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Rejection

Gold Sell SetupGOLD is now sitting around the 1900.0 green round number so we are waiting for a break below the lower red trendline last swing to sell. Our red trendline is valid, but it would be better if the price forms a new blue dot (swing) around it so that our stop loss would be smaller. Until the sell is activated we would be overall bullish, and Gold can still test the upper blue trendline and blue supply zone before going down. In this case, we will be looking for a new sell setup to form around it. When the sell is activated, our stop loss would be above the last red dot (swing high). And we always target double our stop loss size. Good Luck!
OANDA:XAUUSDShort
by TheSignalyst
GBPUSD - Short trading idea GBPUSD recently went through a positive short-term period, with the price taking nearly 300 pips from its low at 1.2675. Despite that, the bigger picture shows a trend that is still down: From a technical point of view, we have a sustained downtrend line that seems to hold the pressure of buyers. Last touch of that downtrend line was followed by a huge bearish candle, pushing the price down by 70 pips in 20 minutes. Sellers are still on the market. There is a possible formation of a pennant, with a short-term uptrend line at the bottom (highlighted in red in the chart), so we will double-check market action if and when the price reaches that level. Putting this trade on a larger context, GBP might face a tough period, with the UK that is struggling to handle a very difficult situation related to the coronavirus. Yesterday, Prime Minister Boris Johnson stated that this the UK is at 'critical moment' with coronavirus. For the first time, daily cases in UK broke the barrier of 7,000, reaching a new critical level at 7,143. With more news coming today and the Nonfarm Payrolls for the USD coming tomorrow, we can expect good volatility, so be careful and manage your risk properly. You can follow this trade real time on my account in the Swing Trading course on Udemy . Good luck!
Short
by FedericoSellitti