it looks like gold has successfully violated the 2011's/2012's highs and closed above them.
now it is quite probable that the price will manage to reach all time's 1919.0 high soon!
here, just with ATR indicator we will try to assess how much time it would take for the market to reach the above-mentioned...
USDCAD is forming an inverted expanding triangle on 4H.
the price respects a horizontal 1.361 4H structure support with equal highs, setting new lower lows after each test.
yesterday the above-mentioned structure was reached again.
the price has formed a bearish engulfing candle and was rejected.
on 1H the price has...
this week gold just kept breaking supports, one after another, and on Friday sellers have reached a key daily level.
on 8H/4H chart we see a nice combination of two harmonic movements with a perfect match of their projected completion points.
moreover, we have a perfect fib.confluence of the last two bearish...
to trade wisely gold next week here are the main points to consider.
higher time frame perspective (daily/weekly):
-market is in a strong bullish trend
-market is approaching a weekly resistance
-1779 - 1802 is a strong weekly resistance cluster
-1738 - 1749 is a strong daily support cluster
lower time frame...
Could we see a slight pullback before a significant downside move? Dollar is in a bad place right now, it may be getting stripped of its safe-haven currency title. I would like to see a retracement and a sell confirmation before entering this trade.
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GBPUSD is trading within a rising parallel channel .
Next week we can expect a bullish continuation from its support.
The next goal for buyers is 1.2425 structure resistance based on 618 retracement of a major leg.
two weeks long consolidation on wti.
the price was trading within a narrow horizontal range bouncing from 31.5 support and respecting 34.4 resistance.
Friday's price action was different.
it was the first time when the price set a higher low after testing the support of the range.
and then, during the US...
what a short rally on GBPUSD on Friday!
the price has surely broken below a major daily structure support level.
now we will expect a further decline to the next major levels:
1.20 level is 2019's structure low and I truly believe that it is the current goal for sellers.
1.19 level is 2016's structure low...
I am expecting the US Dollar to gain some strength this week, taking out previous highs, potentially retouch the broken trendline. We can see that the -27% Fibonacci lines up with previous highs well with these previous highs and then the next Fibonacci with the back of the trendline. This will give us a good insight into all USD pairs which are looking very good...
. There is a possibility of temporary retracement to suggested support line (1.4162). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. USDSGD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support....
. There is still a possibility of temporary retracement to suggested resistance line (0.6075). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. NZDUSD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a...
GBPAUD broke a major rising trendline on a daily time frame!
now we can expect further bearish continuation to the next structure levels:
support 1 - 1.92 (based on a match between historical levels and 382 retracement of a major leg)
support 2 - 1.88 (based on a match between historical levels and 618 retracement of a...
on EURUSD chart we see a perfect example of how a trader can variate a risk:
we have three perfect entry levels for long trade:
1.08 level - current structure (previous low)
1.07 level - current structure low
1.06 level - support of the major channel
1.06 level gives the safest long entry with a very tight...