Short gold opportunity next few hours.Opportunity for a short term retrace over the next couple of hours. Possible Itchimoku breakout set to occur shortly. Keep stops tight and be prepared to take profits if trend reverses.
Hour
EU ShortPotential Major Trend Reversal.
1. Bull Trend
2. Test of Moving Averages (20 & 60)
3. Lower High formed
4. Decent Selling Pressure (Consecutive Bear Bars, seen visually, compared to previous Bull Bars)
5. Fairly 50/50 if it will break up or down, but I take the trade because my profit target is potentially 2 x's my initial risk, 1x.
USDCAD - LONG - ENTRY 1.36166USDCAD marked itself upwards from a trading range. An uptrend has been comfirmed with 3 valid toches, and i am ready to long when it break 1.36166 and 1.35549 holds as a support.
AUDUSD - short term bias - 4hrAfter 52 days of consecutive downside action from the most recent high (daily) , is this now time to go LONG and back the bulls?, here on the 4 hour chart we have a nice double bottom play out and i believe we are heading back up to retest the 38.2 retracement. in confluence with this particular FIB retracement on the 6th of july we located a minor area of support and we respectively held that level until the following day breaking straight through it, now from this point we had a minor fall in the next few days and went on to retest the support as resistance on the 10th of july and again on the 15th, indeed failing!. As we continue this week keep an eye on this level as we could break the resistance heading higher to the 61.8 or infact be a perfect entry for a sell order.
Happy Pippin
GBPUSD 4H Breakout triggering for potential 175pips.After a stacked engulfing bull bar, price looking to breakout after 2 perfect consolidation bars.Triggering @ 1.6276. Looks clear to 1.6450 for ~ 175pips with stop at 1.6235 for ~40pips risk.
