GBPJPY Weekly SetUpThis week in focus:
183,800-180,000-178,500
Personally, I like to buy GBPJPY, but we have to be careful since we have political tensions and this could lead to a possible change in general order flow.
We have the possibility to have short term sells.
At the same time, we have the unemployment rate, retail sales and inflation rate which could lead to further weakness in GBP in the short term.
Weekly-setup
XRP Weekly To Establish Moon Base XRP has been one saga to follow over the years..
It has produced famine and fortune..
Again we are looking at a potential setup that could send us to test and possibly break the old 2018 ATH.
I mean if your following XRP similar to my path your expecting it to break that old ATH...
However, negativity surrounding the lawsuit and regulations looms amongst the talking points.
But doesn't negativity seemingly always loom around? I mean could you escape it realistically?
I believe not. However, there is always the option to ignore it.
Big risk brings big reward.
ANALYSIS***
Stochastic RSI has been oversold since late May 2021. It is now turning vertical and breaking back into the bottom of the bearish zone.
MACD is rejecting a move into the negative zone and also turning vertical which is a very bullish sign on such a high timeframe and produces explosive moves in price action.
Price Action sold off consistently over the summer months and found support of a major resistance level around .55 cents. This area was rock solid resistance for XRP price in both December 2020 And February 2021.
CONCLUSION***
XRP is going to make parabolic moves to breakout beyond its previous ATH in 2018. There is a lot of speculation on the $10-15 for short term targets. I am mostly long term investor with XRP but do trade a small percentage of my portfolio. Following a massive pump we should see price collapse and retest the then old ATH area around $3.50. I will update with new ideas as this story progresses. Interesting times lie ahead.
My opinion only.
Not Financial Advice.
AUD/USD - Short - ALL AUD/pairsAll the AUD pairs is showing really great WEEKLY setups, with strong S/R and reversal candles forming/formed.
I will trade the USD very carefully, but still stick to my technical analysis, im taking the DXY as a strong indication on where the USD will move the next couple of days/weeks.
Im waiting for good reversal setups on the daily, but i'm willing to short the AUD/pairs due to the strong weekly setups, if I spot a good intraday setup.