Nice short trade set up on GBPUSD. I am looking to trade this one down to near term daily support and then potentially lower lows as shown on the chart.
Stop loss is 50 pips above current price to keep it away from any volatility spike that might occur.
I am looking to short Dow Jones at this level. Stocks have seen a recovery in recent days but I believe this will be short lived as more drama unfolds.
Stop loss is above the current highs. Profit targets are shown on the chart at the next price support zone
Price is making higher highs and higher lows on the lower 15 min timeframe.
I'm looking to scalp a quick day trade on this new higher low that forming. Targeting the daily r1 level.
Nice 15min wick rejection candles around the 50 EMA right now and bullish TL
I am anticipating new all time highs to be made again next week on the US30 and other equities.
Trendline, fib 0.786 and 28,500 key support level holding price now.
Long term target is DOW TO 30k baby!
-Price reached a major Resistance.
-Formed another area for entry.
-Looking for price to move into a downward direction and a candlestick pattern to also suggest the price reversing.
-Price has also created a 3 impulse pattern to further confirm a turn around:
-Long wick formation on support suggests going long until 1.22040 and rejection of TL back down.. or market re-opens and pushes through support to continue short.
This coincides with my EURGBP analysis, as GBP loses its value, we'll see the opposite for EURGBP.
In relation to my previous idea, I'm still in agreement that the overall outlook is bullish and Gold will rise to 1560 and beyond, however due to the rise of USD and a 50% retracement of Gold's current price, I assume price 'may' break support to find the 1480 usd level before turning around. (May is the operative word).
Following the brief sell off the week before, sellers dipped their toes towards 1.2000 and failed
Buyers spent all last week slowly pushing though and break through two levels (marked Resistance Level 1 and 2 on the chart).
Seasonal wise, we have approached a point where the weighted and all-time seasonal trends diverge
Given how oversold GBP is on all the...
Buyers made a break for it early last week following a period of consolidation
Looking across the major charts, the move up is more to do with EUR weakness rather than dollar strength
Expect a continuation to the upside with the EURUSD and possibly USDCHF charts as the best ways to buy dollar
Should price break the August Swing High then look to target the Monthly R1 Pivot
There's a lot going on here.
-Bullish Pin bar rejects 1.10650 support level and weekly trend line.
-The poorly circled area (my bad) shows shift in momentum past the previous swing.
-The exchange rate retraces 78.6% on the support that price most previously rejected.
Looking to go long ya dun know.
Price tests the support zone and looks like it's going to form a pin bar. If price does remain above support, it would confirm my prediction that price will form a H&S pattern.
On the 1H chart, we can see the H&S more clearly the previous test showed a bullish engulfing candle and on the current test of support we see another candlestick pattern on the...