About meStarted my self-taught trading journey in the FX market since 2009, I have started my career in the FX market as a chart analyst, a trainer, a coach, a speaker, as well as a fund manager and trader.
The gold has wiped out all gains within this week.
If the tone was set in a bullish manner in the beginning, the downward movement from the peak will attract many late buyers.
However, the price makes new low again and again, causing many late buyers to be trapped.
Now that the price has retraced back to this week's opening price, it is very likely that most late...
I have posted my forecast for both USDCHF and USDJPY earlier this week.
USDJPY has reached the supply zone and it has currently completed the 3rd wave of retracement.
USDJPY is likely to fall anytime, or it may probably inch a little higher again just to cause more sellers to stop out.
USDCHF has dropped as forecast and is currently ranging just above 1.00.
We have seen the intention of the dollar has turned towards a weaker tone last week.
USDCHF went into the 3-month supply zone last week and the price fell strongly on Friday.
The last bearish daily candle has confirmed a break below of a rising trendline which signals for a trend reversal.
Today, the price has retraced consistently and there is a significant...
Since USDJPY recovered from a sharp fall, it was on the rise within a rising channel as seen in D1 chart.
The price has made 2 waves of bullish trend in order to form a rising channel and the price is seen making retracement from the top of the channel.
In the H1 chart, the rising trendline which has supported the price to the top of the rising channel was broken...
The gold set to climb further after a strong rebound that lasted throughout Thursday and Friday.
The price has successfully rebounded off from a demand zone and broke out of the range between 1316 and 1303.
The price is also seen breaking above an inside bar based on W1 chart, a sign of a strong bullish moment.
Traders can wait for the price to retrace back to...
The dollar climbed and created new high every day without failed and eventually entered into the 2-month supply zone at 97.
The Gartley pattern was successfully formed as a result and on Friday, the price took a strong bearish stance, leaving a long upper shadow.
Just a week before, the dollar has gained consecutively for 8 days but this week itself, there are 3...
USDJPY has gained for 3 consecutive days just before it fell yesterday which has wiped out the entire gains on Tuesday.
The fall caused a broke below of a rising wedge which gives a higher probability for the price to fall further.
Wait for the price to retrace and retest at or near the bottom of the rising wedge.
Target profit is seen at the demand zone around...
After the release of U.S. CPI last night, the gold price eventually shot up and break above the top of a range at first.
Very soon, we see the price pulled back sharply as the dollar climbed again.
This is an obvious trap to lure buyers who go for the break-out.
So what's next? Will the buyers just leave because the price came back into the range?
EURUSD is set to climb further this week as it attracted strong demand from its 3-month demand zone around 1.126.
At the same time, the dollar has completed a Gartley pattern based on the D1 chart which technically suggested that the price will start to fall.
As demand starts to drop for the last 2 candles, it is a sign of a lack of buyers at the current price.
If you are still bullish on the gold, try not to rush in yet.
We have seen how strong the dollar is and it is clearly oversold too, but bear in mind that the highest was 97.7.
What's interesting to know is that though the dollar has broken a new high yesterday, gold did not.
So that's a good sign for the gold that there's still demand supporting it from falling as...
I predicted that the price will reach beyond 1.005 before the trend reverses from the 3-month supply zone but definitely not expecting this kind of movement.
It is very irresistible from shorting USDCHF whenever it surfaced above 1.00.
What probably has made it even more attractive is the double top pattern formed around 1.002 with its neckline at 1.00, and the...
When gold finally broke above 1300, it was a sign that the price will continue to rally and it did.
But what's quite abnormal is how fast it gained another 26 dollars with no resistance and in just a few days.
However, seeing how bullish the gold is, many fell victim into a so-called 'hot deals' but only to find their positions been locked down as it ranged...
The week ended with the 7th-day consecutive gains, showing how attractive the dollar is which also suggested just how much impact can high-interest rate brings.
Despite the fact that the dollar is on a bull run, it is nevertheless limited on the upside as the dollar reaches and beyond.
The price closed just below the key level 96.7 with a long lower shadow which...
USDCHF has ranged for about 2 weeks time before the price broke above and rise beyond 1.00.
The price has begun another wave of retracement and will soon retest the top of the range.
USDCHF will soon climb into a 3-month supply zone where a high volume of selling strength would be available.
Also, notice that the dollar has been climbing for the 6th consecutive...
The gold broke below the bottom of an ascending triangle earlier just before the US session.
But the price pulled back very soon after that and its now almost back to the top at 1315.
If the price manages to break above 1315 tonight, the price is very likely to rally towards 1322.
Wait for the break above to confirm going for a long, or enter a minimal amount to...
EURUSD has gone through a full week of retracement, forming a falling wedge in the process.
There was then a fake break below of the wedge as the price rebounded back into the wedge.
An inside bar was formed in the H4 chart, awaiting a break above to confirm that the end of retracement, as well as the beginning of a new wave of a bullish trend.
Wait for the price...
The gold retraced downward as expected, and eventually completed a Bat pattern.
There was a spring effect that just happened minutes ago after the completion of a bullish bat.
The next hour will be critical as the supply zone at 1310 has proven to be tough and has attempted a rebound.
What's left is if there's enough buying strength to keep pushing the price upwards.
Since the gold break above 1300, the price has rallied between 400 to 500 pips.
And in the midst of it, a bat pattern is also about to be completed.
The price is now retracing just below the 9-month supply zone and the price is believed to climb again and test the supply zone again.
The whole process will allow the price to range for days and even weeks before the...