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Technicals

Best Way to Trade the Gold SelloffGold has cratered along with the other safe havens. It has careened through the 1900 handle back down to 1800's, currently finding support at 1863, which is a strong technical and Fibonacci level. It appears to have completed the 5-3 Elliott Wave. Observe that even with this correction, gold can still be considered in a 'bull phase'. Especially considering the bounce it had off 1863. Current levels may make a good entry point for a long trade. We are right at 1941 at the moment, which is another technical and fibonacci level. A narrow stop would be good risk management. The next level above is 1975, but below we have a vacuum zone to 1906. The Kovach OBV has taken a nosedive, registering the selling momentum. It does appear to be turning, along with the Kovach Chande, suggesting that this bear phase may be ending, or at least coming up for air.
COMEX:GC1!Long
by quantguy
EURNZD LONG (POSITION TRADE) 2K+ PIPSDear Traders The trade idea is position trade of holding it long term followed by confluences to support my set up with Risk Management of 1-2% risk. 1. 16th March 2020 is where Weekly Candlestick hitting all time high for Euro/NZD at 1.99271 2. Price immediately was reversed by a downtrend of price retracing back towards monthly support: 1.7100, however the end meets and price reversed with a morning star pattern at 1.7200 3. Price remain bullish after breakout, i am waiting for a retest/pullback to be found near daily level: 1.7625 for price to continue impulsive phase. 4. NZD was one of the first economy to recover the pandemic levels along with other asian currencies, however Euro/Usd, Eur/Jpy has recovered well the pandemic levels. 5. EURNZD is a slow pair but the idea is worth the risk and with the confluences, i am taking this trade with 1:14% risk to reward ratio set up However i am waiting for final confluences before this trade lift off, currently BUY LIMIT ORDER is set. Risk: 164 pips Reward: 2310 pips
Long
by kevinbilalfx
2
FTSE100 Could be on move soon...!FTSE100 UK. It could be on move soon! How? Well past that key trend-line down in red, bullish flag formation as well if goes above out of the range it has been stuck in - the bulls are in control target within the next resistance key areas. However, if bears get in control, below the key trend-line out of range down next target near retracement fib levels which match support and resistance areas. Clean trade idea, put alerts or orders in to make it easier. Remember: Just a trade idea, not a recommendation.
OANDA:UK100GBP
by Trade_Journal
EURGBP: Rejecting .91500!Daily Time Frame: Starting on the higher time frames we can see price is creating a double top formation at .91500 key weekly zone with signs of wick rejection. 4hr Time Frame: Scaling down we can see that price is testing 4hr support. If price manages to hold below .91500 look for shorts down to .88500. However, if price manages to break and close above, we can potentially see longs to .93000 key resistance. Due to the uncertainty of market fluidity, risk management is highly recommended.
by ChartAddicts
AUDJPY: Testing 75.000!Daily Time Frame: Starting on the higher time frames we can see signs of rejection at this area of daily resistance right around 75.000 key psychological zone. 4hr Time Frame: Scaling down we can see price creating multiple tops. If price manages to hold below this daily resistance, then look to sell this down to 74.250 and potentially 72.500. However, if price breaks above this zone look for a break and retest with signs of rejection in order to buy this up to 76.500. Due to the uncertainty of market fluidity, risk management is highly recommended.
Short
by ChartAddicts
2
EURUSD FUNDAMENTAL AND TECHNICAL IDEAGood Day Everyone Here's an idea on the EURUSD pair, as we've seen the EURO making major recoveries in the last cople of week the pair is in a uptrend which most signals point to it continuing as we go in on the pair.. The EURO has been strong against most major counterparts in the previous weeks in which global sentiments and the counter currency flow where the main drivers. . . > With the European Central Bank (ECB) we saw some short-term buying for the EURO on Thursday. > As i had mentioned the EURO has had some strong gains as we saw it hit 3 months high on Friday against the dollar after the European Central Bank (ECB) expanded its stimulus programme > INVEST.COM - Head Of Mizuho Bank Peter Chatwell " The EURO will keep rallying and more towards $1.20 ,adding that ECB ha " dramatically" supported the EURO by reducing tail risk . . - The dollar was modestly higher on Friday after data showed the U.S. labor market unexpectedly improved in May, but the currency ended the week lower, for a third consecutive week, as uncertainty about the U.S. economy capped gains. INVEST.COM - The Labor Department's employment report showed the jobless rate fell to 13.3% last month from 14.7% in April, which was a post-World War Two high. It came on the heel of surveys showing consumer confidence, manufacturing and services industries stabilizing. Economic conditions have significantly improved as businesses have begun to reopen after shuttering in mid-March to slow the spread of COVID-19. U.S. dollar index =USD late Friday was up 0.18% to 96.93. It was down 1.4% from last Friday's close. On the day, the dollar was 0.38% stronger against the euro EUR= , at $1.129. Against the safe-haven Japanese yen JPY= , the dollar was up 0.44% to 109.61 yen. "Today you've seen better-than-expected economic data coming out of the U.S. in terms of the jobs numbers," said Chuck Tomes, portfolio manager at Manulife Asset Management. "The reaction on the back of that has been expectations of better growth coming out of the U.S. as well as a steepening yield curve, both of which have provided a lift to the dollar." The uncertainties about the economic outlook and the possibilities of a second wave of infections had capped the greenback's gains, Tomes added. Some analysts said the May job gains in might not soon be repeated. za.investing.com . . . We are curretly just above level 1.12754 wich was our resistance level now support the pair pushed through this level came down for a retest possibly signalling continuation to the upside so looking for long entries in the pair... Target 1 - 1.13902 Target 2 - 1.14984 SL & ENTRY - FOLLOW YOUR RULES RISK-MANAGEMENT PERIOD - SWING
Long
by PULEMokhothu
EURCHF FUNDAMENTAL AND TECHNICAL IDEAGood day everyone Here's an idea on the EURCHF pair, The EURO has been strong against most major counterparts in the previous weeks in which global sentiments and the counter currency flow where the main drivers. . . > With the European Central Bank (ECB) we saw some short-term buying for the EURO on Thursday. > As i had mentioned the EURO has had some strong gains as we saw it hit 3 months high on Friday against the dollar after the European Central Bank (ECB) expanded its stimulus programme > INVEST.COM - Head Of Mizuho Bank Peter Chatwell " The EURO will keep rallying and more towards $1.20 ,adding that ECB ha " dramatically" supported the EURO by reducing tail risk . . . EURCHF support for the EURO was bolsted on wed when Germany launched a 130 Billion EURO stimulus packaged after last months supporting a European union recovery fund that would bring the bloc closer to a fiscal union , EURCHF hit 5 months high while the European single currency rose to 13 month high against the EURJPY.. . . . We broke resistance level 1.08636 just above 1.618 fib ext level pushed down for a retest of this level now support in the pair possibly signalling continuation to the upside so i will be looking for long entries in the pair... target 1 - 1.09175 target 2 - 1.09664 sl & entry - follow your rules RISK-MANAGEMENT period - swing
Long
by PULEMokhothu
2
NVAX Long - $150 Target?I've been following NVAX since price was at $12. Fundamentally they have one of the most promising COVID vaccines and their Nano Flu shot beat Sanify's flu shot, whos been a market majority holder in that aspect. Technically, we've tapped that $150+ zone 8 out of the last 9 fast rises over since the company IPO'd in 1996. Each of the rises have been driven by pandemic viruses..ie, swine flu, bird flu, H1N1, etc. We have 4 days until the quarterly candle closes. If we close strong, we'd of closed above the coral, and momentum and RSI are correlating. I think we will see a short term sell off at the psychological $100 level. How much? I could see $80-$85 be a good rebuy zone to push price up to t $125 then $150. Buyers at $80, will probably be looking for a double on their investment which would put price at $160. Let me know what you think!
NASDAQ:NVAXLong
by allout06
7
HINDUSTAN UNILEVER LIMITEDHINDUNILVR showcases the onset of the downtrend with the current gap down opening. The stock was in a bullish uptrend followed by a consolidated between a span of two weeks in the 2090-2130 range. The current level (2085-2090) can be termed as both resistance and support because the price is trying to break above it. If price closes above this level as of today, the stock might again go into consolidation. If not, the price can fall to the lower support levels:- SUPPORT LEVEL 1 (2010-2015) SUPPORT LEVEL 2 (1960-1970) If the price falls to these levels, accumulation should be carried out. THANKS P
NSE:HINDUNILVR
by PrateekVerma