waynelek

waynelek

Triangle wedge forming.

waynelek

stay safe wear your masks

waynelek

Hi Traders, Currently EURUSD seems to be forming a head and shoulders pattern and prices are currently at the neckline. In the coming days, we expect prices to break the neckline and proceed downwards to hit our profit targets. This is not a trading signal, stay safe and always protect your capital.

waynelek Updated 

Dear traders, here is the general outlook for gold on 20th May. Looking at the charts, it seems like the past few days was a correction for the precious metal. Prices made a high at 1765 and then retraced to 1725 before the bulls started to gain control again. For this trade, we are expecting another bullish impulse back to the resistance at 1765. I will be...

waynelek Updated 

Hello Traders, my previous trade was closed with a profit of 220pips, I am still in the process of learning how to manage my stops losses and emotions with running trades. On the weekly, i am expecting prices to fill the lower wick. Hence, the current outlook for gold is still bearish, as seen in the charts, yesterday prices broke the support at 1695 region and...

waynelek Updated 

Hi traders, it's been long since my last post. Over the past few weeks i have been speculating the gold market. On a technical basis, there is a bearish wedge forming, and just last night my sell limit at 1710 got activated. I took the 2nd attempt at shorting @ 1707 when there was a short retrace prior to Asian open. Overall outlook is that gold will minimally...

waynelek Updated 

Good evening traders, it's been long since my last post. A quick look at gold, we can see that it is approaching 1H resistance formed on the first feb. I am expecting a fall to the previous high at 1576.

waynelek Updated 

Good evening traders, my previous idea played out smoothly. Indeed price had trouble breaking 1515 region, coupled with trade war news being optimistic gold melted. It can be viewed here : Now that the news have tone down a little, let us take a look at the charts once again. Prices has since made a drastic drop from 1515 to 1460, potentially forming a double...

waynelek Updated 

XAUUSD has just rejected resistance for the 3rd time @ $1516.5 area. Current outlook is for gold to push higher until BREXIT deadline is confirmed. Fundamentals is ruling gold now, be safe traders.

waynelek

A deal has been confirmed however the deadline is pushed back yet again. Hence overall postulation is bullish. October - November should be months of consolidation. Conservative trader should only look to long at support Aggressive traders can look to scalp the markets as the range is pretty big at 400 pips. stay safe traders

waynelek

Judging from the weekly/daily and 4H time frames, Gold is still very bullish due to US-China trade tensions. Scenario 1: Should Mr Trump choose to continue with the tariffs, I am expecting prices to do a pullback to the major support at 1430 before continuing the bull run all the way to $1550 Scenario 2: If a trade deal can be concluded, it will automatically...

waynelek Updated 

Price have reached strong support @ 1400 and closed above it, with a slight push from ISM , Gold should be able to meet 1416 tomorrow for a short scalp. Overall, gold is still bearish and key support level is at 1386