Still holding short in EURGBP cross, we have just got into a selling area and the market needs to retrace. So I am targetting 50% fib level with 2.34 risk/reward ratio. Have a good end to the weekend.
Strong trend on loonie, will look for a trade once closer to the trend line. Neutral at the moment but more bias to the sell side.
In a triangle at the top of the trend that's why I'm neutral. My bias is that it will break to the downside as XAUUSD needs a retracement before it breaks to the upside. On the other hand one could say that it could touch the support of the triangle and break to upside. Afterall gold stocks in the UK and US look strong and gold has been named as a "safe haven...
Still waiting for a retracement on the Dow - descending wedge formed. Short till 16327.
Head and shoulders formed at the top of the 4hr eurgbp chart. TARGET 0.76000
Head and shoulders formed on the dollar yen cross weekly chart.
After basically a straight line up, I feel as if the market has lost momentum and that the market needs to retrace a bit before pushing higher. 0.50 fib target.
50% fib level initial target. Once some profit is taken stops will be put to the 50% fib level and will let the short run hopefully getting to 61.8.
Now had the confirmation to get short in the S&P target the same as my Dow trade is to the 61.8 fib level.
Moving on with the analysis biased to the buy side on oil earlier today () for the diamond bottom too break out to the upside as hoped for. USOIL would have to break this strong trend line resistance.
Long in USOil due to - Technically - diamond bottom at the bottom of the daily chart. Fundamentally - there has been a larger fall than expected in oil inventories which could continue.
Buying XAUUSD. Higher lows have been showing and higher highs are beginning to appear. Sitting and waiting for it to break first fib level and take it up to 0.382. 1st target is 1,118 2nd target - 1,135 3rd - 1,169 After any target is hit stop loss will be put to that price of the target it broke
US30 currently in an area of consolidation and profit taking. Waiting till US opening bell to see traders sentiment.
Have a long in USOIL targeting the top if breaks out of this symmetrical triangle.
US30 currently in an ascending triangle which could be a sign of a reversal 1st target 16046 2nd target 16000
Still in a bearish trend Green lines different targets MACD has an extra curve on to show what i think will happen.