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Expecting a pullback into the nearest resistance. usual bounce to follow as its a fresh level with investor optimism but key short sign to me will be a lower high formed from the bounce, marked with the Red Cross.
if that plays out I'll be expecting a deeper pullback to the stronger key level already marked which confluences 61.8% fib and a pivot level of R...
broken out of daily box range and key daily resistance has become support.
the level was tested multiple times before a move up
new structure has formed and we see a double bottom creating liquidity pool. this confluences with the h1 block below and my long GBP bias
(this is not trade/investment advice. take at your own risk)
Short on basis of possible EUR related risk aversion as well as weak dollar
currently in an ascending triangle with resistance at the 38.2% fib level
looking for a break below the breaker which is currently holding.
breaker and trend line break and retest would provide confluence for a short
possible gold play, ignoring fundamentals and purely trading price and techs
gold take stops and rejected off weekly trend line.
priced closed below the weekly range 50% level
short down to weekly low
stop above prev swing high
Retest of move off a daily order block
H1 channel break and retest
fibonacci key level confluence with H4 support level/zone
Potential dollar weakness on current political instability (north Korea vs Trump
we ran into a key daily level and rejected, retested and rejected again.
we then had a break in MS at 114.856 + fibonacci confluence with the 50%
currently in profit and targeting 113.1
the trade was entered on the 1hr chart with a limit order but targets are derived from the daily time frame
potential short at the 61% level
i perosnally dont see much logentivity in this trump fueled dollar run but with the dxy making fresh highs i wouldnt want to be trying to pick tops shorting.
will wait for price action confirmation around the 61
Dollar Yen short on risk off flows into the yen and dollar weakness
would be expecting a entry on the break and retest of support
wont be taking this trade as the market is likely to range wildly and unpredictably as results and polls continue to filter information out about the election results.
one for me to watch and study this week
Dollar has been heavily offered and stocks have sold off on trump fears.
all the bullishness we have seen the past two months has begun unwinding.
after the brexit referendum result i am prepared for a shock in the us election. nothing to suggest buying this market so i would be expecting 93 on the dollar minimum if Trump wins.
A trump win has been priced in...
bullish bias on the dollar,
cot data support strong dollar and weaker gold and oil
technical pattern showing XAU may be offered at 1345
would be looking for entry at 1345 or on a retest of a confirmed break in the bullish market structure
LOOking to short this on a pullback to the level confluenced with 50%
ema indicates trend is still bearish and we have a number of H4 lower highs and a significant market structure break