Gold is looking really good this week. I am going to be waiting patiently to see if gold will either break above 1300 and close or reject off 1300 and come back down for a third retest of the ascending trend line. That being said if we do have a clean break below the trend line and 1290 we may be looking to take shorts down to around 1280
so as previously stated we broke above the trend line, we also pushed past .68 and closed past that previous resistance. Our next upside target is .687 and I believe if we hit that area we will go all the way up to .69 to hit out original target.
We are currently bearish on EJ, if a 2 hour candle can break below 124 and close then we will be entering short. Downside target: 122 ( long term 120) That being said if we remain above 124 then our next upside target would be 126 where we would be looking to reverse back down to the 122-124 area.
EUR/JPY: We are currently bearish on EJ, if a 2 hour candle can break below 124 and close then we will be entering short. Downside target: 122 ( long term 120) That being said if we remain above 124 then our next upside target would be 126 where we would be looking to reverse back down to the 122-124 area.
AUD/USD: We are leaning towards more of a long bias with AUD/USD. We feel that we could see this pair push past .74, although we are not weighing out the possibility of a higher low being formed and .7050 met once more before pushing up to the .74 area
So with USD/JPY right now we will be focusing on the key level 108. If we can stay above this a retest of 109 and higher is possible. Although I feel its more likely that we will fall under 108 to the 106-107 region. Keep an eye out and wait for either a 2 hour candle to close below 108. or a 2 hour candle to close above the trend line, be cautious for fake outs!
Okay guys so right now its important to watch for key level .6765 If we can respect this level and stay above the trend line then we will be on our way to .69, but if we break below .6765 then .67 should be met shortly after
USD/CAD has broken through the ascending trend line.
This is still looking like a great short. Im still personally waiting for a retest of the trend line before entering this trade.
If we retest and the trend line holds as resistance then I believe 1.32 will be met very quickly, I feel long term we could be seeing this pair come all the way down to 1.28
Here we have AUD/USD ,as previously stated I'm still potentially looking like two great trade set ups. I feel we will be rejecting off the .7150 resistance and we are going to come down and test .7050 as support.
Although it's important to note this pair is looking very bullish in my opinion so shorts will come with some risk. If you'd rather be patient then you...
As stated in my last TA of GU this pair needed to stay above key level 1.275 other wise we could see this pair fall to as low as 1.250
That is what we currently are seeing, i feel 1.26 is coming soon and maybe 1.25 shortly after.
That being said I still feel this pair has the potential to push up to 1.3 some where in the near future.
My last target of 109 was hit and I closed my profits.
I am currently waiting patiently for this pair to decide which direction it is going to go.
Upside Target: 112
Downside Target: 106
I would recommend sitting on your hands and let the market play out, and be cautious of fake outs.
Remember we did just experienced a flash crash so the markets going to be a...
Heres an update of a GOLD short and reverse TA I posted yesterday. Profited 500 pips from my short and reversed my position at 1280 the trade is still live target 1: 1300
Let me know what you think!
Thanks for looking!
Gold Target 1: 1280
Target 2: 1300
We have broken below the descending trend line, 1280 should be hit soon. I feel gold is still on a bullish rally and that we will be seeing 1300+ Shortly after we find support.