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USDJPY Long - FlashcardUSDJPY Long - Direction: In a Bullish Cycle on the H1, showing Bullish Momentum in Level 2 of the cycle. Entry: Pins and bounce off the 800 EMA indicated a possible low and after the low was held for over an hour, a W pattern formed, enticing me to enter. In addition, a shark-fin was seen indicating it was going to rise. SL 15 pips below Trade Open (7 pips below current low), and TP 60 pips above Trade Open. The reason for my TP being at this point is because I saw the RSI Line cross the Trade Signal Line, and the RSI Line also did a shark-fin as it was overbought (at the 83).
Long
by FotiosDimitriou
2
AUDUSD Short - FlashcardAUDUSD Short - Direction: Multi-Session M PFH (peak formation high) on the 23rd-24th, and then 1 vector drop down into level 1. In addition, I see bearish momentum on the H4 and H1 time-frames. Entry: Dotted line on chart indicated the high held throughout the day (as no candle closed above), and the candles respected the 200 EMA, and did not close above it. Furthermore, the pattern shown on the M15 and H1 was a Double-Top formation, which included divergence as shown on TDI, so I entered once the pattern formed. SL was @ 21 pips above Trade open (just above YH), and TP was @ 32 pips below Trade open (just above YL).
Short
by FotiosDimitriou
AUDUSD Short - FlashcardAUDUSD Short - In a bearish cycle on the H1, at level 2, where the momentum is still bearish. Therefore, next possible buy zone is at the bullish OB @ around 0.681. The chart on the M15 showed a Double Top formation indicating resistance (cycle is bearish), as price would not break that point, then the pin off the 800 EMA confirmed the trade which was opened on the M15 for a precise entry. SL was 7 pips above high of the day and 15 pips above Trade Open. TP was 40 pips below Trade Open @ YL.
Short
by FotiosDimitriou
Flash note: PSG GroupFlash note on PSG from our Unum Trading Desk analyst, Lester Davids. "Around current levels, PSG is showing a technical willingness to break above the resistance level of R235, which is just below the 200-day moving average. The price has started to make higher lows and is trading above the 21 and 50-day moving average, both of which are pointing higher. With the 200dma at resistance, it is possible for the price to re-test the upward trend line before regaining the 200dma." For more information contact the Unum Trading Desk on +27 (0)11 384 292, [email protected] or our real-time chat t.me
PLong
by MarkWeetman
Break-out and retest (BAT & LHC)A short technical note from our Unum Trading Desk analyst, Lester Davids. "On the Brait (BAT) chart, following the test and breakout of the downward trend line, the price has given us a small 3-day pullback, with a positive close yesterday. The RSI is starting to move out of oversold territory so there could be a potential buy/long opportunity on the share . A great recent example of a breakout and re-test was Life Healthcare (LHC) on the right hand chart." If you want to chat about these charts, or any local South Africa stocks, contact our Unum Trading Desk on tradingdesk@unum , call +27 (0)11 384 2920 or live chat with us on t.me
JSE:BATLong
by MarkWeetman
Flash note Dis-chem Pharmacies Ltd (DCP)Trade with caution on DCP, warns our Unum Trading Desk analyst Lester Davids! "The upward price momentum is strong however we trade just above the 200dma as well as at the prior support that was in place from November 2017 to May 2018. We also have an open "gap" at 3525c from the "gap" down on 4-May. The share now commands a 42 P/E . I advise caution on any new longs, possible the stock is a pending Short?" If you want to discuss these trading ideas, contact our Unum Trading Desk on +27 (0)11 3842920 or [email protected]
JSE:DCPShort
by MarkWeetman