GOLD has been trading within this bearish channel for close to a year now and is finally showing signs of breaking out.
This could mean bullish continuation for the coming weeks/months.
We already have a clear breakout of the channel on the daily although id wait for price to break previous resistance of around 1875 for more confluence. If price respects this we...
As we can see GU has previously respected an upward trendline from a strong bullish trend, we had a break of that trendline and formed resistance beneath it, we now have a double top formation giving us confluence for the sell setup. If i draw my fibonacci from the last major high to the previous low the double top lines up perfect with the 61.8 retracement level...
After catching a lovely move on this pair and smashing our Take Profit, we now reached the level of resistance i aimed for to take my sells, price looks to be forming a head and shoulders pattern which will give us confirmation to take the sell.
Beautiful setup for GU, this pair has been on a bullish run for the longest time.
I now see a bearish turn around for this pair, price has rejected my key weekly resistance which is already enough confluence for me to short because of how strong and accurate i know my levels are, price is also forming a lower high signalling a downtrend, also a lovely Head &...
Price is respecting lower and higher trendline and is now showing signs of reversal at current price, this pair was ranging on lower timeframes and is now breaking out, i will wait for price to exhaust(pullback) and then enter.
GOLD previously broke our of an ascending trendline signalling that it wants to fall, it then found support on a key support level and started to consolidate (in my box) so i waited for a breakout of this area and then a retest for entry which is what price is currently doing. My target is 19000 (psychological round number).
With this trade setup I have a few confluences as to why I will take this trade with simple price action.
1. We have broken our previous key weekly resistance level and price is now coming down to retest this level turning it into support
so im looking to buy off the retest.
2. My entry point of 12825 lines up with the 50% fib level, may even look for a...
We have a few confluences as for selling
1. Break of strong upward trendline and now creating resistance.
2. 3rd touch of descending trendline.
3. Showing rejection wicks at 78.6(my golden zone)
Nasdaq has been bullish most of 2020, by the looks of it we could have a bearish run for the start of 2021
This trade our TP will be around 2500 pips and risking only 250 pips.
Price has been making HH's and HL's, signalling uptrend so we looking for buys
Currently waiting to see how price reacts to the above resistance level
Will look for entry on lower timeframe to enter long position
This pair has been falling since mid-March breaking previous monthly and weekly key levels. We currently sitting on a major monthly support level where we could possibly see a double bottom form and the start of a bullish run to the 1.50000 region which would be a 1500 pip move.
GBPJPY has been on a bullish run since the start of July after the third touch of our ascending trendline which was also on the 78.6 Fibonacci level. We rested on a strong support level on the daily timeframe so now would be a good time to enter long positions to our first target which is a weekly resistance level of 139.200, if we reach this region we wait to see...
This pair has been on a clear bullish run since the beginning of July. Firstly we broke out of a good area of resistance and a trendline where we retested and created support which was already an indication for a buy. We then broke out of our strong weekly support area and did a slight retest with a nice morning star pattern which wouldve been a perfect entry for...
Price has previously been respecting 61.8 Fib zone, looking for reversal signs on lower timeframe to ride down to 10150 golden fib level which lines up exactly with JUNE CLOSE which is a monthly key level with Nasdaq,would respect the ascending trendline aswell which gives us more confirmation. Once price reaches this level we will look for buys up to 11000.