IDEA 1 for GU shorts you have the Head and shoulders forming, 3rd touch TL, Fib level
Recent PA just made Inverse H&S and at a very key monthly area as resistance so could be great for the beginning of the move for longs.
The bigger picture at a very big monthly key level - already had weekly rejections but if breaks could be a big move either way. Just need to find more confluences to back my trade
Think miss the initial sell on the break and retest. However, there is currently a bullish pattern forming consisting of HH LH so I will see how it respects that bullish TL because if not will look to re-enter the Daily Res again as a double top will have formed.
Price rejected a key monthly area and hasn't broke this area since 2016 (brexit). Idea is for sells but think initial sell I missed on the weekly res
Think the initial buy was missed on that right shoulder for the inverted H&S. Entry could be on the break of res but don't think fundamentals will allow it.
Monthly Key Area - 13500 - 14000. This pair to me is in consolidation double top formed on daily so last chance for buys is the weekly support. If the support breaks enter on the retest of it and target towards 1.1000 area.
Think once again DXY to be bullish but again all comes down to Ukraine/Russia. War talk will continue to hike the value of the dollar up. DXY managed to break 97 from when this war talks really started but don't see 97 breaking again unless war is confirmed. That being said I do see the DXY to at least be bullish until hits that weekly res 96.700 and then will...
No trade for me more of a waiting game until we break them key S/R. If that weekly Support breaks then entry on retest as there is no valid reason for buys then with Support breaking, TL breaking and no respect of 61.8. But if we bounce of 61.8 then would wait for break and retest of the daily res zone to break them LH and form some bullish structure....
DXY over the last 6 months been on a very bullish run. From a technical viewpoint, it's currently hit a Weekly/Daily Res and has begun to retrace. I think this week it will be a risk on and could see DXY retrace to Daily Support and Fib Level at around 95.00. But this is only a technical viewpoint and news could very much change the outcome of the \dxy
My zones for Gold Scalps as the week starts will drop down to 30m and refine zones but my general area of interests
From the 1st of June, we started a clear downtrend of LL and LH. This week just broke my previously weekly support. The idea I have is on the Daily I like the swing retracement to 61.8 zones to create a new HL. However, on the 4HR swing, I have another area of interest on the retest of that broken weekly support which also lines up with a few confluences
EG - From December 2020 there has been a huge bearish downtrend until April 6th and price began to consolidate with price bouncing between 84500 and 86500 but recently the bearish price action has continued. On October 22nd we created a LL which then led to an LH on 5th Nov and finally creating a new low on the 23rd of November. My Idea is with the trend...
Huge Bearish Downtrend on EUR USD since June. After a 500 pip drop the last month, I think this pair is due quite a retracement. Daily Resistance on the 1.37000 but with that daily bullish volume on Friday I would be surprised if it held. I'm looking more towards a sell on 1.50000 with that 61.8 and 3rd touch TL down towards 1.20000
This is the scalp zones for the week. My zones for sells think there a lot of mess there
61.8 , 3rd Touch, middle of res. Works with fundamentals also