GOLD HAS HAD A GOOD RISE TODAY
THE RESISTANCE LEVEL WAS BROKEN AND HAS CONTINUED THE RISE
AS SHOWN FROM LEVEL 130.934 TO 135.098 THERE HAS BEEN A PULL BACK THEN RISE PULL BACK THE N RISE BOTH TOUCHING THE SUPPORT LINE SHOWN ON UPTREND THE THIRD PULLBACK DIDNT TOUCH WHICH I THINK MEANS THIS WILL BREAK OUT AND CONTINUE A NEW RISE WAITING TO CATCH ON A PULL BACK...
Last week, GBPAUD and GBPNZD were identified as potential buys and buyers did not disappoint
This week, GBPCAD could be the chart to concentrate on as price has broken the previous daily high and downtrend
Look for intraday buy setups should price stay above 1.6230
The Loonie is starting to look very interesting.
Still in a Weekly Phase 2 and trapped between the Monthly R2 pivot and Yearly pivot, a break above and price could reach the long term trendline. Any sell trades should initially target the yearly pivot.
A clean break of the yearly pivot would open up to more selling.
As we can see on the 4H time frame we have had previous Higher highs and Higher lows.
We are now waiting for a break above our Daily Resistance level at 106.800 and also a strong previous Supply zone at 106.650.
We will be aware that price could in fact reject the Supply zone and break below trend towards 107.350 which we would look to enter upon a break of...
Trading week ended in undecided whether the bears should continue dragging the currency pair down or bulls should start taking the pair upward. Next week will be an interesting runs for AUDCAD.
A risk/reward of 1:3 could be in play. However, in other to achieve this, resistance at 0.90295 and 0.91000 needs to be violated by the bulls to push the pair to profit...
Publishing this chart mainly because I haven't yet found a way (on the Pro plan) to save all my charts.
Spending time studying and revising charts only to have tradingview 'forget' them whenever a browser tab refreshes or reopens is quite frustrating!
Anyway, I bought AMD on both bad news / rumours and a bad day for the markets generally (trade war Yuan...
GbpAud gartley on the 60 with a potential to extend targets if you are someone looking for retest of the lows. I would be slightly conservative take T1 at a conventional 382 and then T2 will be at that retest of structure
Take profit would be at the 382. fib level because that was were the recent noise at that area looking left. It does go a little against what I was looking for but the pin bar which touched the 618. fibonnaci level seemed to be a strong enough signal in my opinion to take a long trade to the upside.