Good morning,
The 'Cable' RPI and Core CPI lower than prior but as expected! As seen on the 4 hour chart, a bearish engulfing candle is currently being set up and would like engage in some plotted risk trading.
A short @ 1.2403 position is taken, with a stop loss @ 1.2470 and a take profit @1.2280 - This take profit is conditional, meaning that if the dollar...
Good afternoon,
Gold to be sold after all the long positions accumulated for the past few weeks over geopolitical news and jitters over the rate cuts.
NFP beats market expectations, all I needed was a strong 190K, but I was surprised with 224k.
Unemployment took a plug of 0.1%, up from 3.6%. Still ranging within probable range, nothing to be worried...
Good afternoon,
Yes, the Eur did make nice up move after the Fed's minutes yesterday, only to test the 38% on the fibo retracement @1.1316. How could we forget what Mario Draghi spoke about the weakness of the EuroZone and still have this major move?
I believe this is what we call 'White noise"! I shall try to keep my sights on the major news and forget all...
Good morning,
I would like to trade gold at this moment, but I am not willing to take a massive risk prior to FOMC minutes that will be released later on today! As shown in the graph (4 hr time frame), gold is priced on the higher bound of a 1.5 year old wedge.
While the US-China-Mexico fumble is still on the bounce, twisted with brexit rumble and global...
Good morning,
Looks like the EUR is finally out of its 10 months descending wedge, reversing its downtrend. What is helping the EUR finally push out? Could it be the political turmoil in England over Brexit? The US -China -Mexico dispute? None of this truly matter, its already priced in and all we have to do is look for a good entry and a good exit.
I shall...
Good Morning,
Even though I dislike taking risks in trading currencies that are in economical war, but I noticed a pattern. I see that the pound has completed the head and shoulder pattern that was formed between Feb and May 2019, plus a reversal bar on the daily close, has given me the courage to take a long positions @ 1.2650 with a take profit @ 1.2795 and...
Daily chart on the USD/JPY seems to give out a couple of signals that could be worth a long dollar trade. On the chart above, the 'U' shape for a possible Cup and Handle pattern might be shaping, combined with a double bottom at the 107.80 area are giving me the confidence to enter this trade. The fib. retracement just above the 61.8% is the reinforcement I was...
Good Morning,
Over a week ago, I posted a long position on Gold @,1275, showing a nine month trend and decided to take the risk. Half positions were to be closed @1,300 which occurred on Friday, May 31st 2019. Here is an update on where to close the remaining positions. In this chart, the Fib. retracement of 78.60% and the wave movement of the flag pole both...
Its been over a year where the prices have ranged between 114 to 104.5, giving no clear indications. Might as well take advantage of this big range and check out the daily close below the fibo retracement of 50% @ 109.58 to give a clear path for the 61% @ 108.4. Prices currently @ 109.3, got to make a move , placing a stop @ 110.
Good luck
A nine month trend is still holding for Gold! If you are a risk taker 'like myself', an entry @ 1275 with a stop loss @ 1260 is in play. Targeting half of position @1300 as a first level. A break above 1300, we should ride the wave back to 1340.
