FalkenFx

FalkenFx Updated 

Looking to go long on EJ. The pair has been in a decent uptrend since the beginning of October, I am expecting this to continue till around mid November. Price of interest for a long is 163.412. Confluences: - Key Level -38% Fibonacci - Cluster of EMA's (Daily 50, 100 & 200) SL is 1.5 times the size of the zone of interest so 45 pips Targeting a higher high...

FalkenFx

Round 2 for an oil short Looking to short once oil has closed the gap it made on Sunday. For now oil is in a short term downtrend, if this gap is closed and broken past to the upside then we can expect a more bullish oil in the near future. For now looking at a trendline bounce trade idea. Entry- on the 61.8% Fibo at 70.4 Sl- 65 pips TP- Targeting the 38% of...

FalkenFx Updated 

Looking to short Oil. After the large gap from weekend news regarding the strikes on Iran being more about retaliation than targeting the manufacturing supplies there is some downside potential for Oil. Currently trading below the gap, I am looking to trade Oil lower before buying it back up. Buy's right now do not make sense for the strategy. Confluences for...

FalkenFx

Looking at Silver there are two good opportunities that may come into play with a good RR potential. First lets address the narrative... Gold both XAUUSD & XAUEUR are driving to the upside for new highs to be made prior to the elections, after which the narrative will need to be re-assessed. The COT data from last week shows 13,266 long positions were added...

FalkenFx

Gold did not break lower today and surpass the 2709 level. Indicating to us the downside for now is over, unfortunately my last long move I tried to trade did not work out as planned, as is trading though right, you win some and lose some. So, the market has clearly taken some advantage of this confusion of possibly break lower etc to its advantage and exposing...

FalkenFx

Looking to go long on Platinum/XPTUSD. The metal market is now declining on some profit taking as all have done extremely well in the last month in percentage gain. With fundamentals aligning cross the metal markets, pre election period, inflation dropping etc. Metals are still bullish, until the narrative has changed officially. This would most likely change if...

FalkenFx Updated 

Gold long from current spot price 2735.24 Price has stabilized nicely now, after pushing up from the round number (but not quite 2709). Closed the day off with a nice bullish candle pattern amongst timeframes, H6, H4 & Daily. Now that buyers are back with some volume there is the possibility to go higher. The fundamentals have not changed for gold. Should see...

FalkenFx Updated 

Haven't posted in a while but I am back to it now, with more consistency coming. Looking to go long on gold. The long remains valid with the current fibo set-up however if it pushes slightly higher then makes its way back I will adjust accordingly. Original idea was to go long off the round number 2700-2705 area but she slightly missed and made a solid drive off...

FalkenFx

Looking to short GBPJPY. GJ has has pushed up nicely so far this week but I think there is more downside to come before a massive push up occurs in GJ. With FOMC today and the Fed interest rate decision, this is a neutral asset to trade during the turbulence hence why I am posting this idea. Confluences: 50% Fibo Trendline 3rd touch Intra Key Level Entry-...

FalkenFx Updated 

Looking to short GBPJPY from 189.050. Currently GJ is making some downward momentum to the lows created after XXXjpy pairs across the board crashed. Looking to join the movement down. GJ has broken the level 188 which was the support for the small uptrend movement created after the crash. This gives me some confidence of continued downward movement. There is some...

FalkenFx Updated 

Looking to buy Oil off the low created in December 2023. On the Elliot wave, this is currently the 5th and final wave to the downside according to the theory. With rate cuts on the horizon and political instability there is a good probability for Oil to begin a new upswing. Technical Confluences: Key Level -38% Fibo extension level (take profit zone) Elliot...

FalkenFx Updated 

Looking to Long Gold. Gold has had some nice volume the past couple of days pushing the metal to the upside. Looking to take the long around the round number confluence area and ride it to new highs, if the NFP data that comes out is weak. The only way this trade is valid is if NFP comes off weaker, if the news is good news, the trade is invalid. Reasoning: Bad...

FalkenFx

Looking to long gold on an impulse correction pattern. Currently trading all time highs and consolidating (gathering liquidity), gold is highly likely to keep moving up at this point in time for a number of geopolitical tension reasons and rate cuts just around the corner. Currently the COT non-commercial data is showing gold longs in institutions are at extreme...

FalkenFx

Currently long on Gold for a filler trade up to the 61.8% fibo level. To get long now wait for 50% of the current H4 candle and this entry will suffice. Onto the matter of the short. As you can see on gold there is a trippple top liquidation, usually meaning the market is now not ready to move higher.... Buy the rumor and sell the news is what has transpired...

FalkenFx Updated 

Looking to short gold near all time highs. Gold may drift up more in the coming weeks, if so, I plan to short the market may the opportunity present itself to us. For this short I will need some confirmation from COT data confirming firms are indeed increasing their short positions and exiting long positions, however bear in mind gold is still being short more...

FalkenFx

Looking to short gold. Gold has been respecting tech levels well recently, with the CPI data MOM being inline with consensus and YOY declining by 0.1, I am expecting gold to surge a bit more. Last level of tech available for a short is a fresh high of 2500. Entry- 2498 SL- 65 pips TP- 130 pips Confluences: - Ascending trendline 4th touch - 2500 psychological...

FalkenFx Updated 

Currently looking to short gold around 2440, sometime early this week. The market is currently range bound with a clouded fundamental picture as we await the Fed's decision as to whether or not they will be cutting rates this September. Gold has priced in some of this fundamental event by its recent upswings, but by how much is still in question. Confluences:...

FalkenFx

Looking to short GBPJPY. So it is no secret that Japan hiked their interest rates, but also due to global economic fears the Yen safe haven was bought up by firms across the board causing this massive surge in the Yen. This move re-assures the Yen's place as a safehaven for investors. BOE also recently cut their rate, fueling the surge down in GJ. Now based on...