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Retest-structure

USDCHF Looking for a PullbackAfter the long consolidation period within the symmetrical triangle, USDCHF finally decided to break below and we will be looking to retest the ascending trendline. Looking for a pullback on the 0.618 Fib level in correspondence to the previous support now acting as resistance. The three TA elements outlined together create this zone of confluence in which we could consider opening a short swing trading position. This is NOT a financial advice, trade at your own risk!
Short
by Proszi
1
Trading within Channel | Long & Short SetupsGold currently finds itself trending within a respectable descending parallel channel. We could experience a price bounce from the approachable support area outlined in green - forming another LL on the lower descending trendline. This could potentially result in a long opportunity, which could go up until the previous resistance line in correspondence to the higher descending trendline of the channel. If this happens to be the case, the 0.618 Fib retracement area (outlining perfectly in confluence with the resistance and the higher trendline roof) could result in presenting itself with a short opportunity - ultimately allowing the descending channel to continue in its trend downwards until a breakout! This is NOT a financial advice, trade at your own risk!
OANDA:XAUUSDShort
by Proszi
GBPUSD short, retest of keylevel resistance. 1.618 fib extenstioGBPUSD has formed a double top for the last few weeks, which is a bearish sign. A weakness of the Bullish trend. It broke the 1.2200 Support Area and bounced off around the 1.2100 area. Currently, the cable/GU will retest the 1.2200 as a resistance, and might break it as well as the bearish trendline. If it breaks both the trendline and the resistance, Idea is scrapped. And out of the trade. For now I'm gonna look for short in GU and wait for more candle confirmation and rejection at the resistance, such as a bearish engulfing candle. And a probable Take profit area is around 1.1900 which also is the 1.618 fibonacci extension.
Short
by Jimbololoy
GOLD: Eliot wave analysis on triangle pattern & retest strategyGOLD: Eliot wave analysis on triangle pattern & retest strategy Here is another strong and clear confirmation for GOLD Long. Technical indicators are more in the upward side after the rejection after retesting the uptrend of the local triangle pattern (It is a reccurence over the hole week as u see in the chart, and that reflects the buyers intention...) SHORT-term analysis (1H time-frame) : GOLD seems to be ranging in the area of 1693 and 1698 waiting for volume to go up very horribly (That is always realized in the morning from 6AM GMT to 16PM GMT) First Target: 1710 , once this résistance is broke the next level is 1720.
TVC:GOLDLong
by MarjaniFX
4
GOLD long breakout: retesting the local triangle (Short-term)GOLD /USD Long position after confluence, Triangle breakoutPullback: retesting the local triangle upside: Short-term analysis - GOLD Long position: Confluence rejection: Breakout & Retesting the global Trend-line (99%) As we can realize that GOLD had succeded to breakout the globale triangle pattern after many rejections at the weekly upside of the triangle, it was expected to retest thatTrend what contains now (and before) many pending orders ... to continue at the upside till the 1721 zone and then to the 1736 and so on. ** GOLD has proved now that it have more liquidity to go up for 1736 and the monthly globale UPRANGE! **Instructions: - Always wait for a reversal signal or confirmation before take any trade. - This is an idea to help you make a decision.
TVC:GOLDLong
by MarjaniFX
7