GBPUSD has closed below the middle bollinger band on the daily chart. It is likely to continue down to the strong support level located around 1.215. Enter at open of the market on 11/21/2016.
Looking for a setup now on lower timeframes for good entry, best to test previous resistance line (which was broken with a shocking crash for GBP) as support, which is now also at 38.2% retracement and 20 MA of BB. Decided to share this idea due to its pretty decent R/R Ratio. Good Luck!
Hello Traders, This is a mid-morning update. Following Gold's failure to close yesterday above the previous day's high, and today's failure to hold above the 1267 price level, I closed my Gold position that I had opened last week. While it would be very unusual for price not to at least touch the midpoint on the BB, there is also a very good chance that price...
Good Evening Traders, It's always nice to have a solid move after an inside bar and that's exactly what we got today with Gold. Gold closed the day up 6.3 points to close out at 1262.9. After trading sideways for 7 days, including that inside day yesterday, the precious metal was able to finally push up past the inner Bolling Band. In addition, the Stoch RSI is...
Good Evening Traders! Another lackluster day for Gold, that's for sure! Gold traded up to a high of 1258.2 but that was not enough to break last Friday's high, showing that Gold remains extremely range bound. On the positive side, the Stoch RSI continued to make its way toward the 20 line, giving the bulls hope that a breakout is due in the next couple of days....
Hello Traders! Gold prices have maintained a steady state at the 38% fib retracement level. That fib is drawn from the low of 12/15/2015 @ 1056 to the high of the year at 1383. Steaming from the big selloff two weeks ago, the Stoch RSI has had time to stabilize and may be ready to move above the 20 line. Could this be the beginning of the next cycle up? We...
Trend continuation with good engulfing setup at resistance line. Only negative point is the bollinger middle band as support. Good luck!
Strong engulfing at support zone. Good luck.
Strong bearish engulfing after doji, setup at resistance zone. Good luck!
Good Evening Traders! Well, here we are again, Gold trading just above the 1250 mark. Today was a solid day down, with Gold trading 16.7 points off the opening to close at 1253. We have come right to the top of this support area that was last seen on June 24, the day the British approved Brexit, and the day when Gold rallied 108 points in 1 day!. It's amazing...
Good Evening Traders! Well, after yesterday's explosive move down, it's not surprising that Gold took a pause today. With a total range of 15.3 points, the net down move today was 1.9 points. I did take a new short position early in the morning and I'll get to that later in this post. I'm expecting volatility to come back into the market tomorrow and Friday as...
Good Evening Traders! I've been calling for the bottom of the current cycle and last night I pointed out that there was major support below my current Gold short @ 1305. There was the upward trend line dating back from January, the channel bottom from July 1, and the bottom BB Band (2.0 Std Dev), all sitting right at 1305. This was also confirmed by a Stoch RSI...
FBR 0,328 showing already support in the past. In case 0,32 support will work again we can expect nice Risk/Reward. RSI also showing high probability of a turn.
quick entry on eurusd. Entry : 1.11759 Stop : 1.11662 Target 1 : 1.11941 Target 2 : move stop to entry price, exit at supply 1.12264
Along side my trend channels and range trading, I like to use this set up for some extra pips and when back tested works very well over most months (Will probably move to only this strategy when I can guarantee consolidation is not taking place) It cuts all emotions out of trading when I use it with the right money management. Everyone should know that moving...