the retail sentiment is about 75% on shorts so you already know what the market wants to do. if you use the fib for the long postions you can see it bounced off the 50% area this week and is heading up. It has already passed it 100% mark which also makes me think it wants to long. On top of that its using the EMA's as supports rather than resistances.
looks like everyone is thinking as far as retail sentiment goes that AUDUSD wants to short which makes me believe it will go higher. As far as technical analysis goes EMA shows that its starting to use the 20/50/100 as supports, which supports the idea that it wants to go long. trade at your own risk and happy trading.
Their are a lot of shorts being places right now so it wouldn’t surprise me to see it go long. On top of that if it were to go to the TP1 area it would have broken through the base of the H&S that basically started forming around 2020 you can view the H&S on the daily candle chart. With that being said DXY also looks like it wants to dip down so that will also...
On the daily you can see last week we tested the base of an H&S that we have created for the past year or so and it rejected. So I feel next week we should expect the movement to be like this. I feel we will retest a support zone on the hourly/4H and reject higher up to the .382 on the fib basically the top of the downtrend I believe is forming. That will further...
I’m zoomed on the four hour looking for areas to sell. If you zoom out to the daily you will be able to see that we had created a H&S for a while and retested the base. As of right now I feel as if their will be a big drop every week making this month bearish. Here on the 4h you can see that I feel that it will retest to the .382 area and begin to go into a big...
I posted the same idea but it was zoomed way out and you couldnt really see so this is what im looking at on the 4hour as far as where i will be looking to add shorts and SL/TP areas.
I was not able to screen record but if you zoom out to the daily timeframe you can see a huge H&S pattern was created. we broke below the neckline and retested. However we were not able to break the level and this level on a smaller time frames about 1 hour the resistance area was reached but never broken. If you look at the chart with an 20/50 EMA on the 4 hour...
As of right now I'm bearish with gold their is a bullish bat harmonic that shows it wants to come down to 1600-1650 area before going into a bullish movement. However their is always the possibility that it will come up to the top of the trendline before making downwards moves. IMO it doesn't make sense since this huge trendline only gets touched after a while of...
If you look on the chart you can see that this kind of pattern has been shown before, My theory is that its going to fake a breakout at the resistance near the top of the downwards trend line. This will cripple buy limits and take out tight Sl for shorts and proceed to break down, With this in mind i feel it will bounce back and forth down the trendline until it...
