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Hey traders and good people of the internet!
The New York trading session is fast approaching and before we get going to trade it, here's what we believe might be a big mover in the FX markets... thats right we are long on GBPUSD again!
Before we go into the GBPUSD setup... lets talk DXY a little bit.
We have been waiting for a reversal on the USD for a few...
Oh boy oh boy!
GBPUSD has been making us some serious profits on the buying side for the last 2 weeks... and yet again, another pattern emerges but this time an even more powerful one that the rest! A CUP AND HANDLE PATTERN! (Bullish!)
We are long again here and might even increase our TP but we are sure to compound this treade!
Heres an excellent buy setup on NZDUSD with very strong indications of upside!
The pattern we are trading is a bullish flag / bull continuation finding support at a key level, all we need is a breakout from the uppter trendline.
The daily is tricky, so we might get out at 100%... we'll remain proactive and decide!
A video analysis is coming as a follow uP!
We took a little intra-day buy on USDZAR based on the details in the chart.
The Risk/Reward is decent and we are just looking to ride the trend here to the upside. We will lock in gains after a 0.3% rise in price.
Really nice bullish continuation here on GBPUSD's 4H chart supported by the bullish daily move which indicates further upside as we are in a zone of trading.
DXY showing big weakness generally... so we expect bearish USD today.
Boom! Looks like volatility is coming back to the markets!
We are gaining some good proifts on selling the DAX and buying XAUUSD... but its probabily time to get us some JPY too!
The daily chart on CHFJPY shows a possible head & shoulders pattern and indicates a strong possiblity that a reversal and retest of key support is due.
A video follow up is coming...
Brent and WTI remain in decent down-trends and the sentimental support a bearish outlook as the Coronavirus and OPEC put pressure on it.
Our system indicates great selling opportunity right now with a contraction leading ot 38.2% of the low/high of the recent movement.
Follow us, a video is coming as a related post!
**THE ONLY THING THAT WORRIES ME IS THAT...
Good morning from us!
Here's a little update of what we believe will be happening with the DAX over the next few trading sessions:
The daily is making yet another test of the broken contraction.
The 4H seems to have formed another contraction after the breakout and now retest of major contraction.
The 1H is heading to test the top of a bullish channel and...
We are back at it! This time buying XAUUSD after shorting it last night successfully...
We are going long for a few good reasons, the first is a complete review of the charts using Multiple Time Frame Analysis and the support of the 61.8% fib (yes we use it differently.)
The important thing to note is that our profit targets are set on WEEKLY...
So the GBPUSD is really showing excellent signs of a bullish reversal on all charts including the 1D, 4H and 1H... Im riding this baby up and expect TP later today.
The DXY is showing good weakness which supports my view of a weakner USD this trading week.
I will follow up with a video explaining all of this so make sure you follow me!
RSI is at it's lows on...
I don't expect a major change to the overall bullish trend rather I expect a correction to occur today.
Im trading a rising wedge which leads to the 38.2% of the recent high/low on 4H. On the 1H chart, there seems to be a head and shoulders forming in a rising channel which is solid indication that a reversal can take place. Yet on the daily I dont see anything...
WTI and BRENT are taking heavy hits for some time now with the price dropping strongly on both mainly due to the Coronavirus, but more recently (Friday) due to the OPEC members not being ready to cut production.
We expect based on basic technical analysis that price should be moving south, our TP and SL can be seen on the daily chart (on the right) while our...