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Nonfarmpayroll

EURUSD bullish bat patternEURUSD, much like the GBPUSD idea I Posted recently, after breaking the B point, a potential bat pattern long opportunity is worth planning! Especially when there is non-farm payroll tonight! There are still 140 pips away, but if the volatility is big enough to let it reach the area tonight, I'll be willing to look for potential long opportunity! GBPUSD and even USOIL, I drew similar bullish bat patterns and both bounced before finishing the pattern. And actually, I still did take some intraday inside bars long on both. Harmonic patterns are much more strategies and inside bars are tactics for me, before the mid-term strategy hit the entry area, some daily inside bar trades can still participate in some great intraday trend!
Long
by Trader_Joe_Lee
EURUSD POTENTIAL DOWSIDE TARGETSOn the daily time frame we have a possible 5-Elliot wave formation, with the 5th impulse on a 1.217 extension. Price is currently sitting around the monthly and weekly resistance level (1.200). We can possibly trade the correction wave to the downside on PA confirmation. We have multiple possible trade setups for different strategies and styles of trading. We have our weekly trade and possibly a trade setup that will run between two to four weeks. This is only a trade “IDEA” our trades will be only executed on price action confirmation. If price does break and close above 1.200 and hits our stop loss we can possible see price extend to the 1.618 extension (1.2300); we will also seek further shorts from this level on PA confirmation.
Short
by SERGENAYTUG94
[EUR/USD] Non-Farm Payroll Short Term Pip MovementThe following information is helpful for those who trade binary options or short term spot Forex. Primarily meant for Binary options traders who want to know the volatility of the NFP release for purchasing short term contracts. Pips are not EXACT, as I used the price range tool rather than Open Close on candles. (next time) I do not suggest using this data for 5 minute contracts. Let me know what you think in the comments below or toss on a like! Stay tuned and follow for this Friday's NFP Binary Options Trade, I'll be posting my entry right before!
by Atayeu
Gold Breaches 1220 but Ends the Day BelowGold pushed up past the 1220 resistance level for the 3rd time since the start of the year, only to be met with strong resistance and falling back under 1220 to be within the range from 1182 - 1220. While I am still long, the upper wick on today's candle is not the most encouraging for the bulls. On the bullish side, price is still above the 6, 8 and 21 day moving averages and sandwiched between the 1.0 and 1.5 Bollinger Bands (blue and cyan respectively). The Heikin-Ashi chart below is a little more encouraging with the 3 previous days showing solid green candles without bottom wicks. Tomorrow is NFP at 8:30 am EST. Let's see if that can push price past 1220 once and for all and get this bull moving!
COMEX:GCJ2017Long
by GoldBands
Gold Pushes Up Against a Potential Triple TopGold started the day with a big selloff but then recovered after the FOMC and Janet Yellen announced that they would not be raising interest rates at this time. Gold is now attempting to break out of a potential triple top at $1220. If Gold can break through, then the first target would be 1241.7, the .618 fib extention from the bull run that started at the end of last year. With jobless claims tomorrow at 8:30 am EST and Non Farm Payroll on Friday at 8:30 am EST, there can be some potential big moves coming up for the precious metal. The main chart today is complete with all the indicators that I use. The first chart below is the same but with Japanese Candlesticks, called Heiken Ashi. They are really good for showing trends. As you can see, we are now into day 3 of this uptrend. On this next chart, I've removed most of the chart objects to show only the basic Bollinger Band and Moving Averages. It's clear to see that price has separated from the 6 and 8 day moving averages and has ridden the mid line of the Bollinger Band higher. Feel free to ask any questions or leave comments. I am always interested in having thoughtful discussions on price action to improve all our trading.
COMEX:GCJ2017Long
by GoldBands
NFP - How Will Gold React to Non Farm Payroll?Good Evening Traders! Well, here we are again, Gold trading just above the 1250 mark. Today was a solid day down, with Gold trading 16.7 points off the opening to close at 1253. We have come right to the top of this support area that was last seen on June 24, the day the British approved Brexit, and the day when Gold rallied 108 points in 1 day!. It's amazing isn't it how these cycles play out; 3 and a half months later and we are on the verge of another volatile day, but this time its Non Farm Payroll Friday. As you can see in the chart, we have been riding the extreme edge of the Bollinger Bands. And as we know, this is not a sustainable situation as price will almost always pull back from such extremes. You can also see on the Stoch RSI that the green signal line has final crossed over the magenta line. While this doesn't necessarily mean that the down cycle is over and that price will reverse, it does give us a clue that it might happen soon. And given Non Farm Payroll day, the safest play might be to go to cash and protect your profits. To recap, the 3 main factors to thinking that the pullback might be over are: Price has spent 3 days on the outside edge of the outer Bollinger Band Price is right at the upper edge of a major support zone Stoch RSI signal line has started to cross above the magenta line Following my own advise, I am closing all of my current short position except for 1 contract which will be a runner. With the stop at set at break even, it's a very safe play. Safe Trading and Protect those Profits!
COMEX:GC1!Short
by GoldBands
Today's Doji after Yesterday's Extreme Move Down.Good Evening Traders! Well, after yesterday's explosive move down, it's not surprising that Gold took a pause today. With a total range of 15.3 points, the net down move today was 1.9 points. I did take a new short position early in the morning and I'll get to that later in this post. I'm expecting volatility to come back into the market tomorrow and Friday as there are a couple of big news events. Tomorrow at 4:30 am PST is the ECB Monetary Policy Meeting Accounts. With Brexit on everyone's mind, this will be an interesting event to say the least. This is followed an hour later by the US Initial Jobless Claims report at 5:30 am PST. And then on Friday is our friend, Nonfarm Payrolls, at 5:30 am PST. These events are almost guaranteed to get the markets moving again, perhaps finishing off the downward cycle in Gold. Now on to my trade. As I mentioned yesterday, I was waiting for a good pullback in Gold so I could re-enter and catch another wave to the downside. Using the hourly chart, at 5 am, price came up, penetrated the upper BB and then the next hourly candle failed to take out the high. Also, the Stoch RSI was in overbought territory. While not a picture perfect pullback, with a tight stop, the risk was containable. For my profit target, I am using a weekly chart and the lower BB which is at 1243.50. Hopefully, we'll end the week with some good movement to the downside. Safe Trading and Protect Your Profits. Hourly Chart Weekly Chart
COMEX:GC1!Short
by GoldBands