Kautilya

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Gold prices have formed a Descending triangle - a pattern with bearish bias. Prices have very much respected the sloped line from where it has moved downwards and horizontal line from where they have bounced. so assuming - if the textbook pattern is successful then here is what I think it could do... If price breaks the horizontal support line, we could see...

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Characteristics in favor of trade: 1. Triangle breakout. 2. Higher High, Higher lows. 3. Bounce from previous Fibonnaci levels - Rectangle box - 1, 2,3 are .38, .50 & .786 respectively. Rectangle 4 is 1 so, we should see some retracement to this level and then a move up. 4. Good Risk Reward. Consideration: 1. Price may not retrace from a to 4 and just go...

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Favorable to Short Term trend: AUDUSD has constantly for past few session rejected .76639 levels.. so assuming if downward trend continues from partial rise.. A Pennant formation - breakout confirmation from here (another long red candle below pennant) should give us a measured move to .75553. Red dotted lines are Resistance level. Green lines are support...

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Price seems to be in consolidation phase - so breaking out from either side will give good run.

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Entry to be @ .89408 Stop Loss @ .89087 TP1 - .91145 TP2 - .91863 But again.. I had been wrong in past when it comes to NZD pairs.. so will be careful.

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We should see price fluctuating between two red lines and then eventual to the upside of 132..

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EURNZD - this seems to be wave 3 impulsive .. so we will see correction between red lines and more room to the upside the two dotted yellow lines.

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Just entered.. Long position for some quick pips.. red dotted lines target..

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Just placed limit short order for AUDNZD - not filled yet.

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Pattern testing.. havent traded yet, but found that such pattern has worked in recent past. please be careful while trading it.

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BTCUSD - becoming volatile. Hope it fluctuates between the purple lines and don't fall to the extreme red. The BLUE lines will serve as Support and resistance level if downward spiral continues. From my previous posting, I was expecting it to bounce from 158 level which it did.. and now again, over a period of time, it will give us a good shorting opportunities.

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For last 15 days.. USDJPY is correctly following the pattern here.. I think, it will come to 115 before bouncing to 122 and then slide to 105 - may be. bold projection .. I guess.

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Looks like ABC flat correction is in progress. A is Made up 3 waves, B is made up of 3 waves and C is progressing its 5 waves move.

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Depends on Geo Political, OPEC, Fracking, Shale, tar and all various means together. 60 may act as resistance level and if downward spiral continues which is - oil may reach those dotted lines.. and in extreme case below 40.. Time will tell.

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Also couple of inside bars.... so for short term should go up 1.26 in insight.

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GBPJPY may form a falling three pattern provided the current bar doesn't close above the big red bar on the left hand side... and next 8 hr bar is red.. then there is potential that GBPJPY will go to 185 and 183 respectively.

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Any upswing should be an opportunity to sell - till it crosses 490 Level.

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A minor upswing to 1.10614 and then down to 1.04. Bearish Wedge Formation.