Seems like Gold has revisited the previous downtrend line and has seen strong rejection and a push up.
I entered at 1699. Feel free to enter close to my entry.
Please use appropriate risk management.
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If you're still in this trade I would advise you to exit out with as much profit as possible. When the market opens I believe the Gold Market will boom throughout the week to the high 1760s and maybe even to 1800.
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When we look at the pair you can see a double top around a key level showing exhaustion in the buyers power to push higher. With some nice rejection signs and strong bearish candles we can look to hold this pair to come down.
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TAKE POSITION ON BREAKOUT SUPPORTED WITH VOLUME. ALTHOUGH IT IS A BEARISH PATTERN BUT SIDE OF BREAKOUT IS IMPORTANT FOR TAKING POSITION.
STOP > HIGH OF LAST CANDLE FOR SHORT/LOW OF LAST CANDLE FOR LONG (IN WEDGE)
MINIMUM TARGET - HEIGHT OF PATTERN
My first idea. I’m by no means an expert at this... constantly learning and I’m absolutely loving it. So please feel free to give feedback if you see fit! If you decide to invest based on this idea, do so at your own risk!
As you can see from my analysis, Facebook has been in a strong uptrend for a couple of months now, however I feel this is coming to an end....
This Trade is to be entered as the price reaches the last high @1750. This Trade is for a high pip count, therefore is a long term trade, roughly taking 2 weeks.
Be careful as the volatility is incredibly high at the moment. Gold seems to progress bullishly when countries are in financial recession.
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This pair is currently pushing up towards an area I consider to be a Daily Resistance Zone (Green). This is a level that has been tested multiple times by this market in the past and is a level that will possibly cause a nice drop out of this market. Because of that, I will be looking in this area for possible short/selling opportunities.
Happy Sunday Traders! Let's get started with this week's report.
This pair is pushing down towards the Monthly Support Zone (Brown Area) that has been tested multiple times. This level of support is likely to provide some type of bounce out of this market. Because of that, this is an area that I will be looking at for possible long opportunities throughout...
Are we noticing a sell off from the us30! I have added my analysis
4hour trendline broke and retested fib broke and retested the 50% fib with strong daily Resistance!
This is a swing trade looking at high gains!
The Michigan Consumer Sentiment Index released by the University of Michigan is a survey of personal consumer confidence in...
-Very decent long opportunity on the reversal on top of the ascending triangle.
-There is a confluence as the resistance of the triangle is in line with my supple zone.
-Another confluence is that the supply zone is in line with my 23.6 fib level which could indicate that price could potentially reversal from that zone.
-An extra confluence is the EMA as it is...
I am looking at a swing trade on this pair after making 5% earlier you can see the link at the bottom of this page!!
So I am looking for a trendline retest on the 50% retracement! strong medium resistance on 4hour TF
SWING TRADE RISK .5% if you take trade!!
aiming for 9%+ as it swing!
- Very good opportunity to go for a short position on this pair at the reversal of the supply zone.
-Another confluences is the EMA is above price which shows bearish trend of the pair.
-Wait for a strong bearish candle at the supply zone and enter the trade.
Let's see what happens during the week!
Where in a wider scale upwards trend range. Currently in a downwards phase. Once we break our bearish flag and hit the lower trend line I expect a reversal.
Bottom trendline has been untested so should be strong. Good bearish momentum on 4hr MACD indicates should be a nice reversal also. A small retest on the level set by our bearish flag should send my 10MA...
This is my first trade idea based on confirmatory indicators seeing Eliot Wave completion and potential to break out higher after a retest, so guide entry is 0.65278 with potential to ride to initial tp1 0.65666 and then tp2 0.66666. MACD, SAR and Stochastic all pointing upwards. Wait for opening candle completion e.g. 1 hr to cater for early day movements and...
-Good sell opportunity on the rest of the descending channel which is in line with the 38.2 fib level which adds confluence that price could rest from that level.
- The Ema's are above price which indicates bearish momentum of the pair.
- Wait until price has reached the significant level and look for a strong bearish candle to sell this pair.
-Very good opportunity to sell at the supply zone which is in confluences with the 38.2% level.
-The Ema is above price suggests Medium term bearish momentum on the pair.
-Price previously broke the ascending channel which is also another indication that price could retest the supply zone and then we could start to see bearish momentum for this pair.