Gold is making lower highs and lower lows which indicates a bearish momentum ..
It can reverse from this support zone.It can go higher more .. Trade with caution .. Use small lot
market retraces to 0.618 fibonacci retracement level and push up from the level .. it indicates that market will stay in bullish ..
As it is making a new Lower Low and lower high , it can go further down . It retraced to fibonacci level 0.38 and going down from this level .. So, it is making extra confirmation .
Its a bollinger bands strategy .. I hope you understood .. I used 20 MA and 2 std deviations... You can use 50 Ma and 2std deviations...
market is making lower lows for a very long time .. which indicates the bearish momentum in the market .. you can either set a sell limit order or sell stop order to catch profits in sell trade..
Wait for any bearish candlestick pattern before jumping into the trade..
It is a major zone now .. It can reverse from here .. If it breaks, we will wait for retest before enter in buy trade
GBPJPY is now in the strong support zone . It can reverse from here. It is counter trend setup .. though market is in downtrend now .. making lower high and lower lows .. so ,close half lot after 20 pips and keep trailing your SL so that if any big moves happen to the upward directions you can get benefit from that .
It can go up because it is now in the strong support zone
Overall trend is bullish , so, it is a counter trend trading . Reason: Strong zone with multiple time reaction
It can retrace and then go up .If market breaks 1832 , it will targe to the 1850 very soon .. Possible retracement can be happened between 13 and 26 ema . and the market will go up again ...
Though all the Moving average are indicating bearish signal , but I think market will go at least few pips up . Reason: It was previously used as a resistance and now it turns into support. It will bounce back to at least EMA50 or EMA 200 and go for downward fall .. #GURU
Take Sell Signal If and Only if the candle breaks the blue line(EMA 200)..Check this sturction very carefully ...
Counter Trend Trade , Trade with smaller lot size ..
Previously EURUSD did not react to the resistance line and broke it .. now it turns into support line .. and we will buy after a bounce back in between 13 and 26 EMA.
Reason : It can bounce back after touching ema200 Resistance zone.. If market breaks the structure it will fly
Gold will go up , but we wont enter right now . we want gold to come back to one of the support zones and when it leaves the zone and goes upward we will go for buy setup ...