Gold is approaching strong resistance zoneSince the reversal from 1680 support Gold has risen 1k pips and now is approaching very strong resistance.
Looking at the chart we can see that this resistance kept the price elevated for the first 6 months of 2022, till the break under at the beginning of July.
Considering the rocket rise and the 5 consecutive green days so far, a correction is very probable.
Sell rallies in that resistance can be a good strategy with a great R: R if we target the 1740-1745 support zone.
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ICX BREAKOUT HAPPEN ON 1 DAY TIME FRAME ICX ANALYSIS FOR SCALP AND SWING TRADE
ICX breakout happen from a long term bearish trend at 0.37 faced rejection at 0.42 and drops till 0.235 but didn`t close a single candle below that breakout trendline , icx confirm its bottom by making tripple bottom pattern and price was moving in Rectangle with LH pattern and now breakout happen from tripple bottom pattern and rectangle pattern Breakout will confirm on 4h candle closing above 0.35 now icx getting rejection from 0.347 and testing its breakout support area which is on 0.32 for spot do some buying on following areas 0.32 - 0.3 with expected targets 0.35 - 0.366 - 0.379 and 0.4 for future swing you can go with 8% of your portfolio by picking it with 4% portfolio on 0.32 range and 4% on 0.3 and targets will remain same for scalp follow the indicator 5min time frame and 15min time frame for picking it from the mentioned supports 0.32 and 0.30 and use the same strategy 5% portfolio and 20x lev and start booking your profit between 20% to 100% on 20x lev . for future swing and scalp only pick it after confirmation of indicator for spot pick on mention areas for short term with 15% to 25% target
Silver to drop from resistanceSince 27 top made in March, the trend for Silver is clearly down, with the price dropping around 40%.
However, after a few days of consolidation in the 18 support zone, the price reversed and had a very good last week
Now the price is facing a very important resistance zone and a drop from this level could follow
I'm bearish as long as the price is trading under this level
I win THESE setups 80% of the time. (Short) (HORIZON)Another breakout pattern happening on the chart, amidst speculation about the Fed raising interest rates. The swing high we saw today, Is most likely at an end, New York just closed and price peaked at a resistance / supply level. Generally speaking, higher US interest rates mean "stronger" Dollar in Forex. When paired with the struggling Euro, it most likely indicates that a bearish trend is going to continue long term. That doesn't really matter as much in the grand scheme of this trade, because it's not unlikely that this fan pattern will end after price regresses back to the mean, the reason that I mention the fundamental aspects is that this might be a good long term short opportunity, given the current market conditions. AND upswing we saw today could be evidence of institutional traders taking advantage of this news to eliminate competitors and create even better short's for themselves. The long move today, on the back of this economic news, could be taken, in a way, as confirmation of the move to the downside long term. However, I never trade news on its own, so take that however you'd like.
If you aren't familiar already, I've been developing an EURUSD specific algorithm called " Horizon " that's been performing consistently well on the 5 and 10 minute period. The higher resolution (lower time frame) helps the algorithm find high quality setups, but also reduces the trade history of this strategy. Every week new trades are added, and old trades are removed. On the 10 minute, the total trade history is just 3 months (40-50 trades). In that three months this strategy has averaged 140%-170% ROI, 58%-69% Win Rate, 3-4:1 RR, and 7-9% Max drawback, using 1.7% of equity per trade.
Horizon has now completed 4 live trades to date, of which it won 3, and has taken around 80 pips net. Horizon has also entered a short position in confluence with the fundamental indicators I mentioned earlier. This is the 5th trade of the forward test of this algorithm, and I like this trade not just because the bot said so, but because I think the long term trend agrees, and the breakout pattern I keep posting about is also at play here. (see below)
Best place to sell NAS100!Hello everyone,
Happy new week. Looking at NAS100 we see that it got rejected at around 12596 fulfilling my previous prediction. It also formed a double top which may suggest that bulls are struggling to push price further up. I would like to see price push up to 12500-12540 to look for selling opportunities. I anticipate NAS100 to fall to 11929.
I will set my targets as follow:
Target 1: 12260.88
Target 2: 11929.14
Stop loss: 12710.59
Do you think NAS100 will fall or rise? Please share your thoughts in the comments. If you have any questions do ask me in the comment section, I will be glad to respond.
Do not forget to show your support with likes. I will highly appreciate it.
Previous Idea
100 pip gap just above us! When support finally broke @ 1.035-1.04 the Euro nose dived harder than an Al Qaeda pilot. I think its safe to say that structure has broken since then, and it looks like we could see that gap in resistance targeted this week. Horizon , my automated strategy, is currently in long as well. That gap needs filling, and I'm going to be the one to do it 🦸😎💪. Good luck this week!
TRADE OF THE WEEK | Classic Trend-Following Trading 💰
Hey traders,
I told you many times that Gold is bearish and that bearish continuation is highly probable.
Following this analysis, I managed to catch a nice trend-following trade this week:
after a sharp bearish movement, the price started no consolidate within a horizontal trading range.
The price broke and closed below its support then.
Shorting on a retest, I caught 540 pips of a pure profit.
Great winner!
Did you catch it?
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
Gold could continue its correctionAs I correctly predicted and said yesterday, Gold has reversed from 1680 support.
The reversal was strong and Gold managed to break above 1700 important figure gaining 400 pips from bottom to the top.
At this moment we can assist with a retracement of this first leg up followed by a new leg of correction
I'm bullish as long as the price stays above 1700 and expect a rise to 1745-1750 zone resistance.
Buy dips is my strategy with negation under yesterday's low
NzdUsd to resume its down trendIn the past two weeks, NzdUsd has risen from the recent low at 0.6060 to a high just under 0.63. This, however, is only a correction to the major overall downtrend and the pair looks ready to resume its down move.
0.62 zone is confluence support given by horizontal and rising short-term trend line levels, and a break under would confirm my outlook.
I'm looking to sell this pair on confirmation with a 0.6 zone target
AUDNZD: Short Signal Explained 🇦🇺🇳🇿
AUDNZD is trading within a wide horizontal trading range on a daily.
The price reached its upper boundary yesterday.
Testing the resistance of the range, the price formed a head and shoulders pattern on that
and broke its neckline then.
I am planning to short AUDNZD with stop loss - 1.11075 and target 1.1.
Good luck!
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
Gold- Correction could followIf you've read my analyzes in the past month, you know that I've been strongly bearish on Gold since it has broken under the 1800 figure, and my only recommendation was to sell rallies.
However, now the price is approaching very important support and a correction could follow.
In the short term, buying in this support, although highly speculative, can be a good idea with a great R: R if we target 1725 resistance.
Long-term bulls, though, should keep 3 things in mind:
1. The long-term ascending trend line is broken to the downside
2. The drop from above 2k is in 5 waves ( impulsive)
3. A break under 1680 support would put a large double top in play
Best of luck!
Mihai Iacob
GBPJPY long from support levelThe price perfectly fulfills my last idea and it is testing support zone 165.150 .I expect the price goes to resistance level since trend is bullish . My goal is 166.700.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻