GOLD - Broken 1745 resistance, buying a re-test Gold is Bullish - We look to Buy at 1745
▪️ Previous resistance level of 1745 broken.
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ A mild correction has been posted from yesterday’s high, this is seen as a retest of the breakout level.
▪️ A bullish reverse Head and Shoulders has formed.
▪️ Further upside is expected although we prefer to set longs at our bespoke support levels at 1745, resulting in improved risk/reward.
▪️ Expect trading to remain mixed and volatile.
Stop: 1731
Target1: 1819
Target2: 1839
Tradesignals
EurGbp Trade Analysis by WAVE FX AcademyHi Traders, here is my analysis for this pair, Comment your thoughts or like if you agree. All feedbacks are welcomed. An entry will be taken only if all rules of my strategy are satisfied. Add pair to your watchlist and see if the rules of your strategy provides an entry.
EURCAD H1 - Short SetupEURCAD H1 - I've adjusted resistance zones to show hourly resistance now rather than H4 resistance, sat around that 1.53 handle. EUR has ripped over recent trade, would be nice to see a correction. No confirmation here, I wouldn't suggest taking a trade until we see some... 1:11 with current projections, so can afford to lose some by waiting for some PA confirmation. H4 close is going to be intense, looks like it may break but H1 still technically intact.
FTSE - Selling a re-test of the broken channel UK100 is Bearish - We look to Sell at 5933
▪️ Broken out of the channel formation to the downside.
▪️ We have a 50% Fibonacci pullback level of 5936 from 6209 to 5665.
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 5933, resulting in improved risk/reward.
▪️ Expect trading to remain mixed and volatile.
Stop: 5983
Target1: 5665
Target2: 5627
BTC: Cyber Ensemble {Premium} predicted the pump and dump..
CYBER ENSEMBLE is a sophisticated signalling script base on the interplay of an ensemble of optimized indicators and market state filters. (>1000 lines of code)
General Note for Users:
As with any indicators (and TA for the matter), it is virtually impossible to achieve 100% hit rate -- be it due to black-swan events, during periods of low liquidity, or simply due to the intrinsic nature of the given market (or the time-span) coupled with the limitation(s) of a given set of studies applied, etc. -- however, which can of course be managed with suitable risk-management system(s) .
I've also developed scripts designed to statistically suggest suitable risk-limit levels as well as expected price ranges over a given period; ideally to be used in conjunction with classical trend-lines, Fibs, etc.:
USDJPYLONG USDJPY
Price is above EMAs and MACD is also approaching and seems to be crossing above 0.
Price is also holding above a short term ascending trendline support.
I will enter on pullbacks and targets are based on key Fibo retracements. Very nice R/R as well!
Please DYODA (Do Your Own Due Analysis)
DAX 30 at Risk of Trading Lower on Profit Taking, Brexit VotePer the pin bar candlestick, profit-taking should continue as long as the index trades below yesterday’s high of 12832.1, and the DAX index might reach the 12436.5 level, which is the 38.2% Fibonacci retracement level of the bull leg from the October low to high.
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Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice.
Time to start thinking about shorting POUND-DOLLARAnalysis of the 4 Hours Chart for FX:GBPUSD .
1) Trend Analysis - If we look at the above image, it clearly shows that the pair is in a downtrend . ( MAs and the Large Channel prove that).
2) Resistance Analysis - The red-broken horizontal line is a level of importance. The price tried to take support from this level a couple of times but failed miserably, i.e., it didn't make any promising minor high breaks (represented by 2 red down arrows) and also didn't quite make any impressing bull bars (which shows the strength of the bulls at this support is really weak). Furthermore, " Support once broken becomes resistance ." The market made new minor lows from those two minor highs which could suggest that the market is acknowledging this level as resistance . The Value Zone provided by the EMAs further strengthens this horizontal level. These EMAs proved to be excellent Value Zones for the price in the past and subsequently made new higher highs and new lower lows by taking supports and resistance respectively from these levels. There is also this minor channel drawn in the chart with blue-dotted lines that gives a trend-line resistance to the price, i.e., making this level more significant. So, we can say that the price is right at the resistance .
3) Candle Analysis - No strong bulls yet. The bull-bars couldn't even muster the power to break a single minor high. This shows us how weak the bulls really are. A big bull bar but no follow-through on closing basis. The big bull bar is making a steep slope (steep slope are always unstable and the price cannot stay at this level for long) which is probably showing that the market is in an OVERBOUGHT zone.
Trade-Ideas :-
a. One can take trades right here thinking that the price is still expensive. ---> Aggressive Approach
b. One can wait for the price to retrace back to those Value Zones, i.e., Trend-line resistance, Horizontal resistance and MA resistance, and then wait for a bearish candlestick signal to ride down the downtrend with a short trade. ---> Conservative Approach
I don't know which one of the above-mentioned approaches is correct. Sometimes the aggressive one is correct, sometimes the conservative approach is the one we should go with, and sometimes both the approaches are proven correct by the market.
Conservative Stops should be above these minor highs @ 1.23850 USD
Targets should be at the next support-levels @ 1.20300 USD or 1.19500 USD
This trade can have a reward – risk ratio of 3 or more if the cards are played right.
For traders who want to know more about my techniques or have any queries, you can chat with me directly through private chats. I will reply you back as fast as I can. Kindly like this post . Also, please do comment in the comment sections below . And I will love it if you follow me .
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Disclaimer -
All the ideas posted on these posts are published in good faith and for general educational purposes only. Satx98 does not make any warranties about the completeness, reliability, and accuracy of this information. Any action you take upon the ideas posted by me, is strictly at your own risk. I will not be liable for any losses and/or damages in connection with the use of my ideas.
EUR/USD Daily Update: Bull run continues for second day.EURUSD has continued its bull run for the second day, after breaking out of a bullish wedge pattern and reaching near a horizontal support zone.
From a technical standpoint, the higher highs on the daily chart suggest that an uptrend is forming.
Yesterday's dovish testimony by Fed's Powell put selling pressure on the greenback as markets place a higher possibility for a rate cut.
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AUS200 breaking higher from bullish flagFX:AUS200
Weekly – Bullish channel with bearish divergence
Daily – Bullish flag and overbought
4H - Breaking higher from bullish flag - looking for re-test to set longs
Buy AUS200 at 6560. Stop 6520. Target 6660
Overbought and bearish divergence on longer term charts could stifle this move
Good luck!
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S&P500 to have a strong drop soon?Strong rising wedge for the S&P. Could this take a healthy fall back down...RSI implies it is overbought
Also we had a parabolic move up from the lows of December/Jan...with no real healthy moves down for a recovery period on the way back up
Hypothesis: price reaches near ATH to fail at resistant levels. If it price proves to move back down, I think it could make a W shaped pattern before a move back up or complete a right shoulder for a inverse head and shoulders pattern.
NZDUSD Sell on Pullback (Daily)NZDUSD has formed a sell setup on the daily chart after completing a pullback to the previously broken rising trendline.
In the shorter-term, the pullback aligns with the 61.8% Fib level, which may signal that the recent short-term downtrend may continue.
Zooming out to the daily, we can also identify a symmetrical triangle, which suggests that the longer-term downtrend in the pair may continue further south.