We are back with ideas for the upcoming trading session.
First of all let’s have a look at how the previous ideas worked out.
The recommendation for EURUSD was to go long if the price holds above 1.1340 and the price actually held above this level and hit the first target at 1.14.
Another Idea was to go short on GBPUSD if the price reacts to the key resistance level around 1.2650 and as you can see the price formed the pattern and hit the first target at 1.2540.
CADUSD: I recommended to go long and as you can see the price hit my first target at 1.36
NZDUSD: My recommendation for this instrument was to go long if the price bounced from the level at point 6520. And the price hit target at point 6550.
For GOLD I recommended you to go long from a longer term perspective and the first target around 1900 – you can continue holding the position.
PYPL – my recommendation was long, but unfortunately the price hit my Stop Loss. But as you know in trading there are times when something doesn’t work perfectly. It happens.
And the last idea was about SNPS – and as you can see the price bounced from our level 1.90 that’s why I can say that this idea is still working. The first target will be about 2.04 USD/Share.
Now, let's move on to the upcoming session.
For this trading session I’m going to be looking at EURUSD – it is very bullish. Analyzing the situation on the market can say that this instrument has formed an impulsive breakout from 1.14 level that’s why I expect a pullback to that level, formation of fractal and there will be nice opportunity to long trades. And in this case I’m expecting it to hit the level of 1.1480.
Another idea is on GBPUSD. This time the price is inside an important level at about 1.26, that’s why we have to wait how the price will break it: I mean if you’ll see that he price holds above this level it will be nice to long trade and the target will be at 1.2660; however if the price will form a false breakout and hold below – go short, and I this case the first target will be at 1.2520.
Another idea is for Adobe Stocks (ADBE) – as you can see price formed a pullback until 4.20 and that’s why I’m recommending to go long till 4.65 USD/Share.
The next idea is for Visa Stocks (V) – the price is staying in the important resistance level around 1.85. That’s why we have to wait till the price forms a breakout and a pullback. In that case you can go long till the target at 2 USD/Share.
Then I’m looking at Apple Stocks (AAPL). On the previous session price formed important pullback until 3.80 USD/Share. I recommend you to go long this time and the first target will be around 4 USD/Share.
Microchip Technology (MCHP): The price is currently testing the level 108 USD/Share. My idea is that If the price will form a breakout than a pullback – after fractal you can go long and the target will be at 114 USD/Share. Notice that the price is going directly with the trend line.
And the last idea is for NVidea Corp Stocks (NVDA). You should look at this stock at a lower timeframe, e.g. M15. The price formed pullback until 4.08 USD/Share. And after a fractal there is going to be an opportunity to go long till the 4.30 USD/Share.
That’s all for today. Hope it will help you on you trading path!