On the daily time frame we have a possible 5-Elliot wave formation, with the 5th impulse on a 1.217 extension. Price is currently sitting around the monthly and weekly resistance level (1.200). We can possibly trade the correction wave to the downside on PA confirmation. We have multiple possible trade setups for different strategies and styles of trading. We have...
The non farm numbers are coming out. I think these can break the trend and we will have a good trade to the downside. The RSI and MacD are showing good divergences, supporting this.
This pair has broken the uptrend line and I believe it will retest the trend line before or during the NFP data release tomorrow to complete a bearish cypher pattern. This will give us a great opportunity to short. I am looking to swing this trade to about a month due to the level of structure it is at. Trade with care.
A small neutral triangle has formed on the upper trendline of a much larger wedge that can be seen here on the D1 Chart: If the smaller triangle breaks to the upside, the entire wedge might break with a large move in that direction. If the Upper trendline holds, look short to the bottom of the shape. Lastly stay mindful of Non-Farm Payroll data that will be...
AUDUSD broke descending triangle on daily time frame, in H1 it is forming a wedge break below will confirm the leg down towards .73000 area which in confluence with 78% fib and daily triangle's target. It may retest the H1 wedge's resistance before moving lower or break it and fall. Non pay farm payroll ahead......HEDGE YOUR RISK PROPERLY..
USDCAD is at the top of the corrective channel of the overall major downtrend. Therefore this trade presents a good risk to reward ratio. If you look at the daily RSI its highly overbought as well, with major news coming up for both the currencies it could be a trigger for the next down move. Zoom into lower timeframe for a better entry. You can DM me for...
The following information is helpful for those who trade binary options or short term spot Forex. Primarily meant for Binary options traders who want to know the volatility of the NFP release for purchasing short term contracts. Pips are not EXACT, as I used the price range tool rather than Open Close on candles. (next time) I do not suggest using this data for...
NFP should create highs and lows in between the two blue arrows I have placed on the chart providing a few good opportunities to trade UJ
NFP should create highs and lows between the two blue arrows I have placed on my chart. By doing so it will create a 120 pip range and provide some good opportunities for positions.
A little setup I'm looking at! Whether the news is good or bad I'm expecting this move! Trade responsibly! :D Thanks for the support! :D
Gold pushed up past the 1220 resistance level for the 3rd time since the start of the year, only to be met with strong resistance and falling back under 1220 to be within the range from 1182 - 1220. While I am still long, the upper wick on today's candle is not the most encouraging for the bulls. On the bullish side, price is still above the 6, 8 and 21 day...
Gold started the day with a big selloff but then recovered after the FOMC and Janet Yellen announced that they would not be raising interest rates at this time. Gold is now attempting to break out of a potential triple top at $1220. If Gold can break through, then the first target would be 1241.7, the .618 fib extention from the bull run that started at the end of...
Congestion should be due to the expectation of major market movers. If we do not have clear breakout signals with NFP, it is recommended to wait for the day of Tuesday, November 8, the US presidential election.
Good Evening Traders! Well, here we are again, Gold trading just above the 1250 mark. Today was a solid day down, with Gold trading 16.7 points off the opening to close at 1253. We have come right to the top of this support area that was last seen on June 24, the day the British approved Brexit, and the day when Gold rallied 108 points in 1 day!. It's amazing...
Good Evening Traders! Well, after yesterday's explosive move down, it's not surprising that Gold took a pause today. With a total range of 15.3 points, the net down move today was 1.9 points. I did take a new short position early in the morning and I'll get to that later in this post. I'm expecting volatility to come back into the market tomorrow and Friday as...