The distribution has ended and the price has broken the re-accumulation area. We may get a redistribution and the price will fall to the accumulation area
OANDA:GBPUSD
Hello traders,
This is my Gbpusd trade idea. Just as i predicted last week that GU will likely buy this week in lower time frames, now it seems GU is ready to start this week bullish run, hence this setup.
Reasons Behind The Setup:
Daily structure is bullish
Price retrace to discount price levels on daily
Retest old high on daily.
...
You've all noticed that I use RTM patterns extensively in my daily trades. Here is another example of QM.
As always we have a perfect setup which was confirmed by breaking the last high with a good momentum candle. Upon retracing back to the QML, market bounces off and goes all the way back to hidden FTR. Should there be enough buyers price could continue...
XAUUSD retested $1920 demand earlier today and currently experiencing a bullish move towards $1930 which is a short time resistance. Following that, the previous weekly high near $1934 may prod the XAUUSD bulls before directing them to $1950 supply zone. The support can be found at $1918 followed by $1900. FOMC minutes and Fed Powell tonight will influence next...
XAUUSD remains vulnerable around intraday low of near $1960 as it drops for the second consecutive day while reversing Friday’s corrective bounce to $1980. The immediate resistance near $1965 suggests further downside of the gold price. A strong break below $1950 major support opens a path to March swing low of $1935. The resistance close to $1977 can challenge...
On CAD/JPY, there is a great long opportunity. I have identified a demand zone in which the price has made a spike, effectively validating the zone in question. Following my strategy, I will open a long trade targeting the level 100 with a risk-reward ratio of 1:4.
Let me know what you think in the comments.
Have a nice trading week!
Hello my friend. I see that we in the "abc" correction and "c" wave move to complete . The 5th wave of "c" be formed and move to downtrend to create .I expected sell/short position at 0.1163
Gold price consolidates recent gains after crossing the key resistances near $1800. The US Dollar rebound would allow Gold to have a pullback. The market awaits the key US Nonfarm Payrolls (NFP) during early Friday. If $1796 support broken another key level is the previous month’s top near $1787. Failure to keep above would open the door to $1750. The previous...
XAUUSD broke to the upside after the CPI news release and currently trading at $1740. Next important area to test is $1750 supply zone, which if broken, would open the path to $1780 - $1800. We expect Gold to test $1744 -$1750 zone and drop from there. The expected pullback should be $1730 - $1720. Please support our work with like and comment, thank you.
Hello Friends. I published the analysis of this currency by Elliot wave for "c" leg of the (b) wave and we know that it formed of 5 waves and I expecting it's end at 0.13550 and start to complete correction waves by (c) wave it's end at 0.02380. Please Like and Share my idea. Thanks you.
