Very messy price action for GBP/USD but the momentum is still very strong to the upside. if the current candlestick closes like it is now, i'm going long to 1.30745 area. I'll make sure to keep you updated on this one!
I'd be lying if I said I was confident in the direction of this pair. I'm personally looking for a bearish move but with the strength of the Euro i'm just not sure, keep an eye on this one. Big opportunity either way!
It looks likes GBP/AUD has lost it's steam and is starting to breakdown, if this candle on the 4hr closes below current support i'll be happy to short to the 1.70698 area. My current stratergy allows me to sell now as price has closed below the Donchian Channel low but there's nothing wrong with more confluence, I'll keep you posted.
Price is due to carry on rising, by applying the parallel channel tool you can see price respected the bottom of the channel, im looking to enter the market when an opportunity presents itself. i'm also looking for another entry if we break and close above 1296.54 and possibly another if we break 1329.37.
Assuming price does fall, here's what I'm going for.
DON'T put all your eggs into one basket as I've found that Gold is very much fundamental based, it is pretty sensitive to general worldwide economic data so be careful and apply proper R/R
Just my thoughts, I'm around 80% committed to a bullish move, I'm just waiting for the right confirmations and an entry position.
I used to hate JPY pairs but I've grown to love them on the higher time frames. :)
At the minute I'm very much in the middle, I'm personally leaning more towards a short to the recent daily and weekly support due to the strength of the rally/ rising wedge, we've also got a doji/ pin drop candle forming on today's daily chart.