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Fore

GBPUSD at market bat pattern GBPUSD has formed a bat pattern on the 15min timeframe. I see the bat pattern traded many different ways. Some like that priceaction at the C leg can't close above the .886 retracement of A-B move. Some think that as long B-C is under A, then the pattern is valid. Some only trade batpatterns in stocks, some only in forex. There is no 100% right way to trade it. Therefore you will need to backtest this pattern - and other patterns, for yourself before trading them. I wish you all a happy trading week!
Long
by RandomDane
Buy Signal within Gold soonWe should have a fantastic opportunity to buy gold down at 1315 next week. It appears very likely that we'll be retesting key resistance that is now support (2015 high @ 1307) with our last quarterly closing above that. Watch for deceleration and a rejection of the 50/60 ema, bottom of bullish penant, and 1307-1315.10 area. This should coincide with an oversold RSI. Based on Martin Armstrong's Socrates model, if we close below 1315.10 on the daily we could see a move down to 1270. That line must hold for us to buy. Trade Management: To head higher long term we must close above 1362. This is a KEY monthly reversal level and will determine whether we make new highs or new lows. The next target is a close above the weekly reversal around the 1391.5 area. I will hold this for the next year or two, continuing to scale in on pullbacks until the dollar bottoms out late 2017 into 2018.
FX_IDC:XAUUSDLong
by patrick186
ONE TO WATCH EURCHFSince January 2015 the EURCHF has been in a somewhat dormant bullish trend, with some dips and sideways movement, however there hasn't really been a sign of a definitive trend. We had some potential signs of a bullish trend in July 2015 with a breakout of the range (highlighted by the rectangle to the left. We had a re-test of the range and then a further move signifying a potential long move. Unfortunately price touched the 1.09800 area (highlighted by the 2nd blue line) and could not break it, creating a sideways market. Now recently we have just seen a breakout from the range again and hopefully we can get a breakout of the 1.09800 area and a clear close on the WEEKLY time frame confirming the breakout and new highs. If this happens I would seriously consider monitoring price action around the small rectangle to take this position LONG as previous structure is considerably above at 1.20000. LETS KEEP AN EYE ON THIS ONE
by JKibbler