due to a a weakening dollar and recession across the world i expect most people to hedge on fold especially since warrren buffet has invest 543million dollars in to a gold mining company. gold is expected to rise as per the economic cycle.
wair for retracement to 1900 area before you buy if you want a tight stop loss.
I hope you all are doing great and having fun with trading.
I have a very nice setup on DXY daily chart to share here.
As we can see on chart a very strong Bullish Engulfing candle which is an early indication of trend reversal.
We are expecting an up move which could happen in possible two setups which i have shared on chart.
Note: Always trade USD...
I personally think that price will retrace back to the 1.10 Support zone as its exhaustion phase before pushing up to the 1.115 Area (1st potential Take profit). Highest Take profit target being 1.15 after another retest to relevant support zone (Swing Trade)
A reason for this is because on the daily chart we can see a wick rejection towards the 1.115 Resistance...
100% PRICE ACTION
As we can see, usdjpy has broken a very strong structure that it has struggled to break for weeks, bulls tried to step in to break above but were over powered.
Price then tested the area once and bounced off, confirming that bears are in controll. we are now waiting for a second retest at this structure before entering.
Price action is king,...
I'm expecting price to return to the long term descending channel as there is a lot of liquidity there for the taking.
I expect this to happen via the channel breaking (wiping out stop losses) then price to continue downward. I have a trade idea already generated before price even reaches that destination, so when it does I am fully prepared for any...
We have bullish divergence on the OBV, as well as this you can see from the market structure, price has hit off the golden zone and is now its way to rally and complete an 'M' shape which is a very important pattern when trading Forex. Once price hits the resistance to complete the 'M', only then will it be time to go short on this currency pair.
BULLISH LONG TERM
- PRICE TRADED INTO A WEEKLY BULLISH ORDER BLOCK
- LOOKING FOR PRICE TO TAKE OUT BUY SIDE LIQUIDITY
IF WEEKLY OB IS'NT RESPECTED 1.1000 IS THE NEXT LEVEL OF HINDRANCE/ SUPPORT
- THIS PAGE IS'NT FOR OTHER TO COPY BUT FOR PERSONAL GROWTH. OVER THE PAST YEAR YOU CAN SEE
I'VE ADOPTED A NEW STYLE OF TRADING MOVING FOR RETAIL TO INSTITUTIONAL...
Confirmed - Falling channel on 4h
Confirmed - H+S with LL on RH shoulder.
Not confirmed - If price retraces to entry position and drops it will cross 50sma confirming move.
Tight SL gives 3:1 RRR
This commodity is undecided on whether is in an overall uptrend or downtrend. However the sentiment just now appears to be bullish as the last 4hr candle (@10am) has shown retracement. I've entered a long trade with initial TakeProfit @ 55.86 then at 58.17 if the untend continues
As you can see by the graph, EURGBP has hit a consistent resistance around the 0.8911 mark. This is indicating that the pairing will drop to the 0.885 support and either break through to 0.8858 and beyond or rebound back to the resistance at 0.8911. This trade can be seen on H1 and H4 timescales so should be easy profit within the next couple of days.