Shorting gold on the 61.8% retracement to 1204. First target at 1180 while second is 1165.
This is a trade that I took yesterday on my eToro account www.etoro.com I've understood and agree with the analysis done by Chartwatchers and shorted from the top, aiming at $43.
There's a divergence on the RSI and on a clean break above the neckline (a candle opening and closing above neckline), wait for price to retest the neckline and enter a long, aiming at 2.618%
Gold just broke 1170 support, and will probably test 1160 again. With a bullish divergence in the rsi, and an over bought USD, I expect gold to be bottoming out. I stop loss is tight at 1157 in case it breaks through. Another major support is around 1148-1150 area. If it breaks that, I'll be surprise.
Going long here is risky but the risk is to reward is attractive. That said, a breakout will activate my pending sell with a target that aims at a 1:3 risk:reward
I've already entered in M15 on the breakout but more opportunities to join the trend on a pullback. Watch out for FOMC meeting next week in the case they didn't change interest rate. With a change to 0.25% there might still be some sell off in usd but downside should be limited. 3% risk here and target is chosen to be closed before FOMC
With NFP results tomorrow and a much better than expected ADP employment change results on Wednesday, I expect further fall in gold prices. A good entry point will be at 1182, a 61.8% rib retracement with confluence to past support structure. A safe stop loss is above 1197. Target is at 1152 at 141.4% extension. I see gold going all the way to 1120+ but 1152 will...
A divergence on the rsi can be seen and a confluence with previous high.
Another divergence spotted on SPX500. Neckline is quite queer here. As such, I'm opening a trade at another test of 2120. Let's see how the Asian and Europe market digest FBI's move. If it's a risk off, we'll see more sell off. Best to observe on Monday before getting into a trade.
1250 Held as a support even with a strengthening dollar and I continue to see that as a floor. Long from 1261 with tp at 1290 and a sl at 1248 - a 1:2.5 risk:reward. I expect the tenken-sen in the daily chart as a support as well. A test back into the ichimoku cloud is expected before a continuation of a trend or a reversal. A tp at 1290 is set before a test of...
This is not my original idea but I'm putting it here just to record the trade I've taken. After Kar Yong posted about it, I placed a pending order back at the 61.8% retracement in the case it's tested again and it did. Stop loss is very tight as I'm unfamiliar with this pair fundamentally. As such, stake taken is very low too. I'm just trading it off fib patterns...
Missed the breakout from the neckline from one of my previous trading ideas. Reentered at the 61.8% retracement. Stop loss will be previous high
Price testing 61.8% retracement at 104.00 in confluence to past price action around the area. Stop loss is tight, 7 pips right below it. Take profit at yesterday's high.
A short open when the next 30 min candle opens below 2147 with a tight stop loss above last high. Take profit at pivot point with a 2:3 risk:reward. Forward testing a modification of a strategy I recently learned
Price is supported at 103.800, a turncoat structural support. Price has bounced off 61.8% retracement and is currently at 38.2% retracement. Price has reacted here quite a few times before. I have a long bias on USDJPY as in the daily time frame, it has broken it's downtrend and has broken above the ichimoku cloud. My bias is also bolstered by strengthening USD...