Gold reached an all-time high earlier this week as it cleared the $1,750 level. It was able to reach bids at $1,765 before the US trading station started for the week. However, this rally was not sustainable as Risk on prevailed as Moderna reported positive data on early-stage coronavirus vaccine trial. Gold retracted back down to $1,725 today as Risk on...
Beautiful setup here, as price has made a 3rd rebound of the ascending trendline making a series of higher highs & lows. Price has broken out of the 8700 region, along with the counter trendline as well. This upcoming week I am anticipating price to make its way higher for a new potential higher high next.
CURRENCYCOM:US30 price = 28810 TP 1 = 27000 TP 2 = 25000 SL = 29100 1. see important trendlines drawn 2. see price action around Ichimoku Cloud on 1H timeframe getting another position on for the long haul -- see my other idea for longer term. also please like my ideas so I can start messaging in chat room. Thanks. I'm full time trader, strategy...
Are we going to get better price to join bears? It seems the market has turned into risk-on mode, so the prices of such instruments as gold, silver and japanese yen are weakening against US dollar. Let's try to realize silver, selling it now doesn't provide as good R:R as if from the 17.9-18.2 price zone. Take profit level could be around 17.2. // Follow me to...
If someone still believes in risk-on presence on the market, EURJPY might provide good opportunity for realizing it. Shorting from 121.8 with first target around 121 and stop above 122.1 provides decent R:R. // Follow me to stay updated with my ideas!)
The pair is back to the strong resistance level. Great opportunity for long and short trade. A the moment we are still risk on, but watching the news because any event could switch it. Looking for potential reverse patterns forming here, or trade a long break of resistance. A lot depends on the non-farm data today as well. Good Luck!
With the markets going increasingly risk-on, any bullish price movement in gold is suspect. So far this year it's had a strong rally out of that accumulation zone, but soon we should see whether it was a simple fakeout or a continuation move to new highs. Gold is still at risk of giving back all gains received in Q3 2018 if he fails this range completely....
Follow the well defined channel. also, the break above 0.70 this week is proving to be a shooting star (bearish) Trade war agreement will take time and therefore AUD will suffer along with risk. Sell now to retest 0.6860...
AUDJPY Timeframe: 1D Direction: Long Confluences for Trade: - Price action bouncing off Support of Parallel Channel - Stochastic Oversold momentum (D1 and W1) - Wide gap between EMAs - Price action created a double bottom around Parallel Channel support line - Fundamentally, there is positivity in sentiment moving into the coming 2019 which will see a...
Price sitting at strong weekly support creating a higher low, where a reversal back to the upside can be anticipated this week to create a new higher high & continue the uptrend. However a break below structure support can invalidate the trend & move price back lower. The blue zone is the support level of interest for this pair.. Free week trial for the new...
Though id post as just one example, perhaps the most obvious, that shows how heavily the JPY is considered a risk-off asset and to show the clearly, since the SPX is a risk-on asset, that the JPY is negatively correlated with the SPX. In times of market fear/ uncertainty, YEN is sought out, just like bonds and gold, as a safe heaven asset. The theory behind this...
Finally Gold completes the market risk-off 3 for rallying... we not have JPY, BONDS and GOLD all rallying - this completes the set of 3 -riskoff indicators, we are now in full bear mode for stock markets imo.. as you can tell from the US Treasuries and JPY, these riskoff assets have been gaining value for some time, gold has been lagging behind but today...