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The GOLDEN Arc | Long if ranging, short if trendingSome people may call me obsessed over this rare, precious metal - I like to think of myself as a modern-day GoldRusher. XAUUSD is currently ranging, perhaps because of political uncertainty, perhaps because it's just the way GOLD works. Not taking into consideration the fundamental side of the market, I would tell everyone to go long on XAUUSD right now and ride it up to 1360.00. Forex doesn't work like that, however. We've seen promising reports from the US DOLLAR recently suggesting that it's going to gain strength, grow legs and run away with all other currencies. We're also expecting a speech from Trump later today. Factoring in all of the above, it's almost impossible to say for sure whether XAUUSD will break below the support line, out of the range and into a trend or simply just carry on upwards, and downwards, and upwards, and downwards. Watch this space for a closer look into the XAUUSD graph later today.
FX:XAUUSD
by Chris4XTrading
The South African Rand - An African TeacupUSDZAR goes bullish towards the median line between the previous resistance and support (around the 13.00000 region) . Scenario 1: The momentum is enough to carry the US DOLLAR upwards to the next Fibonacci line around the 13.45000 region, 7000+ pips upwards. Scenario 2: The DOLLAR does not have sufficient strength to break through the median line and instead falls back down, completing the historical "teacup". See my previous USDZAR idea here:
Long
by Chris4XTrading
GBPJPY (long-term) | More reasons to short than to longThe currency pair is currently ranging in a trend, however the bearish trend seems to be becoming more powerful. Long-term and short-term Fibonacci lines confirm the possible movement of 9000-11000 pips downwards to the 135.00 region, whilst profits can be taken at intersecting Fib lines. Alternatively , the currency pair could continue to range, reach the 100% intra-day Fibonacci level @ the 158.00 region AND THEN sell downwards.
Short
by Chris4XTrading
AUDCAD / 1HR / POTENTIAL GARTLEY PATTERNHere is a Gartley Pattern @AUDCAD Gartley PATTERN PAIR: @AUDCAD TIME-FRAME: 1HR TRADE: GARTLEY PATTERN Waiting for a Long opportunity on the @AUDCAD 1 Hour time frame. Hit that like button, please share and comment away before you leave! Click "Like" if you find the information usefull. Click follow if you want to stay updated with my ideas. Gartley PATTERN ; Once you identify your anchor leg draw your fib retracement from your X leg to your A leg. Your B leg should touch the .618 retracement but should not close below the .786. Now that you have your B leg draw a fib retracment from A to B. Your C leg should touch the 0.618 but should not close above the A. Finally draw a fib extension from A to B and back in. Your D leg should come in at the 1.272. For the Gartlye Pattern, draw your targets from A to D. Your targets should be at the .382 and the .618. At here I put my stops at least 1:1 with first target. Also, once you hit target 1, roll your stops to break even. Once you do that you are in a risk free trade. That's all there is to it. DISCLAIMER: Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
Long
by FxCanli
EURAUD / 1HR / GARTLEY PATTERNHere is a Gartley Pattern AT EURAUD Gartley PATTERN PAIR: EURAUD TIME-FRAME: 1HR TRADE: GARTLEY PATTERN Waiting for a LONG opportunity on the EURAUD 1 Hour time frame. Hit that like button, please share and comment away before you leave! Click "Like" if you find the information usefull. Click follow if you want to stay updated with my ideas. Gartley PATTERN ; Once you identify your anchor leg draw your fib retracement from your X leg to your A leg. Your B leg should touch the .618 retracement but should not close below the .786. Now that you have your B leg draw a fib retracment from A to B. Your C leg should touch the 0.618 but should not close above the A. Finally draw a fib extension from A to B and back in. Your D leg should come in at the 1.272. For the Gartlye Pattern, draw your targets from A to D. Your targets should be at the .382 and the .618. At here I put my stops at least 1:1 with first target. Also, once you hit target 1, roll your stops to break even. Once you do that you are in a risk free trade. That's all there is to it. DISCLAIMER: Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
by FxCanli
AUDUSD / 1HR / BAT PATTERN / SHORT OPPORTUNITYHere is a BAT Pattern at AUDUSD BAT PATTERN PAIR: AUDUSD TIME-FRAME: 1HR TRADE: BAT PATTERN Waiting for a SHORT opportunity on the AUDUSD 1 Hour time frame. Hit that like button, please share and comment away before you leave! Click "Like" if you find the information usefull. Click follow if you want to stay updated with my ideas. BAT PATTERN ; Once you identify your anchor leg draw your fib retracement from your X leg to your A leg. Your B leg should touch the .50 retracement but should not touch the .618. Now that you have your B leg, draw a fib retracment from A to B. Your C leg should touch the 0.382 but should not touch the A. Now that you have your B leg draw, a fib retracement from X to A Finally draw a fib extension from A to B and back in. Your D leg should come in at the 0.886 For the Bat Pattern, draw your targets from A to D. Your targets should be at the .382 and the .618. At here I put my stops at least 1:1 with first target. Also, once you hit target 1, roll your stops to break even. Once you do that you are in a risk free trade. That's all there is to it. DISCLAIMER: Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
Short
by FxCanli
AUDJPY / 1HR 7 POTENTIAL BAT PATTERNHere is a BAT Pattern @AUDJPY BAT PATTERN PAIR: @AUDJPY TIME-FRAME: 1HR TRADE: BAT PATTERN Waiting for a short opportunity on the @AUDJPY 1 Hour time frame. Hit that like button, please share and comment away before you leave! Click "Like" if you find the information usefull. Click follow if you want to stay updated with my ideas. BAT PATTERN ; Once you identify your anchor leg draw your fib retracement from your X leg to your A leg. Your B leg should touch the .50 retracement but should not touch the .618. Now that you have your B leg, draw a fib retracment from A to B. Your C leg should touch the 0.382 but should not touch the A. Now that you have your B leg draw, a fib retracement from X to A Finally draw a fib extension from A to B and back in. Your D leg should come in at the 0.886 For the Bat Pattern, draw your targets from A to D. Your targets should be at the .382 and the .618. At here I put my stops at least 1:1 with first target. Also, once you hit target 1, roll your stops to break even. Once you do that you are in a risk free trade. That's all there is to it. DISCLAIMER: Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
Short
by FxCanli