I will try to monitor and post in comments section every day my view on gold. And call some trades for future if I see them. I will use for this just candlestick analysis and daily weekly monthly swing highs lows as well as some trend lines to prove for my self one more time how important those pivots are in trading no matter you long term trader medium term or...
There is a good confluence of 78.6 and 127 plus an ABCD completion. if the ratios keep up, then we have an awesome trade. though the risk displacement is a little higher. Should be 1:1 or 1:2 if 618 is hit/.
High probability with many confluences to the naked eye, 4 hour price action will bounce of the 38.2 FIB zone or the daily resistance if broken the 238 FIB and then continue the downtrend, creating a short opportunity.
Nice pattern with fib confluence on this pair. Retracing into previous support now should becoming resistance.
This Pattern could be the reason to enter a valid trend continuation short. FOLLOW YOUR PLAN!
Best luck in the markets, Felix.
cci and percent r upper range see our book on amazon why it is important-relative strength good-adx 38 good range number-money flow good-always diversify among high yields-stop loss 50day ma-strong group-weekly cloud around 50
stop loss at cloud-price volume trend good relative strength good-cci and percent r upper range-watch for 200 day above-always have stop losses in high yield candidate diversify between picks and industry
High risk reward ratio is always with higher risk but bring us high returns - it is all about patience. We're not here to take a part - we're here to take over. August we expect pair to reach area over 120.00. Be patient.
Outlined the process each trade should involve. Simple IF... Then process.
IF the market reaches my level of interest without violating the A point of the pattern Then i will buy.
Please thumbs up if you like this kind of analysis. Thanks!
It has been a while since I have posted anything to Trading View, apologies!
I spotted this setup over the weekend and it seems to be playing out how I would expect. The new highs printed last week at 0.6850 indicate that this pair may move higher, or at lest retest last weeks high price of 0.6860.
The red and green boxes show where I would be...
Very low active float due to high tute ownership (0.1% of 30,560,280 = 30,560)
High short interest - 21.6% (6,600,489 @ 13 days to cover)
TTM P/E of 9.17 vs. industry average of 21.04
7.98% dividend yield, ex-div 2/26/2016
No one on StockTwits cares about it... yet
I ENTERED BULLISH ON THE CAD TODAY AFTER THE PRICE CREATED IMPORTANT SUPPORT AROUND THE 1.3710 LEVEL, AFTER THE PRICE MOVED TO THE 1.3734 LEVEL AND DECIDED TO MAKE A NEW HIGH I DECIDED TO ENTER LONG, WITH THE PRICE MAKING A NEW HIGH AT 1.3755 I MOVED MY STOPS TO B.E. , BUT THE PRICE CAME BACK AND REACHED MY STOP LOSS FOR A SCRATCH AFTER COMING BACK TO THE...