MohannadYakout

MohannadYakout

Hello everyone, Based on a basic price action analysis of the gold price as of today, March 14th, I anticipate a decline from the current level to the next support level located between $2,135 and $2,156 per ounce. Position your stops above the previous lower high. Good Luck.

MohannadYakout Updated 

After retracing from the shown resistance levels. EURUSD stopped and started showing bullish price action from 38.20% Fibonacci and is expected to start edging higher. Targets as shown on the chart

MohannadYakout

This today's US30 quick setup. The index has been consolidating inside a tight range, but I expect it to edge higher from its present level of 33,200 and retest the resistance of the prior high around 33,380 just before the release of the minutes from the most recent FOMC meeting. Trade safe!

MohannadYakout Updated 

With profits of 200pips from yesterday's short to $1910, we're now long. Prices at around 1910 dollars seem like a great place to end the current correction and begin a new upward move, for the following reasons: 1) The June 2021 broken resistance high should now serve as a strong support level. 2) A 50% Fibonacci retracement of the 15th December rally is...

MohannadYakout Updated 

Price action around 1867.64, which represents 38.20% Fibo from the decline that began on April 18th, is bearish. Price formed a descending triangle and broke below levels of support 1840, indicating that the decline will continue. However, due to weak momentum on shorter timeframes, we may see a pullback to test 1840 as resistance levels (where we could short)...

MohannadYakout

Price action on US30 on a daily timeframe shows the index trades inside a descending price channel and is expected to continue trading within. The technical bias is to go short on the DowJones from levels of resistance 33450 (in case bearish price action takes place) or the following resistance 34000 points which coincides with the upper limit of the price channel

MohannadYakout

I see the weekend is here. A new week is about to begin, and it's time to get organised, reflect on your progress so far, and learn something new to help you achieve your trading goals., and boost your profitability. Let's be honest, I am someone who normally likes to follow the trends. A lot of the trend following indicators I've encountered along the way in my...

MohannadYakout Updated 

US crude oil's short-term price ranges from support levels 94 dollars to resistance levels 99 dollars, with an equilibrium price around 96.40 dollars. I expect a continuation of the sideways trend, and I will wait for bearish price action from around 99 dollars to short back to equilibrium 96.40 and then 94 dollars, with stops above the resistance areas. I wish...

MohannadYakout Updated 

Absent a clear escalation in Russian-Ukrainian tensions and a FOMC meeting scheduled for this Wednesday, the outlook remains cautious. The dollar index is stable. At 99.30 points, we can see the bearish price action forming around the previous high, and the 30 minutes timeframe shows that DXY has broken below the previous low support and formed a new lower low,...

MohannadYakout Updated 

Supported by the news that Russia and Ukraine have held their fourth round of talks. Markets are taking a breather to retrace some of the risk-off movements that took place last week. After breaking below the key support level of 1950 dollars, gold has been gaining more bearish momentum. When looking for the next support and resistance levels, focus on the...

MohannadYakout

On the medium-term, AUDNZD showed strong rejection of the upper limit of the downward price channel and resistance levels at 1.0800. It's reasonable to expect a decline to the next support levels of 1.05447 and 1.03132 if we keep our trading below the important resistance level of 1.0800, above which we should place our stops.

MohannadYakout

Dollar started this week's trading on a softer tone following an indecisive yet more dovish than expected FED meeting last week. It all depends now on the PMI numbers this week, which is expected to come out as positive. However, any lower than expected numbers should be bearish on the Dollar as this should confirm doubts of slower recovery and economic growth...

MohannadYakout Updated 

USDJPY clearly failed to hold its trading above levels of the upward trendline and broke below along with breaking below the 200EMA on the 4hours timeframe. We might have an upward correction during the day, however my technical bias is bearish but I will be waiting for a break below the key support 109.70

MohannadYakout Updated 

We can clearly see on the chart that bitcoin has been struggling to find any direction for quite sometime now. Oscillating between the highs at around 40k and the lows around 31k. The fact that we have 2 roughly equal highs and 2 roughly equal lows (highlighted in circles) confirms that we are now in a trading range just around the equilibrium price roughly at...

MohannadYakout Updated 

NZDJPY currently trades around critical levels on the daily timeframe as it represents key support levels 75.55 and EMA200 in addition to the primary uptrend extending since March of last year The pair should be on my watchlist during the next week and I will be waiting for a confirmed breakout below 75.55 to extend more losses to the downside and target levels of 71.70

MohannadYakout Updated 

On the 4Hours timeframe, dollar index reached my target for yesterday around 92.85 points and clearly rejected the upper limit of the rising wedge pattern formed. My technical bias for the dollar index during today is bearish from current levels to target the previous point around levels of 92.40 and - if cleared - will next target levels of the lower limit of...

MohannadYakout Updated 

Supported by a strong Swiss Frank, USDCHF pair broke below the lower limit of the rising channel and is now forming a lower low, after forming a lower high which initiates a new downtrend. My technical bias is bearish on the pair to target the next support level at around 0.9142. SELL THE HIGHS

MohannadYakout Updated 

On the short term, GBPJPY pair is trying to retest the breakout level from the upward price channel along with the support level broken at 152.50 which should now act as a resistance My technical bias will be bearish on the pair from the levels of resistance 152.50 along with the broken trendline and levels of 38.20% fibo retracement to resume the downtrend and...