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Overview of AUDUSD and potential trend exhaustion.I'm relatively new to trading, so take what I say worth a grain of salt. I am, however, looking for a mentor to help better understand the framework of a career in trading. To many untrustworthy people on the web to invest in advertised trade gurus. New Downtrend forming on the 1H AUDUSD could signal exhaustion in the uptrend that lasted throughout Q2. That being said, the pair has reached lows unseen since the early 2000s. Overall the pair has appeared significantly bearish for a long time, but it would come as no surprise if the AUD begins to climb back up. Positive commentary from the RBA and Australias proactive accommodations during the pandemic are all positive. The US is a crapshoot. We have very limited access to informative media considering the Election in November. That being said, the US also seems to do quite well in these positions. With our focus towards increasing exports, negativity for the US could actually turn into positivity for the Dollar. We are in uncharted territory, but the recent break of the Q2 uptrend seems to hint towards exhaustion in the short term for the AUD.
Short
by plexlab-trades
Are You New To Forex? Hi There, I'm Sam. I'm actually new to forex and only really started getting into it about last month, so have been trading for a month now and safe to say I did have a profitable first month, I know a lot of people find it hard to get started, and don't usually start with profitable months, however that's not something to be happy about straight away, because who knows if it will be consistent, could just be a false breakout. See I'm so into forex I'm using forex terms to describe my daily life, need someone to support me through this.. ahh I done it again. Nevertheless, I know this community is full of beginners, and also experts, so lets connect. It's always good to have a skillet, but its always better to combine a your skillset with another persons, why? Because it means you give yourself a broader capacity for learning. I'm no expert but some trades I have posted have been profitable & some have not. But we always take losses to help us learn to win. Regardless of all of this we have GBP/JPY here. This is one of my favourite currency pairs to date... (not literally, I mean like till now) But as you can see it has rejected the hourly resistance 6 times, and I feel like it may do again for this hour too, before dropping. However if there is a breakthrough, I think this time it will hold and go to the 134.000 mark before the bears re-enter the market. However, since it has rejected resistance 6 times, I feel more confident that it will drop before breaking the resistance and it will drop to at least the 132.000 mark or maybe a bit higher. But this is definitely one currency pair to watch. Let me know what you think of this analysis, as again I am new to forex so I may be missing something.. also if you're new to forex or are still learning lets talk.. the more ideas we combine the higher we can strive in these markets!
by SJFXT
4
LONG ON RELIANCE INDS (NSE)This analysis is only for educational purposes, Invest at your own risk! A strong uptrend can be seen in Reliance Industries , I personally think that the stock will show an increase in Price and Volume . The ON BALANCE VOLUME and MOVING AVERAGE Indicators Suggest an uptrend too. Therefore going long on 1459.40 INR (ENTRY POINT ) and targeting for some where between 1510-1550 (EXIT POINT ) could prove to be a positive trade. Cheers! P.S. This is my first publish ever
NSE:RELIANCELong
by Aditya_Singh21
4
Counter Trend Long (Bullish) Trade Setup for Coca-Cola NYSE:KO Coca-Cola has been on a bearish trend since March April, though has had some short term bullish runs of a few dollars during that stretch. We are going to attempt to pick up some returns with a short term trade that will ride this cycle of ups and downs during a bearish trend. Before getting into the trade setup, let's look at what the chart tells us mentally decide to get into the trade. What's been going on the last few weeks: This trade is setup on the one hour chart, but going up to a higher time frame chart provides some supporting information. If we go up to the daily or weekly level, we find a major structure level around 44.24. This support level has been relative since 2013. It was most recently tested at market open on April 21. The market has regularly tested this support level and is the one we are hoping holds strong for this trade as well. From April 21 to May 1, KO had a nice bullish run going from 44.24 to On May 4, KO hit a recent low-low around 44.68, but quickly rebounded to 47.84. After the double top, sellers won out and the price continued downward to 44.68 and rebound slightly into consolidation to 46.08 and closed May 5 down at 45.41. The trade: We are expecting or hoping for shares of Coca-Cola to come on down and retest the previous low of 44.24. This is the price where we will enter the trade. We are expect or hoping for the price to rise, so we will set a stop limit at a price lower than our entry price. We've created a kill zone, by looking left on this chart and higher time frame charts to see where structure is sustained. If the market price reaches the lower end of the kill zone, we believe the price of Coca-Cola will continue bearish and we will exit the trade. In this case, we've setup the stop limit at 43.95, just outside the kill zone to give the market to continue down after our entry price. We must be prepared to accept this loss if it occurs. 44.24 - 43.95 = .029 per share as a guaranteed minimum loss if this occurs (could be more depending on where the limit order is filled by your broker). We will set to limit targets on this trade - these are points where we will cash out our profits and exit the trade. Target 1 will be set at the previous level of consolidated structure - on this chart, we've determined that is around 46.08. When the market reaches this point we will sell 50% of the shares that were bought. Target 1 is setup on a 1.92 risk-reward ratio. Our potential profit is calculated as 46.08-43.95 = 1.40 per share. When Target 1 is met, we will roll our stops to the entry price or setup a rolling stop. Target 2 we've set at a higher previous structure level. In the case Coca-Cola gets a nice bullish run, we would like to take advantage of it. We will set Target 2 at the hourly close (near the double top) at 47.66. Once target 1 is achieved and the stops are rolled up, this is now a risk free trade with the potential of even more gains. Target 2 is setup on a 4.08 risk-reward ratio. Gains would be 47.66 - 44.68 = 2.98 per share. General Comment I'll be entering this trade in the trading view papermoney trader. Play along, let's see where this one plays out. All this is my first public idea, please let me know what you think. What do you think Coca-Cola stock will do? Disclaimer: I am not a You must be aware of the risks and be willing to accept them in order to invest in the Stock, Futures, Foreign Exchange and options markets. Don't trade with money you can't afford to lose. This website, product contents, and materials are neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on our website or in any materials. The past performance of any trading system or methodology is not necessarily indicative of future results. Substantial risk is involved. Stock trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. AS A MATTER OF CONVENIENCE, NOTHING CONTAINED IN THIS ARTICLE CONSTITUTES A SOLICITATION, RECOMMENDATION, PROMOTION, ENDORSEMENT, OR OFFER BY THE AUTHOR, OF ANY PARTICULAR SECURITY, TRANSACTION, OR INVESTMENT. RESULTS VARY AND PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RETURNS.
NYSE:KOLong
by cwfeldhaus
BTCUSD decision time, 6 or 7Scenario 1 (green) - the grey area gets passed and BTC heads towards the next big resistance @ 7K. Scenario 2 (red) - top line of the triangle (grey) acts as a resistance and BTC heads back to 6K. I am leaning towards 2 scenario and opened a small short @ 6530 with a tight stop. However, 4hr RSI chart shows that there is still some power left in that movement so 7K is also reachable imo. Will be adding more to my short once I get a confirmation that we are actually moving down. If I get stepped out I'll be on the sidelines. Good luck and stay safe!
COINBASE:BTCUSDShort
by maar3k
(I'm a newbie) Analysis of LTC EUR - Kraken - Renko - DailyJust learning and sharing so I can get some constructive feedback on what I am seeing and what I am not seeing in my chart analysis. If you think I am insane, that's cool. Just be sure to tell me why so I can learn :) I am doing my best to keep things simple and follow solid trends and retracements keeping trading/market psychology in mind. I made this analysis using Renko bars to get stronger trends on average price action. I used the green time span circles to get an idea of how the price action moves the market along and better understand where I might be able to find buy-in and take profit points. On the main chart, I pulled the time cycle from the beginning of the first large wave to the centre of the peak to get my estimated time frame for when I can expect the peak of the following wave. In the RSI, I pulled a fib retracement from the all time high in the RSI around the beginning of 2018. This showed me that all subsequent peaks in the RSI "uptraces" to the .5 on the fib. On the most recent wave in the RSI, I pulled a fib from the peak to the newly formed low - this showed me a that all previous peaks lined up with the .618. Using the time cycles tool, I identified that the predicted peak I created on the chart lined up exactly with the predicted peak on the RSI.
Long
by dbs2020