SimpleMillennialAverage

SimpleMillennialAverage Updated 

I thought we are gonna get a reversal with the huge bid upon tagging the 200 weekly MA but so far its just retesting the breakout Entry: 1.15665 Stop: 1.7459 Target: 1.06670

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Entry: 1.17232 Stop: 1.8386 Target: 1.07743 DXY correlation in play once the weekly 200MA is broken Bonus Target: 1.06773 due to a possible gap fill that was left by the French Elections

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White line will be the trendline resistance for the play Red line is the stop loss area Daily view of the trendline support: First TP is 1.25 or till the white trendline resistance is showing some weakness

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:)

SimpleMillennialAverage Updated 

Daily TF view: XAUUSD has fallen a lot after FOMC raised rates a few days ago right after it was able to break through the "Big Bear Resistance Trendline" but failed to hold and close above it forming a bearish candle in the weekly . Now it looks like it was able to form another bottom at the 1240 level with a nice green reversal candle on the Weekly 20MA...

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OANDA:USDJPY has consolidated for a few days already and failed to retake the 112 level. With a series of lower highs, the supply resistance level is slowly going down to meet with the Weekly 200MA support. Its possible it might find support at the Daily 200MA level as it was able bounce off it from the previous downleg. In my opinion it might still test the...

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OANDA:NZDUSD looks like its forming a nice floor where a lot of key technical levels and indicators are at. 4H Moving Averages: OANDA:NZDUSD was able to get above key moving averages in the 4H timeframe and it has held well so far. Weekly Higher Lows Trendline: Even after some attempts of breaking the trendline it has held so far and looks like it was...

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OANDA:USDJPY just had a breakdown not only breaking the weekly 200MA but also the lower support channel but nothing goes in one direction in the markets so I expect a pullback before another move downwards. The price is currently between the daily and weekly 200MA so I expect sideways action with a slight bullish bias in the short term. It will be Daily...

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OANDA:EURUSD bounced off the lower channel with the help of Trump showing a nice reversal to the upside. Daily Timeframe View: The channel is still intact so the upper channel trendline is the next logical target from here. OANDA:EURUSD is also currently above the daily 50MA and the 4H 200MA so it might consolidate and even provide support before the next...

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OANDA:XAUUSD looks like it got rejected once again by the Wall of Trump resistance and needs one more pullback in my opinion 4H Timeframe View: It broke below the 20MA/50MA and looks like a hammer was formed which indicates a possible top formation Short: 1249.240 Stop: 1254 Target 1: 1234 The 200MA at the 4H Timeframe might provide decent support so I...

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OANDA:USDJPY looks like its bouncing back up after a severe downmove forming a nice channel. 4H Timeframe View: It was able to pullback and even retest the 20MA in the 4H timeframe so it will be great if it touches the 50MA(yellow line) and hold above it for a confirmation of the short term uptrend. Long: 111.342 Stop: 111 It might still pullback to test...

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FX:USDJPY broke the 50DMA once again and looking bearish in my opinion. The breakdown and downtrend is also supported by the moving averages on the hourly timeframes. Don't have any big positions as I expected it to retest the 114 breakdown level but it didn't happen 4H Timeframe View: FX:USDJPY tried to break the 200MA but it failed and continued its...

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OANDA:XAUUSD has broken out of the downtrend after the 1260 rejection and with hourly timeframe moving averages confirming the trend change. Bulls are still in the game and it looks like it will have another try against the Wall of Trump resistance. No big positions as of yet as I expected a pullback that didn't materialize and it consolidated for 2 days...

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FX:USDCHF is still on a downtrend so I'm placing a short as it has consolidated nicely since its drop Entry: 0.99653 Stop: 0.99792 Profit: 0.992 Any feedbacks are appreciated!

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Just scalping a high probable downward move on FX:EURUSD . Entry: 1.6510 Stop: 1.066 Profit: 1.06250 Any feedbacks are appreciated!

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My previous trade banking on a daily reversal failed so looks like FX_IDC:XAUUSD is on a last stand as the 50MA daily support(1210) needs to hold if bulls have any chance of turning the trend around. Its possible the downward momentum may continue till Non-Farm Payroll release on friday. Entry: 1225.45 SL: 1227.5 TP: 1210 Any feebacks are appreciated!

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FX_IDC:USDJPY looks like it got rejected by the daily 50MA courtesy of Janet Yellen. As long as the bearish momentum continues, its possible that we may retest the daily low once more completing the handle before NFP/FOMC. Entry: 114.241 SL: 114.5 TP: (tp1) 113.5 (tp2) 112.7 (tp3) 111.6 Any feedbacks are appreciated!

SimpleMillennialAverage Updated 

FX_IDC:XAUUSD now has a bullish daily hammer courtesy of Janet Yellen after being rejected from 1260 level. If the bullish momentum continues then FX_IDC:XAUUSD might have the weapon it needs to break that wall and the cluster of moving averages but it needs to get back to the fight. Entry: 1229.02 SL: 1227(Moved to 1229.5) TP: (tp1) 1246 (tp2) 1251 (tp3)...