-Continuation pattern to support uptrend. -Once it breaks out 21,032 level, it will swing up to 22,000 level. -Moving averages are still supporting current trend. -A wise old man once said, "the trend is your friend till it breaks"
OANDA:XAUUSD looks like it got rejected once again by the Wall of Trump resistance and needs one more pullback in my opinion 4H Timeframe View: It broke below the 20MA/50MA and looks like a hammer was formed which indicates a possible top formation Short: 1249.240 Stop: 1254 Target 1: 1234 The 200MA at the 4H Timeframe might provide decent support so I...
OANDA:XAUUSD has broken out of the downtrend after the 1260 rejection and with hourly timeframe moving averages confirming the trend change. Bulls are still in the game and it looks like it will have another try against the Wall of Trump resistance. No big positions as of yet as I expected a pullback that didn't materialize and it consolidated for 2 days...
My previous trade banking on a daily reversal failed so looks like FX_IDC:XAUUSD is on a last stand as the 50MA daily support(1210) needs to hold if bulls have any chance of turning the trend around. Its possible the downward momentum may continue till Non-Farm Payroll release on friday. Entry: 1225.45 SL: 1227.5 TP: 1210 Any feebacks are appreciated!
After breaking out of the bullish triangle, FX_IDC:XAUUSD shot up to the 1260 level. Its flight was halted because of the previous support turned resistance that was broken after the Trump Victory and not only that but 3 Moving averages from the Daily, Weekly and Monthly time frames. In my opinion FX_IDC:XAUUSD will have difficulties breaking this level so...
After it broke and consolidated above 113, FX_IDC:USDJPY is looking to be another good long. Let's see if it can challenge the previous high at 114.8. Entry: 113.251 SL: 113.2 (Changed to break-even 113.3) TP: (tp1)113.9 (tp2)114.45 (tp3)114.8 Any feedbacks are appreciated!
FX_IDC:XAUUSD formed a double top and failed to retake the 1240 level after. Lets see how low can it go in the meantime. Entry: 1236.36 SL: 1238 TP: (tp1)1229 (tp2)1222 (tp3)1216-1214 Any feedbacks are appreciated!
After breaking out of because of the "Trump Tax Plan" news, FX:USDJPY failed to follow up the bullish momentum and broke not just the 50ma but also the support level at 113.50. Short Entry: 113.494 SL: 113.6 TP: 113(possible the price will bounce off the 200ma)-112.470 Any feedbacks are appreciated