One Trade a Week

[TradeTheEasyWay]

Euro looks beaten up. Lots of data out tomorrow but since we need to meet the deadline tonight I will go with this one.

eurnzd
broken fib play zone looks set to test lows
Entry: 1.7875
Stop: 1.8160
Target: 1.7010

Just for the record, I think the S&P is in an apex of a wedge, could go either way. US$ is strong with gold - always a sign for a short to me when those 2 converge. So I will jump in if we break that apex.

Good luck to you all.

Mike :clover:

 

[Canto1922]

Back in to FRES
Long
1325
TP1330
SL1240

Support at 1300, move into gold & silver on back of further European & global uncertainties.

 

[isatrader]

Euro looks beaten up. Lots of data out tomorrow but since we need to meet the deadline tonight I will go with this one.

eurnzd
broken fib play zone looks set to test lows
Entry: 1.7875
Stop: 1.8160
Target: 1.7010

Just for the record, I think the S&P is in an apex of a wedge, could go either way. US$ is strong with gold - always a sign for a short to me when those 2 converge. So I will jump in if we break that apex.

Good luck to you all.

Mike :clover:

Thanks Mike, I think this is the biggest range of any of the currency pairs that have been traded so far - 175 points a day on average. Here's the targets for you.

ATR Targets

Daily ATR(200) = 0.0175 (0.98%)
Weekly ATR(52) = 0.0525 (2.94%)

-1x ATR: 1.8050
1x ATR: 1.7700
1.5x ATR: 1.7613
2x ATR: 1.7525

Good luck

 

[isatrader]

Back in to FRES
Long
1325
TP1330
SL1240

Support at 1300, move into gold & silver on back of further European & global uncertainties.

Are you sure about your target price??

 

[isatrader]

Back in to FRES
Long
1325
TP1330
SL1240

Support at 1300, move into gold & silver on back of further European & global uncertainties.

Thanks Canto, here's your ATR targets

ATR Targets

Daily ATR(200) = 50.25 (3.79%)
Weekly ATR(52) = 113.46 (8.56%)

-1x ATR: 1274.75
1x ATR: 1375.25
1.5x ATR: 1400.38
2x ATR: 1425.50

Good luck

 

[isatrader]

Hi tradeAweek, PI trading didn't update the SI futures data this week so I will use the ATR figure from your chart which was 0.9942

Here's your ATR targets:

ATR Targets

Daily ATR(200) = 0.9942 (2.85%)

-1x ATR: 33.91
1x ATR: 35.89
1.5x ATR: 36.39
2x ATR: 36.89

Good luck

 

[isatrader]

Ok, it's reminder time for anyone else that wants to join in this week. The competition starts in just under 2 hours at 10pm BST.

 

[Canto1922]

Sorry, target price should be 1390. Thanks!

 

[isatrader]

Week 17 Trades

Hi everyone. Attached is this weeks picks. Let me know if you need any changes

 

[wigtrade]

CPG (Compass Group) SELL

Warehoused Short

Weekly overbought and forming double top, daily completing second shoulder of h&s topping pattern?

Good luck all,
Cheers
Wig

 

[isatrader]

CPG (Compass Group) SELL

Warehoused Short

Weekly overbought and forming double top, daily completing second shoulder of h&s topping pattern?

Good luck all,
Cheers
Wig

Thanks wig, here's the initial targets based on Fridays close of 583.5

ATR Targets

Daily ATR(200) = 10.9 (1.87%)
Weekly ATR(52) = 25.74 (4.41%)

-1x ATR: 594.40
1x ATR: 572.60
1.5x ATR: 567.15
2x ATR: 561.70

Good luck

 

[isatrader]

Morning Slip, your limit order for the Dax was filled at 7150.

Here's the full trade details:

Trade Details:
Dax Index (DBI DAX)
Direction: Long
Entry: 7150
Stop: 6940
Target: 7350

Percentage Risk: 3.03% (-2.27% ATR Adjusted)
Target Gain: 2.80% (2.16% ATR Adjusted)

Risk Ratio: 0.92

Daily ATR(200): 92.54 (1.29%)
Weekly ATR(52): 227.96 (3.19%)

ATR Targets
-1x ATR: 7057.46
1x ATR: 7242.54
1.5x ATR: 7288.81
2x ATR: 7335.08

Good luck

 

[isatrader]

Morning Pat, your market order for Marstons was filled at the open at 109.6

Here's the full trade details:

Trade Details:
Marstons (LSE:MARS)
Direction: Long
Entry: 109.6
Stop: 105
Target: 115

Percentage Risk: 4.38% (-1.94% ATR Adjusted)
Target Gain: 4.93% (2.28% ATR Adjusted)

Risk Ratio: 1.12

Daily ATR(200): 2.37 (2.16%)
Weekly ATR(52): 5.31 (4.84%)

ATR Targets
-1x ATR: 107.23
1x ATR: 111.97
1.5x ATR: 113.16
2x ATR: 114.34

Good luck

 

[isatrader]

tradeAweek your limit order for Silver was hit at 34.9

Here's the full trade details:

Trade Details:
Silver (July Contract)
Direction: Long
Entry: 34.9
Stop: 32.9
Target: 39

Percentage Risk: 6.08% (-0.84% ATR Adjusted)
Target Gain: 11.75% (1.73% ATR Adjusted)

Risk Ratio: 1.93

Daily ATR(200): 0.9942 (2.85%)

ATR Targets
-1x ATR: 33.91
1x ATR: 35.89
1.5x ATR: 36.39
2x ATR: 36.89

Good luck

 

[isatrader]

I think I'm going to need to wait for a decent pullback to get into my S&P short as it's already moved a whole days range this morning.

 

[wigtrade]

CPG - Compass Group SELL

ENTER
Stop 592
Target 560

 

[isatrader]

CPG - Compass Group SELL

ENTER
Stop 592
Target 560

Hi wig, the entry time on the thread was 2.47pm so the entry price was 574.5

Here's the full trade details:

Trade Details:
Compass Group (LSE:CPG)
Direction: Short
Entry: 574.5
Stop: 592
Target: 560

Percentage Risk: 3.05% (-1.56% ATR Adjusted)
Target Gain: 2.59% (1.36% ATR Adjusted)

Risk Ratio: 0.85

Daily ATR(200): 10.9 (1.90%)
Weekly ATR(52): 25.74 (4.48%)

ATR Targets
-1x ATR: 585.40
1x ATR: 563.60
1.5x ATR: 558.15
2x ATR: 552.70

Good luck

 

[tradeAweek]

Silver in one choppy mess right now. Thinking of a triangle right now. Wondering whether I should hold it or fold it.

 

[isatrader]

An interesting day for the S&P 500. It dropped as I hoped it would and gave a daily sell-confirmed signal. So I now want to sell a pullback around the 50 day moving average which should hopefully now act as resistance. So I'm changing my order to:

Limit sell order @ 1328

 

[SlipperyC]

Risky move for my trade but I don't like the look of this market, so I'll move my stop to 7152 and lock in a miniscule profit.

[edit] I'll move my target to 7200 as well.