The price is moving in channel pattern. We can try to open position once the channel is broken. If the price broke the upper channel line, it will be most likely to test the resistance line in the area of 1430s. If the price broke the lower line, it will most likely test the support line. Trade Safely ! Have a good weekend.
Price made a double bottom and market noise pretend to break the support line. Price is trading above the support line after breaking and retesting the trend line. Going long for a bit as I expect the price to make sideways movement before fully complete the trend reversal. Trade Safely!
The shakedown of US and Iran crisis and threat of war clearly gave a damaging impact on US Dollar. Investors are worried about the state of world economy and started to accumulate precious metals to protect their wealth against devaluation of Dollar. With a lot of alarming issues happening all around the globe, the demands for precious metals will continue to...
Gold was trading in a bullish momentum for starting at the end of May until the mid of June. As we can see, the market is currently taking a break by making a ranging movement. In my personal opinion, the price is making a trend continuation pattern that seems to be a triangle. As for now, we can wait for the price to break the pattern with significant volume and...
For the past two months, we had seen GBPJPY on a strong downtrend moving from area of 148 to 135. Currently, the momentum is slowing down with a little bit of sideways movement. I am seeing a potential descending triangle chart pattern forming. I am waiting for the breakout of this pattern. As I wait, I will initiate a short term trade on this setup. Trade Safely!
We had seen a very bullish trend accompanied by high volatility in gold trading instruments. The price however, had done some downward pullback which i assume will be ending soon. We can see that the price make a sideway movement for a few hours in the yellow box and broke upward signaling the price is ready for another bull run.
During the end of last week’s trading session, we can see that this pair made a sideway movement signaling uncertainty in the direction of price. Since the support of the ranging market was penetrated, it shows the presence of selling pressure. Trade safely!
Telegram channel : t.me
Last week gbpjpy experiences a downtrend which was a retracement on H4 timeframe. It is possible for GBPJPY to continue its uptrend now. Due to this, I am going for long position. Drop a comment below, lets open a discussion. Trade safely!
My telegram channel : t.me
There are no sign of strong buying momentum yet, so I am going to short this pair the the marked zone. Why the zone is there? Market tend to try to close the gap they make before continuing going in the current trend which is downtrend.
My telegram channel : t.me
This is an important area that will determine the movement of this pair next week. If the support line hold and there is presence of buying momentum, we should take the long position. If the support line is broken and the selling pressure does not diminish, we should continue to take the short position. I personally think that instantly taking long position near...
Many support levels were broken this week due to the selling pressure. As long as we don’t see any buying pressure, we are better off to initiate a short position rather than long position. Trade safely !
Few hours ago I shorted GBPJPY at 146.450 and closed all my position a moment ago. I believe that GBPJPY is still on selling pressure, but I want to try shorting another position in the new zone that the price might reach if an upward pullback were to happen. I am targeting to hold this position until the area of 145.200 - 145.000 ( support area ). Trade safely!