XAUUSD has been on a strong uptrend . The momentum has been reduced and we can potentially see the exhaustion of the pair to the 1850 region before continuing the long position (HIGH RISK TRADE) Make sure good risk management is maintained
Triple top which is marked by the horizontal black line signals a reversal which has been confirmed.
Although this entry may be late there are still some pips that can be caught and to be safe the TP is at the previous low.
Falling wedge patterned formed with confirmation of a reversal.
Manufacturing Production news coming out at 0700 hours on the 14th of July which is projected to have high impact on GBP pairs.
Expecting a bullish push within the next 24 hours.
We are at level 1 in the market cycle so I'm expecting a drop to level 2 at some point this week.
Look out for GBP news this Wednesday!
NOTE: This is just what I see, it doesn't mean it will happen! Please DO YOUR OWN ANALYSIS before entering any trade.
All the best
I can clearly see the market cycle forming the most common pattern.
We are at the peak of level 3, end of 2 weeks bullish cycle so I'm expecting consolidation in the Asian session, rise in London session, and the drop in New York session.
NOTE: That's only what I see, doesn't mean it will happen! Please DO YOUR OWN ANALYSIS before enter any trade!
Clues: Trendline breakthrough, 50 ema crosses the 200, tweezer bottoms on weekly TF, W formation.
We are at level 1 expecting level 2 to form this week. Look out the news for GBP this week!
Note: Please do YOUR OWN analysis before you enter any trade!
Good luck fellow traders ...!!
EUR/JPY is hitting support at around the 121.90 level.
We could expect the price to break through this level of resistance or we could expect the price to hit resistance and then pullback to support at the 120.489 level, creating a short term sell opportunity.
Both the MACD and the RVI are yet to show signs of the price potentially pulling back and so it may...
Technical Analysis: Heavily Overbought Stochastic RSI with Resistance Bollinger band hit.
Fundamental Analysis: Initial Jobless Claim positive consensus this week should cause the reversal for next week, along with CPI MoM, YoY positive consensus, to carry this new trend we can expect the Initial Jobless Claim, Michigan consumer sentiment and the building...
There is a breakout above the trend line on the LTF and is tested twice which suggests that there will be a reversal. Also an uptrend is beginning to form on the LTF as it pierces the downward trend line suggesting there will be a reversal.
Grand Rising Traders. Thank God Its Monday! Who else is ready to destroy the markets this week?
These are my thoughts for GBP/JPY
- After a strong push to the upside , momentum is finally slowing down indicating sell pressure.
- Higher lower formed , breaking bullish structure.
However i still feel that there is a lot of buy pressure in the market, so be careful....
Good Morning all. I hope this message finds you well.
Yesterday i got faked out by this pair, nothing major.
Today I placed a buy position as price is greatly oversold. Lets see how this one plays out - looking to hold this trade if the momentum is strong.
Advice for today:
Trading without a stop-loss is financial suicide. Always protect your capital no matter how...