Overview: The Gold markets rally during the course of the session on Friday, touching the $1350 level. At this point in time, Gold sentiment is bullish and market is ready to go higher, as buyers are still interested in the market. The main trend of Gold is bullish on charts and and market is sustaining above the 100 days moving average on its 4 hourly chart. It...
Hey Guys, GBPUSD has broken the support zone marked around 1.3120's to 1.3150's. As the support is broken we can look out for bearish opportunities to short. If we get pullback to retest the above support turned resistance zone, after confirmation we can initiate short positions. As the support is broken in GBPUSD we are in clear bearish trend. Sometimes market...
Traders, We have come up on an upside-down flag pattern. Price action has squeezed itself into a corner and is about to pop! Keep a careful eye out for Volume, RSI and over-all direction. As of right now it looks to be breaking North! Happy Trading!
Pivot: 1.4430 Most Likely Scenario: long positions above 1.4430 with targets @ 1.4650 & 1.4700 in extension. Alternative scenario: below 1.4430 look for further downside with 1.4350 & 1.4300 as targets. Comment: the RSI shows upside momentum.
We have dual pattern formations in GBPUSD daily timeframe. Bullish bat pattern and Bullish deep crab pattern but both the patterns gets completed in same area. In daily charts of GBPUSD crab pattern is not visible very clearly but when you move down to 4hr charts crab pattern is very clear and Bat pattern also completes in the same zone of crabs D completion....
Pivot: 1.4190 Most Likely Scenario: long positions above 1.4190 with targets @ 1.4295 & 1.4325 in extension. Alternative scenario: below 1.4190 look for further downside with 1.4140 & 1.4090 as targets. Comment: the RSI shows upside momentum.
Pivot: 1.4130 Most Likely Scenario: long positions above 1.4130 with targets @ 1.4230 & 1.4285 in extension. Alternative scenario: below 1.4130 look for further downside with 1.4085 & 1.4050 as targets. Comment: the RSI lacks downward momentum.
Pivot: 1.4190 Most Likely Scenario: short positions below 1.4190 with targets @ 1.4085 & 1.4050 in extension. Alternative scenario: above 1.4190 look for further upside with 1.4285 & 1.4360 as targets. Comment: the RSI lacks upward momentum.
Pivot: 1.4110 Most Likely Scenario: long positions above 1.4110 with targets @ 1.4285 & 1.4360 in extension. Alternative scenario: below 1.4110 look for further downside with 1.4050 & 1.4005 as targets. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Most Likely Scenario: short positions below 1.4530 with targets @ 1.4425 & 1.4365 in extension. Alternative scenario: above 1.4530 look for further upside with 1.4600 & 1.4665 as targets. Comment: the RSI is mixed to bearish.
Bullish bat pattern setting up can also be used as a bullish trend continuation entry technique. For more aggressive traders option to shoot for larger targets here based on the underlying uptrend.
What type of a correction is in progress? Too early to conclude. But there is high probability for an impulse wave down to reach the bottom of the corrective structure. Then I am rooting for the correction to continue further. If price reaches this bottom structure, we will know by then if price wants to break out to the down side or turn back up for an...
PLAN TP = 1.49-1.50 (fibo 161.8, Day) From every timeframe, it shows up that it is very bullish. follow buy or buy on dips.
GBPUSD: Daily Chart It is the 3rd wave (3-3), So it can trade with easily set up. Buy anywhere with cool RR.