Gold failed to push higher all because of a lack of momentum to the upside. So let's take a quick look at what the chart is telling us; monthly is bearish, weekly appears flat, daily is bearish. Also, a new structure formation shows that we have broken below the bottom trendline and currently we are retesting that trendline before continuing... *breathing**......
EURUSD now aiming towards 1.2160x resistance level with momentum waning. Past resistance becomes future support @ 1.20976 where EURUSD will likely bounce when it dips during London's session. And yes, we are long! 🙄 Happy Trading folks! Cheers!
On Friday, EURUSD was unable to make new highs to close the month and instead pulled back to 1.1976x level, a level where we identified a "Shaven Bottom" candlestick. Also, on Friday there are "Shaven Top" candlesticks near the highs where we expect price to move back up and possibly to make new highs. April was a bullish month for this pair. We're anticipating a...
This scenario is likely to play out at the start of next week. Who knows?! Prior resistance @ .7800 was taken out, meaning there's a possibility that we're heading towards 07840 which is our next resistance level. If it holds, it could mean a turning point for this pair. Happy Trading folks! Cheers!
Going long targeting 57029.xx intraday on Bitcoin. Momentum is somewhat flat on the 4hr chart as you can see with the moving averages, the MACD moving average. To see the ANGLE of these moving averages on the chart can really help with determining how far price can go if it were to pop... or drop. That's really how I look at momentum 😎 Happy Trading folks! 🎯💰 Cheers!
Where do we begin? first, let's talk momentum. Monthly - bullish Weekly - turning bullish Daily - bullish and increasing 4 Hr - so bullish well, it seems like Crude will be revisiting $64.20 (target). There may be some turbulence along the way with the daily downtrend line but.. it's likely going to break. 🙄 Happy Trading folks! Cheers!
After a false break above the trendline, still, I was anticipating a move lower and perhaps a retest of the bottom trendline for a short entry... that didn't happen and so, we missed out. However, as we inch closer to fill the Shaven Head Candle which is marked on the chart, that same level is also a strong support level - hence the long trade to.. as you might...
Today we had a bullish close on Gold, however,... based on the weekly chart momentum is slightly bearish. We're anticipating a strong move in either direction. So here's how we anticipate whether to go long or short. 📈Long: Price moves down to 1776.xx (marked on the chart) in the first few hours of the trading session. (setting a low of the day) 📉Short: Price...
Resistance @ 1805 level held pretty nicely, no candle close above it on the daily, even on the 4hr chart. This means if we don't see a retest of that resistance level, then this move lower would be an impulse move for a new low. However, if we get a move back up to 1805, then more than likely we would see Gold heading to the top of the bearish channel. 😎 Happy...
NZDUSD at Fibonacci Resistance level and Daily Pivot R2, combined with Harmonic Pattern and MACD Divergence on the 4Hr is enough confirmation for a short trade on this pair. A little drawing illustration of the 1.272 Fib ratio on the chart if you're using either the ABCD tool or the Fib Retracement. Happy Trading folks! Cheers!
There's a great chance that we would see higher prices on Crude Oil and for two reasons only... technically! 1. $63.90 level was taken out which opens up room to go higher. 2. Crude Oil... yes we just discovered this recently, it had broken above the Monthly Down Trendline awaiting a possible retest before a move higher. So yes, that's the bigger picture.. at...
Here's a quick look on Bitcoin daily chart. A couple things to note here: 1, BTC finds support at 100ema and Fibonacci (secret) level. 2, Rejection wick on the daily candle and RSI near oversold level. Who knows, this rally could retest the high and possibly make a new high, or a lower high and perhaps a continuation lower. P.S. Yes, this is my other...
It's a short trade on Gold once it breaks below our trendline. Although the weekly and daily chart is still bullish, a big move is bound to happen - either up or down! But I like it when it falls. Happy Trading folks! Cheers.
Aussie Dollar is still bullish on the daily and weekly chart, and depending on today's price action... if today we close near the top then this short trade will not be valid. However, if price pushes higher and fills the "Shaven Top" Candle - as marked on the chart - and then rejects that level.. then we'd short it all the way down. Happy Trading folks! Cheers!
These next 2-3 days will determine whether BITCOIN will... collapse, or continues higher. Momentum is close to flat on the weekly, and on the daily it is extremely bearish... hence our target @ 49k. As mentioned earlier, these next two to three days is key. Happy Trading folks! Cheers! :)
The Kiwi Dollar looks strong and it's quite bullish especially for this pair. Although we anticipate this pair to go higher, we'll just look to TP at the target.
A bounce off the 50EMA on the daily offers great support for this long trade to fill the Shaven Top Candle at first target... then the second higher target if all goes well. Happy Trading folks! Cheers!
Looking at the weekly chart, this pair has room to run southbound, but that depends on today's closing candle. If this pair takes out yesterday's low.. vroom!! vroom!! Happy Trading folks! Cheers!