CommyTrades

CommyTrades

Oil has had a mad day and the OPEC meeting is still ongoing with expected cuts of 11.3m bpd from both Russia and Saudi. Further cuts are of 5m being targeted for those outside of OPEC. Anyway, fundamentals aside, the market is making a test of the golden 0.618 retracement level and with that, is forming the right shoulder of an inverted head and shoulder pattern....

CommyTrades

Gold has made a nice push to the upside recently and is approaching the previous high made earlier this year. Taking a fib on the recent pullback puts the golden ratio 0.618 at 1689, in line with a previous high on the daily and resistance level. Will be monitoring for an entry if or when price reaches this area

CommyTrades Updated 

Possible H&S forming on the 4 hour. Strong rejection of the descending weekly trendline (White). Looking for a bounce off the converging moving averages back to the trendline where an entry can be made with good Risk reward (min 1:3).

CommyTrades Updated 

AUD/USD like many pairs against the dollar has been absolutely crushed. Today appears to be a small correction. The price currently on 4 hour timeframe has continuously respected the 20 Ema and has approached and rejected today. Furthermore, the RSI remains in oversold conditions on the daily timeframe indicating a continuation of the downtrend. Client sentiment...

CommyTrades Updated 

Large bearish movement currently. Looking to retest 1540 level and 20 EMA looks as if it is lining itself up at the same level on the daily time frame. Additionally, on the weekly time frame this level lines up with 0.618 fib retracement. Will we get confirmation on the 4hr time frame?

CommyTrades Updated 

Golden crossover has formed on the daily frame alongside bullish momentum. Small pullback to support occurring with long wick candle rejection Monitor price action on the 4hr frame for confirmation

CommyTrades

Price is currently at 50 Ema and descending trendline on the weekly. Daily shows very strong bullish momentum currently. Need to wait for break of structure or rejection of these levels before committing long or short. Current trade sentiment is long - make of that what you will :)

CommyTrades

Head and Shoulder pattern complete with retest of the neckline (annoyed I missed the entry). More visible retest and push to downside on daily timframe Price currently approaching area of support - previous retested at least twice Waiting to see PA on the support and monitoring on 4hr and 2hr timeframes for entry! Happy Trading!! OANDA:XCUUSD