the dealing range at 0.009359 if kast week should be touched then price should jump back to the 4 hour Resistance of 0.009396 and then the daily level of 0.0009400... will see next week
AUD / CHF back again on dynamic resistance.
We have seen currency pair bounced inside the channel for nearly two months.
Monitor closely the price movements in the 0.7630 to 0.7680 area. A new bounce or overcoming this could be good opportunities to invest in the pair.
Major selling will be reversed now, the dollar will weaken this week TVC:DXY
So if the dollar drops gold will rise, target 1 can be 1280 then 1300 long term after that
Entry BULL/BEAR/BULL Setup with the trend
Market Sentiment Strategy:
Based on Naked Price Action. The only indicators used are two simple moving averages, taking into account minor and major Support and Resistance levels.
80% of trades are made with the trend.
20% of trades are made against trend, only once change in market sentiment has been confirmed through...
Reversal may happen but because marlkets are bullish the low of the week may be touched on the start of the week so maybe down for now and then start buying later. Alot of recent accumulation shown at101 level because of smart money so current buyers might get trapped.
Oil is now at the top of a wedge pattern on the 4H chart. Look to see how price reacts at this falling resistance. It is also close to the 127.2% extension ($47.53) of the previous swing high. The previous high of $47.72 created on September 8 could also act as resistance. Look to buy retracements but be aware of overhead resistance zones. Look for reversal...
4h Head and Shoulders. The Neckline TL was copied onto the left shoulder peak to project the right shoulder peak price. Wait for the breakout of the yellow TL to go bearish before selling.
FX:GBPCAD is touching the 50 EMA with a slight green doji appearing showing the end of the minimal downtrend. The stoch is showing oversold and will touch the highs of the 1.74 level again that it was struggling to touch before.
major downtrend and choppyness has shown a difference since price is touching the 20 EMA price is rejecting 1.243 level since yesterday but to day price should rally, I looked at the daily chart and saw the signs of a reversal also
EURUSD 4H - Looks like it will continue to go down to the trend line and form a bullish swing up to the target. However, when breakout the trend line it will go down to the channel line.
AUDUSD has been making a series of Higher Lows.. This potential Bat Pattern will be an ideal spot to take a long on this pair. It will give you great Risk/Reward. I will be using it as spot for a TCT (Trend Continuation Trade) and will be targeting the recent highs. I will be trailing my stop on the way up IF the market allows me to.
Best of Luck
GBPUSD 4H - looks like this pair will continue to be bearish based on the fib extension. Looking forward to hit the 1st target then retrace and move down to the second target.
Trade responsibly! Please comments and share other ideas.
Price has been down-trending for time now, so all this choppiness is indicating to to go back to normal. EMA is being touched soon so price will stablise soon.
Test monthly resistance level.
50% retracement.
4hr high test candle.
If we get a bearish close on the next 4hr candle this will be taken short. Targets are at 50% and 61.8% of previous swing.
