Hoping to see XRP back below $0.20 by the start of November, an across the board market crash would make sense right before an election this big.
Another retest of the bottom of Januarys range, a dip below is a great buying opportunity before the great reset.
A short term trendline has been broken and now into the range shown, lets see what the end of October brings. 🤞
We are seeing the same theme across the USDXXX pairs which is lots of consolidation and indecision. Although we saw price break out of that strong descending trend line, we have seen nothing but a range ever since. I will be waiting patiently for a break either way followed by a re-test and rejection before considering a position.
IG Client Sentiment - 71%...
Anyone with open eyes can see that this pair is caught within a range, don't try and fight the markets, let the setups come to you. Be patient, wait for a break of the consolidation phase either way before considering a position, there are plenty more pairs to trade.
This pair is the devil pair, trade with caution!
COT Data - 73% Long
Helpful identification of zones where a buy or sell trade can be taken based on the current range based price action behaviour of EUR/USD.
My trade will likely be short at 1.19 with targets at 1.17.
XAUUSD remains indecisive, price fails to hold above the key level we are interested in and continues to play around on the significant trendline, although I know many of you are keen on trading gold, I would say avoid it until a clear market direction becomes apparent because at the moment you would be diving into the unknown.
COT Data - 53% Long
This pair is caught within a range and is failing to break this significant resistance zone marked. I will only be looking to place a trade here if we manage to break above and re-test as illustrated. If we don't see that and we stay within the range then I will simply look for opportunity elsewhere until a breakout becomes apparent.
Please view my previous idea...
We see gold trading inrange on monday . as usually we see a buildup before a bigger move . If we break lower a test of 1920 key level and lower will suggest an ongoing correction . A break higher will suggest further gains in near future.
Reasons I will look to take this trade
- Pair is ranging between shown price points with no clear bullish/bearish direction as of yet.
- Price has reacted violently to these price areas in the past, quickly reversing.
- Pair is overbought on 30 min / 1 hour / 4 hour timeframes.
- Tight stop loss / Good R:R (Risk:Reward Ratio) (1:3)
Entry : 0.69900
NZDJPY is Bearish - We look to Sell at 66.08
▪️ Negative overnight flows lead to an expectation of a weaker open this morning.
▪️ Price action continued to range between key support & resistance (66.16 - 63.46) and we expect this to continue.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 66.08, resulting in...
This is an example of a scenario where a range-trader might see some points of interest, some of them are listed below:
1- This drawn resistance around 112.000 is an important one, which has not been trespassed for the past 14 months (+-);
2- As we can observe, also, with the support of the indicators (Stoch + CCI), this might be an overbought zone;
3- If we zoom...
Into 50% of range below
Back above current range low
RR not favourable so looking for dip down into range low for buying opportunity
Range high first target
Will look to add once initial position taken