We are looking to go long on Gold if price reaches our validation level of 1911.070. Gold continues rising for 4 months straight acting as risk off for market participants. Once we've entered our exits will be set at 1935.247 which has been strategically set around a trend based .50 level.
A short position of AUDNZD is currently on our radar. The disappointing print of Australian GDP was the movement catalyst and chances are the bearish momentum will prevail. The price is currently in between two S/R zones and might possibly stay there as Monday's session are usually slower. We anticipate the overnight gap to get closed. Our current point of entry...
Pending long position for AUDCHF, we expect price to make clear rejection off our MA + fib level to confirm our long entry on the pair. Once we have ourselves positioned we will take our long position to 0.67140 for a full exit.
Looking to go long on AUDCAD. If we see wave (X) fully form and begin gaining momentum off the 61.8% retracement level (0.96028) we will make our long entry, a second long position will be added when we begin rising from first entry to 0.96149 (second entry). Second entry will be exited at 0.96684 whilst having 1st entry modified to break-even on stop. 1st entry...
A second long position is on our watchlist for EURUSD. Strong bullish momentum has been followed off our MA level as well as our monthly trend. Long entries off 1.18286 with TP target at 1.19676 (140 pips).
Looking to go long on AUDJPY. If we see wave (X) fully form and begin gaining momentum off the 61.8% retracement level we will make our long entry, a second long position will be added when we begin rising from first entry to 77.046 (second entry). Second entry will be exited at 78.457 whilst having 1st entry modified to break-even on stop. 1st entry will be...
Still waiting for final push down to 1.17291 mark before we can take our long positions on AUDUSD. Formation of wave (B) with low market volume will increase retracement back to wave (C).
Profit taking point is 0.74549 - 249 pip profit.
Currently waiting for USDJPY to reach and reject our point of entry at 106.656, structural support + fib zone combined provides a very solid entry. Once entered we are looking to target level 104.668 which will net us 198 pips on the swing trade.
VPOC long entry CHFJPY from point 116.696 after price rejected from 61.8% fib zone. We have a major resistance zone at 117.009, if we break above the level we could add another potential long to capitalise on a secure trade. Take profit level 1 = 118.679 and the second take profit = 120.110.
A break of our 50% fib level will validate us going long on AUDNZD. We've set a limit order from point 1.09390 just a little over the 50% mark. Leg 1 completion will be at 1.10903 (158 pips) and remaining 0.39% of trade closed at 1.11357 (210 pips).
Still waiting for final push down to 1.17291 mark before we can take our long positions on EURUSD. Formation of wave (X) with low market volume will increase retracement of wave (Y).
Profit taking points are 1.19678 (First) and 1.21143 (Second).
Looking to go short on GBPUSD. If we see wave (X) fully form and begin losing momentum at the 61.8% retracement level we will make our short entry a second short position will be added when we begin dropping from first entry to 1.31599 (second entry). Second entry will be exited at 1.30532 whilst having 1st entry modified to break-even on stop. 1st entry will be...
This trade is not valid to enter yet.
We have a potential buy position setup on AUDJPY, if we start seeing bullish momentum off our 75.863 we will look to make the entry. However, if we see heavy bearish pressure and it breaks below 75.307 the whole setup will become invalid.
If we manage to get a long position in, we will look to make an half...
VPOC DIRECTIONAL SHORT
We are seeing volume slow from the range bounded USDJPY. We may see a potential bear surge from point of 106.169 (controlled VPOC zone). If we see a rebound off the level it will be clear indication to begin taking shorts on and target 104.209 and 103.042.
Awaiting a retest off 115.359 on CADJPY, if we fail to retest off 115.359 we will look to make a second entry from 114.771. VPOC shows us strong bullish momentum building from traders further adding confidence to our analysis. The much preferred 2 take profit system will be implemented on this setup with our first target level at 118.269 (net 2.54%) and the second...