Dtrace93

Dtrace93

Short currency pair

Dtrace93

First time implementing the Fibonacci retracement. With the currency light on volume at its highest peak to date and the possibility of it being overbought, we are looking to short the currency pair. From what I've read on technical analysis and specifically volume and open interest is that short sellers and long buyers play a vital role. For example, in a...

Dtrace93 Updated 

Once again! Gold has corrected to the 1700-1690 range. The correction is due to the ADP employment change in the US coming in at 2.76m rather than the forecasted 9m. However Gold was in need of a correction as it was overbought once again. Looking back at previous trend similar to this downward channel, we should see Gold bounce or breach the lower trend line and...

Dtrace93 Updated 

Please do not use this publication as advice. I am new to this and using what I've learnt to analyse charts such as this. From what I've read this looks like a basic inverse head and shoulders formation. We would be looking for the trend to correct to 131Y but not to penetrate the neckline (blue line). If it penetrates the neckline we'd looking at a down trend. If...

Dtrace93 Updated 

A possible flagpole and pennant formation. Look to buy at the peak of the upper trend line. TP around 1.20.

Dtrace93

Currency pair is currently in a descending triangle formation which is bearish. Previous trend was bullish but the pair have ranged and begun a downtrend formation. Look to short at the support level 107.898. Target price is the resistance level at 107.129.

Dtrace93

The inverse head and shoulders formation has formed as predicted last week. Looking at the previous trends it should correct to 131. look to buy when at that price. Price target 135 range which would break the resistance level. With economic data coming out this week including manufacturing PMI today, this could affect the trend if the news is negative.

Dtrace93

I'm a hold on gold until the next correction at 1719. There is currently no real demand for gold so I could range. For the next big move up to 1780-90 we need a news catalyst such as interest rates going negative or US-China tensions escalating. I could be wrong and gold could continue its climb to 1780-90 but for now I'm holding until a further correction.

Dtrace93 Updated 

Currently gold is in a correction. Support level at 1703 and resistance at 1734. Looking at previous trends in gold and back testing, gold could end the correction and look to the upside if the price can stay within 1700 range. If gold drops below 1700 we could see a sell off of long positions and drop back to 1690-80. If there is heavier volume buying and the...

Dtrace93

Currency is currently breaching the trend lines. However the volume of selling is light compared to previous buying volume. Lighter volume of selling is usually a sign for bullish market. Keep an eye on the stop. If breached then I will hold on trading the currency. If we see a bounce back I'll look to buy. This could be completely wrong. Any advice please feel...

Dtrace93

Basic uptrend formation. read info on chart.

Dtrace93

Long position TP 150

Dtrace93

Please read info on chart.

Dtrace93

Practicing with trend lines, support/resistance. Learning as I go along. If you have any advice on the strategy please comment. Feedback would be great.