Previous idea for a bounce off the trend did not work. Trend has now broken on the weekly. could be a bit quiet this week (or even move up a bit, as it's very oversold on lower time frames) , but we should start seeing more movement south when/if it refuses to get back in to the trend.
After a positive surprise for the market on Australian elections as Conservatives keep power via coalition and the polling companies have yet another shocker after predicting in the last 50 polls that Labour would come to power. This mild positive and the oversold nature of AUD led to a large short squeeze with AUD trading up 70 pips from...
Simple counter trend trade based on gold now appearing very overbought. I would like to see it drop back down to the $1300 per ounce region before entertaining a long position if price begins to bounce.
I think when markets open eurusd will drop down to 1.12600 area then will go up to start my long position however if it breaks my zone it could jump back in the downtrend meaning its high was just a NFP spike. If it keeps going down I will hold off because it could be a sell and if it does drop further I will place a sell expecting it to continue down a make a...
GOLD has been playing out PERFECTLY
After the bullish flag / ABC Correction we received, we got a rejection off the longer term TL which has provided plenty of liquidity driving price up to the Resistance at 1345.
I expect price to pullback to the blue 50-61.8 sweetspot highlighted in blue, before another rally towards 1,400