Potential H&S forming off the recent push upwards. also looks a bit overbought at the moment. after a pullback I think it will continue too and break through .6700
short term trade mainly trying to catch some pips while looking out for next long entry
resistance at 146.00+ trendline rejection could equal a decent pullback to the 61.80 Fibonacci level.
overall I think Gj is going back up to retest 149 but it seems a bit overbought/extended
tight SL, big TP
im using lower risk than usual due to the massive bullrun it has had the past 16 hours. cant expect them to stop for you :)
gold is very bearish but oversold at the moment. im looking for a pullback to around the 1210 area before going short again. using fib high to low 61.8 for take profit levels. risking minimal pips due to so much bearish momentum.
trying to catch the second shoulder down
possible H&S formed (yellow lines)
rejected 3 times at 110 (orange box)
i think the (head) of the shoulders might've been a fake out for buyers but only time will tell
-happy trading to all
EU is at a support area I have drawn. not too confident about this trade due to EURO strength but I can afford to lose 25 pips and possibly make 60-70pips. looking to target around/above the 61.8 fibo level of the previous low to high
I didn't expect EU to move so much on a Monday. if you look at my previous EU analysis from the weekend it was pretty on point. looks like it confirmed my support rejection and came back down to my entry point. Seems to be making a bullish W pattern also.
We took long yesterday from the bottom of the channel and killed it. I didn't expect it to go this high but that just means better entry for me.
taking shorts from 149.20 looking for a solid 100+pips
GJ hit the bottom of the channel I have and looks like it will be respecting it. I'm looking for a retracement buy to the 61.8 fibo level from the previous high to low. I do think it will come to the top of my channel and make a lower low on the daily timeframe but needs to retrace first.
i think EU still has some room to retrace to the 1.76-1.74 level to make a M pattern and then head upwards to make new highs on the daily timeframe and possibly to EUs next key level of 1.1900
EURGBP tested and was rejected by the key level of 0.87500 I have
I think EG will go higher but it is way overbought at the moment and has just bounced off a daily trendline I have drawn
looking to short until around the 61.8 fibo level of the previous low to high leg.
EU has made a bullish M pattern and this is a smaller TP then most trades I take same with SL. it will probably make a new high on the 1hr chart but overall looks bearish still.
usually short trades don't go well for me but this looks like a good setup for short
resistance rejection, trendline, and fibo level helps me confirm this trade.
long from 61.8 fibo respect and support level of 1.5100
I already was in this trade earlier this week but had my SL too tight. I try not to chase trades but this set-up looks good to me still
