long term dropas you can see in chart price complete the head and shoulder and now can drop to trend lend.
MMM
USDCHF 4HTrade The Trend And Continue Momentum Short. Enter On Lower Time Frames. Average Price Indicating Bearish.
GBPUSD 4HPrice Reflecting Long Over Previous Average. Enter On Lower Time Frames Into The Direction Of True Trend.
MMM - Opportunity for Short Hey guys! Here's my view on MMM:
Summary
Price bounced off a strong support, captured by the recent spike and I am expecting a further push to 168.79 before a reversal.
How I would play this trade:
Entry: 168.79
Stop Loss: 190.26
Take Profit: 97.21
Reason for my view:
There was a strong bounce off the 61.8% fibonacci retracement level, in line with previous breakout levels, as seen by the recent spike. With the $2 trillon rescue package recently injected into the economy, it could provide a temporary boost in market risk sentiment. This could see prices rally higher to test our resistance level at 168.79.
Overall bias remains bearish as price is holding nicely below its descending resistance line and 35 EMA. Fundamentally, the Covid-19 outbreak worldwide is not showing signs of peaking out, which could further impede the global recovery.
Disclaimer: There is a very high degree of risk involved in trading and investing. Past results are not indicative of future returns. Trading BEAN and all individuals affiliated with this site assume no responsibilities for your trading and investment results. All contents featured here are solely for educational purposes and ARE NOT investment or trading advices. Please do your own due diligence and trade at your own risk.
3M Company is Dropping MMM is unfortunately dropping to weekly levels.
MMM is an American multinational conglomerate corporation operating in the fields of industry, worker safety, health care, and consumer goods. (Wikipedia)
however the price confirmed bearish terms, and we will carry on this trend to low levels
MMM CYCLE: EURUSDQUICK POST:
Daily: Long
H4: No harmonics
H1: L1 Short, possible reset long
Look for clear entries during trading hours on the M15, 5 & 1.
Manage all trades according to your trading plan.
***This information provided is not to be taken as a trade signal. Trends and analysis can change at any time.
Feel free to message me with questions and comments.
MMM CYCLE: EURUSDHey guys! I hope everyone had a great trading week last week. We saw the bullish play out as projected. Even though we are in L3 there is still room for price to rise before reaching 3xadr. For now, we will continue to take buy setups in line with our analysis until we have a reason to begin our bearish cycle. If you look at the DXY you will notice it is also in L3 of a bearish cycle. Price is currently sitting on a daily zone flip giving price the potential to rise. EU and the DXY move inverse. Always use the DXY to gauge price.
Daily: Long
H4: Bearish harmonic
H1 EMAs crossed long
Look for clear entries during trading hours on the M15, 5 & 1.
Let's have a great week!
Manage all trades according to your trading plan.
***This information provided is not to be taken as a trade signal. Trends and analysis can change at any time.
Feel free to message me with questions and comments.
MMM CYCLE: EURUSDHey guys. We're starting to see reversal behavior in EU. Price is currently trapping though a weekly zone flip. We do not have an official peak locked to anchor shorts yet however, we are open to taking conservative positions long if it sets up during London. It is still early in the week and the market is volatile. Be patient.
Daily: Short
H4: No harmonics
H1: L3 looking, EMA's cross short
Look for clear entries during trading hours on the M15, 5 & 1.
Manage all trades according to your trading plan.
***This information provided is not to be taken as a trade signal. Trends and analysis can change at any time.
Feel free to message me with questions and comments.
MMM CYCLE SHORT: EURUSDSorry for the quality of the chart posted yesterday. It was done from a cell phone. Remember, we are still looking for shorts until we have a peak. The markets are not stable. Modify risk and make adjustments accordingly.
Daily: Short
4H: Bullish harmonic
1H: L2 short, EMAs crosses short.
Look for clear entries during trading hours on the M15, 5 & 1.
Manage all trades according to your trading plan.
***This information provided is not to be taken as a trade signal. Trends and analysis can change at any time.
Feel free to message me with questions and comments.
MMM CYCLE SHORT: EURUSDHey guys. This is a prime example of why we always trade in line with the daily and H1 EMA cross. We've some nice opportunities for entries short. It's simple. We will continue to look for opportunities short until we have an anchor for trades long. We do not predict. We react to what the market gives.
Daily: short
H4: no harmonics
H1: EMA cross short, possible level 1 reset
Manage all trades according to your trading plan.
***This information provided is not to be taken as a trade signal. Trends and analysis can change at any time.
Feel free to message me with questions and comments.
MMM CYCLE SHORT: EURUSDWhat a beautiful bearish cycle we had to play out on the EU. We are seeing reversal behavior in the EU but not so much on the DXY. With that being said we will continue to take setups short in line with daily trend and H1 EMA cross until we have a locked peak to anchor trades long.
Daily: Short
H4: No harmonics
H1: EMA cross short, L3, reversal behavior
Manage all trades according to your trading plan.
***This information provided is not to be taken as a trade signal. Trends and analysis can change at any time.
Feel free to message me with questions and comments.
MMM CYCLE SHORT: EURUSDHey guys! We had two opportunities at a bounce trade so far as projected. Both gave at least 50 pips. If you are still in mange accordingly. Right now price is hanging around daily open and yesterdays low. We are anticipating further drop there is no guarantee.
Congrats to all who took profits today.
Manage all trades according to your trading plan.
***This information provided is not to be taken as a trade signal. Trends and analysis can change at any time.
Feel free to message me with questions and comments.
Investing in the Time of COVID-19 / 3M COMPANYIs It Time to Buy 3M Stock? (NYSE:MMM)
3M ramps up N95 respirator production as demand surges from global coronavirus outbreak.
Demand for respirators is extremely high .
To fill the surge in demand for the devices, particularly the N95 respirator, 3M is ramping up production.
In Aberdeen, South Dakota, more than 650 employees at one of 3M’s largest manufacturing facilities are working overtime to increase face mask production.
3M Company:
While 3M manufactures millions of respirators per month at production facilities in the United States and China, as well as in Latin America,
Europe and Asia, we expect demand for respirators and other supplies to outpace supply for the foreseeable future.
"3M is supporting public health and government response to the outbreak by ramping up production at our global manufacturing facilities,
including hiring workers, adding shifts and activating more production lines.
"Still, global demand for certain personal protective equipment, including respirators, is currently exceeding supply.
We are working with customers, distributors,
and government and medical officials to help get supplies where they are most needed."
Disclaimer:
We are not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature,
and are therefore are unqualified to give investment recommendations.
Always do your own research and consult with a licensed investment professional before investing.
This communication is never to be used as the basis of making investment decisions, and it is for entertainment purposes only.
GBPJPY Intraday LongWe should be Looking at a short-term Long for the GBPJPY pair.
It has to close out the liquidity in the target area, It has presented us the "Spring" in the Wyckoff Method and it should pullback to the 800 EMA (1H)
EURNZD headed for a shortOn our EN chart we are in a consolidation phase and we are anticipating a huge sell move in the future but I will discuss that a bit later. for now were looking for a short sell in the consolidation zone of about 100 pips but we might exit inbetween so stay tuned OANDA:EURNZD
MMM CYCLE: EURUSDHey guys! Although we do have a peak formation we still do not have an H1 EMA cross locking the peak. Right now we are seeing a London pat long play out in line with the daily. We may get a short set up in the next session.
Daily: Long
H4: No harmonics
H1: TDI extremes, beyond 3xADR, L3, outside structure suggesting a possible short.
It's helpful to use the DXY to gauge the direction in EU. They move in opposite directions.
Look for entries on the M15 and lower timeframes. We will continue to look for trades in both directions. Be cautious holding short positions until we have an officially locked peak. (H1 EMA cross)
Manage all trades according to your trading plan.
***This information provided is not to be taken as a trade signal. Trends and analysis can change at any time.
Feel free to message me with questions and comments.
MMM CYCLE: EURUSDHey Team!
We didn't get the reversal yesterday but we did get a nice play long. Remember it's always best to keep an open bias and see the market from both directions.
Daily: Long
H4: No harmonics
H1: TDI extremes, beyond 3xADR, L3, outside structure suggesting a possible short.
Look for entries on the M15 and lower timeframes. We are looking for setups in both directions. Be cautious holding short positions until we have an officially locked peak.
Manage all trades according to your trading plan.
***This information provided is not to be taken as a trade signal. Trends and analysis can change at any time.
Feel free to message me with questions and comments.
MMM Cycle: EURUSDDaily: Long
H4: No harmonics
H1: 3xADR, TDI extremes, Lvl1 - AFP
We're seeing some reversal behavior in EU but do not have an officially locked peak. Take all trades in accordance with your trading plan. We will be looking for opportunities to trade both ways but favoring the short. Use the DXY to gauge the direction.
Manage all trades according to your trading plan.
***This information provided is not to be taken as a trade signal. Trends and analysis can change at any time.
Feel free to message me with questions and comments.
3M - Coronavirus Scare Bolsters 3M Production of Masks Consider 3M in your list of bargains to buy at the moment. I've read several articles that have said 3M has sold out of their masks due to the coronavirus scare and is currently paying workers overtime to meet the demand. They're hoping to have a mask output (N95) of at least 35million/month to the US alone and have ramped up their production in Asia and Europe as well.
On a technical stand point, this looks to be a good place to enter. The the current price action appears to be bouncing off support and the .5 Fib retracement level. The OBV remains high and there is strong bullish divergence that can be seen on the weekly MACD. Given the overall concern of the current status of the world markets, this looks to be a good short-term scalp where I am aiming for resistance around $175. I will re-evaluate that state of the markets once we hit this level to determine whether to let it ride or close the trade.
