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Gold - (Almost) Post Election AnalysisWith Election proceedings still in process amidst legal challenges to a plethora of voting irregularities, i thought it would be fitting to check in with my personal favorite 'safe haven' asset. As you can see price has been steadily trending higher on the weekly timeframe, experiencing a few instances of profit-taking along the way (which i believe we experienced since the tremendous move in August). the MACD is signaling that a potential bullish momentum shift may very well be taking place, i.e. a bullish overall trend that may well be signaling a trend continuation = very good. The overall trend is very nice, with clear separation of the moving averages and relatively minor pullbacks along the way. This however is what has my attention most at the moment in gold, the presence of a tentative weekly squeeze, i have highlighted the moves that occurred after the last 2 weekly squeezes that fired. Whilst this squeeze is still forming (there may very well be a little more sideways movement for a few more candles), this lends itself quite strongly to the bullish side of things for the near-term/ mid-term for gold. On the daily we can see where that resistance (cause for sideways chop) may very well be coming from, as we are currently sitting just below the 50% fib retracement from the prior swing high. The highlighted doji candle also indicates some possible indecision, that being said i do expect that gold will push onwards to the 61.8% fib retracement with minimal effort, at which point a little bit of hesitation would not surprise me, this may very well allow the weekly squeeze i mentioned to develop. In any case i will be eagerly watching to see how the next few weeks shape up for gold, should gold decisively clear the 61.8% level, there is very little resistance between there and prior highs, perhaps a little at around $2040/ ounce. A fib extension gives a possible idea of price targets, as well as potential resistance levels for the coming weeks. -TradingEdge
COMEX:GC1!Long
by Long_Game_Trading
GBPCHF 60 PIP SELL GBPCHF showing great potential for a 60 pip drop . Currently gbpchf is in the process of forming a pennant , due to the strong bearish momentum beforehand in around September i believe that the market is consolidating to ease the market down before further reaching new lower lows. Alongside this we can also see a bearish trend forming within the pennant which further leads me to believe in the downside momentum. The 0.50 fib level is clearly acting as a very strong resistance level in this example as well as price recently coming under the 200 EMA . The trade had been placed within the pennant but I will also look for further entries when we see a clear breakout to the downside. Take profit has been set at around 60 pips and SL at around 35 pips !
Short
by tradingonthego
AUDUSD pending long order...Weak dollar strength, HH. HL Still wait if continuous uptrend market will take our pending orders. Do your own analysis ... Dont Forget Moving Stop-loss At Break-even Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. You must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
by tyleralee
Fibonacci Retrace EducationI've had a few of you guys asking me about how I determine my corrective/reversal points per fib, and since I had a great trader teach me the ropes on how fib moves, I thought I would do the same. Follow each colored arrow to its respective fib. These are typical fib patterns to see on retraces. The same happens in bear markets. Also, you will need to apply these rules to the respective range. None of this is guaranteed to happen also. Studying fib will quickly teach you that there's fibs within fibs, so that's why you really have to measure each level and measure all ranges. This becomes easier through time and as you apply it to your trading. Best practice is to just study retraces. Fib IMO works best with an oscillator of choice, and an advanced level of understanding volume within price action. Lastly, understand -- not even fib is perfect and I did not list every typical scenario that fib retraces show. These are most of them though. If you understand the power of the 618 and the 382 (618 inverse), then you're well on your way. *not an indication to buy or sell* *use at your own risk* Educational Purposes Only. Goodluck.
OANDA:XAUUSDEducation
by UnknownUnicorn1269892
13300k Incoming ? BTC/USD $BTC #Bitcoin #btc #cryptoBitcoin surged last night above 11800 and right now is 11950 - just under 12k . Surely 12200 will come soon. But more importantly we are now inside the 'blue' band of that pink and blue regression band . We had been in the lower pink part of that band for awhile but last night we broke up into the blue part of this 'regession channel '. That's bullish imo . That should mean we head up to the top of the blue area of the band . That should bring us to 13300 area and possibly higher ! I myself called for 14 k Btc by Halloween , see my idea linked below . Also the 13350 area is a .618 fib on the chart ( running your fibs from 2019 low of 3150 up to 20k . ) That's an important fib and almost certainly we are going there now . That red star on my chart should be the next level up we hit . Patience definitely brings good things to those who can wait !
BITSTAMP:BTCUSD
by shimmeringpath
2
EURJPY - Fib levels I don't use the typical multi TF levels. I choose a bunch of TF that I am more comfortable with. (Thus the 2h chart) I have market everything on the chart for you. I prefer to keep the chart as clean as possible. And Personally, I am not a big fan of candlesticks. Whether on the chart or off the chart. Focus more on your risk management and psychology, cause the technical part is the easiest part. It is the Risk and the psychology that absolutely murder the retail traders. Not the technical. Happy trading and stay safe. :)
Long
by Sepz2020
AUDUSD - 4H Short TermWe have just broken a resistance zone on the daily and lower timeframes, we should expect a retest before we reject / break the previous lower high (black box). Some high impact news out for this pair Thursday, not too familiar with this pair but should the news coincide with the PA over the beginning of the week ahead, I would expect this sort of move to come through. Sells within the black zone above seem ideal though I would wait for confirmation of another lower high to continue the move downwards.
by jakedubbz
$JMIA (Start of wave 1 after zigzag countertrend) PT $16Tony's Picks I have recently started analyzing charts and have come across this interesting idea. This chart is on the 4hr time frame. It looks like $JMIA is about to enter wave 1 after a 5-3-5 zig zag countertrend according to the Elliot wave theory. This idea assumes everything prior to this trend was just an IPO countertrend. Wave 2 two bounces off the .618 from wave 1 fib retracement perfectly. On the weekly chart it could be argued that we are still in one large wave 1 on macro level. I could see a $16 price target being realistic based off this chart. Expect volatility as $JMIA still has a lot to prove. Curious to thoughts and comments. Thank you.
NYSE:JMIALong
by TonyPicks
2
AUDJPY Short PositionI have entered a short position on AUFJPY for the following reasons: 4 hour fib retracement to the 78.6% area, which has previously been a good area of resistance There is the formation of a double top at this 78.6% area, enphasising the potential for a downward push A glance at the 4H linear regression shows that price is currently above the mean and also shows a downward bias My take profit has been set at the 0% fib level, which has been a strong area of support. This trade gives a solid risk/reward ratio of 4.26.
Short
by UnknownUnicorn8106969