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Contractionzone

[EURGBP] Mid-term trading strategies#Forex #EURGBP #Daily #Midterm - Here’s EURGBP 1D chart. A lot of FX pairs have shown some high difficulty with frequent moves that are quite unpredictable. - As can be observed from the chart, there are a lot of noises, stop huntings, bull/bear traps, whipsaws, and long candle tails. - Consequently, such strategies with wider risk/reward ranges on higher timeframes are necessary in this type of market. - EURGBP showed a bear trap after breaking bottom of the green channel, re-entering into the channel again. - At the same time, it broke the black channel above and is currently testing resistance of the blue trendline and thus I will be bullish for a while right after it successfully breaks the blue trendline. - The resistances I am considering are 0.885~0.888 and 0.900~0.903 and trading setups can be designed as shown in the chart. - In shorter term, I am considering 0.848~0.851 significantly as a short-term bottom which is bottom of the green channel. If this area fails supporting, I would be bearish for a while. - A decent area to enter long is around the retest area of the black channel currently located at 0.836~0.839 and such trading setups can be implemented.
by Tommy_Trader
[Twitter] Will the blue bird fly high?#Twitter #Stocks #NYSE #Daily - Twitter, known to be world’s biggest social network platform recently had a good issue that Elon Musk has acquired about 9.2% stake. - If you look at the chart, about 70% bullish rally has appeared with a huge gap. - The black long-term upward parallel channel has been re-entered from the bottom and thus this bottom will be potential support for a while. - In Elliott Wave perspective, I think this impulsive bullish wave is B. If Twitter successfully break the blue falling channel and the orange downward trendline above, this scenario might be wrong meaning that I will be very bullish. - Until then, I would say buying in between my first support and the blue channel and orange trendline is not the best idea. - For those looking for a new entry to buy, it would be either breakout entry above or pullback entries at my supports at 44.60~46.60, 39.30~ 41.30, and 33.30~ 35.30. - Resistances that I am keeping my eyes on are 55.80~57.80, 62.40~64.40, and 68.40~70.40.
NYSE:TWTR
by Tommy_Trader
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