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LLOYDS BANKING GROUP PLC ORD 10P, MX OIL PLC ORD 0.01P, VODAFONE GROUP PLC ORD USD0.20 20/21, FRONTERA RESOURCES CORPORATION ORD SHS USD0.00004 (DI), UK OIL & GAS PLC ORD 0.01P, UNION JACK OIL PLC ORD 0.025P
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Gold, Silver, Crude Oil, Brent Oil, Natural Gas, Bitcoin
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Heavy resistance hit multiple times on the 4HR chart, ascending trend line after gap is also being respected. However, due to current nature of the pair expecting a break and a possible gap close dropping to a previous trend level.
Lovely set up into next week. Cross over of both 4H and 1D MA. Also currently on a daily 3 bounce. The rectangle marks the point where the market tried to push down however the proceeding candle denied the move lower. Will look for a close above the minor horizontal line to break previous resistance. This is what I see, this is my next move. Find what works for ...
Going long. Waiting for close, breakout of the trend line, close above resistance. Lets get it ;)
Notes to be read from left to right. Hope it helps.
Notes added, now we watch.
Extremeley overbought, in need of a retracement sits nicely for a continuation trade. Will go short on resistance dependent on the candle close, snatch a few pips and look to re-enter long again watching the news in r.e to unemployment claims and ISM manufaturing.
Hourly chart shows a bearish signal. Will continue to the 1.6410 area before continuing with uptrend. Waiting for the retracement into the .682, 1.6647 before going short. Stops just above visible resistance. Oversolf conditions which is why I have marked possible points for entry.
Watching the minor pull back to previously strong support and trend line. Then looking for a completion of leg 3 and a retracement back into the .382/.5 with a strong hold on support will look for a continuaiton of the trend.
Overall bias looks bullish H1, H4. Watching the current support levels, sitting at the .382 retracement from the swing low move of 11/23 to the swing high crossing into the 11/24. Will wait for the retracement to complete or a test of previous lows and if support holds will look for an entry and a re-test of strong resistance, 1.0229 marked as the upper red line. ...
If the new resistance level is unable to break, a double top could form, along with the strong USD and a bearish GBP outlook I'd short depending on the next candle
Maintaining bullish trend, however possible opportunity for you hourly traders of a bearish cypher forming after moderate consolidation.
Follow price action, look for a re-test of previous lows and the previous consolidation move and wait for the break back toward the upside. Marked key resistance areas including possible new resistance if strong support is broken.
3 double tops each heading lower. Follow price action and get on the short.
Looking for a strong retest/ possible consolidation around the Beginning of 2016 lows. Await a possible pull-back and another shorting opportunity if that support becomes new resistance
Double top into .618, Possible consolidation around previous resistance (.382) If pushes down will look to go long at support.
Ellipse marks new resistance. Believe it will drop to a new low and test/push previous resistance before pushing back up to green ellipse. Previous Idea was correct, so following on.
Consolidation trade. If re-tests support will enter at 1.2369, long and watch consol resitance level..