This is an update on the daily time frame for gold. Things have changed.
I see some sort of continuation pattern developing creating probability for the upside. Note carefully my disclaimer below.
For every probability estimate in one direction there is always a residual probability for the opposite direction (- this is why we have stop-losses which must...
Moving up strongly, may pause at current levels.
It's a riskier asset class as again we're not looking at a slow, steady trend. Gone between 300 to 1400 to 80 in the past few years in a Draupner wave type pattern.
Less historical data gives less support and resistance information so we must rely more on Fibonacci levels. Price is around a significant Fib level...
Hey Traders,
I would like to share my trade on USOIL today.
Note: Do not take more than 0.5% risk and open two positions as crude oil inventories data release is at 3:30 GMT. If price goes 40 pips in favour move Stops to entry price.
Enjoy Trading!
Price is still in an uptrend
Price Touched the lower trendline
At 15mins chart price created double bottom with long wick rejection
2nd candle taking out first candle
Price crossing 15mins EMA and finding support at previous resistance level
Price at support level which was previous resistance level
- Failed to make lower lows
- Rejection of the 0.786 FIB
- Currently sitting in the golden pocket area of the FIB
- Failed to close below the 50MA on the daily and weekly
Last week, Swiss currency is the strongest of all and we expect it currently in its exhaustive phase in the coming weeks.
We could take this opportunity to capitalize on other currencies.
At weekly TF, CADCHF is trying to make a U-shape pattern and this would be a great opportunity for long with good risk to reward ratio.
This is a long term idea.
The whole...
Confluences:
- Break and possible retest of bullish trend line
- Recent Double top formation
- Price appears to be making its way to an area of interest between the 0.5 & 0.618 Fib levels (area of support turning into resistance)
- Possible touch of the 50 EMA
I will be waiting for price to retrace further into the area of interest then obviously waiting for...
Following 3 successful trades with trend, fundamental & technical confluence, we appear to be attempting a breach of the descending wedge, I believe due to the UK restarting their economy and the US Covid 19 cases growing at a quicker rate, the GBP will be favoured temporarily Will hope for higher CPI figures to be achieved by the UK on July 15th
The China 50 took off like a rocket, leaving behind the DJI and other country indices. This is the CN50's biggest rally in a year. State media agencies talked up the index promising a post-coronavirus boom. Then the China Securities Journal made similar promises.
This caused an almost 6% charge north in one day! However, there did not appear to be significant...
Looks like GBP pairs could be bullish next week. GBPUSD has broken out of its H4 downtrend structure and pushed above our horizontal zone and came back to re-test as support with price action showing signs of rejection. Further confirmation with our fib golden zone being touched and bouncing as price momentum looking favourable to the upside. Price had closed with...
1) Bullish impulsive move on a higher time frame followed by a correction phase
2) Double bottom
3) Broken structure with New Higher High
4) The price might be moving sideways until it touches the trendline
After yesterday's breakout of the bearish channel, the cable played out the rest of its merry tune between the 0.5 and 0.38 Fibbonanci levels. These look like holding as support and when you add in the new bullish channel it looks like we have a trade on the open. I'm going long at 1.2370 and waiting for the morning open to carry on where we left off. TP is...
GBPUSD Long
Direction: - The pair approached the end of a Bearish Cycle which may continue on the H4 time-frame, but on the H1 time-frame a reversal off bottom of level was due.
- The pair was expected to enter a Bullish Cycle on the H1 time-frame now.
- A multi-session W (Double-Bottom) pattern formed on the H1, giving us the direction, and also failed to take...
I think this coin can move upwards quite a bit. Broken out of falling wedge with increasing volume.
Will be watching out for resistance and reversal at 8000 levels (white line) otherwise I can go further up.
Bouncing off from fib's golden pocket so it should move upwards.
1) Bullish impulsive move on a higher time frame followed by a correction move on a higher time frame
2) Double bottom at the end of the bullish correction phase
3) Broken structure with New Higher High
4) Price created new impulse with correction possibly coming off from 61.8% level
5) Price had come back to touch the higher time frame correction trendline
A)...
We assume that the false breakedown which was announced in previous reviews has been woeked out. At this stage we are observing an incipient long trend.Investors' sentiment is at medium negative levels and that leads to believe in the continuation of a growing trend.An exit of price above 9900 will confirm our expectations.
Altcoins: (Considered coins are LTC,...
Here we see GBPJPY on the 4 hour chart. we're currently in a bearish market as lower lows and lower highs are being created.
The current price is at a key aread or resistance but also sat in a fresh level of supply.
I would like to see a break of this resistance which is marked around 134.000, this would bring in the Retail Buyers before we see smart money...
