I Won't be taking an entry right now, but I think for later, this might be a possible sell position. You see that the price broke below 200 MA, that indicates that the price might continue the trend down. Also, we're now in a major downtrend if we look at the whole big picture. The USD are also quite strong these days. I would probably try and find some scalper...
This is my view for gold. I think these support and resistance levels are the best spots to look for entries. I have looked closely and the price have respected them multible times, therefore they will have a high rate of reaction.
I figured out this might be a good-looking support and resistance. Right now it might be in a ranging phase. It tried to break below and continue in a downtrend, but it was a fake out. That means it now has a higher probability of going up if it creates a double bottom pattern for example.
I think it's pretty clear it's going in a downtrend. I feel like it will go down to the trend line below because it has been tested multiple times before. It overall looks like a triangle pattern as well. In a lower time frame such as 1 minute you can spot a head and shoulders pattern in current time.
Here's my idea for gold. Basically I'm looking for a reversal because it's currently showing the right signs for buys. It broke above trend line with momentum and a slow pullback. If it breaks above the other trend line made from pullback then we'll have a great chance of continuation to the upside.
Right now price is low down support showing rejection. It has been going down for a long while right? Eventually it will reverse likely most likely and go to the same levels as before. That's the thing with trading, we got buyers and sellers. Most people will eventually sell because of how much down it goes and when the market feels like the time is right it will...
My plan for nas100 is simple. I'll wait for a break below support level and a retest at resistance level. The price haven't gotten to demand zone yet, therefore (sells) only will be preferable until then.
This looks like the inverted flag pattern. I'll be sure to look for sells also because major demand zone is down below (weekly and monthly demand).
I'm thinking AN will go up to continue this broadening pattern. It just tested the 50 MA, that might act bouncy with a great force.
My idea for usd jpy is selling until break above structure. The price should be more bearish then bullish at the moment. Later it might break above 142.722, then it might have a higher chanse of going up.
So this is my idea for AUD USD, I think it will go down for the next year to come. If you go back to Mars 2009, you can then see that the price went up for a few months. That exact pattern might occur now in reverse at the same rate as back as. I'm gonna trade in 1-minute timeframe all the time, I'll not care about that main trend, just the short term because...
I have noticed AUDUSD is going in a pattern called descending triangle. It might go down for a few days then continue up? I guess time will tell.
This could potentially be the beginning of something big. In higher timefrme it shows more momentum to the upside at the moment. It does go in a down trend in shorter timeframe but, higher time fram should always be first to choose because it's more accurate. It might be attracted to monthly supply.
USDCAD is about to maybe blow up. It is currently far down (over sold). It also just broke above structure.
GBPJPY just broke below structure. Might have a good chanse of continuing down if it isn't a fakeout.
This pair, GBPUSD is clearly in a down trend atm. Right now im hoping for the fib to possibly work correctly. We do got a strong resistance up that might go well along with the fib retracement.
Right now the market is very far up. It looks like it has a huge gap above the blue resistance which means there is more buyers then sellers at the moment. That also means market is more happy to go down if my analysis is right. The market loves to go against the majority.
Here is my analysis for GBPUSD GUYS. I've marked up support and resistance, the price should want to go down because price is showing signs of weakness to the up side. A thing to keep in mind, price=attracts to keylevel.