Gold was rejected from an area of previous resistance. A short position is in order due to a confirmation candle going down. Lots of USD news this week will push gold down to next support.
Price made contact with a resistance trendline. Waiting for further bearish movement to sell.
Price made a triple bottom at the bottom of a downtrending market. The resistance of this formation was broken, so I go long.
I don't think there is a name for this kind of pattern, but here it is. My prediction is that price will range between these 2 areas for another 3 - 4 years. So essentially look for a short from the current price down to the mid 70s, then back up to the mid 80s, repeat that again, and then a drop to the mid to high 50s.
Price overbought and reversing. Close before USD news tomorrow Indicator says to sell, as shown by red dot.
Price is at overbought levels, and is at a resistance trendline. Most importantly, indicator says to sell, as it shows bearish momentum gaining.
This indicator made me 10% on my testing demo account on the last batch of trades. Bullish momentum gaining as evident by the chart, price in support area.
Price oversold during uptrend Of course, indicator says to buy. I don't set a stop loss or profit, but this is for proof. I manually close trade.
Bullish momentum intact from previous trading cycle I don't set stop losses or targets, I manually close trades at end of day.
Price threw down some lower wicks on the 1h below the pink support trendline, but bounced up, which indicated bearish exhaustion, and the strong green bull candle confirms bull strength. Confluence with my CADJPY long position as there is a high positive correlation between these 2 pairs. Buying to area of previous resistance.
Pretty simple setup Price hit the support trendline that you can see above, and formed a 4h bullish confirmation candle in the direction of the trade I wish to take.
Even after strong USD news this Friday, the US Dollar got really weak. New support trendline, seems valid and reliable enough. Price will head to previous recent highs of 102.20 This also seems like an ascending triangle formation.
EURGBP broke a support trendline on the 1h/4h chart. However, price did not continue to fall downwards and is instead retesting the trendline. I want to go to sleep now, so I'm setting this order to sell at a price at which I can be sure a bearish move will occur.
Support trendline Bounce Exceptional RR ratio Onwards
Price bounced from the support at 1.3700, and is now heading to the resistance trendline. Price has validated this resistance trendline many times, so a rejection would indicate a short, and a breakout would indicate a long position. For now I will be looking at the shorter time frames such as 1h and 4h to look for buy opportunities up to 1.4300
With DXY strengthening and XAUUSD (gold) falling, it makes sense to sell this pair. If price makes contact with the resistance trendline shown above, I will sell if the situation fits in terms of candle size and direction. Keep an eye out for this pair.
Although I prefer trading the shorter time frames like 1d, 4h, and 1h - it always helps to know the overall situation. AUDCAD has been ranging between 1.0350 and 0.9170 for many years now on the weekly chart, and on the time frames I just mentioned, this provides opportunities to trade the trend up and down to and from the zones above. So I mapped out the most...
Even with the US Dollar Index going side to side this week, Gold has fallen quite a lot. I expect this to fall to 1180 after a retest of the resistance trendline of the bearish channel.