Price is approaching another level of daily supply as well as weekly resistance.
Lets see how price react at this level. As for the current status, there is still a strong bullish momentum.
PO sell limit @ 113.9
This is just our thought based on technical analysis.
Happy Trading.
Please refer to chart of details.
P/s: This is not a trading signal. It is just our perspective of the market movement.
Thank you for viewing.
Have a pleasant day
Going long on GOLD.
Refer to chart.
1) Bullish Harmonic pattern - potential TP at 50% - 62% (= supply zone)
2) Cup and Handle - break and retest of the neckline suggest the price could go further up
3) Bullish Flag from the cup and handle - TP near 2nd Supply zone - 50%
4) Price action showing higher highs and lower highs
Currently waiting for opportunities to...
Possible short entry on GBPUSD after the retest of support turning to resistance.
This is also in line with:-
1) possible swap zone area demand turned to supply zone
2) fib retracement level - 50% - 62%
3) high chances that price might go back to retest the resistance level since RSI is showing bullish divergent
Look at the chart for further details.
PS: This...
Hi all,
Here is our thoughts on GBPJPY: - Long
Reasoning:
Daily
Overall biased is still bullish - Price is above EMAs 50 & 200
Rejection at key zone @ 193 = 0.236 retracement on Fib
EMAs 8 and 21 crossover on daily and price pull back to EMAs 8 and 21 zone (entry for long)
RSI (14) 58 and CCI (20) 74 = Buyers territory
Bullish reversal candle on 4hour
...
