Gold has seen a falling knife this week . we managed to reach the expected level. next week dollar may see a slight weakness resulting into a PB but later in the week dollar will gain more strength. therefore we shall see a PB to (OB) int the chart of gold followed by sharp downward move to below 1900.
AUDNZD is shifting the momentum. my target is set at the supply area. I hope it will reach the projected TP
1930 was a nice level. price bounce off it multiple times. For me Gold is prisoned inside a wagde (1970-1930). I see liquidity around these area. i will wait for the price to retrace upward 1965.30 to short it again with a target arounf 1929.80
Last week was an expected week. And dxy lost infront of GBP,EUR,CHF,NZD,CAD. We expect more weakness in the dollar strength by the beginning of the week. waiting for the price to hit 101.531 to entre buy position. until then see you
this week GBP has shown a lot of strength after the release of positive data on tuesday. we expect GBPJPY to extend its move to retest the resistnce @188.922 the high of 15 nov 2015. I will be bullish on this pair unitl the we reach the montioned level for now. this may take us some good couple of weeks to reach.
We are near a supply & demand area where high volatility is likely to oil shrink to 50 again. And if possibly we might see the psychological support @ 42.5.
The pair has formed a double top on the daily time frame near the upper channel. MACD-H Shows weakness of the bulls at the right side. this confluence a bullish divergence.Price pulled back @ 61.8 % feb on the 4H TF the last three bars failed to break above the 61.8 resulting a formation of long wicks and had made a lower low highs indicating the weakness of...
I will take the short to sell if the wedge is broken. the good place to sell is after the PB. MACD-H is showing a completed classical divergence. this motivate me that we are about to see more decline to the south, however the money management must be in place correctly to avoid market uncertainty.
Sell Entry : 1.2920 SL: 1.30135 TP: 1.27113
If we can not break below the trend line then we shall look for bullish formation and pattern to complete the right wing of the Cypher. Our next target will be around 1.8733. T his pattern is only valid if and only the trend was not violated.
Entry : wait for the PB ( EMA penetration) SL : below the last low by 15 pips.
wait for correction to complete to get a good R/R ratio