SPCE VIR AND XPEL!!! CHART PATTERNS EXPLAINED!!! BUY SIGNALSSPCE VIR AND XPEL I TALK ABOUT HOW TO TRADE THEM
Virtuestrading
Silver Setting Up for Another New RunSilver market is setting up for another bullish move. There is a nice gradual uptrend that has occurred over the last three weeks. This is the lead into the recent spike up over the last week.
These are all bullish signs. Now add in the crossover of the 14 Day Moving Average of the 30 Day Moving Average and you have another confirmation signal that is bullish.
The most compelling indicators are the pivots shown in the many colored dots. When the pivots are in a vertical setup close together like these, I call this the Pivot Stack. This stack of pivots are the Daily Pivot, Weekly Pivot and the Monthly Pivot along with the 6 Day Rolling Pivot Range. This is the key support that I am basing the anticipated move up.
I will go long here, about 14.650, and place the stop loss just below the Pivot Stack, 14.250, for a good risk reward trade. Happy Friday!
*See the Legend below for the Indicator Guide*
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Indicator Legend:
Daily Pivot Range-DPR (blue/magenta dots) | Weekly Pivot Range-WPR (orange/red dots) | Monthly Pivot Range-MPR (green/black dots)
6 Day Rolling Pivot Range-RPR (lime/yellow dots)
Daily Pivot Moving Averages-DPMA: red=14 day, yellow=30 day, white=50 day
GBPUSD Potential Blast Off or Sell OffThere are a few ways to view the current market conditions of the the GBPUSD.
The Pivot Stack shows us the bias is bearish. You'll notice the flattening DPMA 14 Day which could rollover and cross the DPMA 30 Day, a bearish signal. Hence, we will want to place an entry stop order on the breakdown of the support level to go short. This will allow a confirmation of the move down and a more conservative way to enter the short side.
Secondly, you could enter the market long right here at about 1.3040 and place a close stop loss just under the support level of 1.2997. In addition, you could place a reversal stop loss order at this same level to exit your long and then go short. Your risk is 40 pips with good potential to the upside or downside depending on how it plays out.
Important to understand:
The new MPR was released today as you can see, the price is sitting right on top of the MPR range and pivot. The MPR is very narrow: 1.3043 / 1.3042, which is rare to be so tight, and this is long term support/resistance, which means it is more significant as support or resistance than the shorter term indicators.
Either direction this decides to go, the move will likely be swift with strong momentum. The price tends to move fast off this type of support/resistance levels (MPR), and why I call it a blast off launching pad scenario.
In this particular setup we have all other pivots above the current MPR levels, which means the near term bias is bearish. But with the price right in the middle MPR, we don’t really know which direction this will go until it breaks out/off of the MPR level.
If the price decides to take off to the upside it could easily ignore all other pivot resistance levels and move like a rocket. If this occurs, keep an eye on the top of the Pivot Stack, around 1.3117 as this is near the high of the previous session and the high of the 6 Day RPR...it’s a key resistance level where the price could fail to move above.
But again, I would bet on the price rallying through this level on a blast off trade (aka Justice trade). Watch the momentum and speed that the price moves. This would be an important factor in determining whether or not to add to the long position. If you get long, look to add to the position just above the resistance, maybe 1.3120, to pyramid your position.
Happy Trading
*See the Legend below for the Indicator Guide*
IF YOU THINK THIS STUDY HAS VALUE, PLEASE FOLLOW ME AND LIKE THE CHART.
Thank you for your support – I look forward showing you many more studies like this that can help you with your trading.
Indicator Legend:
Daily Pivot Range-DPR (blue/magenta dots) | Weekly Pivot Range-WPR (orange/red dots) | Monthly Pivot Range-MPR (green/black dots)
6 Day Rolling Pivot Range-RPR (lime/yellow dots)
Daily Pivot Moving Averages-DPMA: red=14 day, yellow=30 day, white=50 day
GBPUSD Searches for Higher HighsWe have a very nice and supportive Pivot Stack with the WPR, DPR and 6 Day RPR overlayed on top of each other. Your entry can occur at these levels around 1.3172 and place a stop loss below the Pivot Stack which simultaneously coincides with the previous day's low.
This is a good risk reward trade. But there are some risks as the price failed miserably a few days ago in a steep drop. So we don't want to push our luck and should be comfortable with a profit target near the previous swing highs. Once we get there (if), then we can evaluate what to do depending upon our Pivot indicators' levels. Stay tuned:)
Remember to relax with these trades. We are using stop losses and Daily charts. This means we do not have to get too worked up with anxiety over volatile, intraday price movements. Let the market do its thing and we will do ours...we trade every trade with a plan by using the Pivot Stack indicators to plot our next moves!
*See the Legend below for the Indicator Guide*
IF YOU THINK THIS STUDY HAS VALUE, PLEASE FOLLOW ME AND LIKE THE CHART.
Thank you for your support – I look forward showing you many more studies like this that can help you with your trading.
Indicator Legend:
Daily Pivot Range-DPR (blue/magenta dots) | Weekly Pivot Range-WPR (orange/red dots) | Monthly Pivot Range-MPR (green/black dots)
6 Day Rolling Pivot Range-RPR (lime/yellow dots)
Daily Pivot Moving Averages-DPMA: red=14 day, yellow=30 day, white=50 day
Bullish Setup for USDCHFWe will want to see a retracement to find a more favorable entry. With yesterday's strong move up, it would be prudent to find a better entry on the pullback into the Pivot Stack. The support is intact and with the bullish Hammer I think this is a good Risk Reward trade.
Note the downward DPMAs, but remember this indicator lags so it's ok to enter with conflicting indicators. We will want to target our profits before the Monthly Pivot Range as shown on the chart. The new month will start next Monday so we will get a good look at the new levels of support and resistance for the longer timeframe.
*See the Legend below for the Indicator Guide*
IF YOU THINK THIS STUDY HAS VALUE, PLEASE FOLLOW ME AND LIKE THE CHART.
Thank you for your support – I look forward showing you many more studies like this that can help you with your trading.
Indicator Legend:
Daily Pivot Range-DPR (blue/magenta dots) | Weekly Pivot Range-WPR (orange/red dots) | Monthly Pivot Range-MPR (green/black dots)
6 Day Rolling Pivot Range-RPR (lime/yellow dots)
Daily Pivot Moving Averages-DPMA: red=14 day, yellow=30 day, white=50 day
GBPJPY Continuation Uptrend This looks like a good trade with the Pivot Stack and support from other Pivots. However, the uptrend may be exhausting with the outside day candlestick as shown. The next day showed a lower low as well which is a sign the price momentum may be weakening. This is a good study to identify a mid probability trade that may not be worth taking a risk on, or at least not until the price breaks out to new highs.
USDJPY - Buy the Breakout Move!You can see the move out of the support area of the 6 Day Rolling Pivot Range and Weekly Pivot Range. This is called the Pivot Stack. The closely associated pivot ranges provide a stacked range of support that is stronger together than if the pivot ranges were separated and much farther apart.
*See the Legend below for the Indicator Guide*
After a dip, the price has remained above the Daily Pivot Range (DPR) which is key to see the near term bias holding to the long side. You can enter here as we are approaching the latter hours of the session and strength in price seems to be holding.
A more conservative approach would be to wait until the end of the session to determine an entry, once we see at what level the DPR is at for the new session. This will be the key determinant as to whether or not to go long as there is still a possibility the price could correct back below the current DPR level which would turn the near term bias to bearish.
If the next session's DPR is below the opening price this will be a continued bullish bias and a good time to enter long.
Good crossovers with the DPMAs turning upward which of course is bullish.
Will update as we move forward in time.
IF YOU THINK THIS STUDY HAS VALUE, PLEASE FOLLOW ME AND LIKE THE CHART.
Thank you for your support – I look forward to showing you many more studies like this that can help you with your trading.
Indicator Legend:
Daily Pivot Range-DPR (blue/magenta dots) | Weekly Pivot Range-WPR (orange/red dots) | Monthly Pivot Range-MPR (green/black dots)
6 Day Rolling Pivot Range-RPR (lime/yellow dots)
Daily Pivot Moving Averages-DPMA: red=14 day, yellow=30 day, white=50 day
LONG BTCUSDT - Time for a Bullish Breakout!At the start of the new session we have a convincing setup. You can see the Daily Pivot Moving Averages turning upward.
The Pivot Stack of the Daily Pivot Range and the Weekly Pivot Range are key support. This is a potential launching pad forBitcoin 0.31% .
However, the 6 Day Rolling Pivot Range is smack in the middle of the current candlestick body indicating a possible failure of the the price movement higher.
Hence, only enter the market on a breakout above the nearby resistance of the last hourly candlestick .
*See the Legend below for the Indicator Guide*
IF YOU THINK THIS STUDY HAS VALUE, PLEASE FOLLOW ME AND LIKE THE CHART.
Thank you for your support – I look forward showing you many more studies like this that can help you with your trading.
I will follow up with more information as the trade progresses.
Indicator Legend:
Daily Pivot Range-DPR (blue/magenta dots) | Weekly Pivot Range-WPR (orange/red dots) | Monthly Pivot Range-MPR (green/black dots)
6 Day Rolling Pivot Range-RPR (lime/yellow dots)
Daily Pivot Moving Averages-DPMA: red=14 day, yellow=30 day, white=50 day
EURUSD Holding Pattern Until BreakoutThe setup here is in a neutral zone until the market shows its hand. As you can see there are a few failed attempts to go higher above the key resistance level. The long candlewicks are a sign the market could be turning over. However there is key support on the 6 Day Rolling Pivot Range (RPR) and this gives us pause on a short position.
In other words we will need further confirmation as to whether we will commit long or short. This will be determined by a few factors.
1. Does the market close above the resistance or below the support as shown on the Daily chart
2. The Pivot Ranges adjust daily so keep a close watch on these. Has the Daily Pivot Range (blue/magenta dots) moved above the candlestick or below the candlestick is the key element to watch. This will determine the near term bias for long or short.
3. The same rule applies for the longer term 6 Day RPR (green/yellow dots). Each day watch for the adjusted level to determine the bias or shift in bias of the market to bullish or bearish.
The Daily Pivot Moving Averages (DPMA) are a lagging indicator but do provide a good indication of bias, particularly when a crossover occurs recently as has the 30 day crossing the 50 day DPMA (yellow crossing white lines). In this case the bias is bullish.
Finally, you will notice the pivot stack of the Weekly and Monthly Pivot Ranges which show us the longer term bias is to the upside. These indicators show us the price has support at these longer term ranges but could be tested if the price closes below support.
Stay tuned as we await new trading days to determine our outlook for a possible long term trading position for the EURUSD.
Indicator Legend
Daily Pivot Range (blue/magenta dots) | Weekly Pivot Range (orange/red dots) | Monthly Pivot Range (green/black dots)
6 Day RPR (lime/yellow dots)
Daily Pivot Moving Averages (DPMA): red=14 day, yellow=30 day, white=50 day
Long 'A' Up Trade With Pending RPR Confirmation - PrudenceAs you can see on the chart the 'A' up trade signal has been given but has drifted the last few hours. The only way to prudently get long at this point would be to buy on a close above the key resistance of the 3 Day Rolling Pivot Range (RPR) as shown on the chart.
Once the price pushes higher bring the stop loss up to the Daily Pivot Range low.
This is a good way to see a potential trade despite the market not taking off at the time the trade signal was shown ('A' with the up arrow). This trade still has merit but must reveal a confirmation to the upside before taking a new position.
Go Long USDJPY on 'A' Up Trade - PrudenceThe bias remains to the upside for the short term with the price
trading above the Daily Pivot Range (blue dots), therefore this level
is key support.
With this bias to the upside our ‘A’ up value line is our first entry
point for the day.
The 14 Day Pivot Moving Average (red) is turning up, and crossing the
30 Day Pivot Moving Average (yellow) and this is bullish.
The action to take is to enter and go long if the price trades at or
above 109.27 for at least 15 minutes. Use a shorter term chart like 5
minutes to confirm this. Once, this rule has been met use discretion
to get as close to 109.27 as possible. Sometimes the price may rally
quickly from this level so be careful not to buy on a spike, so if the
price has moved to far, look for a retracement for a better entry.
Place the stop loss at the Opening Range low of 109.088 and the profit
targets as stated below.
Note: If triggered, look for the trade to play out over a period of
24-36 hours and if no significant move after 3 hours, exit the trade.
Entry Price: 109.27
Stop Loss: 109.088
Profit Targets: First profit target 109.69. Once first profit target
is reached, bring stop loss to breakeven, then trail a stop loss on
remaining position 15-20 pips behind to safeguard profits.
Litecoin Remains Bearish - LTCUSD The price for LTCUSD remains with a bias is to the downside with the price trading below the 3 day Rolling Pivot Range (green, yellow dots). However the Daily Pivot Range (blue dots) are neutral at the time of this writing with the price action staying inside the range for the past few hours.
With today’s Opening Range (whiter background) also holding resistance be careful about buying at this moment.
Daily Pivot Moving Averages (red,yellow, white lines) remain pointed downward which is bearish on this 60 minute chart. As well the 14 day and 30 day Daily Pivot Moving
Average crossed the 50 day Daily Pivot Moving Average. This is bearish on a longer term basis.
The action to take is to place sell stop entry at 16450 below the recent low, and if triggered place the stop loss and profit targets as stated below.
Note: this trade recommendation is good for today and will expire at UTC 0800.
Entry Price: 16450
Stop Loss: 17903
Profit Targets: First profit target 15450, 2nd profit target at 14450. Once first profit target is reached, bring stop loss to breakeven.
LTCUSD Go Long Off Launch Pad - JusticeWith the market trading in a narrow channel for days now, the time was ripe for a strong move. The key support of the Daily Pivot Range and Opening Range provides the bias to the upside with price holding above this support.
What gives this trade even more catalyst is the narrowness of the Pivot and Opening ranges. With the new session opening with another set of narrow Pivots and Opening Range, and price holding above these levels, it is clear this is a time for Justice. That's the name I give to these less common setups that serve as launching pads for high returns and super low risk. You can get Justice from previous losses with some big moves and speedy profits.
Enter the market when you see this setup at market price or an aggressive limit order to be sure you get in.
When these moves occur they are fast and sharp. However, they will often pause and give another opportunity to enter in case you missed the first move. But almost always there is plenty of follow through to much higher levels and greater profit.
In this case the green 'A' value line is in a good position to confirm the move by providing a signal to go long according to our entry rule of another one of our setups, called the Prudence setup, or 'A' up trade.
This second confirmation is a very good reason to increase your position size because the probabilities of success are so high.
ETHUSD Poised for Another Leg UpTake a look at the chart and see analysis. By our first rule, the entry needs to be confirmed by trading at or above the 'A' level. However this breakout is happening with new all time highs and would warrant entry at this time with the nature of cryptocurrencies, particularly the inability to short this market.
ETHUSD Shows Hammer Candle - Go Long - FortitudeThis same setup is occurring in most other cryptocurrencies, BTC', LTC' etc. This trade takes guts and why I call it the Fortitude setup.
Go long a break above the high of the Hammer Candle.
ETH/USD to Test 800 to New Highs or Major 'A' Up Fail TradeHere you can see the setup occurring if the entry rule is met. The price must trade at or above the 'A' value line for a minimum 15 minutes to validate a long signal. Beware the 800 level which could be the catalyst to explosive upside or provide an 'A' up failure trade which would make a significant correction to the downside.
New Highs Readied for BTCUSD?The price action is setting up for a renewed bullish move up. Our entry rule must be met in order to go long. The rule is: the price must trade at or above the 'A' value line of 17850 for at least half the Opening Range of 30 minutes. So, if in 15 minutes the price completes this action, we can go long. Then place stop loss at the Opening Range low of 17734. Stay tuned. If the price holds support above the Pivot Range (blue dots) the rally could ensue, and to new highs.
ETHUSD Setting Up for Bullish MoveThis chart shows the importance of the Opening Range, Daily Pivot Range and the Daily Pivot Moving Averages, particularly in unison. Setting up nicely for a good move up if the key resistance level 720 can be broken.
RIOT Blockchain Inc. bullishSee the setup for a bullish scenario with pullbacks possible to cover previous gaps up, creating buying opportunities. Often times the gaps in price action will have a tendency to be covered by future price action. These areas act as support and resistance and magnets for price action to retrace and afterward continue the underlying trend.
ETHUSD go long at/above 'A' value line setup - PrudenceSimilar to the LTCUSD trade setup occurring here:
See if you can identify the same rules in the setup we see in the LTCUSD chart on this setup with ETHUSD.
This is the value of this system, very easy to identify high probability trades with excellent risk reward.
LTCUSD Go Long above 'A' value line - PrudenceThis is another classic 'A' up trade with the price action rule to trade above the 'A' value line (green line) for half the Opening Range (white dots) time to validate a long signal. Yes we are extended on the upside but the signal is setting up clearly. All other resistance is breached above the Daily Pivot range (blue dots) with the Daily Pivot Moving Averages pointed up at a strong upward angle.
Go long BTCUSD with all resistance removed - PrudenceThis is a classic 'A' up trade. Good risk reward ratio of 3.1:1
Stop loss at 11530.51 and trail your stop once it takes off. Profit target is somewhat open at this point - uncharted territory!
Learn more at my site on how to trade this method.
Go long on breakout new high above 'A' value line - PrudenceAs price has moved through the Pivot Range and the Opening Range, with Pivot Moving Averages pointing up and good separation, this is a clear buy signal. A little premature without the confirmation of 15 minutes for the 'A' value line to give the proper 'A' up signal.
