Looking to enter a short position on a clear breakout of zone.
Yesterdays daily candle closed with a massive 76 pip top wick, markets tried to rally and failed so we expect the market to now drop down to the next Support zone.
With the tensions regarding the US and North Korea quieting down and that the USD has started the week bullish we think that Gold could be a great short.
We are looking to enter on the back of some 4hr bearish candle formations which close below the 4hr Support zone and therefore also breaking and closing below the two Trend Lines.
Bounced from the long term daily trend line.
We expect the EUR to continue its bullish rally and to continue to the top of this Monthly Ranging Zone.
May experience some resistance around the daily level so will be actively managing.
We missed the short entry on the retest of the 4hr Resistance level of 0.97643.
We are now waiting for the market to break the 4hr Support zone around 0.96717 before entering.
Expecting the market to run down to the previous weekly support area, to break it and make a new lower low.
As per previous update on GBPJPY. Market has retested and tried to break the 4hr Zone and failed.
Shooting Star Candle testing the top of the Zone, coupled with the 0.618 Fib Line looks like a clear sell.
We have our order place below the Support Zone at 142.178, expecting the marker to drop to the next 4hr zone of support at 140.826
Our first order wasn't triggered when the markets re opened.
We are now expecting the market to rally to re test the Trend Line before dropping to our TP Zone.
Our overall Sentiment hasn't changed regarding this pair, however now we are able to enter at a much better price allowing us to achieve a high Profit ratio.
We are looking for Bearish candle formations...
We are expecting to short this market. The question remains where to enter.
We are either expecting a rally to test the daily resistance level and the looking to short on the back of a Bearish candle formation around this area.
The market is currently on a 4hr support area, if this breaks and closes below this level we are looking to short straight away back...
WE sold USDJPY last week with a perfect entry point and closed for 64.5 pips.
The market found some support at the 4hr support zone and has rallied up.
We expect a re test of the Trendline, which also falls upon the 0.68 Fib line before falling back to our TP Zone.
EUR has been bullish for a while now and there doesn't seem to be much reason for this stopping, especially with a lot of high impact GBP news this week which we expect to be negative therefore given the EUR the push it needs to run up to our TP area.
We expect the market to fall, retest the Monthly support area where we will be looking to find a bullish entry point.
Fridays Candle ended the week as a Spinning Top, coupled with testing the 0.236 Fibonacci Level i am expecting downside. The close of Fridays daily candle broke and closed below a strong Trend line and was also a bearish engulfing given more confidence to further downside.
Breaking this down on the 4hr time frame i will be looking to enter into a sell position if...
Second sell on GBPJPY this week.
Market hit previous support where our first TP line, however continued to fall and triggered our 2nd sell position. Closed below another 4hr Support Zone.
There is no sign of the GBP gaining any strength so will expect the market to continue to fall unhindered to our TP.
Looking to buy on the top of the previous resistance level of 1273.289 which has now become support.
Expecting a Bullish rally up to Daily resistance level around 1305.
Could experience some resistance around the weekly level of 1287.643, so will be moving SL to Break Even once this level has been reached.
The market found some support at the monthly support level of 109.865, we are expecting a bullish rally to test the descending Trendline which also falls between the 38 and 50 Fibonacci level.
Looking to sell at 100.169 and expecting the market to sell off down to the Daily Support level of 107.367.
A potential 280 Pip movement.
Has been in a nice uptrend for the last few days.
The current trendline has been respected twice already on a 4hr chart.
I want to be buying once the market re tests this trendline as i expect a large bounce through the monthly resistance level at 1.26900 all the way up to the daily resistance level around 1.28195.
I will be placing a relatively tight stops...
Expecting GBP to rise to test the Resistance level and possibly test between the 38 - 50% Fib levels.
I am looking for bearish price action to find a sell entry point and if this happens i expect the price to fall back to weekly support of 1.63224.
Buy order above the close of the 4 hr candle. (117.860 )
Broke Support, however bounced straight back from trendline, and closed back above all 3 Moving Averages. Expecting bullish movement up to 1.20000
Could experience some resistance around 1.18835, and a potential pull back to the trend line around 1.18192.
Can see a bounce from this level and for the EUR to...