* Price is above 200EMA and above both 14&21EMA, and are acting as support.
* RSI is above 55, indicating good buyer strength.
* RSI has broken the downward trend line and is retesting that trend line.
To be a good and comprehensive trader, its always a good practice to check correlations of other forex pairs and indices so as to...
Previously, buyers have been trying to push this pair higher and above 200EMA, but we can see major sellers stepping in after price has reached the 200EMA (as highlighted from the green circle).
Last week, we saw a significant push from buyers once again and breaking thru the 200EMA and now price is consolidating between a major and minor S/R zones....
We can see that GBPUSD has formed a double top and price has broken the neckline of the M formation, now price has retested the neckline so I will only be looking for short trades targeting next S/R zones as illustrated in the chart.
Previously, I took a short trade when price retraced back to the 0.618 level (also my favourite retracement level),...
The overall trend for Gold is up which has been confirmed by price holding nicely above 200EMA, also my Elliot Wave Analysis suggests that there is still one more leg up before a massive correction during summer time, so there is still room for further upside.
Gold has broken out of the wedge pattern last week with good bull strength, and now it has...
This pair is currently in a range bound market, has been rejected from the top S/R zone and is on its way to the next S/R zone. I'm expecting a slight retracement to 1.09150 as price has overextended to the downside from the EMA14&21, after that, I'm entering short targeting the next major S/R zone once I see either a BACA of the 200EMA and/or...
This pair is in an overall downtrend, so my bias is favouring sells than buys. I'm looking for a break of the yellow trend line (Conservative Entry) and/or a retest of the orange RSI trendline (Aggressive Entry) to enter a sell towards the projected TPs.
* This pair has break the short-term support now resistance zone, and its...