don't follow this I made this in less than a minute. looked good in the minute it was made (:
TECH: Low Key falling wedge, heavy support now acting as resistance, settling/using 50 EMA as resistance, overall trend down, overbought on stochastic, Daily fib for extra eye on S/R levels Fund: Keeping it just to technicals on this trade
TECH: --FIB - HAD A NICE BULL RUN, PRICE IS NOW SETTLING ON 50% (THIS IS STRONG FOR A CONTINUATION OF PREVIOUS LONG TERM RALLY) --HITTING A STRONG DEMAND ZONE/SUPPORT THAT HAS HELD UP THIS STRUCTURE --CHART PATTERN - THERE IS A FALLING WEDGE INDICATING BULLISH BEHAVIOR FUNDAMENTAL: --FED CUT RATES --AUD STAYING SIGNS OF REVERSAL FOR STRENGTH TO NZD LET ME KNOW...
TECH: BULLISH GARTLEY, BIG SUPPORT, DIVERGENCE FROM MOVAVG, DIVERGENCE FROM 460 DAY TREND-LINE, FIB LOOKS GOOD TOO (DID NOT ADD IN ): ) MULT TIME: 1HR: DEVIATION FROM TRENDLINE 15MIN:STILL SOME SELLING PRESSURE BUT WEAKER FUNDAMENTAL: CAD SIGNS OF CONTINUATION OIL SIGNS OF CONTINUATION IF THEY CONTINUE ADD STRENGTH TO AUD GOLD SIGNS OF MAJOR REVERSAL IF...
From a technical perspective gold is running up a very nice trend-line and has just came out of a nice pop from a falling wedge. It is also hitting tops from 2015. Could be a sign of a reversal. Hear me out. The CAD, Oil, and AUD all seem to be becoming stronger. If CAD and OIL stay strong this is a good sign. If AUD shows signs of a reversal then we can confirm...
In terms of technicals, looks as if the AUD is reaching a bottom. Would like to see if it breaks the trend-line drawn in; however, entering in the trade now would limit my risk a bit more. Also if we take a look at gold we can see that price is also topping out from 2015. AUD is hitting bottoms from 2015. AUD and Gold tend to move together so this looks like a...
Top to bottom analysis here. Daily trend is down (green). Market on 1 hour is accumulating volume. Must touch trendiness/supply zone/resistance before entering short. If breaks trend line. The trade is void.
Looks good in terms of a short sell just off the supply and demand zones for a scalp. Scalp Short then go long. However, has not hit daily support from months ago so just be prepared for that if decide to go long. JUST MY VIEW. Basically, sell short to the demand then let if fly!
Would love for feedback since I am brand new to trading. Seems like its going to be a journey for me. Anyone with good tips. I'm all ears. Never had a mentor. All self-taught. So please don't trade off this. Gonna post a lot and see where it takes me. This isn't going to be professional. just for fun (: