The dollar has seen some upward momentum after a long bearish period. It might be premature but I see a possible uptrend from here on. Let me know what you think!
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PS: I know many people have already entered their longs!
From what I'm "Speculating" I can see gold entering a correction phase soon after a huge push to the upside!
Keep in mind that bears might be able to take advantage of this situation and completely reverse the trend to our major support level!
REMEMBER! At any one of the plotted support levels, bulls can potentially re-enter the market!
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We have price currently trading within a consolidation triangle. If we get a break above our key level we could be continuing a strong up trend! We are currently in an uptrend but our key level is our deciding factor on whether to enter or not!
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We are currently at consolidation and I'm leaning towards an upward bias! WHY?
1. We had a break of a downtrend.
2. We had an impulse to the upside.
3. We retraced and started to form a consolidation period.
4. We had a huge entry of buy pressure at support of our consolidation zone!
I will be waiting on a break and retest of our current resistance and I will be...
We've been in a strong uptrend and are on the verge of breaking out of another small consolidation period! I expect us to continue towards previous highs after the completion of a break and retest of our current resistance!
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What do you think we should expect? Let...
We have a completion of a H&S pattern and received a pin bar confirmation! Are we going short? Let me know in the comments!
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We had a break after our inverted H&S and retested our broken level as support! Are we going up?
What do you think? Let me know in the comments!
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We have a clear break of our support along with a retest of the level. We should wait on some bullish confirmation to confirm out move to the upside! What do you expect?
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We've completed our break of our downtrend and we've cleared previous resistance. We should wait on some confirmation to the upside after the retest at our new support level!
What do you think we should be expecting? Please share your thoughts in the comment section!
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As we can see from the 4H chart, we have broken a downtrend line and are on the verge of breaking our first area of resistance. It is important for us to wait for the close above our current resistance area, a retest and the some bullish confirmation to the upside!
We might see the pair revisit support and continue upwards to previous highs so be on the lookout...
Gold has been stuck in a range between 1670.00 and 1745.00 for quiet some time now, on one occasion we saw gold break the 1745.00 resistance just to crash back down again.
I think its safe to say we see clear buy pressure enter the market and form an uptrend channel. However, although price seems to be taking on bullish characteristics, we still have that...
Why are we feeling bullish?
1. Clear uptrend.
2. We are at the phase of a break out to the upside after a long consolidation period within the uptrend channel.
However, we still have to wait on a few more confirmations like the retest of the new support level and a bounce from the level.
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We have to chart patterns we could consider in this trade and both weigh heavily on the bearish side of things:
1. We see what could appear to be a bearish H&S.
2. We have a downtrend channel.
3. Price seems to be breaking support.
For now we should wait for the completion of the move before we can make any final judgments. I will be waiting on a completion of...
I've taken on a bullish bias on EUR/GBP because of a decent uptrend channel. Due to price usually spiking after a long period of accumulation, we might receive a very lucrative reward for keeping an eye out!
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We are looking at a consolidating market and although we were able to trade within the range, when are we breaking out? Further more, how far? Keep an eye out.
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From what we see The market has been forming a bearish H&S. However, it is evident that we have a strong and respected support so where will we go from here?
Please leave a like and comment below on what the most likely outcome will be!