Looking at all these confirmations plus all the MACD divergence. Once price respects 1.623, I'll be selling.
I have an overall bearish outlook on the DXY. Based on technical analysis, I see the Double top reversal pattern, MACD divergence and the overall formation of the downtrend. There's a lot of news this week, regarding to the US Dollar.
Price is at a resistance zone and we do have a potential double top reversal pattern forming, however because of the strong buying momentum since May, I would wait for some 4H and 1H divergence.
Price has been on an uptrend since January 2019 giving us a series of Higher Highs and Higher Lows, shown clearly on the Daily TimeFrame. Price has also been rejecting to push higher than 98.00 since April 2019. I have highlighted the MACD divergence seen on the Daily and 4HR indicating the possibility of a bearish run. Moving to the 1HR, price is sitting on the...
Looking at this move for the upcoming trade week. Nice Head & Shoulders Pattern, once the downtrend line is respected as resistance, I'll be looking to go short on Gold.
Will Gold finally break this level or retest as support and bounce off to shoot higher? Definitely keeping my eyes on how price would react to this zone. This is on the Daily timeframe, price broke this zone at the beginning of the year and has retested as support, refusing to break below so far for 2019.
Downtrending channel formation can be seen here. Once price shows good strong support off the lower trend-line, I'll be looking the go long. Other confirmations needed: 1. 1HR MACD divergence 2. Reversal price pattern 3. Strong candle close above (price must not break the trend-line).
Been looking at this downtrend, once price hits that trendline, I'm selling as long as price respects the trendline. If you are part of my free telegram channel, you would have seen that I have been anticipating the sell at 112 area (black arrow pointing down). However, we had a 39 pip draw down in which small accounts may have been stopped out (fakeout). As you...
If price continues the respect on this trendline, I'll be looking for buys. However, I would be waiting to see signs that price is ready to turn around like MACD divergence or reversal patterns.
Price has been respecting this trend-line. If price doesn't break through, we can look for the buy.
Looking at this uptrend, we can see clearly the higher highs and higher lows being made. I would like to see price drop to that entry zone (between pink lines) and make a higher high.
Currently at resistance level. However, it could still go up to test the bigger move. Either way, let's wait for more confirmations to sell.
Looking for the retest of this trendline and I'd like to see price drop. We also have a double top reversal pattern
My prediction on the dollar index is that we will see price retest previous channel support before strengthening to see a higher high being made.
Here we see a weak downtrend, a series of LH and LL, i would like to see price make a LH by touching the upper trendline and then dropping to the lower trendline.
This has been a great trade for me and I am tremendously proud that it had no drawdown whatsoever. I looked at the up trending channel, and I entered at a low. The spread on this pair with my broker is also low so that was a great advantage to me. I will definitely be trading this pair more.
Currently looking to go long on this pair. Price is in a down-trending channel, I want to see it retrace to the .5 fib level.
Here I am seeing clear signs of an uptrend on the Daily, 4hr and 1hr. We can see price retested resistance on price level 1315.58 multiple times, weakening the level. And it respects the trend-line nicely. I would like to see price fall to the 1311 area, that also lines up with .618 fib level and as you can see also a strong support, therefore making it a key...