Gold rose higher today after shaking off a selling spree after the NFP numbers were released. Prices fell right to the 6 day moving average before buyers stepped in and gold prices rallied. Prices continued to move higher right up to the closing bell and the action stopped @ 1221.6. Let's see what happens next week but if price can finally break through the 1221...
Gold pushed up past the 1220 resistance level for the 3rd time since the start of the year, only to be met with strong resistance and falling back under 1220 to be within the range from 1182 - 1220. While I am still long, the upper wick on today's candle is not the most encouraging for the bulls. On the bullish side, price is still above the 6, 8 and 21 day...
Factors suggesting gold possible resumption of downtrend 1. Price/Momentum hidden divergence 2. Recent daily candle piercing 14 MAV, with suggestion of a close beneath this soon. Trade is on chart.
Gold with a continued buy ( ideally closer to 1200 for entry), in which we are trading a potential BC leg. The target is just below the .618 retracement @1250. The point of invalidation would be 1176 ( beneath the 14 MAV) . The trade would be closed short of target if the HA closes beneath a crossed 8/14 MAV. Risk Reward is 2:1.
Entry for a long when price closes above the short term moving averages. The point of invalidation is a close beneath the recent swing low @ 1122. Target is a prior support level (Feb,March,June 2016 , & Fib 50 level) . Risk Reward is 3 to 1. If price is beneath target , and closes below the short term moving averages , the trade is closed.
After testing the lower bound of this descending triangle, AUDNZD appears to have made a jump lower. A pending sell order is set at 1.038 to catch this bearish breakout. This price point was selected in consideration for the 1.04 psychological support level. However, this is still a bit of a risky entry as the lower indicators are showing oversold values. Recent...
The price for EURGBP has retraced to the 50% level of the upward move starting late May. This could set up to be a great risk reward opportunity. With the rejection of this key Fibonacci level and a trend line break for this retrace, I will wait one more day before making an entry decision. The criteria for a buy entry here will be as follows: Today's heiken...
The overall down trend appears to be holding for GBPCAD. Furthermore, the beginnings of a possible bullish bat pattern are taking shape. However, the current BC retracement is a little short at this point. Nevertheless, the pattern appears to be in proportion and a sell setup is likely before the end of the week or early next week.
Potential reversal --- clear break of the 112.50 in the next 4-8 hours would warrant a short into 110.30 area, further into 109-110 (TP1, TP2). Could see consolidation or further drive down based on the velocity of the move up, but that should be saved for another analysis (TP3). Shallow stops (around early 113s) as current trend ignores many oversold indicators...
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AUDUSD possible consolidation .74 - .77 in a double top or 3 drives ( as illustrated). If Point C of potential Gartley can hold ( .7760) , we would be looking for a short setup close to the supply zone. The short trade would follow the entry and exit rules for trend following with HA candle , listed by Dale _ Ansel . Stop Loss @ .7840 above X. Potential...
A quick setup for AUDUSD on 1 Hour Heikin Ashi Chart... What Nawab says? (Our Contributor) AUD fell 1% low after central bank meeting move an open door for a move in August, though Australia is still recovering from major drop in commodity prices, and additionally the employment rate in Australia is stabilize... We are searching for contributors who can...
Glaz's great slow-move HA with a couple of tweaks and an EMA7 applied. Works exactly llike the EMA6 strategy by Shiva Krishnan but with clear reversal arrows. For folks new to trading, I'd strongly suggest you only trade with trend - catching reversals can be tricky: so many people get killed doing this. Additionally, the 'trade fear, not greed' principle is...
Simple harami and doji indicator adapted from Repo32 Candlestick Identifier - a great piece of work and awesome respect to the originator. This script only shows harami and doji for use with Heiken Ashi in above/below comparison to traditional candlestick chart. It leaves a clean chart without too many distractions so you can concentrate on price action. A...
Should use the lower time frames to get precision on entries and exits.
MACD crossover, Heiken Ashi candle is bearish, going short.
MACD divergence. Price coming off of resistance. Heiken Ashi candles bearish. Just waiting for MACD across.