It may bounce back from the support but I think bouncing back up into the trend line will be hard.
Got stopped out in the early session whilst I was in sleep....
it's under the lower part of the weekly uptrend channel which is strong and supported. It's close to a demand zone formed in past consolidation. 0.719 as support and next to 0.715 and further down 0.710. Whilst going up follows the trend and logical unless DXY gives big jump with no fear of inflation. Inflation is a mid-term/long-term factor, however has been...
look onto either daily or weekly, you can see a possible double bottom formation, not perfect but on daily chart the big strong bullish candle does convince me there's going to be a bounce coming up in this new week. My setup is a bit conservative much lower than Friday's close, will keep watching if order not filled. (order not entered yet... may change my mind...
Friday's leap is like a bladder burst shooting through the sky after many days of speechless consolidation, or rather to say - indecision. US economy is surely recovering fast with no doubt at all, however the inflation is true hard fact that cannot be ignored in short term which should reflect back on NAS 100 accordingly. Wednesday & Friday's new were just...
Last Friday's formation of 4H TF bullish sign is not convincing, however overall it went up well above the lower trend line and strong sign of recovery from previous day's sell off (Note: I already took profit on Friday at 79). it could be just Friday's TP but if it breaks 79.05 it may jump higher to form a new confirmed 4h uptrend which from the chart seems an...
This is my setup with small lot size for maximum 1 week period, unless SL hit, I'll TP when target hit or by the week end. (I do have EA for partial TP, so manage your risk). Gold has been influenced too much in the past few days by the news, which kind of balanced out the RSI and demand. It may go further down if downtrend confirms, otherwise it should pop-up...
caught the last pulse, not sure whether it will continue up but I'm in for the rest of the day
Pound took advantage of DXY fall in the US session, however didn't manage to break through 1.42 so potential fall back to consolidation for the rest of the day again. Will TP whatever profits by end of day.
It is up to the resistance but still a distance away, so if pound finds its strength it can break up to next high, but for now it seems sell opportunities exist (no mention the GBP/USD pair may face another pressure due to the NFP from US)
retesting previous resistance. if goes lower than 78.4 it may form a downtrend breakout which is highly unlikely.
risky Friday again. This pair can still go up for sure. Do not follow if you are not convinced. If validated, it can go either lower and break out the uptrend.
it will need to either form an strong bullish pattern in the next 4-6 hours in order to push higher and break 134.157 which is to me is highly unlikely based on the past few days' consolidation lower highs. A less risky and small lot size is planned for this setup.
GBP currently is under pressure, and this pair has just reached close to its upper resistance zone. so it bears higher possibility to go down and revisit 1.961 area before going higher.
5 daily green candles on daily TF and very close to the upper trendline (downtrend), upper side has a hard resistance around 1.7 so unless it break up decisively, it will face pressure going down a bit. But do I feel it will break out up once retested 1.683 .
last red candle on 4h is pretty scary. adjusted previous chart to include 2 trades. Manage your risk.... and wear glasses and count in fingers if you are not good at numbers... (made a HUGE loss today by misplacing a decimal place on SL on gold, anyone suggest a good Risk Management tool on MT4/5 ?
still within the daily... DXY is on drug. Stopped out from previous setup