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Proprietarytrading

CAD/JPY 4HR POSSIBLE BREAK OF 'BULLISH' FLAGWaiting for price to retrace to the 4hour, 50ema and gain momentum to break the channel so i can confirm a Long trade. I see price retracing to 50ema where there is also a 61.8fib level from a previous successful structure. 4hour channel + (potential candlestix) & Gr4d within. thumbs down: No 123 patterns in motion but weekly just closed on bullish 123 last week. no we have a new Gr4d which has not been touched unline the candlestix Gr4d before it which has been pierced but price has not closed over yet. Overall we are still bullish but i do not have my potential 123 in motion to confirm my trades.
Long
by UnknownUnicorn911750
Gold taking a breather or is it exhausted?After a significant and a rather hasty run-up in the last couple sessions, April gold has formed what we traders like to call a Bearish harami type of candle in the last trading session. This does not mean the price is going to tumble back down like a lead balloon, but it is an important signal for a possible reversal short term or a more extended one. The first target of this reversal could be around 1200-1190 area. If it does not close below that level this could be a sweet spot to go long, if it does close below that level then this rally is another bear market rally and should look to short it. Either, way train your eyes to see price action and then determine your directional entry. A great trading opportunity is coming next week in this market, especially if you feel like you missed this past move up.
COMEX:GCJ2016
by Bullionite