Gold is making higher highs and higher lows, while the RSI and MACD oscillators/histograms show lower lows and lower highs. This is a case of hidden divergence which is an indication of the trend continuing. People who are looking to short should consider this. I recommend traders to avoid shorting for now. For people who are longing, it should be good news....
NZDCAD fell from the channel it has been ranging in but pulled back from the MA200 line. The next move for NZDCAD depends on whether the MA200 line is strong enough to push the price back into the channel it has been ranging in. If not, NZDCAD will fall to the next support level. We should wait for NZDCAD to move either way before making a decision on opening a...
AUDUSD has just reached a resistance level that has been tested and rejected multiple times. We can expect the price to fall down and test support levels. If you zoom in on the daily chart, you can see that a double bottom pattern has formed which is a bullish pattern. However, if AUDUSD will continue the bullish trend, she will most likely need to come and test...
EURCAD has reached a resistance line that has been tested multiple times and rejected. We can expect the price to go test 1.55810 level then possibly go down and test 1.545 level.
GBPUSD has been moving up in a rising wedge channel for a significant amount of time now and has reached a level of strong resistance. A rising wedge in an upward trend indicates a potential reversal pattern. Currently, GBPUSD is at the bottom of that channel and unable to reach a higher high. This makes me inclined to think that a downward fall is coming soon. A...
Due to lack of resistance and support area in this range, the only destination for Gold right now as I see is to touch the strong support at 1790-1800 and that is where the buyers will start coming in. Furthermore, as you can see from the graph, 1816 had been rejected 3 times. A short position here to support level would be recommended by me. A safe TP would be...
Hello, in this post I will be talking about Forex Pair Correlations. A problem new traders frequently find themselves in is opening/having positions that are contradictory. I will elaborate on that but for now, let's understand first what correlation is. A correlation is a statistical relationship which means that when A moves a certain way, B will move a certain...
Hello, in this educational post I will be talking about why having 2 or 3 TP targets is good. As an example, I will be using one of the trades I have running currently on EURUSD. My initial target for this short position is to hit the lowest point of yesterday and it was going well until a pullback happened which is currently happening right now and probably...
DXY has reached 92 where it has tested multiple times and rejected before. Multiple pairs/symbols have reached or about to reach a major resistance line, therefore, a bounce from this level is highly likely. Please give a thumbs up if you agree with the idea and if there are any questions, feel free to comment down below.
Gold will rise after reaching this support area where the rally to 2000 began. In addition, the MA200 is also around this area at 1797 (red line on the graph), a buy position in this area will be rewarded with low risk. Furthermore, XAUUSD price has collapsed and has not given a significant pullback where buyers come in, this is the area where I think buyers will...
EURUSD has reached a resistance line that has been tested multiple times and rejected. A short position here is low-risk due to the only upcoming major resistance is 1.2 and EURUSD has been rallying up in the upward channel for some time now. If EURUSD successfully breaks this resistance line, then I will be looking out to short at the 1.2 level. My...
In my previous post, I said a short position is possible at the 1st resistance line shown in the graph. Now that it broke that line, we can look to short the next resistance line which I highly doubt that it will break. Nevertheless, If the price does not reach that line, I will be looking for an entry to short. If you wonder where my old posts are, it is hidden...
NZDUSD approached a big resistance level where it was tested several times back in December 2018! A short position here is a low-risk that can yield high rewards. If you wonder where my old posts are, it is hidden due to my misunderstanding the house rules. Please give a thumbs up if you agree with the idea and if there are any questions, feel free to comment down below.
AUDCAD just hit a resistance line where we can take a short-term sell opportunity. Although the 4H chart created a double bottom pattern, we could catch a pullback which is a bullish pattern, we could catch a pullback. I don't normally use and trust indicator much but MACD is a well-performed indicator and has shown a short entry in the 1H timeframe. Please give...