Price is approaching a strong resistance level formed by a previous swing high. Would like to see the band start coming down to meet the candlesticks or for price to spike up, hit the band and then form a signal to get short. Stay frosty!
This position will depend on the price reaction on market open. If there's evidence that this may get Bullish, say an engulfing on the lower timeframes , then I'll be in the trade with current levels. Buy limit orders ahoy.
Currently heading north to a significant bounce point, it will tie in nicely with the outer Bollinger band. All I need at this level is the correct candlestick pattern and I'll jump in short with target 2:1 at recent low.
The volumes created during upside move by buying activity on the 09.10. The level 1.3112 is slighly lower as I believe there is significant support there.
I think when the price return to this level the buyer will be active again to defent their positions.
TP = 10
SL = -12
Looking towards NZD weakness and looking across the cross pairs we can see that EURNZD has approached a support level.
Price has come into the key support and Daily 38.2 fib of daily move. Price has taken out 4 1hr highs looking for a pullback into the highlighted zone for a long opportunity.
Daily resistance level & 61.8 Daily Fib Level has been hit and the market has rejected the resistance zone.
Price has now started to move lower and broken out of the consolidation area. Looking for price to pullback to minor resistance for a short opportunity.
Gold has found support on the 4hr timeframe inline with structure and weekly 38.2 fib retracement. We can see that price has just broken out of the trendline resistance and expect a pullback to potentially trade bullish price action to the upside. Could potentially target a lot higher if you are looking for the weekly trend to resume.
Daily chart in an uptrend making higher highs and higher lows. 4hr chart has been working within the channel and weekly pullback looking for the market to resume the trend. If we see a double bottom we could look for a break and retest of structure to take this market higher.