I have made the chart available to use/edit (Link in the comments, if it gets approved)
You can use the object tree tab (bottom right) to hide or show certain resistance groups to make it less cluttered.
Don't take the prediction too seriously, was just a conservative estimate for fun.
Multicoloured horizontal - Fibonacci extention from previous bear...
Continuation of the recent down trend
Price opened below the Daily pivot indicating Bearish conditions
Lower highs lower lows on 1 + 4 Hr time frames
EMA 100 + 200 Bearish
IF price rejects said area will create a head and shoulders pattern on higher timeframes (Right shoulder) bearish momentum then expected
IF price breaks this area of resistance VOID Trade
Gold is well known for its volatility as has been seen over the past few weeks, where we've seen it rocket up to the 1680 range due to investors rushing in with the threat of Coronavirus. However, they have since had a reality check and as a result gold has reached a channel. This channel is easy money whilst it holds.
As shown on the graph we have been seeing...
The Loonie is starting to look very interesting.
Still in a Weekly Phase 2 and trapped between the Monthly R2 pivot and Yearly pivot, a break above and price could reach the long term trendline. Any sell trades should initially target the yearly pivot.
A clean break of the yearly pivot would open up to more selling.
GBPAUD has formed a acesding triangle on the 1HR and 4HR time frame and has broken the resistance that was previously tested and rejected successfully 4 times, price action looks to retest this previous resistance and flip to support. Price action is making higher highs showing a uptrend of price. On the 4hr time frame a dragonfly doji has formed showing an...
Buyers managed to push price up to the Daily 100 and 200 SMAs before sellers came in strongly.
As per last week, a break below the Yearly Pivot (1.3180) would be good news for sellers. Should price stay above the pivot and we could see a test of 1.3355 and even 1.3430.
Here is a simple set up for CHFJPY long positions.
Price is rejecting the 109.500 daily support zone and is flattening nicely with deceleration present. Price has broken above daily pivot now and I will be looking for the TL and 1hr 50ema to be broken and closed through next.
Safer entry would be to wait for the break ad retest of the TL and 1hr 50ema.
The US dollar has fallen back towards its weekly pivot point against the Japanese yen currency after buyers failed to move price above the 112.00 level. The move lower is currently seen as a technical correction, as bulls have been able to maintain the USDJPY pair above the pivotal 111.68 level. The inverted head and shoulders pattern on the four-hour time frame...
It is a beautiful range sandwiched between Pivot Points.
It will be a simple point of trying to short.
<< tactics >>
1) When MPP (P) 0.68568 functions as a resistance line, consider a short entry.
The first limit is WePP (P) 0.67879
The second limit is WePP (S1) 0.67351
2) If you penetrate MPP (P) upwards, wait for a long entry opportunity.
It ranges from MPP to YPP since last month.
If it is assumed that the moon starts moving since the moon has changed, it will be the flow that aims at shorting from here again.
<< tactics >>
1) Consider a short entry when MPP (P) functions as a resistance line.
The first limit is WePP (P) 0.73924
The second limit is WePP (S1) 0.73423
WePP will be updated...
If YPP (P) 1.08720 functions as a support line, think long.
The first limit is WePP (R1) 1.09559
The second limit is 1.10000
I would be grateful if you like it idea,give me follow or agrees!
Brown thick line: Yearly Pivot Points (YPP in the text)
Light blue thick line: Monthly Pivot Points (MPP in the...