Reasons for open position:
- Sell zone 15M
- Strong downtrend movement
S/L 9166 and above
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AU remained neutral ahead of RBA decision - closing below .6935 resistance -- A retrace to .69650 could be in the picture before cut talk; My view remains to short and should remain bearish under .70000 price point. AiG Manufacturing news out soon will help set the tone heading into the week...
Support Levels: .68950, .68650, .68250
Resistance Levels: .69350,...
Who would dare buy the USD and sell the yen.
Monthly trend is down but price is at a large monthly DZ, not an area to be going short.
Price is also at weekly demand
then price gave evidence of over-extension with 3 continuation patterns in a row followed by the break of the MoM Trendline, leaving behind, a Demand zone
I would dare to buy the USD up to...
Looking at the H4 chart we see rejection at the same mark as a previous H4 swing high, resting just above this level is a major Daily zone of which we have also tapped and shot out of. I will now be looking for reason to enter short positions into this trade!
EURCAD doesn't seem like it, but its been consolidating for a really long time. So this meltdown was bound to happen since it still respected an overall bearish trend. But here has been no major retracement and the RSI even on the weekly is screaming it's overdue. So here are the TPS:
This set of TPs will start from the 3rd...
Gold set to pullback to buy zone between $1302 - $1308. Within the buy zone, the market would have completed the teacup handle which is a good indicator for a buy.
After the slight consolidation around the buy zone. Bulls will take Gold creating new higher highs.
FULL BREAKDOWN VIDEO OF THIS ANALYSIS IS ON MY FREE TELEGRAM CHANNEL @FreedomTraders1
Reasons for open position:
- sell zone is 267-271
- we have downward channel and border of it coincide with sell zone
Stop above 271
Take profit 1/2 (257.1) and higher, depends on your greed
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UDSJPY to continue to fall to 107.800. Possibly touch my trend line, thereafter strong confirmation for a Bullish movement. Bullish movement may start from the near zone but very unlikely.
Black trend line: Monthly
Blue trend line: Weekly
Orange trend line: Daily
Comment bellow what you think! :)
We seem to be in an accumulation phase on our way to 10k and still in an ascending triangle. I would say a breakout towards 10k+ or maybe be even right at the 10k is more likely than drop downwards. Next resistance after 10k is at 11k8. If we drop we might find support at 8k5 and 7k4. Watch for breakouts!
We have done an analysis for the week for bearish Gold
We have arrived at the first TP 1274 and expected a pullback to hit the next zone.
Let's wait for price to give us more confirmation.
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