Market broke below ascending channel to the downside. Also, reacted below short term S&D zone.
Market testing moving average with MACD showing a change in momentum.
Chance for a good short with extremely good risk reward.
Gold expected to be bearish below 1297 towards 1260.50 followed by 1245.25.
Price is holding below descending trendline resistance and also broke the pullback support line (now resistance).
Long term, gold is in a downtrend
Global markets are currently in a risk off environment given the recent trade-war escalation tweets by Trump. This also is in line with safe-haven currency such as JPY outperforming this week.
Technically, market reacted below long term descending trednline resistance.
Price is also currently testing what I would...
I expect a Gold to drop.
Market close to descending trendline resistance.
RSI also testing descending trendline resistance. Market has reacted below this resistance multiple times in the past (shown by yellow arrows).
Long term, market within a descending wedge pattern.
Market however is still holding...
Market drop in progress towards Trend level at $1.00/$0.97 region. After which an intermediate bounce is expected.
Market reacted below desceding trendline resistance
RSI (21) reacted below 53% resistance level and has entered bearish territory below 50% level.
RSI (21) 53% resistance level is also where price has reacted many times in the past, as seen by...
Market is within a long term descending wedge pattern.
Currently, price has tested and reacted below descending trendline resistance.
RSI also testing 55% resistance level where market has previously reacted before (as pointed out by the yellow arrows).
I am more confident that price will only pull...
Market reacted below descending trendline resistance.
Similarly, MACD indicator showed a bearish cross signalling for market to go lower.
This trade was entered yesterday but I forgot to publish it. However, as expected, market has moved in my direction. I have also moved my trailing stop lower to...
Market reacting below descending trendline resistance.
Market also holding below it's natural MA (34). We see that price respected MA (34) quite often in the past.
Stochastics also shows a reversal with room for further downside potential.
SL : 6.68455
TP : 6.8300
Market reacted and broke above descending trendline resistance (now support).
Market also now above EMA (34).
MACD also shows a bullish crossover and now also entering bullish territory.
Market reacted above descending wage support with price closing above EMA (21).
MACD still in bearish territory however, showing a golden cross signalling a possible reversal.
Wait for a pullback to short below 1299.05 where also happens to be descending range resistance.
Market broke below ascending trendline support (now resistance)
H&S pattern seen forming
Market holding below EMA and MACD now in bearish environment
After the crazy impulsive move down, market actually rebounded. Price is now testing ascending trendline support.
Market is also holding above EMA (17). MACD is now testing 0% level and has moved up into bullish territory.
This is a short term play with a simple risk reward of 1:2
Market pulled back and...
Long 1D1 with low conviction
Market is forming a possible double bottom reversal pattern.
Only when price surpasses $0.330 will this reversal pattern be confirmed.
$0.330 is also a strong resistance level found twice via:
- Descending trendline resistance
- Double bottom neckline
Should market break above $0.330, we can expect to see...
Long position was kicked in as market pulled back towards ascending channel support. This also corresponds with a strong supply/demand level.
Market also testing EMA (120) where price reacted above before. This can also be seen on RSI (34). I have pointed it out using the purple arrows. RSI (34) also coming to test...
This trade was triggered earlier this week. However, I chose not to publish it as it was a low probability trade for me at that time for the following reasons:
Market was only testing the ascending trendline support (now resistance)
Normally I would wait for a pullback to retest the trendline before entering to short
Market was also forming a Head & Shoulders...
After a strong rally upwards, we see a divergence between momentum and price. RSI (21) has also crossed into the bearish territory below the 50% level.
Shortly after which, market broke below the ascending trendline support (now resistance).
Price has also closed below EMA (34) which has acted as a...
This trade was knocked in this wed (27th Feb 2019). The reasons why I went short is listed below:
Whilst market reacted above the ascending trendine support (in red), it failed to surpass resistance at 0.72100
Market then broke below ascending trendline support and also spiked below 55 period EMA
At the same time, MACD...
This was quite a simple set up though admittedly, the risk reward wasn't great. However, when presented with an opportunity, I will grab it.
Here i saw market reacting above ascending trendline and also holding above EMA34. MACD was also in a bullish environment. Market was also testing a very key long term trend level at 1.135.
I set my entry at 1.13525 and...