Shingi_Lesetedi

Shingi_Lesetedi

I posted a monthly H & S pattern this weekend and this is the best entry idea I can see that complements that analysis. Structure restest plus 0.382 fib zone rejection. Very tight stop protected by structure so we know when pattern fails and ultimately setup fails.

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We can see a perfect Head and Shoulders pattern here, if you drop down to lower timeframes you can find a sweet spot to enter short targetting 73.200's, if this pattern is to hold.

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Price has broken a rising wedge pattern from the bullish correction move and we could see it melt down to 21.1000's if the pattern doesnt fail. In addition we have a head and shoulders formation that could give a good entry to the bearish move.

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A simple impulse and correction pattern. We could expect another impulse to continue from marked zone as a structure retest. This will depend on how USD strength fairs the coming week.

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We are currently seeing a bullish correction in this pair and we could see selling pressure coming in at the marked zone which is a weekly neckline. We might get a good selling opportunity here.

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We have some text book price action showing a strong impulse to the downside followed by a correction yet to complete. If price breaks correction channel it might drop to 95.xx

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Price is trading within a wide horizontal channel with strong reactions on either side. The current trend is down and we are in an accumulation/consolidation range which looking at the preceding trend might continue down. If we get good PA at the highs of the small range and the stoch peeking out into oversold area we could look for a low risk short opportunity .

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Gold is testing channel highs for a second time forming a double top pattern. This will likely send price down to 1670's where it could either find support or break lower. The stochastic on the weekly is in seller territory as it is on the daily timeframe. We also have stochastic divergence which is nice secondary confluence. I'd like to see a better rejection...

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No one truly knows 100% where XXX/XXX is going at any given point and time in the market with 100% accuracy. As long as you don't have facts from current price action you probably shouldn't be placing a trade. Don't rely your money on gut feelings and guessing. For example on GBPAUD we have a bullish parallel channel containing price which is now at support. The...

Shingi_Lesetedi

Illustrated above we can see a continuation/reversal falling wedge that suggests the bulls might be looking to take over. If this happens, we could a strong bump in Gold while Silver struggles to keep up.

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If the FED and central banks don't put a cap on the Gold price and bring the numbers back down to 1647 then we could see price soar to 1790 highs, with or without a pullback. A lot of people are now eyeing this king metal.

Shingi_Lesetedi Updated 

If price continues to remain in the bullish structure I will look for long opportunities accordingly. Until the trend ends or enters a neutral phase.

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After price broke the trendline we can see a sideways drifting market. I'll be looking to go short once price breaks below the key support level. The head and shoulders pattern is a confluence factor that price might continue to the downside.

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After strong bullish correction in this market, I'll be looking to buy a breakout of the last swing high if I'm satisfied with the price action and triangle breakout. If we fail to make new highs I'll be looking to go short if and when price takes out the last swing low.

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Price has broken the trendline and taken out the last lower high with a bullish momentum. Price action shows a triangle pattern breakout which further confirms a possible bull run. The buy idea illustrated is subject to change depending on the market open.

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Price has broken trendline structure and also made a new higher high. With this bullish price action in mind I'll be looking to trade the breakout of the range marked on the chart.

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As long as the bullish price action structure remains we'll be looking to buy a breakout of the last high to the next potential resistance area. Price action prior to a breakout determine if trade is taken or not.

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Price has made a significant pullback after the huge drop and is now in the fib zone with a flat RSI and possibility of dropping further.