The Support Trendline on this Elliot Wave channel has been validated by wick retests. The Dow overall has been pretty bullish with what i believe to be healthy corrections and fair pullbacks. Good risk to reward. simply put
HTF coulnt break or hold 1.34/1.35 area. Purely a signature trade technical setup
LTF challenging and testing VWAP but not breaking over or under. Clear area of consolidation and price discovery as EMAs and SMA are not giving a clear indication as to trend but clearly trend momentum shift.
Overall Bearish GBP cuz of uncertainty in brexit and technicals as mentioned in linked chart ideas. I was looking for a good entry in GBPUSD but i am also bearish the dollar so i see this as a good opportunity to get short the pound.
Bearish Reversal forming as indicated by Divergence in the RSI on LTF and HTF. Price is...
SXY weakening in price. JPY holding above 50 EMA on HTF.
Heavy divergence on LTF. Trading below 40 EMA on all intraday Time Frames. Testing monthly VWAP, below weekly and session VWAP. EMA bearish cross. Below stationary 50 on RSI on LTF
Week close w newfound resistance @117. The next key market level...
After Looking at GBPUSD and EURUSD i determined that EURGBP would be a good cross to play. Bearish GBP for Brexit uncertainty + monthly Levels. end of year is approaching. Bearish USD due to uncertainty in election. Why would money come into these currencies right now? Vaccines may have more positive impact on equities than currencies.
Price is trading below HTF VWAP and 50 EMA on multiple time frames. Bearish GBP overall based on uncertainty going on in the brexit negotiations. on top of that there is a pandemic going on. DXY is facing uncertainty and lack of confidence as well because of the election.
price is trading below 50 EMA on 4 HR and below...
Euro is clearly bullish. DXY is completely bearish.
Higher Time Frames suggest a strong bullish move.
Looking to get in at market open. There is support a 1.21 level. price discovery shows price is holding above this level. VWAP supports current trend on all time frames. Price is holding 50 EMA. At worst we are at best...
mid term bullish gold and bearish . overall uncertainty in the dollar, intrensic value in metal gold. Uptrend Confirmation, Long Priority
Consolidation Pattern (A) respected and held the 1830 support. 1HR Session VWAP suggests that in the short term price is trading higher after retesting 1830. Price is holding 50 MA on...
50 Ema Bounce after support at 1800 was respected... a higher low was solidified based off 4hR time frame in confluence with the stationary 50 on the RSI. conservatively securing profits at most recent high.
1.35 is obviously a super important level and as of right now GBP is showing signs of a potential bearish reversal. in addition I suspect that DXY is approaching a correction level @90. BXY is at a key monthly resistance level.
This correlation outlook lines up perfectly for some mid to long term short moves on GBPUSD as the technical also support this hypothesis.
Short @19 if it extends to the bearish channel resistance so long as price hasnt begun its 5 wave.
During Golds last correction from 2011 to 2015 off a parabolic bullish run, gold pulled back to a 61.8% fib level from its true swing high to swing low, this was after heavy memoentum where it re entered into another parabolic bull run in 2019.
siomple setups, 61.8% retracement from most rececnt swing high to swing low is in confluence with the trendline resistance in addition to most recent high... price wicked so far, looking to take low risk high reward entry to most recent lows and next level of support.
AXY had a nice bearish move finish playing out this past week or so, it is is now at range support. i am bearish this move, but the risk to reward on this quick bear rally shares nice confluence with currency correlation and market structure.
my skeptical side is telling me to be careful with JPY as it has reached a channel support where it could starting pumping...
Called this reversal weeks ago, after a really solid retracement that almost came back up to 1.185, momentum failed and formed a descending channel. entering on this small bear rally because it low risk and moderate to high reward...
A lower low was formed previously to the most recent lower high clearly indicating that EURUSD is in a healthy bearish trend.