KairosFX1

KairosFX1

Clealy, we can see that the range has been broken downwards, price then went up to restest the support zone which had become resistance; it even broke it but nicely came back with a nice long wick.

KairosFX1

Nice H & S pattern formed.

KairosFX1

On May,3rd, when i first published analysis on this pair, price was at 1.2026, then dropped to 1.1723 (about 300 pips). My bias is still sell, so long as price does not through 1.19200 with a clear bullish candle about that area. What do you thint traders?

KairosFX1

When I first published this analysis at the beginning of the month, price was at 1.2449, then it dropped to 1.2070, that is about 380 pips before movig up to restest the neck level of the Head & Shoulders pattern. Since price has clearly been rejected, I think it might drop further. Sell stop around 1.2070 could be good as one waits for price to confirm its down trend.

KairosFX1

So long as Spport and resistance is respected, we act accordingly. Price is rejected at resistance, I am selling down to 69.00, then wait for price to either break support, rally and drop further or move back up to resistance. Any contrary view??

KairosFX1

My bias for Gold is short, See chart for explanation.

KairosFX1

On this chart, we can see that from 10th March to the 21st May, price has been rejected at this strong resistance, 66.00-66.60. The level has been respected so far with price recently being pushed down. Besides, an M pattern has been formed, we are expecting a restest/rally then further drop, down to our next major support at around 63.48

KairosFX1

As seen on the H4 chart, a double top/M pattern has been formed, price broke through the neck, we are having a retest, probably up to 0.6555-maybe not-, then a fall down to 0.6400 where we have resistance, if price breaks downwards, then it will probably hit 0.6270, then 0.5983, thereafter 0.5730

KairosFX1

I see a breakout which being followed by a retest. If a bullish candle is formed on daily chart such as engulfing or hammer, it would be a confirmation for a long position up to 121.00 then 122.70. I would suggest, not an immediate buy, but a buy-stop around 118,15 area. Buying at current level, for me would be aggressive.

KairosFX1

As seen on the chart, price has been ranging from 3rd May to 21st May between 1.0774 and 1.0982 with multiple rejections on Daily chart from 6th May to 15th May, making that support area a strong rejection point, hence EU is likkely to be bullish when it gets to that low area. What do you think?

KairosFX1

Hello Traders, Personnaly I see a HEad-and-Shoulers pattern on this pair. We can see that the bullish candle that wanted to invalidate the pattern got swallowed by two red candles that closed at the same level as the first shoulder. Any view?

KairosFX1

Hello traders, Here we have a potential Double top pattern forming. IF confirmed, my fisrt target is 1.1625 then second is 1.12000

KairosFX1

Hello traders, As seen on the chart, our well-known double bottom pattern has been formed, moreso previous week ended with a nice bullish candle, We are extecting a potential breakout, retest then we enter for a long ride up to 0.9300

KairosFX1

Hello traders, As you can see, this pattern (Double bottom) is common in the trading community. I expect price to break through the current level-should I call it neck?- probably get to 1.1130 and make a pullback before continuing upward. If the setup is confirmed, my first traget would be 1.1220 and second target 1.1435. Thanks.