Potential Short entry at the break of the current Low, and sl above the previous major high with 12 Pips, I would be going Breakeven and taking partials at 1-1 (12-Pips), Final target would be 24 Pips
Silver tends to move in a very specific way. It moves very fast for a few days, only to act very calm in the next several days. Silver already lost its downward momentum as its been calm for a few days now. This characteristic pattern is what we saw also when Silver completed a broad top (just as it did recently) earlier this year.
What does it all come to?
For...
- The $11000 zone continues to be a area of resistance while $9300 is providing support.
- Last week's breakout was short lived but the trade is still relevant unless price breaks thru and closes above $11000.
Trend is to the up side on the 4HR chart
FX:GBPCHF
- TRADE IDEA: Enter long on the break and close above 1.218 (hourly) of the flat top triangle.
- SL: 1.2140
- TP: Trailing but aiming for 1.2280
- MANAGE YOUR RISK -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
XAUUSD is approaching our first resistance at 1233.86 (horizontal swing high resistance, 61.8% Fibonacci extension, 78.6% Fibonacci retracement) where a strong drop might occur pushing price down to our major support at 1219.38 (horizontal swing low support, 38.2% Fibonacci retracement).
Stochastics (89,5,3) is also approaching resistance and we might see a...
CADJPY is approaching our first resistance at 87.42 (horizontal swing high resistance, 61.8% Fibonacci extension, 50% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 86.47 (horizontal pullback support, 50% Fibonacci retracement).
Stochastic (55,5,3) is also approaching resistance and we might see a...
USDCAD is approaching our first resistance at 1.3074 (horizontal swing high resistance, 76.4% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 1.2934 (horizontal swing low support, 50% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in...
GBPUSD is approaching our first support at 1.3063 (horizontal overlap support, 50% Fibonacci retracement, 100%, 61.8% Fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 1.3208 (horizontal swing high resistance, 100% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (89,5,3) is also...
