22
Aug

British Pound Set to Soar

British Pound - GBPJPY


British Pound - GBPNZD



The British pound has been getting pounded since Brexit but a bottom has been formed and a sharp rally is near. I have two confirmed buy signals on the daily charts, so a big trade is in order. The pairs with confirmed buy signals are the GBPJPY and the GBPNZD.

GBPJPY entry at 131.72 with profit target of 139.00
GBPNZD entry at 1.8061 with profit target of 1.8800

I only have catastrophic stop losses in for both as I want it to have room to run for the next few days or weeks without constantly getting stopped out from over-trading and overthinking the move higher.

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PLEASE NOTE: THIS IS AN ELLIOTT WAVE BLOG EXPRESSING AN OPINION AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. TRADE AT YOUR OWN RISK.


Principle Analysis: an Elliott Wave Blog for Forex Signals, Futures Signals and Stock Signals

19
Aug

August 18 Emini Intraday Trading Levels Update

Aug 18, 2016: 11:12 AM CST

A short-term trading range for the @ES futures – similar to July – is repeating in August.

Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades:

Here’s a reference guide of how to use and trade from these morning updates.

In the membership we’ve been highlighting the “Repeat Range” pattern (not seen in the chart above).

The main idea is that the July low-volatility intraday range environment is repeating now into August.

We had 2,185 and 2,175 as easy-to-remember range reference levels and so far they’re working well.

For the rest of today, use 2,185 as your bull/bear pivot level for trade planning.

Want these levels and additional analysis/strategy planning in advance each evening?

Get these levels in advance with in-depth planning and trading opportunities by joining the Daily Membership.

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Corey Rosenbloom, CMT

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Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).


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18
Aug

Midday Successful Emini Fibonacci Bounce Update

Aug 17, 2016: 12:48 PM CST

Here’s a quick mid-day update of the point-perfect Fibonacci Retracement Level reversal for the @ES today.

Note the 50% Retracement as today’s low and reversal point:

Using the swing high and low, the simple Fibonacci Grid above listed the 50% retracement at the 2,166/2,167 level.

At the moment, that’s precisely where we’re seeing the midday reversal.

Fibonacci Levels are important for intraday traders as they serve as target to play “toward” and reversal spots to play “away from.”

Nothing’s perfect, but these levels can be very helpful in guiding your trading decisions as short-term traders.

Want these levels and additional analysis/strategy planning in advance each evening?

Get these levels in advance with in-depth planning and trading opportunities by joining the Daily Membership.

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Corey Rosenbloom, CMT

Afraid to Trade.com

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Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).


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17
Aug

Elliott Wave S&P Futures

S&P Futures



The market has followed my projected path (red lines more or less).  I don’t think a top will occur until 2200 is hit. It’s summer time and super slow so expect the market to float around for a few more weeks.  I do have confirmed short signals in the Nasdaq 100, Dow and S&P cash indexes on the 130 minute charts. But I don’t think a decline will start until 2200 is tested. in the S&P futures.  I’ll be back when something happens that matters.

Please support the blog and like this post :-)

PLEASE NOTE: THIS IS AN ELLIOTT WAVE BLOG EXPRESSING AN OPINION AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. TRADE AT YOUR OWN RISK.


Principle Analysis: an Elliott Wave Blog for Forex Signals, Futures Signals and Stock Signals

11
Aug

NVIDIA NVDA Keeps Impressing with New Uptrend Highs

Aug 11, 2016: 3:08 PM CST

NVIDIA (NVDA) continues its strong bullish uptrend, giving us another example of the superiority of our “Strong Stocks Getting Stronger” concept of swing trading.

Here’s the ongoing uptrend on the Daily Chart with a caution as seen from the Hourly Chart we should know:

NVIDIA will report earnings after the close Thursday so be sure to note the updated price reaction after the close.

For now, we have a strong bullish uptrend in motion from the February 2016 reversal.

Price more than doubled from the $ 25.00 level to the current high near $ 60.00 per share.

While the uptrend is strong, note how overextended price remains from its 20 day EMA and the persistent negative momentum divergence as shares approach the $ 60.00 level.

Here’s our “Pay Attention” Signal from the Hourly Chart:

We see numerous bullish retracement trades triggering on the movement up toward the $ 60.00 level.

However, momentum failed to keep pace with price as it formed lower highs during the intraday uptrend.

This locks in a Negative Momentum Divergence and makes us cautious, expecting a possible pullback to the rising 20 day EMA.

However, $ 60.00 will be the critical pivot and if earnings are much better than expected, buyers may overrule the caution signals from the divergences to bust price through the $ 60.00 Round Number target.

Either way, it should be interesting!

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Corey Rosenbloom, CMT

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Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).


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10
Aug

New Emini Fibonacci Retracement Grid August 8

Aug 8, 2016: 11:38 AM CST

Price jumped higher into the 2,180 @ES level this morning and (so far) pulled back from this pivot.

Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades:

Here’s a reference guide of how to use and trade from these morning updates.

We still can’t use our larger Fibonacci Retracement Grid levels WITHOUT an actual larger retracement.

We STILL haven’t seen a decent (more than 23.6%) retracement since late June!

Nevertheless, we continue to update our short-term Fibonacci Retracement Grid levels especially when price makes a new high.

For now, the key focal points for today’s session are the 2,180 high level and the 2,172 Fibonacci Level (23.6%).

Want these levels and additional analysis/strategy planning in advance each evening?

Get these levels in advance with in-depth planning and trading opportunities by joining the Daily Membership.

Afraid to Trade Premium Content and Membership

Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.

Corey Rosenbloom, CMT

Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).


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8
Aug

GoPro GPRO Boldly Breaks Resistance into Bullish Zone

Aug 8, 2016: 11:51 AM CST

We’re seeing GoPro Inc (GPRO) flash on our stock scan this morning as it’s breaking above key price resistance and the 200 day SMA.

What’s going on and what’s the possible play from here?  Let’s see!

At Afraid to Trade we look for “strong stocks getting stronger” and absolutely avoid trying to find alluring reversal points in “weak stocks in a downtrend.”

At this point, GoPro (GPRO) has proven itself with multiple bullish factors that culminated in a big breakout this morning.

Note the positive divergences, build-up in volume, and reversal into an uptrend from May to August.

We’re focusing on today’s bullish breakout above the 200 day SMA (red) and two prior price highs at the $ 14.00 per share level.

For swing and longer-term traders, GoPro is a buy/bullish candidate as long as it remains above the key $ 14.00 level.

We’ll keep watching and potentially trading this candidate into the “Open Air” beyond $ 14.00.

A simple upside target – into the future – would be the $ 20.00 level (a Round Number and prior high from January).

Either way, continue watching this stock and what happens immediately here at the $ 14.00 critical price point.

Afraid to Trade Premium Content and Membership

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Corey Rosenbloom, CMT

Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).


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7
Aug

Jobs Report Breakout to New Highs Emini Update Aug 5

Aug 5, 2016: 11:41 AM CST

Breakout!  Short-Squeeze!  Better than Expected Jobs Report!

Buyers took control away from the bears today, propelling the market higher and triggering a short-squeeze.

Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades:

Here’s a reference guide of how to use and trade from these morning updates.

We still can’t use our larger Fibonacci Retracement Grid levels WITHOUT an actual larger retracement.

With price breaking out to new highs, we’re again in a spot where we can’t use lower Fibonacci Grid Levels until we get a retracement.

Until then – via our member planning – we’re bullish for a breakout and short-squeeze event above 2,170.

Want these levels and additional analysis/strategy planning in advance each evening?

Get these levels in advance with in-depth planning and trading opportunities by joining the Daily Membership.

Afraid to Trade Premium Content and Membership

Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.

Corey Rosenbloom, CMT

Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).


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5
Aug

Join Corey for a Live Trading Challenge at the San Francisco Money Show August 24

Aug 5, 2016: 12:43 PM CST

I’m so excited about this opportunity!

Join me live as I accept a live, real-money trading challenge with Rob Hoffman at the San Fransicso World Money Show!

Our trading challenge will take place Wednesday, August 24 and during the competition, we’ll discuss trading strategies, how we take our trades, and of course the live management of our trades.

It’ll be fun AND educational.

Here’s the information and details below:

Beyond our competition, you’ll be able to visit panels, the exhibit hall, and meet your fellow investors and traders.

It’s a great opportunity to network and learn new techniques and strategies, as well as get real-time market analysis from leading investors.

Don’t delay – register now and join us live!

And good luck to Rob!

Corey


Afraid to Trade.com Blog

4
Aug

Crude Oil Finally Bounces and May Reverse Short Term Downtrend

Is Crude Oil @CL Snapping its Downtrend?

After a persistent swing down from $ 50.00 toward (and under) $ 40.00 per barrel, is price finally reversing?

Let’s start with our Color Structure Grid this morning:

A downtrend is a series of lower lows and lower highs, usually defined by moving averages or trendlines.

That’s been the case on the price pathway down from $ 50.00 toward $ 40.00.

However, short-term (intraday) downtrends can’t last forever and eventually price reverses.

Momentum and today’s strong bullish swing suggests a chart reversal especially if price remains above $ 40.00.

Note the lengthy divergence and breakout beyond the 50 EMA (blue) on the 30-min chart along with the color-code flipping strongly green today.

Here’s a pure-price perspective of the same movement:

The downtrend has been persistent and powerful and has taken Crude Oil under the simple $ 40.00 target level.

Now, we may be seeing a BEAR TRAP which triggered on today’s gap-up and rally away from the sub-$ 40 price.

If you’re trading Crude, look to be bullish beyond $ 41 with a generally bullish short-term bias as long as price is above $ 40.50 and $ 40.00 per barrel.

We’ll cover this more and highlight trades along the way for our Weekly Intermarket Members (join us!).

Afraid to Trade Premium Content and Membership

Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.

Corey Rosenbloom, CMT

Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).


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