TraderXR

TraderXR

Will short GBPUSD if it satisfy the conditions: 1. resistance @ 1.26251 holds 2. if point 1 fails, will check if major channel resistance holds

TraderXR

From the 4H chart, it looks like a head and shoulders pattern From the 1H chart, I will check if it breaks the resistance of 0.69581 first, followed by the previously low of 0.69650 to determine if its an uptrend still. If it fails to meet the above, and px closes below 0.69488, most likely to be a downtrend. Will require to see if it breaks the channel support...

TraderXR

seems like a nice tight consolidation now with signs of a symmetrical triangle. Will wait for price to close above 1799.50 and go long. TP at 1802.53, 1804.55

TraderXR

check if the support at 121.563 holds Will go long if price closes above 121.567 on the 1H chart if price breaks the channel support and is a confirmed breakout, will go short @ 121.337

TraderXR

seems to be an ascending triangle - will wait to see if the resistance of 0.69696 holds as it has been retested many times already. If price close above 0.69804, probably will be an uptrend and next price to check will be 0.69839, 0.69912. If the resistance holds, will short at 0.69653. Next levels to check will be 0.69607, 0.69535

TraderXR

Seems to be breaking out of the uptrend as it reached the 4H resistance check if its a break out of the channel at 1.26124

TraderXR

If the px breaks the support of 1.25698 will probably means its a downtrend and short and will look out for price: TP1: 1.25090 TP2: 1.24374 If support holds, next px to look out for: 1.24089

TraderXR

First level of resistance from the fib = 70.171 If resistance held on, next level to look at will be 69.917

TraderXR

1.1260 is my support - if it breaks that level, next level to look at will be 1.1235 If 1.1260 support holds, will go long and next level to look at will be: TP1: 1.12849 TP2: 1.13028 TP3: 1.13154

TraderXR

Possible? Outcome (1) - might test the support as mentioned in previous analysis and continue to reach approx 1817 Outcome (2) - if px goes below 1804 mark and support fails to hold, analysis will be as per previous post Would not short or long now - wait for better entry timing Do share with me your analysis.

TraderXR

Unsure if the price of XAUUSD can sustain above 1800. (seems to be a rising wedge on 4H chart) Will be checking the support level of 1799.269 - if the support is strong enough, probably will still continue to increase Else, will likely to retract down to (1) 1791.377, (2) 1788.087 Do share with me your analysis too.

TraderXR

Previous analysis was right, resistance held on. Now seems to be a breakout of the channel. Next price to watch: 40.51 to short and 39.55 to TP What do you think?

TraderXR

Seems to be retesting the resistance of 40.55 - which has been retested a few times now. Would hold on for now to see if price breaks through 41which could be a good upside move else 41 could act as the resistance again then would probably short it. What do you think?

TraderXR Updated 

Based on the 1H timeframe chart, it was in a consolidation. Expecting a bullish breakout. Prices to watch: 1782.50, 1789.2