MarcusHN

MarcusHN Updated 

GBPJPY has been rallying for some time. Based on RSI, price is overbought. H4 market structure change from bullish to bearish. Hence, I'm looking to short this pair at the resistance zone around 157.25 which also aligns with the fib golden zone. Price rejecting the zone will confirm the head and shoulders pattern. Price target will be at 156.00

MarcusHN Updated 

Gold formed a morning star pattern on the weekly time frame, rejecting previous support. On the daily time frame, we saw a strong bullish candle on last Thursday breaking through previous resistance level at around 1787. This gives me a bullish bias for gold in the following week. Market structure on the H4 time frame has also turned from bearish to bullish. Price...

MarcusHN Updated 

Yesterday's candle close very bearish, closing below daily support zone. I expect the bearish momentum to follow through today. What I'm waiting for is a retest of previous support turned resistance and then look to sell. Another confluence we have is a break of trendline. My bias is bearish and I'm looking to sell only. Profit Target is at 21.50

MarcusHN Updated 

Gold went up back into the daily resistance zone rejecting it and also had a retest on the H4 trendline. Market structure on H4 is still bearish. I'm expecting gold to drop next week as long as Friday's candle close below daily resistance zone. However, we may see gold range for a bit first after the huge H4 bullish candle formed.

MarcusHN Updated 

Gold formed a bearish engulfing candle on the daily timeframe yesterday, rejecting out of the daily resistance zone. Price action on the H4 time frame had a trendline breakout to the downside. Price is rebounding after hitting a key psychological level around 1775. My bias is bearish and I'm waiting for a potential sell setup if price rejects the minor H4 level at...

MarcusHN

H4 market structure is bearish, creating lower swing highs and lows. 1774 was a previous level of support now turned into resistance. Currently waiting for a H4 candle close to confirm a rejection on that resistance level and then wait for lower time frame confirmations for entry. Target is previous low at 1762 because we are having NFP today and I don't wanna...

MarcusHN Updated 

As we can see from the daily timeframe, gold rejected the daily resistance at 1808 yesterday and closed below 1784 and the daily trendline. Based on my analysis on Monday, I've said that a daily close below the trendline would give us a clear short bias. A thing to take note also is notice gold had formed 4 consecutive inside bars and yesterday we finally had that...

MarcusHN

Looking at the daily chart, gold is supported at a strong level of daily support at around 1790 which also aligns together a 3rd touch of the trendline. Market structure on the daily timeframe is bullish and price is now sitting at the 78.60% fib level. Hence, there is a higher probability for gold to continue up. Something to take note is last week's candle...

MarcusHN Updated 

Overall structure for gold is bearish. Simple break and retest entry with 2nd entry opportunity for double top pattern.

MarcusHN Updated 

Been waiting for this trade for quite sometime. Price is sideways and just broke the bullish trend line. I believe the sideways region is just banks accumulating orders to pump price down. It is an intraday trade and i can see price hitting target by today.

MarcusHN Updated 

Overall structure on the higher timeframe is BULLISH . Price action is nice showing loss of bearish momentum and filling orders at the previous order block. Stop loss set 20pips away to prevent fake out moving into London session.

MarcusHN Updated 

Risky trade as price is still consolidating in the region. Entry is based on Double bottom. Price melted yesterday and is now consolidating. A good guess would be insitutions taking profits. Which means orders are taken out and price is likely to go back up to fill orders. However, this is a counter trend trade so I'm taking profits at the next resistance level...

MarcusHN Updated 

As we can see,market structure has turn bearish even in the H4 timeframe. The previous order block in M30 has been filled and price is ready to push down. Trend line breakout give us an additional confluence. However, we may expect price to consolidate for abit when it reaches 154.80 level as it is the previous low.

MarcusHN Updated 

This is a counter trend triangle breakout trade. We can see a huge push to the upside yesterday into a weekly level and with almost no pullback. Personally feel that price is a little bit overextended.

MarcusHN Updated 

Price rejected the resistance level several times, which is also a daily level. Will like to see price reach 154.96 to fill the orders but my TP is set at previous low to be conservative as it is a counter trend trade.

MarcusHN Updated 

Price form a double bottom yesterday. Now price is giving us a second opportunity to go long with the neckline retest. Entry: 1.8341 SL: 1.8326 TP1: 1.8375 TP2: 1.8409

MarcusHN Updated 

RSI Overbought. Price need to fill orders left behind.

MarcusHN Updated 

Entry: 1.8328 SL: 1.8313 TP: 1.1.8409 Today is bank holiday so risk lesser than usual.