MarcellusLUX

MarcellusLUX

Dear traders, Ethereum broke out of the 1750 resistance level on 24 October. However, we are seeing the absence of a follow-through here. If you notice the last few daily candlesticks, you can see some long wicks at the top of each candlestick. This indicates that we might have had a false breakout. If ETH falls back below 1750, expect another drop to 1540 soon.

MarcellusLUX

Dear traders, Bitcoin has been strongly bullish over the last few trading days. However, we are likely to see a pullback now. The price is quite extended from it's 100-day exponential moving average. Along with that, we also have a couple of bearish candles in the daily chart. A combination of these factors could lead BTC back to the 30K area from where we can...

MarcellusLUX Updated 

Hello trades, the area around 1990 is turning out to be a hurdle for the Gold bulls. If this area contiues to be a tough hurdle to break, we can expect a pullback in Gold. The target for the pullback would be around the 1910 level. This is a low-risk set-up because the potential profit would be at least 7 times than the potential loss.

MarcellusLUX Updated 

Dear traders, we have the probable formation of a double bottom pattern in the daily chart. In addition, we also have a bullish reversal candlestick in the daily timeframe. A combination of these two factors gives us a reversal bias in GBP/USD. A potential long entry in GBPUSD@1.2080-1.2110 with SL below 1.20 and TP at 1.2350 is on my mind.

MarcellusLUX Updated 

Hello traders, sometimes, it is essential to analyze the charts in the weekly timeframe to get the bigger picture of the trend. Of course, it doesn't mean that you must take your entries on the weekly timeframe. So, if you look at the weekly chart of EUR/USD, the very first thing that you would notice is the weekly support around the 1.05 area is unbroken...

MarcellusLUX Updated 

Dear traders, in my previous GBP/JPY trade idea, I recommended you to sell GJ@183.70. Shortly after, GJ continued to fall and went as low as 181.10. So, if you followed my idea, you could have made 260 Pips! (Link to the previous idea has been pasted here below ) Now, as per the current scenario, GBP/JPY is very close to the 100-day exponential moving average...

MarcellusLUX Updated 

Dear traders, in the 4hour chart of USD/CHF, you can see that price has stalled at the dynamic resistance. So, as long as price doesn't break this dynamic resistance, we can consider selling USD/CHF in this highlighted circular area and then put our targets at the previou low around 0.8890

MarcellusLUX Updated 

Hello traders, EUR/USD was strongly bullish yesterday. However, currently, we are witnessing a pullback in EUR/USD. Price is currently reaching towards the 1.06 key level. However, if this area holds, and price doesn't go below the 1.0580-1.06 level, I would definitely consider a buying EUR/USD. Buying the dips in EUR/USD seems like a wise strategy.

MarcellusLUX Updated 

Hello traders, in my previous Gold analysis I mentioned that Gold will pullback from the 1985 zone. As you can see, price reached 1955 today. So, if you followed my idea, you definitely made 300 pips. Currently, in the daily chart, Gold we are seeing a couple of bearish candlesticks. If the zone that I have highlighted in my chart continues to hold, then you...

MarcellusLUX Updated 

Hello trader, in both of my last two ideas on GBPJPY, I advised you to go long in GJ. Price was at 181.30 back then. So, if you followed you already made over 200 pips profit. Currently, on the hourly chart, GJ is inching closer to the hourly resistance at 183.80 zone. If the zone holds and we see the formation of some rejection candles in this area, then we can...

MarcellusLUX

Hello traders, we are finally seeing some signs of a bullish reversal in GBP/USD. 📌If you notice the daily chart, we have a couple of daily candles with long wicks at the bottom which indicates buying pressure. Yesterday's daily candle had a very strong bullish momentum 📌Currently, the price has pulled back toward the 1.22 level which might actually be a good...

MarcellusLUX Updated 

Hello traders, in my previous Gold analysis I mentioned that Gold will certainly reach at least 1985. Back then Gold was at 1955. So, if you followed my idea, you definitely made 300-400 pips when Gold reached 1997. Currently, Gold has pulled back a little from its highs. If the zone that I have highlighted in my chart continues to hold, then you can expect a...

MarcellusLUX Updated 

Hello traders, we are finally seeing some signs of a bullish reversal in GBP/USD. 📌If you notice the daily chart, we have a couple of daily candles with long wicks at the bottom which indicates buying pressure. 📌If the support at 1.21 holds, you can expect more upside momentum to build up in the coming days. 📌 My recommendation is to buy the dips in GBP/USD...

MarcellusLUX Updated 

Hello traders, we are possibly witnessing the a consolidation and building of a bullish base for GBP/JPY which will propel the price towards 185 and even 188 in the coming days. Currently, I do not have any open positions in GBP/JPY. However, if price dips towards the 100 day EMA level near 180, I would definitely consider a buy entry.

MarcellusLUX Updated 

Hello traders, EUR/USD is knocking at the dynamic resistance on the 4Hour chart once again. Now, this area is critical as it determines what the next direction for EUR/USD will be. As per my analysis, EUR/USD will go bullish in the next few weeks. So, if the 1.0580-1.06 zone is broken with a strong bullish candle, we can expect 1.0750 and even 1.09 in the next...

MarcellusLUX Updated 

Hello traders, in my previous GBP/JPY analysis I recommended selling at 182.70 as it was a hourly resistance. If you followed that idea, you made over 150 pips profit as price reached the hourly support. Currently, the price has rebounded from the 181.20 hourly support level. We have the formation of a reversal candlestick and based on the momentum, we can see...

MarcellusLUX Updated 

Hello traders, Gold has shown now signs of slowing down. In fact, every dip is being aggressively bought. This is quite expected because of the current Geopolitical situation in the Middle-East. Gold is definitely a safe haven for the institutions at the moment. So, based on the current trend, you can expect Gold to reach 1980 soon. 1980 is a moderate...

MarcellusLUX Updated 

Hello traders, EUR/USD is currently at a make or break level. Notice that EUR/USD has struggled at the moving average in the 4hour chart. If the bulls are unable to take the price above 1.06, then we might see further drops in EU . Currently, I do not have any open positions in EUR/USD and I believe the best approach right now is to wait and observe if price...