DrBear

DrBear

Hi team, This week my analysis on CHFJPY got stopped out. A big part of trading is being able to understand where we have gone wrong, and adapt to the market. I have re-worked my analysis of CHFJPY. Zooming out to the weekly time-frame, the wave analysis actually becomes very simple. We are currently in the final (bullish) wave of this ascending channel...

DrBear

Hi team, So far my Gold analysis has been on point over 80% of the time. Chart analysis: On the longer weekly time frame, we are back at the bottom of a large consolidating channel, the support of which has not been broken for almost 18 months. We are almost at the end of a descending correcting channel descending to this major support, the 5th wave of...

DrBear Updated 

Hi team I had a few issues with my laptop - sorry for late posting! I will be doing a full analysis soon. Gold is following swing direction (see linked post). I think we have a scalp here! Speed is of the essence, so details later. Like what I do? Why not follow and like my ideas! DrBear

DrBear Updated 

Hi team See my linked post for a more detailed analysis on this pair. WE are in a lovely holding channel now, and I expect price to drop to local support AT LEAST. More money - for you - for free. You're welcome! Good luck, Trade safe DrBear

DrBear Updated 

Hi Team I have hit at least TP1 on EVERY SINGLE POST for the last three weeks. Nod bad, eh!? This one is simple. We got a quick grab on gold earlier this week, and now we see a minor retracement. Gold moves VERY fast on news events, so my advice is to be in and out quickly with this one! Keep a look out for daily posts (I am on call night shifts this week ...

DrBear Updated 

HI team, This is more straightforward chart analysis from your favourite Doc. The GBP is at its lowest point against the dollar since 1985 - and we seen no immediate reprisal. Expect changes once we get a new PM and subsequent statements - but with GS estimate for UK inflation to a possible 22%, poor management of at source energy provision and general wage...

DrBear Updated 

Hi team, Another very quick and simple scalp. My last two trades on this pair have yielded TP. Looking to see if we break current lowest low for new short position at local support level. The pound has been driven down against the dollar almost all year, and I would expect to see a bullish rejection soon - in the mean time, let's see if we can squeeze a...

DrBear Updated 

Hi team, See detailed EURUSD analysis (linked post) for news relating to GOLD/USD this week. We will see something similar here. We are hedging on the local support at 1710, and I will sell if we break lower - something I expect we will do in an hours time! TP levels relate to daily time-frame descending channel. We will hold a slightly higher SL than usual,...

DrBear

Hi Team This one is straightforward chart analysis. We are expecting JPY strength. We may well see GBP weakness in news events on Wednesday. We are reaching the contraction of a bearish wedge/triangle on the 4H timeframe. We have now seen structure rejection. Look for follow through and catch this simple sell! Clear invalidation above local resistance....

DrBear

HI Team My last trade on this pair - yet again - hit our TP level as expected, and if you were holding it would have made even greater profits! Fundamentals: As EU countries rally successfully to mitigate rising wholesale energy costs, their economic manufacturing output looks to be in a better position than most, making a rally for EU more likely. Despite...

DrBear Updated 

HI Team, See linked post for in depth GOLD analysis this week, which covers all USD news. Look out for news later today at 1300 GMT. Currently in a daily Elliot ABC ascending correction, and looking for breakdown soon. Safest sell is within the ascending channel, but worth looking for a breakdown of that with at least one position. I expect a small 30M...

DrBear

Hi team, Last week we got stopped out on our scalp for this pair. Looking at the bigger picture, we have a very strong daily resistance we have now rejected, and I am not expecting price to breach it. Look for further bearish pressure to local support levels indicated. Want more information? Leave a comment letting me know what helps, and I will aim to...

DrBear

Hi Team GOLD is doing as expected currently, and my last post (see linked) has now hit TP1. As we ride this down to local support levels, we are respecting the 1H EMA. We didn't get the correction last week but am expecting it this week, so once that marked EMA is broken, we can look to ride the short term correction up. More on that later in the week....

DrBear

Hi Team, Technicals: Good 1H rejection wick from daily descending channel resistance, with lovely 4H wick. Pair is obeying these outlines very clearly at present. Fundamentals: CHF being a "safe haven currency" means that we can expect weakness soon, given USD drive this week. There is a temporary hold because of JPY YOY interest rate decision that is...

DrBear

Hi Team, Please see linked post to see my big GOLD trade set up - it is running beautifully and is just a few pips from TP. If you missed out, we have a lovely scalp opportunity just now. Prices is descending, respecting 1H EMA and giving us clear price invalidation. Look for rejection from EMA and ride the sell down to at least our initial TP (1:10 ratio)...

DrBear Updated 

Hi Team This is stage one for this weeks gold trade. See linked post below - we rose as expected on todays news, and rejected as expected from the descending weekly resistance. Now if the time to enter out first sell attempt. I would advise SLBE as soon as possible, and if price slows down at ascending channel support, suggest closing half positions out....

DrBear Updated 

Hi Team, Last week my analysis for Gold was on point - we saw a big breakdown after the much higher than anticipated Aug Non-Farm Payroll result. This week I am expecting a retracement. We saw rejection of the daily ascending resistance (see chart) and will, I expect, move up to our original sell zone. I do not expect a break above the weekly descending channel...

DrBear Updated 

Hi Team This is a short and sweet technical chart analysis. We are in a short consolidation phase (likely due to low market volume) at the end of an ABC correction for this pair, sitting just below regional pyschological resistance. I expect a drop at least to the 1H ascending correction support, if not further. This is a straightforward trade - clear...