Currently in an ascending channel Looking to trade the channel up If price breaks channel then we will look for shorts to the outer trend line
This is what i am expecting for DXY Currently using the kneck line of the head & shoulders as support. Expecting more downside to the outer trend line. (see previous post for higher timeframe chart) Have a great week everyone
Favouring buys for US30. Marked out bearish scenario because the market doesn't always do what we expect it to. Do not get too attached to the market moving one direction. Have a good week :)
Gold Analysis + Forecast. Weekly, Daily & H4 Charts. Plan A - Expecting Gold to continue to rise. Looking for a break of the daily structure and correction to look for buys. Plan B - Gold reacts off of the daily structure & continues its down trend. Will wait for a break of the ascending trend line & look for shorts
This is my Analysis and Forecast for the DXY. I am looking at XXX/USD Longs + USD/XXX Shorts
Expecting gj to push higher so have entered a long. This lines up with my bearish area of interest. Counter trend trade but lets see :)
Candle stick patterns can give us an indication that the market will reverse or continue. These patterns often form at the high's or low's of the market and can be found on all timeframes. Candle stick patterns are only 1 part of all the elements needed for a high probability trade but an important one for me because once the candle has closed it is a confirmed...
I am expecting more downside for Gold. Its making LL's & LH's, formed a descending channel & i expect the DXY to push up some more. If it break's the upper structure & breaks out the descending channel my bias will change and i will be looking for buys but until then i am short. Daily Chart Linked Remember we have no control over the market, it does whatever it...
This is what i see for the DXY at the moment. It has formed a large ascending channel (Correction Pattern), inside of the ascending channel we are forming a rising wedge (Reversal pattern) & we are approaching structure. You can see at the structure level the ascending channel trend line, the rising wedge trend line & the structure meets and for me this is the...