So GBPJPY looks to be at the bottom of are channel, all signs look to be pointing towards the next impule leg. Remember trading is always a risk and never trade more than you are able to lose , and always learn to see the chart from your own perspective...
Hello Traders✨
I’ve done a breakdown on how I caught 200pips on GOLD!!!
Just like how a pilot cannot takeoff without completing the checklist procedure✅
As traders I believe we cannot just place a trade without completing our own trading checklist.✅
Trading is a business, and like any other business we want to enter deals that are in our favor ($$$)
Before...
EUR/USD upside remains active. The pair looks to the end day around its 21 DMA (1.2180) but nonetheless nearer to the top its tighter 1.2146-90 range. Looking ahead, tomorrow’s German ZEW survey will likely gain focus in early hours whilst BoE’s Chief Economist Haldane is ready to make an appearance close to the US cash open. Relatively flat intraday around the...
Part 1
Gold was trending up nicely for a while!
Then, it decided to drop; and it dropped over 500 pips in just over a day. Why?
I couldn't understand why it wasn't drying to continue to climb for several reasons.
1. It was in an uptrend.
2. It broke and closed above the 1900 level several times.
Here's what I missed:
1. The uptrend was broken and retested as...
The Pound derived strength at the expense of its US counterpart, albeit with extra impetus from strong oil prices, Nationwide hpi and hawkish rhetoric via BoE’s Ramsden in the Guardian, though Cable came up against a barrier around 1.4250 and lost grip of the 1.4200 handle even before a downgrade to the final manufacturing PMI. From here we are looking for a short...
Sorry its been a min guys but were back at the grind, I have a bullish bias on GBPJPY for tonight.. all signs are looking for a continuation in the up trend that we are seeing , hoping for atleast a 40 pip move to the up side ... always do your own analysis and remember that trading is risky ...
. Don't forget about stop-loss.
Write in the comments all your questions and instruments analysis of which you want to see.
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a tradenzd
Part 2
Gold was trading in a channel!
i only just saw this. The drop in Gold of 500 pips last week was from three things:
1. Triple Top/Head and shoulders
2. Break of trend line
3. To touch the bottom of the channel.
Gold has been in a channel trending up since the massive double bottom from May. The trend and channel are still valid because Gold was able to...
The wedge is my favourite setup to trade: WHY?
- Sniper entry (Low risk:reward ratios!)
- High probability setup.
- Indicates market is preparing for big move to up or downside.
Important to practice patience with this setup. A lot of fake breakouts can occur. Recommend waiting for the break and RETEST CONFIRMATION! On a higher time frame.
Overall bias is to the...
The Pound maybe feeling the weight of another downturn in Brent and WTI, as Cable seems reluctant or just unable to extract much from the broad Buck wane within a 1.4141-01 range and Sterling is also losing out to the Euro in cross terms with EUR/GBP forming a firmer base on the 0.8600 handle. Overall further upside can be expected with eyes on the 1.4250 level...
One has to imagine that gold will find its way back to its 200 day before marching on higher given the fundamental tailwinds.
If gold trades down to 1800 and we get a nice close above it - I would believe this to be a compelling opportunity to get long or add length if you took a more aggressive entry prior to the breakout.
A change in market sentiment with...
Prior chart:
The Yen has held comfortably above 133.00 after recently hitting its target. Euro looking weaker with expected drop in Q1 GDP. Further upside will be expected from this level.
Both looking susceptible to steeper depreciation vs their US rival, with the Euro only just recovering from a stop-chase through the 18 DMA (1.2060) in time to avoid more sell orders sitting at or beneath 1.2050.
Nevertheless, EUR/USD also faces heavy and layered option expiry interest from the round number above to 1.2150, including 1.3 bn at 1.2100, 1 bn from...
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Prior chart:
The dollar appears to be getting a second wind after big beats in US headline and core US inflation, even allowing for base effects that implied an upside bias to market expectations, but initial gains were swiftly erased and...
Prior Chart:
The Pound unwinds some of its all round appreciation, though keeps its head above water amidst robust UK consumption surveys and confirmation from PM Johnson that the 3rd phase of lifting lockdown restrictions will go ahead next Monday.
Elsewhere, the GBP/JPY has reached our upside target of 154.00 with...
