I can see here strong rejection after attempt to reach 1.0500 level. Monthly candles showing nice pattern for the third time( Bullish engulfing) and closed above support mentioned above. I see also two important formations : 1. GAP from daily chart(different broker) is respected almost perfectly with pin candle 2. Shadow of the candle reached Fibonacci level...
Coming off of long volume trapped from Friday, i'm expecting some nice bounces off the 50 EMA and 200 EMA, possibly 800EMA if price wants to make a push. Overall i'll be scouting short positions, waiting for London Open.
This is another pair that I have been watching for a while now. There are multiple confluences to suggest that the downside prevails for this pair. The 50EMA has crossed through the 200EMA, suggesting a longer term momentum shift, with the bears now in control. The price has tried, but failed, to make a number of rallies but each time has found resistance. We...
I have been monitoring this pair for a while, looking for ideal level to take a position long. The price saw a brief bullish rally last week, but found a cap at the 50EMA. The price rejected this level, looking to make a push back down into previous supply zones. I am targeting this pair to move back down to a previously used support level, before making a final...
From the daily chart of GBPUSD, I can see uncertainty on where the direction is about to go, as there are 2 potential setup for this pair : Long Scenario The reason why I said this is because EMA(100) has been breached for the past 7 candles. If price are able to break 1.2725 resistance line and move on, it may hit next resistance line 1.2870 which ultimately...
The price has broken out 1200 zone. Before getting Long, tiny pullback against 1200 is what I'm looking to confirm if 1200 will be the next support line. Ultimate target will be 1250, with partial profit will be at the previous resistance line 1220
Gold went up and exactly touched 1220$/oz (checked it on a one minute interval) as predicted in my previous plots (3 weeks ago) and now will move south: In short-term perspective price will rebounce at some levels (navy blue lines). Price already retraced back to it's Exponential Moving Average (red line), that is a natural move. Moreover, Buy or Sell Signal...
I have been expecting GOLD to be "in touch" with EMA(20) and EMA(40) and it is (or about to shortly) happening now. I can see there are 2 potential direction here : 1. If price can close below EMA(20), price will potentially be pushed down to 1170. Why 1170? Because apparently this is the latest most respected (red box) price level after 1127. Bear is gaining...
The EUR/USD seems to be in a bit of a pickle, there was a false breakout represented by the ABCD shape, but there seems to be a reason behind that as the Coppock curve shows that it provided past support for that decline, so I would ignore the false breakout. But, the currency pair has reached a crucial resistance point, this is also represented by the 100 EMA,...
From the daily chart, it looks like USD is slightly losing its grip against Ringgit, having some hard time breaking out 4.5 zone. Also indicated from movement index that uptrend slight losing its power. But this doesn't necessary mean a good news to Ringgit too. Although Ringgit is starting to get take control since 5th January, we can still see obvious rejection...
After 01/17 strong bear move, the possibility of h&s forming on EUR/GBP is now taking a solid shape. Should we break Daily 50 ema, next stop would be the neckline @ 0.83800, coinciding with Daily 200ema/Weekly 50ema. Bearish MACD divergence is just the icing on the cake. Of course as always let's respect price action and wait for a confirmation of the direction...
GOLD is currently trending high but ADX(40,40) indicates the trend is not that strong (index < 25) compare with the previous downtrend (index ranging between 25 and 28). TP1 at 1200 has been executed and I'm expecting the price to retest EMA(20) and EMA(40) before it is going towards next S&R (1250). For me, this will be the my TP2.
ADX above 30, price has retraced to the EMA 20, potential for spring back up!!!!!
price has penetrated ema20 2 days ago but has not sprung back. now is doing it again today. possible long buy?
adx below 30 uf price retrces to ema 20 i will consideer shorting and holding max 2 days
I really only publish charts so I can say "I told you so" to IamNomad later on. The general idea is that price quickly retraces 50% of the dump while consolidating on RSI = 50. Also, watch for cloud support to hold until the bearish TK cross (Red over Green). A daily candle close inside the cloud with a bearish TK cross would be a reliable signal the fractal has...
No surprise to see price stalling at the round number of 0.7000 Back into structure for a retest. If price holds this level it's time to look for entry reason to get short with target down at 0.6900