The pair is moving in a large ascending wedge, looking to short on break of formation with Fib levels as potential targets.
Short term it is hitting supply area @0.712, so possible to initiate first short positions there. GL!
Seems like bearish flag in the making. Possible to enter shorts now, with SL above recent high, more conservative bears may enter on breakdown of formation. Measured move target is in lower 35s, however I will possibly sell only 1/2 half of my short position there and trail the rest. GL
Contrary to prevailing sentiment, I see USDMXN moving higher short-term. Price action forming bullish flag on shorter TFs confirms this scenario. However, due to volume gaps below, I will be taking profits early. GL!
Gold currently at an important point, opportunity for both bulls/bears depending on the break of rectangle. I am leaning more towards bullish scenario, due to long consolidation at recent highs. Also RSI broke an important level, which suggests more upside. GL to all!
Divergence formed on higher TFs, strong rejection off-recent lows (lower wick in red oval), for possible targets looking at 145 and 155 areas.
The strategy is to buy the pullback and that's where we currently are. GL to all!
Currently it seems that gold is poised to move higher, but is currently moving in a rising wedge. We haven't seen much of a pullback lately. My hypotehsis is that we will move to ~1460, where I will be looking for a short with pullback all the way to 1360-1380 area.
Seems that oil is currently moving in broadening wedge - I expect some resistance at 58 and at 59, which would offer shorting opportunities with good RR. I still expect oil to test the bottom of the triangle (yellow rectangle).
As we see now, oil price is moving in a symmetrical triangle, currently, we are expecting test of 52-53 level. The big trade will come after breakout or breakdown of the triangle, until then it's only short term play. Will update the idea later on. Currently holding short with mentioned target 52-53.