We continue to have sideways movement between well established lines of support and resistance. The line of support has been tested 8 times.
However, movement downward is running out of steam as evident by the last dip that was unable to reach our support line. So it's no surprise the price is now flirting with a breakthrough of our line of resistance. If this...
Institutions are loading up orders because the average daily volume remains steady (200,000 lots) and the price's range tightens.
BUY after a breakout @ 1.34050
Stop Loss @1.33550
Take Profit @1.35320
This commodity is featuring for the first time on our TradingView blogs.
Current setup: Gold is currently held in a long period of consolidation but above both the 50 & 200 simple moving averages.
Conclusion: We need to wait out this consolidation period and take opportunities once we get a breakout. The pending breakout may be large in size due to the length...
Market was producing an uptrend, however, market has been failing to break resistance (Wick rejection)
There is also visible exhaustion on the bullish momentum and more bears are entering the market
Entering into the market can be at turquoise line based on the wick rejection at the bottom
Wait for a break and retest of area before entering the market
In my previous analysis on gold, the price indeed has rebounded off from the demand zone around 1292 and climbed highest to 1297.
However, the rebound was too weak and shallow which may cause the price to pull back and retest the low once again.
The price has been consolidating upwards, forming a short-term rising channel which seems to be completed soon.
- Pair broke out of zone of the downside
- Currently testing support as resistance
- Pair was recently overbought on both RSI and Stochastic Oscillator on 4-hr chart
For a safer trade may want to wait until pair tests EMA (25, close) or a strong bearish candlestick closes
GBPJPY revision after the fantom news
Could trade it within the range of consolidation but I'm looking for the breakout and retest on either side of the consolidation. At the moment, price action implies this will move to the downside but, we all know anything could happen. No TPs and entries at the moment but I'll likely revamp this later with an updated version.
Price is in a sideways consolidation
Macd is over-bought so I have a Bearish Trade Bias
Watch Macd for confirmation of Bearish direction
Watch for Bearish breakout of 800 sma
Sell Stop @ 143.95
Sell Take Profit @ 143.35
AUDJPY has been hovering between the 77.7 and the 78.7 zone.
Must the same as most AUD pairs, we have been in a long term down trend, but price action has started showing reversal signs. Upon breaking through the consolidation zone and (if up) the 200 EMA, we have a nice healthy area for a long position.
No trade yet - watch for movement out of the consolidation zone
I beleive that the bearish momentum has now been exhausted, and a bullish reversal is likely because the macro level analysis of STRAT BTC shows a clear parabolic, bullish move, followed by a consolidation trend, down to the 0.0002 satoshi level. The 0.0002 satoshi level would be my ideal entry point, however on the smaller time resolutions there are also some...
We can see the impulse move to the downside on the left of the chart, indicated by the first pink arrow. Then there was a consolidation structure formation which completed 5 waves and broke to the downside. This indicates that we are in the second impulse move, indicated by the second pink arrow on the right. Based on the initial impulse length, we can expect a...