Here is my second option for a long trade entry on gold. My previous entry at $1502 went well but price then declined overnight.
Gold is now at the $1488 support zone which has proved very strong in the past few weeks/months. I am looking to long here with stops below the lows and aiming for two targets.
TP1 = $1520 (price action zone)
TP2 = $1550 (upper resistance)
Bearish bias on FTSE100 index.
Previous 4hr support zone broken and retested.
Bullish Trendline broken and now retested.
Fib 0,618 and lower high forming.
4hr 50ema to act as dynamic resistance.
Final TP around the 7100 level
Lots of confluences for a short trade on GBPUSD.
Pattern Trading - Head & shoulders pattern confirmed on the 4hr timeframe (yellow circles)
Bullish Trendline Broken
4hr 50ema broken to downside
Lower low and lower highs now made.
Looking for a pullback in to the bearish TL and a retest of the broken bullish TL.
Price might keep dropping from here so the fib...
Here is a nice simple day trade set up using my day trading strategy that I sometimes use. It relies on a few technical indicators and the ability to spot the current trend.
Trend = Bullish
Price = Above 50ema
Price Rejecting Daily Pivot Level
I cover the full set up and teach you how to spot these trade in my trading strategy guide that you can buy online now...
EJ has now broken a bullish 1hr trendline and made nice lower highs and a lower low.
I am looking to short on this pullback now we have seen multiple 1hr rejections of the 119.500 level.
Aiming for a new lower low at 118.500
Nice set up forming on USDJPY with multiple timeframes coming in to alignment.
Daily timeframe is producing a new lower high with price rejecting the fib 0,786 retracement level and a previous bullish trendline to act as resistance.
I will wait for the 4hr chart to produce a trend reversal set up before entering. I want a lower low and the bullish 4hr trendline...
Momentum looks to be slowing on AUDUSD with price trying to roll over at this level.
1hr timeframe made a nice lower high and resistance at 0.68850 has held strong again. Multiple daily wick rejection candles formed last week.
If this bottom TL breaks then new lower lows will be made.
Nice liquidity zone and resistance forming at this level.
Looking for price to drop back down from here with 2x profit target levels at various points.
I will keep my stop loss way above the wicks and liquidity zone at this level.