XAUUSD: Potential downward movement on GoldIn the past days, we have seen XAUUSD Price create an uptrend channel from 2400 to 2531 thereby making 2531 the ATH on XAUUSD . On H1 time frame, XAUUSD has successfully danced to the tunes of trendline by having 3 close contacts with the trendline.
Should we expect a 4th contact??? 🤔
Price seems to have respected the ATH resistance level
Could this be a reason for a potential downside momentum??
Well if price breaks and retest the trendline, we may see price drop down to 2490 and below.
Kojoforex
GBPJPY Sell Analysis: A potential downside opportunity...The GBPJPY currency pair has been attracting attention recently due to its notable price movements and trends. Traders are eyeing potential opportunities for short positions based on technical and fundamental factors that suggest a bearish bias. This analysis aims to outline the reasons behind considering a sell position on GBPJPY.
A clear bullish trendline has formed on the GBPJPY chart, connecting multiple highs. This pattern indicates a potential continuation of the uptrend.
Recently, price broke out of a uptrend, and formed a double buttom chart pattern. The pair has broken below key support levels, in view of this we expect price to retest the psychological level @184.824 - 184.652
If price successfully retest this level, we may see price push down to 183.600 and below
This is only a Sell Bias NOT a signal, so we suggest you wait for candlestick pattern or chart patterns (on lower timeframe) before taking entries on this setup.
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GBPAUD Sell Opportunity 📉This guy moved in a ascending chanel from 1.81000 - 1.91500. We waited for price to break the ascending chanel so the bears can come in and go short...
Guess what!!! It did!
Now we need a sell confirmation👍 Hmmm price retracement would be a good confirmation. If this guy plays his retracement cards well and respect the immediate resistance level, we could see price push down to 200 pips or more if it does not break and close above the resistance zone📉
GOLD ON FALLlooking towards the daily time frame and the four hour time frame will clearly and no doubt let you know that gold will hit back to 1813.42 dancing and wiggling within 1834.59 to 35 36 37 then any moment from these expect heavy micro fall back to 1821.00 below yeah!
SELL@1836.59
T.P @1825.71
S.L@ 1842.83
XAUUSD to Rise to the TRENDLINE or DECLINE to 1800There is a probability that XAUUSD is going to hit the trendline is been creating making of a big triangle since 2th NOV 2020 i project it could hit the 1855 before declining back to 1800 in respect the maintaining the Triangle. Tho there are two projections but currently the probability of hitting the 1855 is higher since it didn't break the long support from FEB 15th 2021.
WORLDWIDE EURUSD SELL ABOUT TO HAPPENPrice is currently in a descending triangle . There is also a head and shoulder pattern formation underway which confirms a trend change is about to happen. Price is currently on the temporary support level .
Wait for a retest of the downward trendline for your entry or a break of the neckline.Use the fibonacci retracement tool to enter at the 61.8% level.
Never lead the market. Always let the market lead you. Good luck.