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.
Oil has taken a a more decisive turn. I focus on the 4H time frame review other time frames briefly.
My methodology is transparent and reproducible by everybody. I explain in this screen cast how I limit to what extent the market proves me wrong, but at the same time capitalise on when the market says I'm right in my probability estimates.
Here you see a scenario that could possibly play out on audjpy, price has a lot of bearish momentum. will be waiting for a breakout of trendline + support. once this happens I will wait for a retest and for a 30 minute candle to close bearish to give me confirmation to place a short, no indicators just nice clean price action.
Today I believe it’s going to be a balanced profile day as market awaits Sino-US trade talks outcome.
Overnight price traded within yesterday’s value area. I believe price will come down to test yesterday’s lows before going up to test overnight VPOC or try to take out overnight high before falling back within the range -baring any unexpected news of course.
The first day back from a long weekend. Yesterday's trading volume was rather low as expected, since most of Europe was on holiday. Today, Tuesday, overnight session trading was confined to a narrow range of 6pts within the highs of yesterday's NY session. On open, I am expecting the price to test yesterday's highs.
Note this week heavy on Q1 earnings. Rather...
Overnight price continued to the downside as noted yesterday. It took out last week Friday's low. In overnight session, it has taken out Asian highs. Today I expect the price to be on upside. Note last trading day of the week, so everyone should be flat by end of the day as you never know what will happen during the long weekend.
EURCAD we have had a double top on the higher time frames meaning a trend reversal.
price has broken the ascending trendline and is now at a key level looking for a brilliant sell off to complete the M formation.
150 pip move risking 50 pips to gain 150
The BRENT.CMD pair has been trading in a medium-term ascending channel pattern since the end of December 2018. The pair re-tested the lower boundary of the channel pattern at 66.50 during last week’s trading session.
As for the near future, it is likely that the Brent crude oil prices will continue to appreciate and potentially hits the $70 mark before the end...
The Light crude oil prices have continued to appreciate in a medium-term channel against the US Dollar. The 50-hour simple moving average has pushed the pair towards the $60 mark.
The LIGHT.CMD pair is trading near a resistance level formed by the weekly pivot point at 60.18.
If the weekly PP hold, a possible pullback towards a support cluster at 59.21 could...
Trend line, Price action, Expecting bearish movement, ECB President Draghi speaks on Wednesday , so there is a minor chance for price to go up during his speech or after. But hey traders trend line is our friend. Good luck!! Time to go to the gym for workout, need to be physically strong, it helps to become mentally strong. And i am sure you know how important it...
Gold has had a good run north on the daily time frame and is coming into a powerful zone of congestion. It's not looking great for going long on the 1D now. There are opportunities for shorting on lower time frames but those do not look too good either. Possibly - just possibly - there may be more profit taking on this around this time. I'd be cautious with this one.