As outlined in the previous posts at the beginning of the week we outlined price would drop then continue it bullish momentum up to our psychological target 1.2000. We have a bullish harmonic pattern with oversold on the stochastic. Waiting for the bullish candlestick confirmation. Safe stops would be below "X" and our first upside target being 1.12800-1.13000....
Analysing the weekly and daily time frame we have price hovering and being rejected at key level (61.8% Retracement) However looking at the daily time frame we have divergence and oversold on the RSI. Key Confluence for downside target of 1.157500: - 200 EMA acting as magnetic support - Key structure level - Key retracement level. If price breaks below the...
Price on the weekly and monthly chart demonstrate price being at a key level (61.8%) retracement. That being said as seen on the daily time frame we have divergence with oversold on the RSI. On the opening of the market (for those day traders) price can reach 1.6000 then we may begin to see bearish PA. Our first downside target is in confluence with key structure,...
Have a bearish Crab formation with bearish candlesticks on the weekly time frame at key resistance. Our first downside target is 137.000. Once this target is met our next target would be 134.850 then 133.400. However, once each target is met PA confirmation is required to hold onto the positions. We have lower highs which represent bearish momentum. For day...
Can expect a retracement up to 100.350-100.500 on the opening of the market then a continuation to the downside to targets of 99.900, 99.400 then 98.750. Once each target has been hit PA must be analysed before keeping positions. However, on the opening of the market price can also continue to the downside without an retracement. We must wait for the opening...
Our first target being 2080.0, we then can expect a retracement to the trend line then a continuation to our second target of 2070.0. However, careful once target 1 has been met. If price breaks above the trend line then our targets are no longer valid.
GBPUSD our psychological target is 1.6000 within this year. However our weekly outlook is to 1.5300-1.5450. If price breaks above 1.52850 then we are looking to enter at 1.52900 to our first target of 1.5300 then to 1.5400 with a stop loss of 1.52650. (HOWEVER PLEASE CHECK CANDLESTICK FORMATIONS ONCE EACH TARGET HAS BEEN MET). If price breaks below 1.52535...
Conducting Top down Analysis, we also have several scenarios on GBPUSD. The Daily time frame demonstrates the bears have lost momentum. Price has been trading in a descending channel. I believer price would reach 1.5400 at least before it continues its downside momentum; however there are also signs of a potential 1.5500. If price breaks above 1.53400 then there...
I believe price would reach 1220.0-1245.0 then looking to go short to levels 1145.0 then 1050.0. However, we would be seeking PA conformation around the levels stated. If price breaks above the weekly trend line price level 1280.0 then we would be looking to go long.
The brilliant thing about good news in stock trading is that it opens up opportunities for both bulls and bears. Bulls want to jump in on the hype (along with the herd) hoping that some other bulls jump in right after they do so that they make money. They expect to buy and hold because the company is seen to be in good shape. Bears, on the other hand, look for...
Bearish Trend could continue if we see positive NFP results for the USD, If the respected level is broken we could see a major crash in the price of Gold.
Hi guys, USD/CAD is the pair that is on my watching list for this week and is very interesting. The level that I am watching is 1.1917 which can a trend line from 07/2013. Also lets keep in mind that the H&S has already hit target and looks like we are in 5 waves up in this pair. Time for correction or reversal? I don't know, but thing is for sure, if he gets...
Dear Traders, Last week have been very profitable for traders who where long about Gold. We've started the week with a big selling pressure after a long week-end where people were doubting about gold overvalue. This strong sell has broken all stop loss tickets. Now that this storm pasted we are able to see more clearly what is going on'on Gold. We are actually...