Mete_forex

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Current situation We have a few confluence factors for a move to the downside. Right now this pair is in a very interesting situation. We can see an inverted head and shoulders formation (It is also called a "W" formation). After this formation, it is normal to see a push to the downside especially when we are at a structural level. COT reports On AUD we can...

Mete_forex Updated 

We broke a very strong structure level. Now, what should we do now? We will probably see a push to the upside because the market will probably retest that area again. We have a few confluence factors that show us that we will probably see a push to the upside. 1. Bullish divergence I am using divergence in my trading and I think it works just fine. This is just...

Mete_forex

XAUUSD Weekly timeframe On the weekly timeframe we can see a big push to the upside without any retracement (this is from the 18 Nov 19 to 3 Feb 2020 with no push down). Another factor that could lead to a push to the downside is the level that gold is on right now. Before in Sep 26 2011, Dec 12 2011, May, Jun, Jul, and Aug this level was well-respected...

Mete_forex

Resistance tested Resistance area tested again and therefore I am waiting for a push to the downside. We can also spot bearish divergence. I will be shorting this pair when I get a clear confirmation. Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading...

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Resistance -> Support We can clearly see a support level that went from resistance to support. After this, we will see a retest of this support (which is happening now) and a push to the upside were the currency pair will close a gap in the market. 50 MA crossover with 200 MA In 1-2 days we will see the 50 MA crossing with the 200 MA (Golden cross). This is...

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Confluence We can clearly see a well-known head and shoulders formation. EUR pushed the price up to a structure level and will probably push it back to the neckline which is my target. COT reports We can also see at the reports that the hedge funds are opening up for more short positions. We have seen an increase of 16799. DISCLAIMER! I am not giving...

Mete_forex

The currency pair is retesting a resistance that turned support. We will see a push to the upside +100 pips and close the gap, which a very normal thing the market does when a gap occurs. DISCLAIMER: I am not giving financial advice I am just showing how i am trading. Forex trading can be risky for new traders. Trading is at your own risk!

Mete_forex

If you are trading based on a divergence strategy like me then this pair might be interesting for you to look at before the market closes for this week. We can spot divergence in the weekly and daily timeframe which could indicate a push to the downside. We have seen a push to the upside (aggressive push) and we could be seeing a nice push the support level on the...

Mete_forex Updated 

Confluence On the daily, we can clearly touch on a well-tested support area. Another thing we can see is the bearish divergence which could be a sign for a possible push to the upside. Another thing we can see is the head and shoulders pattern which might lead to a push to the upside. COT If we look at the COT reports we can clearly see a decrease in short...

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Confluence We can clearly see a well-tested resistance area on the 4-hour chart a potential spot to take a short position. I am still waiting for confirmation in this area and therefore I will not trade this area blindly. Another confirmation is the fact that the RSI is overbought + it is that in a key resistance area. The last factor is the potential head and...

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We can spot an M pattern forming which is a very known pattern for a reversal (at this moment to the downside). Another thing we can see is the rejection from the resistance zone. There is also a bearish divergence that strengthens the my idea for a short position and the RSI is also in an overbought position.

Mete_forex Updated 

AUDNZD is pretty interesting at this point in time. Right now, we are at a very strong support level and we are waiting for a rebound. We don’t have any confirmation yet. What does the black lines mean? We can clearly see that after the ”M formation” was done the currency pair retraced down to strong support (which we also can see on the weekly timeframe)....

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We can see that the pair touched a key support level and is now moving up (we can also spot a bullish pinbar which might be another indication). Another thing we can see is the bullish divergence and the oversold position the currency is in. I am therefore pretty sure that we will get a good profit from this.

Mete_forex Updated 

We can clearly spot a W formation but the end of the W is lower than the starts and therefore we might see a push to the downside. Another thing we can spot is the bearish divergence. I will short it now.

Mete_forex Updated 

We can clearly see the touch on the resistance and a clear rejection with the bearish closed candlestick (I am looking at my broker's chart which is a bit more accurate compared to this SAXO BANK). We can also see that the bearish (red candlestick) is bigger than the green which indicates a bearish engulfing pattern and therefor a reversal. !!Another sign is...

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As you can see from the chart we moved from a demand area to a well-tested resistance and supply area. We can clearly see that it could not break that area of resistance and could not go to the next supply area and therefore it began moving down. As it moved down with nice big bearish candles it made a retracement to the 0.618 Fibonacci level (Golden ratio) and...

Mete_forex

STRONG SELL We can clearly see that we are in an oversold position and we could not break the strong support level. We have a bearish divergence on that support level which might be an indication of a strong short sign. Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make...

Mete_forex Updated 

Potential downward movement because of the support (We still need to wait and see if it breaks the support as we want it), right now we can slowly see that a wick is forming itself. Another confirmation is that we can see bearish divergence and we are clearly in an oversold position. I can confirm the short position until the 4-hour candle has formed itself.