Oil got support around Fibo 0.618 at 51.60 and harshly push up yesterday, however, if oil desire to break pattern of neckline 54.52 it should not downward below 53.60 which will be the strongest scenario.
In another aspect, if oil can't stand above 53.60 this Euro mkt, then may face discontinuous K chart for...
Oil seems lack of momentum to push up and struggle around mid-cycle 0.618 level which is 51.60.
However, the presence of Monday has give us a hint to oil's future, once if 51.60 can't hold again oil may face plunge to $50 level.
Therefore, we should short oil directly with small SL to earn double or more profits....
Gold fulfill 0.618 retracement and hold on
1333 price which is relative support level in Monday market.
As consequence, we can anticipate gold may challenge 1350 level or to reach new high, moreover, 1347~1350 will be the obstacle that gold need to break through.
Consider long around at 1343 when Euro market...
As last week ideas mentioned, gold may counter downward pressures around 1284 due to cyclical factors, if once gold can't stand on 1280 the another plunge will come.
However, gold lack of momentum on Monday by struggle around 1285 then pull back this earlier, so its obviously in consolidation mode. Without break...
Gold faced resistance around 1284 in Euro trading zone, thus 1284 is obviously a level that pressure exist.
Overview my previous idea about gold, gold may maintain above 1277 this week and recharge the energy for next downtrend if it does.
Therefore, the nearest resistance level is 1284 and 1288, so we can spot...
Oil downward to 57.30 and pullback to $58 after breakdown the trendline, however, the hardest downward the fastest will be end.
So, we should care about the correction will happened in last trading day, even though the probability of bounce exist we should short oil for first try.
Consider short oil around at 58.92...
Gold may struggle between 1272- 1278 today and recharge energy to push forward next trend.
As I mentioned in previous idea, gold just fulfill third downward and its about time to restructure the pattern for next downtrend, moreover, it better for gold to correct above 1277 for getting more short positions.
Short gold for catching third plunge with targeting below 1268, as we can see gold got small consolidation between 1279~1273 and construct the energy to move forward when interval be break.
In another observe, gold lack the third downward to fulfill basic downtrend pattern, thus we can anticipate gold will drop to...
GBPUSD reveal pretty weak situation relative to other currencies, however, it is experienced 6 trading days with downward pressure whether if it can continue the trend will be a critical point to consider.
Moreover, the reliable support level is around 1.2670, so GBPUSD may probably breakdown 1.27 level to find the...
Pound still weak even though got bounce around 1.2710 but still can't reverse downward pressure.
Therefore, we should continue considering short position around the resistance area, which is around 1.2770 and target 1.2730 at least.
If pound get little correction but not above 1.2790 in US market, then GBPUSD may...
Oil bounced toward 63.68 level after OPEC signals continue to production cut, thus oil uptrend will proceed.
However, we did long position last week and may maintain the position for more profits. Depend on oil daily chart, oil challenge $64 is about to happened.
Consider long at 63.30 for target 64.00 if u didn't...
Gold still stay in good condition and waiting rising signal to up above 1300 level.
Maintain long position strategy and target 1306 first when gold conquer the 1300. Consider long right now if u didn't have position right now and SL will be 1294.
Support: 1294 / 1292
Resistance: 1300 / 1306
It's about time to soar?
Oil reconfirmed bottom in Wednesday and reveal long side is more possible than short, moreover, $63 is the key level oil need to breakout when uptrend is really in charge for following days.
By catching the opportunity of new rising, we should consider long oil at 62.20 and maintain the...
Today may be a day of correction for gold to recharge momentum to soar up after Tuesday.
However, its clearly in uptrend period, so consider a good price to long gold will better than catch short opportunity for retrace. Therefore, I construct two strategies for today's trading, the most important time that gold...
Oil had experience consolidation period for several days, as we can see oil had been struggle around $63 and fail to conquer high.
Moreover, oil passed 7 trading days already just as equal as the horizon made by downtrend, thus it high probability that oil will come out new trend or another downtrend.
Pound seems constructing downward flag pattern and it is almost in the last stage, therefore consider short GBPUSD around at 1.3019 and target the low 1.2967 and more.
If GBPUSD can breakdown the support area around 1.30 level then the downward pattern will appear and may cause another plunge in following...
Oil failed to challenge resistance above $62 yesterday, thus it may need one more correction during next 2 trading days this week.
However, the triple bottom still exist so we need to consider a nice place to do long when another correction may happened.
Therefore, I suggest do long position at reversal horizon...
Gold just breakout the resistance of downward trend line, its seem it may have chance to challenge 1294 level in US market.
Although it is a good sign to gold in Euro market, but one thing need to be assure is that gold should maintain the position above 1285 before US market open.
Therefore, consider long gold...