As I described on the chart. This week is important because of the last week's weekly candle. Market is dynamic so we are.
Green Trend Line is not significant but that will show us when bears could come to market. 124.670 is good point to putting a short order after breakout of that level short positions will increase. 127.300 is strong resistance for now. If this area broken then short orders will be canceled; Below 122.00 - 122.100 will act as support but after previous breakout...
Chart saying much more than words.
Short is much more possible on this commodity according to channel and bears on the market. On downtrend we have 2 more support areas. But always market decides the way we just follow it :)
As I described my thoughts on the chart.
Chart shows everything but I'm on the short side of this commodity. Waiting a confirmation before entering a new position. But we could see a possible consolidation between 520 - 480
Entry point must be broken and need a confirmation from 1h or 4h chart.
Possible short trade idea with a stop @ 15.12+spread
This is a long term trade idea so the price must have 2 daily closing below that entry point of 15353
NZDUSD - Long with Correlated Commodities Chart explain itself.
I've explained on chart and will update.
Waiting 884 to break to enter long on platinum for long term
Coffee still in Bearish trend in weekly and monthly basis. So its time to take this action to make some profit. I'm watching coffee index and its almost 100% correlated with other coffee futures.
I wanted to write a description like others but im not good at letters and sentences :) I'm good at numbers only. Chart explains better than me.
I'm already short on GBPNZD for about over a month still holding. Maybe its time to add some more. Lets see if this is going to work.