Bulls HnS's Prec.Metals below. Plz-read-Friday Gold Commentary!
There are some bullish Head 'n' Shoulders patterns today in Precious Metals.
1st up see charts for Palladium XPDUSD. This is a bullish H & S's on multiple timeframes. 5m played out earlier in Asian session but we still have setups on the 1HR, 2HR and 4HR charts.
If Mr Powell gives the market the boost and shot-in-the-arm that I think he will today because I am guessing he has been a bit on edge lately like a trader who just lost 30k in a day. I am hopeful we will get a good run today Long in precious metals. Mr Powell speaks at 10am Eastern USA & Canada.
Be aware that some of these setups have already retested and others have not, but I will do my best to guide you through it with an alert if Entry becomes noticeable to me in the charts later. This is of course if you are a newer trader. I know most of you are experienced.
2HR
GBPAUD I Headed down in the short term Welcome back! Let me know your thoughts in the comments!
** GBPAUD Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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ADA ATH and now?We are 78% in profit since I published the first ADA chart on Aug.08. You can find a link to that idea below. ADA broke ATH and now we could see on 2hr chart that volume is decreasing which is an indicator that this move losing momentum, RSI going down, and looks like it wants to break down from this trendline formed. So maybe we could see some correction. The market is crazy about ADA and I don't expect it to be very deep. The expected target could be the previous high at 2,1979, if we break down from the previous ATH level... If break up from this ascending channel, we could see some parabolic action, but ADA is a big coin and there is a small chance for that... Congrats to my followers and to all that are long in ADA...
GBPJPY - 2H ChartHello Traders,
I have a long position running from 129.300 and my final target is around 130.699 (Daily Key Level).
The price tested the Support and the trendline in the 1H Chart and now stay above the 0.71 Fib Level so my bias for this pair is bullish.
If you agree with the idea please comment, like and follow me on TradingView.
Be patient, Good luck.
GC (GBP/CAD) C&H in 2h TFTVC:BXY TVC:CXY
GC (GBP/CAD) C&H in 2h TF formed cup & handle in 2h tf and less strong indicator for a bullish swing for the next couple of days.
Strength of GBP in my momentum and currency strength EA's and matrix. Since with the play of GJ (GBP/JPY) bull-run week.
Indicators and Oscillators (ema's, atr, ma's, bb, momo stoch and squeeze, vwap indicators & levels, macz-vwap, rsi, cci, demarker, etc.) also shown in daily TF in continuation for bullish move and it's holding through the mtf ema and vwap in my chart at all TF.
RSI case study - Multi time frame analysisOther time frames listed below
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2 hour needs to be bounce here
If it doesnt daily time frame RSI will break down
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Before this we were focused on the 1Hr 50 level, and then the 40 level after the first test of the 50 during this massive up leg
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General note: All higher timeframes are bullish. Stars are aligned but rejection could take place. THus why were are evaluating the strength readings on multiple timeframes.
+200 pips 2 hrs. in GJ Made +200 pips 2 hrs. in GJ (GBP/JPY) with my vwap level setup and entry using cvwap, zvwap and vwap bands
entries at cvwap and waiting to hit the vwap bands os levels for a profit and os levels to long waiting to hit cwap.
Traded with economic calendar release and news quick profits using zvwap for trend confirmation and os/ob levels etc.
90% success rate of the setup
BTCUSD resistance levelsHere you see the same fibs on a 2HR chart.
The moving averages have moved with the price. The moving average is now based on 2HR candles instead of the daily candles in the previous chart.
This means the averages now show a cycle based on the 2HR and you can see the similar movement of the MA's with the daily chart. ( see our chapter market cycles)
On this timeframe, the 55MA is already crossing the 200MA showing a possible short term move up.
Key would be to break resistance area at the 0.236 fib, by break, we mean that we want to see the price stay above it as this would show us the previous resistance has now become support.