Day Trading Ideas – 12th Mar 2021

Today has a lot of day trading ideas across many asset classes, including Forex, Metals, and Indices.

AUDUSD edges higher as expected hitting all our targets & selling opportunity at 7780/90 with stops above 7800. We have now switched in to short positions. 

NZDUSD beat important resistance at 7180/90 to hit 7240. Key resistance at 7235/45 today. Shorts need stops above 7260.

USDJPY ranges from important resistance at 109.00/10 to first support at 108.30/20. 

EURJPY we wrote: holding above 129.45/55 is a buy signal targeting 129.85/95. A break above 130.05 is a buy signal initially targeting 130.30/35.

We bottomed exactly at 129.45/55 & have reached 130.28. 

CADJPY shorts at 8615/25 unfortunately stopped above 8665.

EURUSD shorts at strong resistance at 1.1950/65 were unfortunately stopped above 1.1980. Outlook positive if we hold above first support at 1.1960/50. 

USDCAD collapsed, holding below 1.2630 to target 1.2600 & 1.2570/60 before reaching 1.2524 over night.

GBPUSD beat key resistance at 1.3950/60 to top exactly at the next target of 1.4000/20.

EURGBP beaks lower towards the next target of 8560/50 with a break below 8540 acting as the next sell signal.

Gold Spot longs at 1685/80 worked perfectly after we predicted a significant recovery to strong resistance at 1740/45. A high for the week was expected & we topped exactly here yesterday.

We predicted the exact low & high for the week. Nobody can beat that!

WTI Crude MAY Future only paused at strong resistance at 6520/40 before we broke higher to top exactly at the next target of 6610/20. 

Dax 30 March beat the February/March high at 14185/195 for a buy signal & we topped exactly at the next target of 14595/605 for a potential profit of 300 ticks so far.

We spent the rest of the day trading in a small range to consolidate gains. We are overbought but with no sell signal we cannot even think about shorts. 

Emini S&P March we wrote: beats resistance at 3875/85. The break above 3900 is a buy signal targeting 3910/12 & 3925/30. Further gains retest the all time high at 3954/58.

Longs did well yesterday as we hit all targets as far as 3954/58. We topped exactly here. THIS CREATES DOUBLE TOP SELL SIGNAL RISK. BULLS THEREFORE REQUIRE A NEW ALL TIME HIGH TODAY & WEEKLY CLOSE ABOVE 3960. 

Nasdaq March only reached 13119 despite trying to break higher. We must watch the 50 day moving average at 13150 today. 

Day Trading Ideas :