See my previous post on this. TWO STRONG REASONS TO BUY Dollar and USD currency pairs We should soon hit the trendline.....and complete a bat pattern at 94.50..... ....also a strong bounce to the top of the channel would also complete a bearish Gartley Pattern....could happen.... Election season approcahing so I'm not sure a weak dollar would go down to well.
I opened a short on the retest of the trendilne @ 1352 Im targeting 1328.75 which is support and would complete a crab pattern.
USD is due a rebound as DXY has a bullish bat pattern....USDCAD is testing the support of this channel at 1.281...this is also .886 fib from point A....and point c in a potential butterfly.... Could be a fast ascent as little resistance in the structure Long at 1.281 SL 1.275 TP 1.308 TP 2 1.33 TP 3..1.354
Gold Failed to make a higher high today after Friday s bullish impulse, but may well offer a pullback opportunity on this bullish crab pattern.....buy at point D for the next rally up...
Recent hawkish tones from the FED have sent gold into downturn...Fridays job numbers were under target but not bad enough to force gold out of the downward blue channel......I see price testing the support trendilne and probably falling to complete the bat pattern at 1220.....if so this is the best time to short on the spike..... SHORT AT 1320-1330 SL 1335 TP1...
REASONS TO GO LONG MEDUIM TERM BULLISH BAT PATTERN JUST COMPLETED LONGER TERM BULLISH GARTLEY PATTERN JUST COMPLETED DAILY RSI 30 LEFT SHOULDER & HEAD FORMATION ALSO FORMING A DOUBLE BOTTOM ON A LONGER TIMEFRAME BULLISH BREAKOUT OF RECENT DAILY DOWNTREND Wait for price to retest the 1.035 strong support line which is .also is .618 fib of recent breakout.. and...
Dollar Index is in a pre-election assymetrical triangle pattern... I'm seeing one more long at bottom of channel and one more short at the top (which also completes a small gartley pattern). So USD pairings will likely be a bit dull until after the election when the fun starts!!!!
I will short on retest of upper trendline...my target will be bottom trendline, if price breaks up above trendline I will be a buyer to 1.35 area.... Many of the GBP pairings appear to have already reversed but there are a few more we can pick up on Monday/Tues
Price broke the trendilne resistance friday...I will be buying on retest of the trendline monday/tuesday...lots of upside potential...a bat pattern that will work nicely...(most of them can't break the trendline!) ENTRY ON RETEST OF TRENDLINE TIGHT SL..other side of trendline TP1 83.198 TP2 87.634 TP 3 94.804
One to watch! price reversed at the .618 fib so excellent upside potential in coming weeks/months. I will be waiting for a pullback or price to break the trendilne and will go long for minimum TP of 92.00
price has hit a strong downtrend resistance line...and fib resistance I will enter trade on an attempted pullback to the trendiine SL 116.4 TP 1 112.00 TP 2 100.5 (longer term trade) completes a bat pattern...
TP .8593 SAFEST SL.83346 AGGRESSIVE SL . 83
just retested downtrend line after breakout, I see a potential inverted head and shoulders ...huge upside potential...long term trade ...could run to as high as 2.12.. Go long at 1.512 SL 1.495 TP 1 1.67 TP 2 1.84 TP 3 2.12
More woe for GBP.....the bottom 1.245 needs to be retested.....
Short @ 1.775 -1.78...GBP weak so hold short until right shoulder is formed...could go lower......
Gold broke the 1330 support on the 4th attempt, i believe it will now retest 1310 area also as the 4th attempt....GOLD IS BULLISH in 5th wave so a rare opportunity to buy ...perfect place to buy is 1296...as another support level and crucially the trendline support level in the 5th wave........
Bearish Butterfly pattern - short at 1.30300 - (sorry D point is out of screenshot at 1.30300)
Long for TP .84727...see chart