AUD/USD is at a monthly demand zone, there are numerous traps enticing retail traders to short. E.g. bouncing off the weekly trend line, and a so called area of resistance on the daily.
COT data also shows banks are becoming slightly bullish and reducing short positions.
Don't short basically.
This pair is a fixed pegged currency pair ....right now price is just 10pips away from 7.8500 peg price. Going short is the only way for this pair at the moment except there is a change on the agreement on how this currency pair is managed.
On the aud/jpy short set up, I see a potential bearish reversal.
Price seems to be in contact with the resistance zone several times so I'm going to go ahead and suggest price will be driven lower hopefully towards the newly formed lower low.
Fib shows 0.382/0.618 retracement depending if you've used the lower low body or wick. Delving into the lower...
Looking at the gold today weekend, it has been in a range for some time now and we've seen that in side the range has appeared another resistance zone. I am looking to short this and take profit down towards the next support zone.
Price seems to created a tweezer top on the daily and price has driven down from that resistance zone in lower timeframes such as the...
Last post: June 30th. See chart.
Review: Price was heading up towards the previous all-time high.
Update: Price has now started to challenge the all-time high resistance level.
Conclusion: We need price to clearly break through the resistance level and stay above it, then we can start to look for long opportunities.
Any comments or questions, do not hesitate...
Weekly pin has closed above a weekly pivot area (blue line) and current week is above the 2017 close which is usually a key area in most markets.
1st target is just below 2017's high but depending on how the market closes if it reaches this area will determine whether i stay in the trade or not/
Hi, Buy 1315-1325 - You're looking for a long red candle-wick on the 4 hour or daily for your entry point. Best to wait for confirmation.
To the Technical Analysts - An Inverse Hammer for entry signal.
- Divit -
P.s: Keep your eyes on the news ( Chubby Korean Boy dropping bombs like Travis Scott Drops Hits )
Since my predictions of last weekend turned out to be quite accurate, I am now there for you guys. I want you all to make the right decisions for the mutual benefit. See my first chart.
My predictions for CLAM:
- High tides (14-15 May) which will push people to the ice cream bar (more sales)
- Not enough ice cream cones (17:00 ECT 14 May)