xsk

xsk

After an eventful (FED rate decision) session, the RSI is reading a position of over 70%. Im hoping to see a retrace from here, to create a lower low on the daily TF. My TP is set at around the 1845 coinciding with the bottom daily trend line. This is not definitive as we are also expecting the Non Farm Pay Roll news on Friday at 12:30 GMT which is renowned for...

xsk

I think you have about 24 hours to to enter the next BIG gold move. Gold is pushing firmly against the upper trend line and does look to be in a very strong bullish uptrend. However the 4HR chart does not look so good for all the buyers in this market. An easy bounce here sending it down to test the 1820 regions is on the cards. USD is very strong over the...

xsk

Gold is still indecisive while bulls and bears fight this one out. While the trend remains in the up channel we can expect a bounce around here. USD showing some signs of volatility surround trumps impeachment so a breakout to the downside is on the card for sure! There are too many buyers in this market for further downfall in my opinion. Trade with care...

xsk

50% Fib reaching sell off area heavily overbought

xsk

Formation of a new lower low and lower high are confluences for a possible downtrend. The price point previously reached this high area back in early March and the price was heavily rejected. A repeat of this pattern is more than likely, as the price has already rejected we can catch the rest of the pips down to the indicated support zones. RSI and Stochastic's...

xsk Updated 

My outlook on gold at the moment. We have a complete head and shoulders on the daily timeframe with a perfect neckline formation. I am bias long with gold set for 1800, however I can't ignore this technical analysis. All formations on each timeframe looks set for a big drop! There is a small head and shoulders forming on smaller timeframes (1HR and 30M). Things...

xsk Updated 

Price is currently reaching a make or break area. The double top formation on the 4 hour chart suggests further downfall however it ultimately comes down to NZD economy vs USD economy. NZD reported the nation is COVID-19 free which is promising for the NZD whereas the US-China tensions are likely to escalate. Ultimately the MACD has crossed on a 4 hour timeframe...

xsk

EURGBP seem to be repeating a previous pattern. Stochastic's showing signs of downward movement on the 4hr timeframe. RSI also oversold supporting downward movement. MACD has not crossed yet and may be the final indicator to wait on before entering this trade. Large risk to reward ratio on this trade if executed after awaiting confirmation.

xsk

Weekly trend line has still not been touched on GBPAUD, MACD and RSI showing support for further downward movement. However Stoch is undersold which could be a small move upwards before downtrend continues. Waiting for the failed breakout of the 1.83200 zone before entering a short trade.

xsk

How many times can it touch????

xsk

Bear flag, bearish day for NZD incoming :)

xsk

SHORT IDEA FOR EURGBP HIDDEN BREAK AND RETEST 23.6 4HR FIB TEST RSI STOCH CONFIRMATION STRONG SELL OFF ZONE

xsk Updated 

CURRENTLY HOLDING AGAINST DAILY TRENDLINE HEAVILY OVERBOUGHT ON 1 HOUR TIMEFRAME TESTING 61.80% FIB RETRACEMENT LEVEL CURRENTLY FORMING A DOUBLE TOP ON 30M TIMEFRAME WAIT FOR PULLBACK AND MACD CONFIRMATION BEFORE ENTRY AS A BREAKOUT HERE COULD CREATE NEW HIGHS

xsk

BREAKOUT OF BOTTOM TREND LINE RETEST CURRENTLY IN ACTION HIGH RISK/REWARD RATIO WEEKLY RSI IN AGREEMENT OF CONTINUES DOWNTREND MACD CONFIRMATION ON HOURLY

xsk

Possible outcome for Gold following outbreak

xsk Updated 

With the price point now reaching a consolidation area following the recent general elections. I see the the strength of the pound greatly encouraged by the re-elected Boris Johnson. There is the possibility for the GBPUSD to reach daily highs in the coming days. With an almost certain retest of the 1.32250 Price point (to form a right shoulder in a H&S...

xsk

GOLD has just retested a very low price point region and has just formed a head and shoulders pattern on the 1 hour timeframe. Along with RSI and MACD confirmation this enough for me to BUY big lots in gold holding this position till at least the 1494 price point, however we could be expecting all time highs!! Hold positions for as LONG as possible :)

xsk

The chart suggests that GOLD will regain upward momentum after hitting a well respected support zone (indicated in yellow) and possibly continue up to 1516.00 price points with the possibility to continue further into record highs. However, due to golds volatility today the possibility of a breakout of this zone is looking more and more likely, which could be the...