SageFXTrading

SageFXTrading Updated 

Gold has proceeded to push past the 1212 mark which, at one time, was very significant. It has continued its uptrend and at the moment is forming what could be either a double top or simply a continuation candle that will form a higher high. Do have patience and wait and see, the NY rush hour on Monday will be very telling. Also keep an eye on the USD Index, If...

SageFXTrading Updated 

If Gold does break down with clarity and momentum past this minor zone of confluence, then it will be an indication that it might be resuming its downtrend. If that is the case, I will look for an opportunity to short on a retrace. Good luck and trade safely.

SageFXTrading Updated 

It looks like the EURUSD might have lost its momentum. It has consolidated and has not broken the resistance line in the past week. My sense is that it might break to the downside in the coming few days. If it does, I will wait for it to retrace to the minor S/R line and look for a clear signal to short it. Nothing is for sure, so I will look for the market to...

SageFXTrading

It looks like the USDOLLAR has reached a strong S/R line. In keeping with the axiom of trading with the trend, I will be looking for clear signals, when it enters the S/R zone, to confirm that it will be continuing upward. Anything can happen, but in this case, there is a decent probability that it might continue with the trend. Good luck to everyone, trade...

SageFXTrading

In case you haven't already heard, there is the UK supreme court decision for Brexit coming up in a few hours. There could be potential volatile whipsaw effect. Best to close positions, watch and stay out. Remember to let market settle for a couple of hours before getting back in. Good luck everyone.

SageFXTrading Updated 

The FTSE has passed its historical key resistance in October of 2016. On both the weekly and monthly chart it shows a clear uptrend. My reasoning is very straight forward here, wait for it to reach the confluence of S/R and the 38.2% Fib and initiate a long position.

SageFXTrading Updated 

Like anything ending with USD, it looks like EURUSD has maintained it's upward momentum past local S/R lines. My bias is favoured toward the upside until around the 1.08700 mark. If there are clear signals this week, I will initiate a long position targeting key resistance as my final destination. Then I will look to short from there. Good luck everyone!

SageFXTrading Updated 

It looks like Gold has broken the key S/R line and could potentially be heading up. I will wait till the UK/US market cross over tomorrow morning to see if it is indeed a break to the upside. If so, I will wait for a clear retest or strong price action before initiating a long position. Good luck and clear trading to all.

SageFXTrading Updated 

On both the weekly and Daily chart, Gold still shows a downward trend, however, the lowest low was in December of 2015 and was not broken by the higher low just this December of 2016. Could this be the swing toward a rally of sorts? Hard to say at this point. However, on a more local scale. Gold may test the 1212 S/R area. I would look for clear breaks or...

SageFXTrading Updated 

Hope everyone had a nice weekend, we are now back to what could be a very volatile year with Trump as president, which is good for us traders. Based on the weekly chart, the EURUSD broke new lows at 1.03400 on Jan 3rd creating a lower low. My sense is that it may continue in that direction. The EUR is now at what I would consider a local S/R line. If it does...

SageFXTrading Updated 

It looks like AUDUSD has reached a very strong trend S/R line. I am looking for a short play with my target at the specified area. Good luck all!

SageFXTrading Updated 

The USDCAD -0.40% , like quite a few other currencies , is at a major zone of influence. Though the day chart shows an up trend, nothing is for certain. I am slightly biased toward the upside, however, there is high impact USD news tomorrow (today for some of you) and I will wait for it to react before making my move. Good luck to all of you, may the trend be with you.

SageFXTrading Updated 

Gold is now in the Key S/R zone. It blipped down today and then recovered and has continued up. Overall, on the day chart it is still considered a down trend, it is also approaching 1200 which not only coincides with the 38.2% fib extremely closely, but is also "at the number". Human behavior likes to buy/sell at round figures. If there is a clear signal, I will...

SageFXTrading Updated 

The AUDUSD has had a nice climb since December. It has now arrived at a key S/R zone. If it breaks through, I will wait for retest before buying in. If it breaks down, I will also wait for the retest before shorting it. I am slightly biased toward the downside, but I will wait for confirmation before making a move. If it does break down, then there is a high...

SageFXTrading Updated 

I will be keeping a close eye on the price action for Gold on Wed (depending where you are). Trump speaks tomorrow and that could have an impact on it. My position on it remains uncertain, it still shows a down trend since July, but is also now retesting key resistance. I will wait and watch and remain neutral. Good luck everyone!

SageFXTrading Updated 

Nothing in trading is a certainty, but there are times, when given the circumstances, there are things that have high probability. Though the weekly chart is down, the Day chart is on an up trend since Feb 2015. Oil looks like it is in a Key support range (blue zone) and my thought will be to buy when there is a clear signal of reversal. to retest the high of...

SageFXTrading Updated 

It looks like there could be the possibility of a rally for the EUR. If that is the case, I will wait for a clear signal to buy if it dips back down to 1.05300. I will make an assumption that it will rally up to 1.07200. I might take a counter trend trade at that point. However, if it breaks the 1.07200 mark, then the next logical resistance line is around...

SageFXTrading Updated 

It looks like the EURUSD broke the support line and is now making its way down. I am going to wait for a rally before selling into it. Keep in mind there is a lot of news coming out tonight and tomorrow (depending on where you are). For those of you wanting to be more aggressive, you can enter at clear signals in the local S/R area. However I would advice strong...