Dattong
USDCHF(1H): POTENTIAL DOWNTRENDOverview:
The triple top reversal tells us that buyers are getting exhausted or they aren’t aggressive enough to push the price higher of the resistance 1.01000.
Signal/Entry confirmation:
We shall wait for the price to break through the support 1.00500 for a signal and go SHORT after a retest of the zone around our new resistance @ 1.00500.
Speculation:
Potential TP @ 0.99900 (57pips) and SL @ 1.00730 (25pips)
AUDUSD(DAILY): POSSIBLE UPTREND MOMENTUMOverview:
We are presently on all-time major support on 0.70800 (Buyers' Zone) and it appears that price is finding it difficult to breakthrough hence a possible uptrend rally is imminent. This can also be confirmed with the present character of price not willing to continue the downward channel ABCD trend as you can see price not settling in comfortable at 0.67480 (on 3rd of Jan '19) as Buyers were quick to push price up to close @ 0.70050. Following this, we can see price bouncing off the support of the channel EFGH confirming the formation of an upward channel. However, there are two ways to view the price action on this pair. A possible downtrend or uptrend depending on how price relate with Resistance Q (0.71390).
Signal/Entry confirmation:
We shall sell if price rejects the resistance Q @ 0.71510 significantly (i.e. a bearish engulfing candle cutting through the major support @ 0.70800) which doesn't seem likely with the present look of things. However, if price breaks the Resistance Q and the resistance @ 0.71510 simultaneously to the upside with an engulfing bullish candle; we shall wait for a retest on Resistance Q to join the rally up.
Uptrend Speculation:
Potential TP @ 0.75260 (385pips) and SL @ 0.70340 (105pips)
Downtrend Speculation(appears to be unlikely):
Potential TP @ 0.68170 (445pips) and SL @ 0.72240(135pips)
GOLD(DAILY): UPTREND CONTINUATIONOverview:
Price has broken through the flag pattern formation to the upside indicating an uptrend continuation.
The channel EFGH (upward range in green) emphasizes a channel continuation to the upside as well.
Note that price was unable to break the hidden range ABCD the last time it was there (15th May 2018). Now it is back into this range 9 months after with a potential to break it to the upside.
Signal/Entry confirmation:
We wait for a significant break through the major resistance @ 1320.00 for precise entry to join the rally up.
Speculation:
Using Fib Ext at QRS a maximum TP projection falls on 1365 (Fib Ext 1.272).
Potential TP @ 1365.00 (440pips) and SL @ 1303.00 (190pips)
