Hi everyone , i hope trading is good. Looking at this market we can see that it is flowing in a uptrend with clear signs of higher highs and higher lows, which is why this is a good opportunity to go long.
And the beautiful scene is that the market is almost finishing to correct, we just wait for a more clear breakout of the corrective wave.
As we can see in the chart above price recently approached a key level at 1.21220 Area and rejected it beautifully after creating a double bottom pattern thereby respecting a previous structural support level at 1.21400 which we could see multiple wick rejections from in the past, for this reason I expect price to pull back to the 1.21400 Area before a strong...
EURGBP - Struggling at a major support zone, chances are there for a good bounce back.
Follow the support level as a stop loss level and approach should be a buy here at current price for target projection as mentioned in the chart.
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Refer the chart for detailed analysis ;
Gold is looking weak at this moment and it will drag down unless it's not crossing above 1958 strongly.
Follow the levels mentioned in the chart, for any confusion write in the comment section.
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long short for the USDJPY. trend following and double top divergence on the MACD this both clearly indicate a down trend confirmation, also according to the COT the USD is losing position of about 2,433 on the long and the JPY even though also losing 10,851 on the long is remain powerful since is still have a lot of traders on the long move.
First off I was going to make this a private idea because it is long term.. and if you follow me then you know I DO NOT like long term predictions. Intra-day clues and signs are much more valuable to traders like me, but today's end was so crazy I thought it might be a move that is following a longer term trend. It definitely made me go "hmm".
Technicals: On the previous GBPJPY analysis, what I was looking for in particular was a raid of the previous highs which did happen. Liquidity has been taken from creating a higher high. Thus, my bias is a sell now. After the retracement back into the Demand zone, market is now going through a retracement which I'll be entering sell position at 133.4. A standard...