We are coming with some ideas for the next market session. But first, let’s see how previous recommendations worked out.
EURUSD – I recommended you to go long for this instrument when price holds above 1.1450 and as you can see the price hold above this level and I want to admit that this idea is still working - the first target is around 1.5080. That’s why just wait in the position till the price hits the target.
Another idea was for GOLD. As I told GOLD is pretty bullish. And as you can see the price hold above an important support level around 1800. That’s why I recommend you to stay long for this instrument till 1900.
Microsoft – in this instrument I recommended you wait till the pullback of the price at 1.85 USD/Share. And it’s still working – wait till the pullback from the level.
SNPS was another idea. We recommended to wait for a forming of a reversal model at 1.90 level and as you can see that pattern was formed, so go long till 2.05 level.
CRM – the same idea was here. We have pretty important support level here at 185. And as you can see price formed a reversal model here that’s why it’s high time to go long for this stock. In this case the first target will be around 200 USD/Share.
General Dynamics was the last idea. And as you could have seen from the big picture, price hold above an important support level around 140. And here we can also see how price reacted to the trend line and hold above. We recommend you to wait for a sort of pullback from a 145 level and the price will form fractal and this will be our entry point for a long. The first target will be 155.
And now we can move on to today’s ideas.
Let’s start from EURUSD. I recommended you to go long for this instrument when price holds above 1.1450 and as you can see the price hold above this level and I want to admit that this idea is still working and the first target will be around 1.1580.
GBPUSD – price right now is forming a breakout from the level of 1.2580. That’s why go long for this currency and the first target will be around 1.2640.
Light Crude OIL Futures (NYMEX:CL1!) – I would recommend you to go short for this instrument. Do not forget to put stop loss at 31.75. And the first target will be around 39 USD and the second – 37 USD.
Another idea is for GOLD. There is a pretty interesting situation right now: the price is trying to break this important resistance level around 1815. That’s why we should wait and see how the price will be acting. If it will form an impulsive breakout and holds above – go long and the target will be around 1825. But if the price will impulsively break the level and then go back below the level – go short till 1800.
Another idea is for PayPal stocks. The price hold in the range and than there was an impulsive breakout. That’s why it’s a great chance to go long. The first target will be around 180 USD/Share.
Let’s move on to GD. We have 2 options here. If price holds above 62.50 level you can go long for this stock till 68 USD. And if price will be going backwards – till the 58 USD level, than you should wait till the reversal level and go long till 68 USD/Share.
And the last idea is for Alibaba – it’s pretty bullish, so go long for this instrument. The first target will be about 60 USD/Share.
Well, this is all for today. Happy trading and good luck! See you the next day!