A level to take a short from around 1.1214 - 1.1218 coincides with the hourly 200 MA and the .50 fib level. A better priced level for a secondary short entry exists at 1.1241. Both level are deeply set within the range that price is approaching which means that by the time price reaches the lowest lows of the range (around 1.1200), momentum will have slowed by the...
Although price is still in a long-term range, medium-term price action is fluid enough to take advantage of trades of medium term duration.
Around 1.3100 there are several conservatively placed scalping levels for short positions as price momentum wanes and price approaches the early September range.
Below are several levels (1.2938 and 1.2900 region) to...
Despite the current ranging nature of this pair. Major golden levels have all defined major price privots and therefore the limits of the current range. However, any trades taken from these levels should be traded as scalps and traded with reduced leverage/size and preferable with additional confluence factors present (such as diagonal lines).
Despite the current ranging nature of this pair. Major golden levels have all defined major price privots and therefore the limits of the current range. However, any trades taken from these levels should be traded as scalps and traded with reduced leverage/size and preferably with additional confluence factors present (such as diagonal lines).
After becoming overbought over the course of 3 days in the run-up to Friday's close, price touched and reacted to a significant price level around 1.4650. The lower time frames reveal how price reacted to this price area. Unless price gaps up through this level at the market open, a short near the market open should be considered from around 1.4650 - 1.4654.
...
Learn more about golden levels: www.streamhedge.com
With price action since July indicating a bullish reversal, we can analyse past price ranges to see where a short trade might be best placed. The range that was formed since the beginning of the year, which price fell out of after the Brexit news, looks to be the nearest producer of levels to take short...
Learn more about golden level trading: www.streamhedge.com
EUR/USD is making another attempt at breaking out of its long-term range. This current bull run, which started before August, could be overdue for a deeper counter-trend retracement. Accordingly, the chart above outlines two separate zones from which long positions could be entered in order to take...
Pound price action has recently exhibited "trend stacking" behavior whereby previous support levels tend to turn into resistance as price moves further down. Therefore, it is wise to look for price level to take advantage of the existing bearish momentum. While a well formed level exists at 1.2950 - 1.2960. The higher placed and better priced zone around 1.3000...
While many FX pairs have remain range-bound for the best week (a common occurrence during the summer), the S&P 500 has gained in bullish momentum since the Brexit news was released. Traders who bought at bargain prices after the Brexit induced drop and longer-term investors who see U.S. equities as a relatively safe haven have lifted the S&P 500 to such an extent...
Learn more about golden level trading: www.streamhedge.com
Recently released manufacturing and services GBP news is pushing the pair back down to the lower edge of its intermediate range at around 1.3070. The 1.3000 price level which exists slightly below the range was very well respected by price both from the long and short side toward the beginning of...
Learn more about golden level trading: www.streamhedge.com
The Brexit risk event and the subsequent rally in equities have given an upward push to golden for reasons of risk aversion and inflationary concerns, respectively. A professional analysis looks ahead at the technical barriers that are most likely to stop price once these fundamentals drivers have...
Learn more about golden level trading: www.streamhedge.com
As the week closes we plan ahead and look for possible entries for next week's open. A level at 1.3600 is defined by the June gap shortly after the Brexit took place. Look for a short-term pull-back in price from this level. It was also respected as support back in 2009.
The prime target for a...
Learn more about golden level trading: www.streamhedge.com
The pound has breached the initials lows around 1.3215 that were formed right after the drop after the Brexit news. The fact that this low was breached and did not act as support for a sustained rally, indicates that traders anticipate GBP to remain weak for some time. This creates an opportunity as...
Learn more about golden level trading: www.streamhedge.com
EUR/USD buyers are currently climbing a wall of worry after the Brexit induced drop in the pair (shown by the jagged PA since the drop). This means that they see prices as cheap enough to buy but are at the same time concerned about the future of any long positions. Accordingly these buyers tend to be...
After the increase in risk aversion after the Brexit vote, traders are slowly buying up currencies and equities whose prices became depressed during and right after this event. This buying spree creates an opportunity to short a market, as traders who bought early on after the initial drop start to close their positions and late-coming traders who who buy late are...
Unlike with some other pairs such as NZD/JPY, bargain buyers did not rush in to buy up GBP as vigorously after Brexit induced risk aversion calmed down. This is due to the fact that GBP itself was involved and traders were (and are) still worried about the long-term pressure on this pair. This hesitancy is clearly shown in the post-Brexit vote price action. If...
Several resistance levels appear starting @ .9879, with several past ranges defining them (specifically the recent late May price range). A conservative short entry should include the psychologically significant round number .9900 as it seems to coincide more closely with the trend line. Long-term the pair is range bound, so quick profit should be taken on this...
A significant amount of support exists within a cup range formed earlier this month. Price support ranges from .7215 to .7233 (a conservative target would include the round number .7200). The brexit vote along with some risk aversion has pushed this pair down closer toward this price range and while price is still 100 pips from this entry target, further equity...
