UJ is currently breaking out this descending line, could be a false breakout or a retest of the trend line. Personally I believe it's a false breakout. A clear break out of the 107.00 mark should change the trend and bring back the ninja to the previous levels of 110.00-112.00
Resistance levels at the moment are: 106.00 (psychological level)
I have entered a short position on AUFJPY for the following reasons:
4 hour fib retracement to the 78.6% area, which has previously been a good area of resistance
There is the formation of a double top at this 78.6% area, enphasising the potential for a downward push
A glance at the 4H linear regression shows that price is currently above the mean and also...
As you see price has previously tested resistance twice before breaking through.
Price is currently hovering around thata point making me think that this will become a new support.
Also price is hovering at around the 61 fib mark.
We have just broken a resistance zone on the daily and lower timeframes, we should expect a retest before we reject / break the previous lower high (black box).
Some high impact news out for this pair Thursday, not too familiar with this pair but should the news coincide with the PA over the beginning of the week ahead, I would expect this sort of move to come...
looking retest previous support structure as resistance on daily timeframe, as well as rejection off the .5 fib around that level , plus when we get to that point which I've circled roughly (purple) we will have ran out liquidity from the sellers catching there stops from where I've put in a solid yellow ray , finally I've circled on the RSI point which I...
Price is pulling back to a 15 minute order block (refined to 5 minute). I am looking for price to retrace and go long to fill previous imbalance marked as the outlined box. I then used fib golden zone to add extra confluence.
This is my first time trading XAU/USD so we'll see how it goes!
Price is pulling back to a 15 minute order block (also refined to 5 minute). I am then looking for price to retrace and fill in imbalance marked up as the outlined square. I also used fib (golden zone) for extra confluence.
I am not usually a gold trader this is my firdt ever gold markup so we'll see how it goes!
XRP followed bitcoins pump and didnt manage to reach the intended 61.8 & 78.6 retracements.
However if this daily fibonacci inside the overall (BOLD) fib would come through a pull back on or around 23rd July close/4th July open.
This would be the ideal scenario for one last dip to fulfill the long term retracements.
However with all the news out in the last few...
800 EMA below price
Good structure for Fibs
Support and resistance
I am waiting for a likely push down in the morning and then another good push to the upside! There is many ways for this to go sideways at the moment! I am also looking at divergence on this pair to see if I can capture a scalp!
I am also waiting upon what could be a bad day for £ as...