LonelyCoconutTrading

LonelyCoconutTrading

H&S

LonelyCoconutTrading

Fibo

LonelyCoconutTrading Updated 

Reasons for entry: 1. Falling wedge formation. 2. 1H Hammer bounce off a very strong resistance-turned-support level. 3. 4H Inverted Hammer bounce off that same level. 4. Conservative break-bounce of strong resistance level. 5. GBPUSD in an uptrend already. 6. Biden likely to spend to repair the economy resulting in a weaker dollar. Let's see how it goes...

LonelyCoconutTrading Updated 

Reasons for Entry: 1. Price hit the 1.3700 key level which has 3/4 previous touches. 2. 4H stochastic in oversold area signalling to short. 3. Ascending Triangle reversal pattern forming signalling a bigger short over time. 4. A news report that led me to believe I should go opposite of it... PT: Near the bottom 4H Trend Line.

LonelyCoconutTrading Updated 

Reasons for entry: 1. Gold has been in a downtrend since August. The trend line has 2 touches and a wick has formed at the are of the 3rd touch signalling a potential validation of the trend line which would send gold back down. 2. Gold has been unable to close past the 1888 fib level the past two days signalling strong seller presence at the area. 3. Gold has...

LonelyCoconutTrading Updated 

PA is in an uptrend, Fibonnacci 38.2 level matching up with strong support level. 2:1 risk reward ratio. Will close trade by 1pm GMT. Let's see how it goes.

LonelyCoconutTrading Updated 

*This is a continuation from my previous idea pretty much. 4H has hit support at 38.2 daily fib and also resistance from previous 1833 level. As can be seen on the chart the 4H candle failed to close below the 1833 numerous times, because of this I believe the downtrend was just a retracement and the daily bullish trend will continue to 1870 then 1900. Will...

LonelyCoconutTrading Updated 

Reasons for entry: 1. XAUUSD has been consolidating the past week awaiting news for the US stimulus package. On the 30M chart, a fractal has formed at around the same area where XAUUSD has consolidated down two previous times. 2. RSI and Stochastic (30M) both showing signs of over-boughtness (couldn't think of the right term.) further indicating that Gold could...

LonelyCoconutTrading Updated 

Reasons for entry: 1. News: There is expected to be an increase in money supply to help offset coronavirus in the US, this creates a weaker Dollar. 2. Technical: Fib retracement using most recent significant Swing High's and Low's (Fractals) shows price stalling around the .382 fib level. Also previous strong support level lines up between 0.382 and 0.5...

LonelyCoconutTrading Updated 

The chart speaks for it self.

LonelyCoconutTrading Updated 

Retracement entry.

LonelyCoconutTrading Updated 

I reckon PA will either: 1. Rise to the key level of 1.3 before returning back down to take profit level. 2. Not make it that high, come back down and break past the two strong resistances for a strong sell entry Will update as things go on, should have an entry today that ends today.