Double Bottom Strong Support at 1.03100 - 1.02800
- Double Top pattern move has done at the 1573-1574 area. If it's done it a false double top pattern and creates ascending triangle formation. Going to have a close watch on this one. - The trendline structure is not broken. - Strong support at 1563-1562 as SL, and 1600 is as TP. High-Risk trading on XAUUSD, money management wise.
Small risk. R/R: 1:3 Price hit a targeted support area at 0.67100-0.67000, take SL at the lowest shadow on 0.66500-0.66700, TP at fib retrace 0.5 around 0.68600-0.68800
Potential short on AUDUSD, HnS formation at H1, H4, Daily if it's not break the nearest resistance.
Elliot Wave 12345. Cup Holder. Small risk. Let me know what you think in the comment.
this analysis based on Hammer candle and fib retracement only. highly volatile. trade wise.
Interesting form on NZDUSD - 99% Cup and Holder pattern (4H-daily tf) - S&D area at 0.67300-0.67850, hit twice - Candle form now forming a pattern of "handle", ready to go up and retest resistance in S&D area, entry now with TP at S&D area, or wait for breakout. Otherwise it's sideways and waiting for more confirmation. Personally, I will take entry right away...
Potential Short on USDJPY (daily) Taking a small risk. R/R 1:1.5 Trendline (daily) still bearish. Breakout at 110.050 as Stop Level. Strong resistance at 109.750
potential double top on Daily Timeframe. taking small risk. R/R : 1:2
potential H&S and double top on H4, not a too valid confirmation for double top. But monitoring H&S confirmation. should it hit the Fib level at 72.500-600 (Fibo level 0.5) ?? entry now would be aggresive as a trader. waiting to touch the 0.5 fib level.
Major trend still bullish with heading to test 1539-1550 area Formed double top on H1, taking a small risk for Short with R/R 1:1 Ready to cut manual profit/loss and possible to entry Long.
retesting area 0.67400-0.68000 or slightly go to nearest support 0.66350 (daily TF) possible for cup & holder formation.
Descending Triangle on H4 and D1 Still bearish trend R/R 1:2
USDCAD outlook on D1 and W1 forming a nice descending triangle. For entry, try to change to a shorter time frame. Personally, I speculate for a short position but depend on the market if its break/test support or continues the upward test resistance area.
Speculate for bearish outlook market on USD index next year. - Trump impeachment - US Presidential Election - trade war drama continues - Uncertainty world market -> Brexit etc - Russia China are dumping $$ and increase gold production. More countries will follow. - Technical reason: break trendline structure on TF D1 and W1
There's a valid hammer bullish on timeframe Daily for XAUUSD. Possible for Long. If you want to jump on the wagon, there might be a retrace a bit down. Or for aggressive trader jump in on Long position right away. Disclaimer on.
strong support at 1.1000 - 1.09750 as Stop Loss and TP at resistance 1.10750 DXY : bullish, strong coreelation R/R 1:2