, volatility is steady and the direction is firm. SPY is holding its support at 306ish and local resistance is at 309.65, the trend remains unchanged.

Trade Ideas:

Nike (NKE) Initiate longs near 90.00 with stops under 89.30s. add on break of 90.72 ~ 25% of the position.

Positions:

Danaher Corp (DHR) Didn’t continue its upside move and 135.50s was quite a resistance. I would cut off 50% of the trade and wait either to stop me out or for the volume and price to be directed vertically.

Starbucks (SBUX) showed some power near 81.50s and now looks like it broke the falling wedge and might move higher. Look for clues and confirmation of the following level 83.50. Stops at 81.20.

Electronic Arts (EA) is feeling pressure, stops under 96 for the remaining part but use alerts for a longer timeframe as the trade might need some more time.

Tesla (TSLA) is confirming our scenario and had a nice gap and a small move to the upside. Yesterday Highs at 349. Do not forget to cover into the first target at least 50% of your position. Remember, you cover into new highs  not into correction.

 

Brown & Brown (BRO) is feeling well. It made a new high at 38.03. Unload a chunk into 38.50s and 40s. Leave after 40s only 10-20% of the position as a runner.


Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 12, 2019
1 3

GBPAUD - Bullish Resumption

GBPAUD Bullish

Target 1: 1.9093

Target 2: 1.9537

Good day traders! GBP/AUD may have put in a low after price stopped short of my invalidation zone and broke above my upper red trendline (see my 5th of November update).

30-Minute Timeframe

The move higher, from the 7th of November low, looks impulsive and more aggressive traders could have taken a long position when price broke above the upper red trendline. Those traders with a more conservative approach may consider waiting for a pullback towards one of the Fib retracement levels, thereby anticipating a higher low before entering.

Conclusion

Should the recent upwards momentum continue, then price could target the October high at 1.9093. A decent break above that high could see price make its way towards my upper green channel line around 1.9537.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel November 12, 2019
1 9

EURUSD - Still a downside risk to the key 1.0989

EURUSD Bearish

A minimal rebound Monday capped at 1.1055 resistance, after last Friday’s probe lower through 1.1035 and 1.1021 supports, to reinforce last Tuesday’s plunge below 1.1071 for a Double Top pattern, to keep risks lower for this Tuesday.

  • We see a downside bias for 1.1015 and then the key 1.0989 level; break here aims for 1.0959 and maybe critical 1.0939.
  • But above 1.1055 opens risk up to 1.1092/93.
by Steve Miley November 12, 2019
0 3

Trade Updates - US Veterans Day, Futures meltdown

Trade Updates

Good morning traders.

The US holiday gives us a chance to rethink our past week and adjust with some new ideas. On Friday, the futures closed strong but today we are seeing a slide to the lower range of the Friday. The bears dominate the UK Market today and eventually it affects the overall investment sentiment.

Trade Ideas:

At the moment there is not much happening as the Stock Exchange (is closed) is expecting to have lower volume but the futures market might give an opportunity in the Russel 2000 micro contract (M2K). Check the level 1585 – 1582 as the main buy zone to see if there price confirms the levels. Consider entries with increased volume on 30/60 minute charts.

Positions:

Danaher Corp (DHR) looks like it triggered our trade. Its holding 133.50 – 134 and even closed on 135 mark. We see some volume coming in and there might be a good continuation. Place stops under the consolidation at 133.20s. First targets at 139.

Starbucks (SBUX) remains under pressure, it didn’t give enough info for the trae to be triggered but that doesn’t mean it should be skipped. Watch for a reaction of local pivots around 81.00 and 81.50s.

Electronic Arts (EA) stopped most of us at 96.50, good if you placed a separate stop on a part of your position at 95.50 area. For now it looks bullish and its holding 50/21 and 200MA. It may need to clear 100 market for a move to 102. If you are still in, wait, if you got stopped out at 96.50s, consider buying around 96.00 – 95.50s if the price will move there.

Tesla (TSLA) didn’t change much and still looks interesting. This week we might clear the 340 mark and move to 350 where is our first target. Stops at 314.50s for now.


Brown & Brown (BRO) It’s still holding near the highs, hopefully this week we can see a continuation of the move towards 40.00. Stops at breakeven.

Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 11, 2019
0 3

XAUUSD (Gold Spot) - Gold Can Still Go Lower

XAUUSD (Gold Spot) Bearish (Short-term)

Good day traders! Gold has been trading lower since the high back in September this year and the current price structure might suggest that we are seeing a corrective pattern that has not yet completed.

4-Hour Timeframe

The move lower, into the October low, looks like a 3-wave structure that was followed by a complex correction higher that ended early November. We may be dealing with what is referred to as a Double ZigZag.

Assuming that this whole pattern is corrective, then Gold might be in the early phases of another 3-wave move lower that could target the bottom of my channel.

Price took out the October low on Friday last week which could be the A-wave of the final ZigZag lower. The A-wave might extend lower, but if price bounces higher again, creates a lower high, followed by another drop then price could target the 1420 price level or even go lower towards the 1400 level.

Conclusion

My bias on Gold is bullish over the long-term, but the corrective nature of the current price structure suggests that I should wait before I want to get into Gold again.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel November 11, 2019
0 10

AUDUSD - Risks now lower

AUDUSD

A Friday plunge below .6878 and .6858 supports, to reject the Thursday rebound up through .6907/08 resistances, to shift risk back to the downside Monday.

  • We see a downside bias for .6845/44; break here aims for .6808/06.
  • But above .6887 opens risk up to .6913 and maybe .6929/30.
by Steve Miley November 11, 2019
0 4

S&P Futures - New high at 3097, do we hit 3100 or fall back?

S&P Futures

Good morning gamblers! 🙂

Its Friday and I bet a lot of you had a great week with our trades in BRO, TSLA. TWTR was covered at a loss and EA is trading near breakeven. Remember when the market is getting to new highs, its very hard to catch a good trade.

SPY got some pressure yesterday but no clear reversal setup for now. Yes, we do feel the bears sentiment but no technical confirmation is in place. IWM is the weakest so it is probably wiser to focus on it. SPY next support is at 306.20s and IWM at 157.35.

Trade Ideas:

Danaher Corp – DHR does not look bad. The price is in the are of support near the previous pivots 134-135.50s. The 200SMA was touched and we have some supporting trend lines that confirm the potential increase in price. It was not very bearish yesterday and the volume is steady. I would consider a long on 133.50s or if it becomes relative stronger than the market, break with volume of 135 might be a spot to watch.

Positions:

Starbucks (SBUX) did show a correction move to 82 level as expected but didn’t confirm the reversal setup with volume. Watch it for clues today so if we get a breakout back to 82.60s with volume, we might start a sweet long.

Electronic Arts (EA) touched the 99 mark once again and got sold. Loos like its not ready yet. Stops at 96.50s, some stops might be placed around 95.50. The drop may become a back test of the trendline break, and it this case, the direction remains unchanged.

Tesla (TSLA) hit the level 340. Stops should be moved to breakeven. Good if you reduced 10-20% of the position near 340 as the market becomes slower. Longer term targets 352 – 370.

Brown & Brown (BRO) did exactly what where looking and tested its previous highs near 38. I hope you unloaded some near 38 mark as the resistance was an obvious obstacle for a the short term. Stops at breakeven.

Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 8, 2019
1 10

GBPCHF - Update

GBPCHF Update

Good day traders! The GBP/CHF currency pair has continued trading sideways since I last covered this trade idea on the 30th of October.

4-Hour Timeframe

When I first analyzed GBP/CHF, I identified a price zone between 1.3000 – 1.3100 where I expected price to move towards before a potential drop could take place. Price structure currently suggests that a Descending Triangle formation has taken hold, which means that should price break below my orange horizontal trendline, that a decline could start sooner than later.

There is a possibility that price already made a top when it reached my upper blue median line on the 17th of October (blue arrow). Since that top came in price started moving sideways and at some stage soon, I would expect a breakout.

Conclusion

A break below the 1.2692 price level, with decent momentum, could drive price lower towards my lower blue median line or the 0.5% Fib retracement level at 1.2537. The next level of support is slightly below that at 1.2477, where a previous high was formed.

I will keep my upper entry zone between 1.3000 – 1.3100 while I wait for directional confirmation once this triangle finally completes.

Until next time, have a great weekend!

Regards

Richard Krugel

by Richard Krugel November 8, 2019
0 6

USDJPY - Bull bias

USDJPY Bullish

A Thursday dip and a strong advance from just below 108.79 support (off of 108.62), to a new recovery peak above the key 109.29/32 resistance levels, confirming bullish pressures from the early November surge, to aim higher again Friday.

For Today:

  • We see an upside bias for 109.60/62; break here aims for 109.93, maybe 110.34
  • But below 109.03/01 opens risk down to 108.62.
by Steve Miley November 8, 2019
0 5

- Tariffs get an ease, futures higher

Welcome back!

Wednesday SPY did cover its gap holding supports at 306.20. For now, we are trading higher in the pre-market on the optimism of tariff US – China deal.

Trade Ideas:

SBUX might be an interesting trade as it has 3 reasons to hold the 82 area. First its 200SMA on Daily, second it’s a nice round number that worked well on two pivots before and 3rd we’ve seen reaction on the level and now we need a pullback and a back test of the trend line. The Daily chart shows more clearly. A pullback to 82.00 – 82.25 with a picking up volume and a quick bounce of it will keep the trade valid.

Positions:S&P Futures (ES) is up considerably and did not proceed with out yesterday scenario which means that either you took a trade and exited at breakeven, or you had no trade at all.

Twitter (TWTR) is trading lower in the pre-market and looks like this is a losing trade. I hope you had a very limited risk of no more than 1% on this trade.

Electronic Arts (EA) did show commitement and made a new high of 99.30s before a small pullback. At the moment stops remain unchanged at 96.50s with targets past $100+.

Tesla (TSLA) moved higher yesterday and confirmed the momentum move. First targets near 340s. Stops remain at 309.50 for now. Yesterday low at 314.50 is a local support. I hope you are still in.

Brown & Brown (BRO) Continued its move to the upside, giving us another $ in profits. Its still unrealized gains which means stops are in place at 36.50s. Lets see how it reacts near 38 level. 

Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 7, 2019
0 0

CADJPY - Bearish

CADJPY Bearish

Good day traders! The CAD/JPY currency pair has run into strong overhead resistance and we might see price trade lower in the near-term.

Weekly Timeframe

Using the September 2017 high as my starting point (Chart above), I drew a downward sloping Schiff pitchfork which has managed to contain price action pretty well. Price has recently struggled to break through the center median line to the upside and reacted lower, leaving a weekly red reversal candle behind last week.

Daily Timeframe

Last week’s high came within a fraction of an upward sloping channel and reacted lower. Price then found support at a previous high (red dashed line) and has since bounced towards my center median line again.

Conclusion

A break below the 82.09 level could see price target the bottom of my channel, but if price does not find support there, then we could see a deeper decline.

Until next time, happy and safe trading!

Regards

Richard Krugel

 

by Richard Krugel November 7, 2019
5 7

DAX Future - Bull extension

DAX Future Bullish

A Wednesday push higher to a new cycle high above 13166.5 to 13208, after Tuesday’s high-level consolidation and Monday’s surge through multiple resistances, to keep risks to the upside Thursday.

For Today:

  • We see an upside bias for 13208; break here aims for 13250 and maybe 13333.5.
  • But below 13103.5 aims for 13070/65 and opens risk down to 12970.5.
by Steve Miley November 7, 2019
1 1

S&P500 - Ready for a short term top?

S&P500 Bearish

Good morning speculators!

Tuesday was a slow day and the market seemed to set a short term top, at least for now. Local supports at 306.20 and resistance at 308. Wednesdays are usually tricky days and we are not seeing much of a fundamentals to boost the continuation move so lets see.

Trade Ideas:

S&P Futures (ES) is a futures trading idea (Chart above). We saw a local top near 3086 on SP500 futures and looks like a lower move could start. Ideally our team is looking to see a market open near yesterday close at 3070s with a potential trap for the bulls and initial move towards 3080s from which we consider, some sellers might step in. The plan is the following: Look for resistance confirmation during the US session with ETF (SPY) resistance synchronization. Enter on a short term pivot trigger during the first 2 hours from the market open. If the play doesn’t confirm the scenario, skip the trade. Stops are local pivot high, target 1 @ 3056, target 2 @ 3040s.

Positions:

Twitter (TWTR) still under pressure but not giving us a drawdown. Yesterday close at 29.81, stops 28.83. Risk/trade 1%.

Electronic Arts (EA) continues to show buyers commitment as it held our stop at 96.50s almost to the tick with a yesterday low at 96.63.

Tesla (TSLA) is slow and even if it did renew the local high 323.50s, some pressure persists as the market is quit slow. Stops remain at 309.50s.

Brown & Brown (BRO) held our supports around 36.90s and might need a bit of time to settle before going higher. Stops at 306.50s. Good if you got in at our noted price.

Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 6, 2019
1 6

NZDUSD - Risks shift lower

NZDUSD

A Tuesday rebound failure after Monday’s intraday setback from a new recovery high (through .6456/57 resistances up to .6466), to push below .6388 support and switch the threat lower for Wednesday.

For Today:

  • We see a downside bias for .63/67; break here aims for .6331.
  • But above .6411 opens risk up to .6431, maybe .6466.
by Steve Miley November 6, 2019
1 8

EURNZD - Bearish

EURNZD Bearish

Target: 1.7201 - 1.7001

Entry: 1.7307

Good morning traders. The EUR/NZD currency pair has been struggling this year to break through a couple of important long-term resistance lines and currently sits near a support level which might drive price lower if it is broken.

Daily Timeframe

On my daily chart (above), I drew two different upward sloping channels using the numbers 1 and 2 to set the angle, and the number 3 to set the width. The purple and green arrows show how price, on numerous previous occasions, respected the center lines of these channels and most recently struggled to break them to the upside this year.

Zooming in closer reveals that price found support at the 1.7307 level (red line), which was a previous high set on the 18th of June this year.

Conclusion

A break below the 1.7307 level could see price decline towards the 1.7201 level or even lower towards the 1.7001 level.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel November 6, 2019
5 4

TSLA and TWTR - are set for moves higher

TSLA and TWTR

Good morning speculators!

Yesterday on Monday the 4th we’ve updated our all time highs on $SPY, $QQQ, $DIA. Dow Jones was playing the catch-up as Nasdaq and SP500 have already broken their extreme levels. Currently the SP500 futures is trading in a slightly bullish dynamic. The high of the overnight session is 3085, watch it on US open.

SPY (Chart above) gapped two days in a raw and looks like strong momentum to the upside will not be an easy play. Take note that 304.50s is a major support. Friday close also is an important level which is 306.20.

Trade Ideas:

Brown & Brown (BRO) is trading near all time highs. Its retracing to a big area of support. Expecting the levels 36.90s to become buyable but only if the price shows. Expected stops under 30.50s. Potential move to $40+

Positions:

Twitter (TWTR) remains one of the positions in place. Notice that we are playing weekly support and it may take time till momentum builds. Stops at 28.83.

Electronic Arts (EA) remains interesting as we have noted it from yesterday. Good if you took a position in it as we have seen an almost 2% rise. For now, I would like to see It holds $96.50s – $97 and pushes through the $99 mark with volume.

Tesla (TSLA) was initiated yesterday according to our call. It has nice potential if the market will be slowly grinding. There was some news that a Hedge Fund that was shorting Tesla gave up on the idea but we don’t trade the rumors so lets focus on technicals. At the moment we have stops at 309.50s and a triggered long at 316.50s. Lets see how it plays today as the market could have a big impact on TSLA.

Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 5, 2019
1 5

GBPAUD - Update

GBPAUD Bullish

I analyzed the GBP/AUD currency pair a while back and identified a zone between 1.8620 – 1.8745 where support might come in and turn price higher again. The price structure since the 16th of October high continues to look very overlapping, which still makes me think that we are dealing with a correction.

Price is currently within my support zone and continues grinding lower in a contracting pattern. There is a good chance that my lower red trendline will be tested, which could turn price higher again.

Conclusion

A breakout above the upper red trendline could signal the start of the next move higher, but a move above the 1.8800 level will raise the probability that my proposed correction has indeed ended.

Should price move lower than my invalidation zone (1.8466 – 1.8508), then I will consider my analysis wrong and cancel this trade idea.

Until next time, happy and safe trading!

Regards

Richard Krugel

 

by Richard Krugel November 5, 2019
1 8

FTSE 100 Future - Threat stays higher

FTSE 100 Future Bullish

A surge Monday through multiple resistances including the 7324,5 recent peak and to close near the session high, to keep the threat higher Tuesday.

For Today:

  • We see an upside bias for 7377; break here aims for 7389 and 7406, maybe 7427.
  • But below 7343 opens risk down to 7323/22 and then 7291/90.

 

by Steve Miley November 5, 2019
1 6

TESLA - with nice earnings gap

TESLA

Good morning traders!

We had a great close on Friday hitting new highs after NFP news. At the moment the S&P500 futures is trading near session high which is at 3080. It’s a little extended so when the stock market opens, we might see some position covering which may lead to a small correction. Local support at 3055, next 3030s (E-mini).

Trade Ideas:

– TSLA had a nice earnings gap with continuation hitting 340.84 as local pivot high. At the moment its consolidating on channel range and retraced 50% of the post-earnings move. Watching Friday high at 316.48 as key breakout level is key in getting a  nice long on it. If we do move lower, next stop is 304.93 which is the high of the post earnings bar. You can use alerts in order not to miss trades.

– EA on a longer timeframe doesn’t look bad, its just tricky to trade. Probably there is a slow accumulation in this stock. Weeklies show a clear situation.

Aside from weekly it reported earnings not so long ago and the price didn’t move much which means there is still indecision from big holders but the results are good enough in order to not gap down considerably. At the moment it does look that its getting tighter on Daily bars and I would like to see a breakout on volume to the upside after we tested the supports around 92.50s – 93. Watch 98.50 level for a breakout of volume or start accumulating with stops under 92.

Additional Notes: Add RAPT, OYST and DUO to your watch list as recent IPOs for a breakout strategy.

Positions:

Twitter (TWTR) was a bounce trade from Friday that didn’t start to show profits yet. The stops are at 28.83. It did hold a 50% retrace from Thursday move so there is no reason to panic especially knowing you respected a good risk management. 🙂

TWTR H1

Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 4, 2019
1 6

AUDJPY - Approaching Strong Resistance Levels

AUDJPY Bullish

Entry 1: 76.00 – 76.30

Entry 2: 76.30 – 77.40

Good day traders. Today I want to take a look at AUD/JPY to figure out where price might be heading in the near to medium term.  

 

Weekly Timeframe

 

AUD/JPY has been trading downward within my green channel since the high back in April 2013. The green arrows on my weekly chart (above) were used to decide the angle and the width of my channel. The black arrows indicate that price found support once at my lower channel line and a few times at my center line.

 

I also drew a long-term Schiff pitchfork, using the blue arrows and starting at the October 2007 high. Price is currently approaching my center median line which has acted as support before and caused price to fluctuate above and below that line for about 3 years (green box).

 

Daily Timeframe

 

 

Price has been trading higher since the low back in August this year and might be on the way to target the previous highs around the 76.00 – 76.30 level. Above those levels we have the upper median line of my upward sloping pitchfork and that center median line of my long-term pitchfork, creating a resistance zone between 76.30 – 77.40.

 

Conclusion

 

My short-term outlook for the AUD/JPY currency pair is still bullish because price might still be drawn towards those previous highs, but I will be careful holding any long positions as price approaches the price zone I identified.

 

Whether price will end a correction, if it reaches my price zone, or simply trade lower before some more upside later on, remains to be seen. Just be aware of those major resistance levels and plan accordingly.

 

Until next time, happy and safe trading! 

 

Regards

Richard Krugel

by Richard Krugel November 4, 2019
1 7

AUDUSD - Bull bias intact

AUDUSD Bullish

A resilient, inside pattern consolidation Friday to sustain bull forces from Thursday’s rally up through various resistances including the key peaks at .6883 and .6895, PLUS from both the latter October and mid-October upside extensions, to keep the bias higher for Monday.

For Today:                                                        

  • We see an upside bias for .6929; break here aims for .6955, maybe even .6991.
  • But below .6879/71 opens risk down to .6845 and maybe .6806.
by Steve Miley November 4, 2019
0 5

Twitter - Started to show strength

Twitter Bullish

Good morning traders!

The market was showing some weakness yesterday with small cap (IWM) leading the drop. We are still in an up-trend with a major support pivot at yesterday lows. We are leading into the NFP news today so increased volatility both ways is expected.

Twitter (TWTR) has reported poor earnings not so long ago but started to show strength vs the market. Currently $29 held and we do see a good amount of volume as we are into weekly support area. Yesterday close was near 30s that confirms the bullish short-term sentiment.

I’m thinking of buying it vs yesterday low if the open will be near 30s mark. The first target is 32ish and the next is 34s.

Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 1, 2019
1 4

several currencies - Trade Ideas Review

several currencies

Good day traders. A new month is upon us and in today’s report, I would like to review my previous trade ideas.

  1. AUD/USD

AUD/USD (Chart above) came very close to testing my upper blue channel line and I decided to move my entry zone slightly higher to fall between 0.6930 – 0.7000.

Momentum on the MACD-Histogram is currently slowing down a bit, and a good idea would be to wait for a reversal candlestick first (after price moved into that zone), followed by the blue MACD line crossing below the orange signal line before you consider shorting this currency pair.

  1. EUR/JPY

EUR/JPY moved into the zone I identified, tested both my upper blue median line and upper channel line a few times, and reacted lower. A break below the 120.00 price level will be a good indication that a possible top is in place.

  1. CAD/CHF

Price dropped lower, following my projection, but the downward momentum has been very strong. I would like to see a move higher at some stage followed by another drop lower before I will consider entering a long position.

A ZigZag movement lower will also help me to narrow that entry zone by using my pitchfork as a guide.

  1. GBP/AUD

GBP/AUD entered my buy zone with an overlapping price structure which looks very corrective. Momentum divergence on my MACD-Histogram was very clear as price grinded lower. A break above the 1.8882 price level will raise the probability that a possible low is in place.

  1. GBP/CHF

Price remains stuck within a narrowing triangle formation, and I would expect a breakout to happen pretty soon. A break higher should drive price towards my entry zone, which remains between the 1.3000 – 1.3100 price levels.

  1. NZD/JPY

NZD/JPY might be targeting the most recent highs again, but I will have to wait for price to enter my price zone which remains between the 70.10 – 70.85 levels before I can start looking for an entry.

Until next time, have a great weekend!

Regards

Richard Krugel

by Richard Krugel November 1, 2019
0 3

DAX Future - Positive, despite a setback

DAX Future Bullish

Another spike lower and then a rebound again Thursday from just above the 12785 support level, from 12786.5, to hold onto upside forces from Monday’s strong rally to another new cycle high, to keep the bias higher Friday.

For Today:

  • We see an upside bias for 12947.5; break here targets 12979 and 13000 and maybe towards 13075/080.
  • But below 12845.5 opens risk down to 12786.5/785, maybe 12681.
by Steve Miley November 1, 2019
0 4

FTSE100 - Bull bias

FTSE100 Bullish

As on bother Monday and Tuesday, a dip and a rebound Wednesday for a positive inside pattern consolidation, to hold onto upside forces from last week’s strong advance through key 7297 resistance (and from the bull break from the Symmetrical Triangle consolidation pattern), to keep the bias higher Thursday

For Today:

  • We see an upside bias for 7324.5 and 7333; break here aims for 7359 and maybe 7377.
  • But below 7240.5 opens risk down to 7226 and maybe 7200/7196.
by Steve Miley October 31, 2019
0 3

NZDJPY - Potential Short Opportunity

NZDJPY Bearish

Entry 1: 70.10 – 70.85

Entry 2: 74.55 – 72.00

Good day traders. Today I want to look at NZD/JPY as it approaches a potential overhead resistance area. 

 

Daily Timeframe

 

On my daily chart (above), I have two channels. The upper channel line was drawn using the highs indicated by the dark green arrows and the channel width was set using the low indicated by the upward-pointing dark green arrow. The recent bounce higher, that started in August this year, reacted from the lower dark green channel line where price found support (black arrow). 

 

My second channel, in light green, was copied and pasted below the dark green channel and therefore has the same angle and width. Doing that shows that price has previously respected my lower channel as well, as indicated by the light green arrows.  

 

Price is currently approaching the center line of my dark green channel, and since price respected these channel lines for multiple years, we might see a reversal lower soon. 

 

4-Hour Timeframe

My 4-hour chart shows how close price is to that center channel line and if this move higher is a correction, then I would expect price to reach the upper median line of my Schiff pitchfork, which also intersects with a previous low (red dashed line) and the center channel line. 

 

I would ideally like to go short within the 70.10 – 70.85 price zone, which would be my preference but if price goes higher, then I might consider shorting within the 74.55 – 72.00 price zone.

 

Targets can potentially be placed around the October higher low and the August low. 

 

Until next time, happy and safe trading! 

 

Regards

Richard Krugel

by Richard Krugel October 31, 2019
0 3

S&P500 - E-Mini hits another new all-time high ahead of Fed Meeting

S&P500 Bullish

A probe to another new all-time high Tuesday and then a high-level consolidation, after Monday’s strong rally through the prior 3032.25 record peak from July, keeping the bias higher for Wednesday.

For Today:

  • We see an upside bias for 3046.25; break here quickly aims for 3050.0 and maybe 3063.5, even 3075/76.
  • But below 3027.75 opens risk down to 3016.75, maybe even 3000.0/2998.75.

 

by Steve Miley October 30, 2019
0 5

GBPCHF - Approaching overhead resistance

GBPCHF Bearish

A long-term view of GBP/CHF reveals that price is approaching strong resistance lines.

Weekly Timeframe

The current move higher, from the August 2019 low, is nearing the upper median line of my Schiff pitchfork as well as a downward sloping trendline. The August low found support right at my center median line after price broke slightly below the October 2016 low.

Price is currently trading at a 0.618% Fib retracement level, but with the 0.786% retracement level and both my trendline and upper median line above the current price action, we might see a test of the 1.3000 level before some serious resistance comes in.

Daily Timeframe

There seems to be a minor triangle formation unfolding right at my 0.618% Fib retracement level and since the intermediate trend is upwards, I would expect price to break out of the triangle and test the 1.3000 – 1.3100 price zone before possible resistance sets in.

Any indication of a reversal within that price zone will allow me to execute a short position with a tight stop above that zone. It will be impossible to say whether this entire move higher was a correction, so it would make sense to place a target at a level that offers at the very least a 2 to 1 risk vs. reward ratio.

Until next time, happy and safe trading!

Regards

Richard Krugel

 

by Richard Krugel October 30, 2019
0 3

AUDUSD - Risks back to the upside

AUDUSD Bullish

A Monday rebound to push above our .6845 resistance level and ease bear pressures from last Thursday’s selloff through .6831 and .6811 supports, to resume upside forces from the earlier October extension up above .6858 resistance, to keep the bias higher for Tuesday.

The mid-October surge just through the key .6809 level saw an intermediate-term shift to bullish.

For Today:                                                        

  • We see an upside bias through .6856; break here aims for .6870 and .6883, maybe even .6895.
  • But below .6818 opens risk down to .6806 and maybe .6776.
by Steve Miley October 29, 2019
1 9

GBPAUD - Direction: Long

GBPAUD Bullish

The GBP/AUD currency pair has reached important resistance lines, but the current market structure might suggest that more upside is possible.

Daily Timeframe

Price has been trading higher within a channel since the low back in October 2016 and has recently taken out a previous high at 1.8882. After that high was broken, price managed to reach the upper red warning line of my blue pitchfork and the upper median line of my purple pitchfork, where it ran into resistance.

A closer look at the move higher, from the July low, may suggest that there is more upside potential with the possibility that price may even reach my upper green channel line.

4-Hour Timeframe

If we are currently dealing with a correction, then support could come in within the 1.8620 – 1.8745 price zone. I would ideally not like to see price move lower than the green dashed horizontal line on my chart located at 1.8497, but a break above the red dashed horizontal line could see price target the high set on October 16th, or even higher.

Until next time, happy and safe trading!

Regards

Richard Krugel

 

by Richard Krugel October 29, 2019
0 6

USDJPY - upside risks

USDJPY Bullish

A prod higher Friday to build on Wednesday’s rebound from just below our 108.27/23 support area (from 108.22) and upside forces from the strong, mid-October advance and intermediate-term bullish shift through the key 108.45/48 peaks, to keep the bias higher for Monday.

A mid-October surge through the key 108.45/48 peaks signalled an intermediate-term bullish shift.

For Today:

  • We see an upside bias through 108.77/78 for 109.00; break here aims for key 109.32, maybe then towards 109.60/62.
  • But below 108.23/22 opens risk down to 108.02, maybe 107.85.
by Steve Miley October 28, 2019
1 6

CADCHF - Direction: Long

CADCHF Bullish

Good Day traders. Today I want to analyze the CAD/CHF currency pair to see if an opportunity to go long will present itself soon.

 

Weekly Timeframe

 

CAD/CHF has been trading sideways since 2016 with price contracting in a narrowing range (Chart above). The market structure, to me, resembles that of a long-term Symmetrical Triangle, which could have a bullish outcome. 

 

Price is currently trading at the upper trendline of my proposed triangle but what is unclear at the moment is whether this triangle has completed the final E-wave or whether another wave lower is on the cards. 

 

Daily Timeframe

 

 

I am always wary to just jump into a position, so my preference would be for price to trade lower again in a corrective structure before I will attempt to go long. Each individual wave of a triangle generally ends at a Fibonacci retracement level and another move lower towards the 0.7404 – 0.7490 price zone should provide me with an opportunity to go long.

 

Conclusion:

 

Another move lower, in a zigzag pattern will allow me to use my market geometry techniques to fine-tune my entry zone, but if price breaks out strongly to the upside, then I will have to wait for a corrective structure on my 4-hour chart to attempt an entry higher up. 

 

I will provide an update on this trade idea again soon. 

 

Until next time, happy and safe trading! 

by Richard Krugel October 28, 2019
1 4

Gold - bounce set up

Gold Bullish

Gold looks to be breaking up higher. This not a fundamental long-term gold call, but given the move higher above the trend line I see short term potential for gold.

Easiest way to express this view is via the Gold ETF, GLD. The chart shows how GLD moved above the short-term trend. Max short term potential would be reaching the 146 level. I think if gold is to move higher, it will do so rather quickly, so I think a call spread in the GLD gives an interesting risk reward with a given max loss level at entry. The November 143/146 call spread gives you a 4 to 1 max profit which I think is an interesting play on gold here.

by Aleksandar Adamovic October 25, 2019
2 7

AUDUSD - Potential selling opportunity

AUDUSD Bearish

Good Day traders. Another week is coming to an end, but before the weekend starts, I would like to show you my analysis on the AUD/USD currency pair.

 

Daily Timeframe

 

On my daily chart (above), it is clear to see that AUD/USD has been trending downwards since the high back in January 2018. There seem to be two different channels that worked well at containing price thus far. 

 

My purple channel was drawn using the two upper purple arrows, after which I anchored the lower channel line to the low back in January this year. 

 

Then, I used a blue channel that was drawn at a flatter angle using the two upper blue arrows and then anchoring the lower channel line to the CLOSING price of the January 2019 low.

 

Using these two channels shows that price found support after breaking the January low, right where the lower blue channel line and the center channel line of my purple channel crossed, on the 7th of August this year. 

 

4-Hour Timeframe

 

 

Since the larger market structure defines a downward trend, then I have to assume that price is currently correcting higher. I will not attempt to try and come up with some definite corrective pattern identification, but what I like to do is use my pitchfork to guide me into an area where this potential correction could end. 

 

If price can, therefore, trade higher again and move into the 0.6883 – 0.6950 price zone, then I will be interested in shorting this pair. Note that price has not yet broken above the peak that I labeled as A and that both my blue and purple channel lines are not too far above the current price. 

  

Conclusion:

 

A test of either of my channel lines, in conjunction with one of my pitchfork median lines, together with momentum divergence will be the ideal signal that it’s time to short AUD/USD. Price may even drop from here, at which stage I might attempt a lower entry but if the market follows my analysis and I wait patiently, then I will be ready to execute my plan. 

 

Until next time, have a great weekend. 

 

Regards

Richard Krugel

by Richard Krugel October 25, 2019
2 6

DAX - Another bull extension

DAX Bullish

Target: 13000

Entry: 12908.5

An advance Thursday through 12820 and a key longer-term level at 12840.5 to a new  surge Wednesday to a new 2019 high through 12808.5 to 12820 overnight after a bull break from the October, Symmetrical Triangle consolidation pattern, to reject Tuesday’s late selloff and reinforce positive pressures from the mid-October spike up to 12808.5, to keep the bias higher Friday.

The mid-October surge above 12249.5 set an intermediate-term bull trend.

For Today:

  • We see an upside bias for 12908.5 and 12925; break here targets 13000.
  • But below 12734 opens risk down to 12681, maybe 12637.

 

by Steve Miley October 25, 2019
0 14

EURJPY - Potential selling opportunity

EURJPY Bearish

Good Day traders. Today I want to cover the EUR/JPY currency pair for a potential swing trade to the downside.

 

I will first start my analysis with a bigger picture view of price action. The chart above is set to a weekly timeframe and you will see that I drew two different colored Schiff pitchforks. The blue pitchfork was drawn using the swings marked with the blue arrows, and the green Schiff pitchfork using the swings marked with the green arrows.

 

The decline from the July 2008 high, stopped right at the lower blue median line on July 2012. Then, the January 2018 high stopped right at the center median line of my green pitchfork and the 50% dashed blue median line of my blue pitchfork. 

Next up is my daily timeframe chart and it is evident that price has been trading lower within a channel (green). I used the green arrows as my channel anchor points and the low back in September this year found support at my center channel line. Note that we now have 3 different market geometry lines present at the September low, which acted as support and drove price higher.

 

 

When I zoom into price action, even more, using my 4-hour chart, then you will see that price has slightly breached my upper green channel line (drawn on the daily) in what could have been a corrective A-B-C move.

 

Since the EUR/JPY has been making lower highs on my daily chart, I would view the current market structure as corrective, with the longer-term trend still down. So, if we are dealing with a correction higher, then I would like to know where such a correction could end.

 

Pitchforks and channel lines work well to find the end of corrections, which is why I have used them again to try and identify a likely area where this proposed correction could end. The recent high on the 21st of October reacted lower from my upper channel line and has also found it difficult to break through my upper median line.

 

Momentum on my MACD-Histogram has also slowed down into that high. All of my analysis warrants that I can start looking for an opportunity to short EUR/JPY.

  

Conclusion:

 

 

Price has already reacted lower from that red zone on my 4-hour chart, but I will allow for another slightly higher high, to attempt a short or alternatively take a breakout trade at the recent lows around 120.50, which will be a more conservative entry.

 

Should price trade far above the recent highs, then I would move to the sidelines and reconsider my analysis.

 

More updates to follow.

by Richard Krugel October 24, 2019
1 10

EURUSD - upside risks into ECB Meeting

EURUSD Bullish

Target: 1.1191

Entry: 1.1154

  • The European Central Bank (ECB) Meeting should not provide too much in the way of new information today.
  • However, the market reacted positively to the last ECB Meeting (after an initial spike lower), as participants viewed the outcome as far less dovish than anticipated.
  • Should this them continue, the threat for EURUSD is to the upside.
  • This would be reinforced by the recent Euro strength on the back of Brexit deal hopes and US Dollar weakness, as in a current “risk on” phase, the US Dollar losses its safe haven appeal.
  • We see the risks for EU~RUSD skewed to the upside for today.

EURUSD: Still a rebound bias

A Wednesday small bounce from above 1.1100, to try to reject negative pressures from Tuesday’s setback and to hang onto upside forces from Friday’s surge through a notable August resistance at 1.1164 after Thursday’s strong advance through key 1.1110 (for an intermediate-term bull shift), to keep risks higher for Thursday.

For Today:

  • We see an upside bias for 1.1154; break here aims for .1183/91 then maybe 1.1229.
  • But below 1.1100 aims towards 1.1063.
by Steve Miley October 24, 2019
4 11

GBPAUD - Look for reversal

GBPAUD Bearish

Target: 1.82

Entry: 1.88

GBPAUD has been trading in an ascending channel for the last 2 years and is near the top of the channel currently. Every time it’s hit the top previously we’ve seen a reversal so there’s a good probability price will behave the same this time. A short position with an entry near the top of the channel has a great risk:reward ration and a good probability – set a tight stop loss just above the top of the channel

by steve rose October 22, 2019
2 18