NannePost

NannePost Updated 

Gold rejected @ the upper parallel of 1-hour descending pitchfork, early this trading day. During last Friday's trading Gold made a bearish flag formation on 1-hour chart, so an early Monday move to the downside was expected. Gold is testing the 100 extension of this bearish flag formation, with the 61.8 % retracement (of last weeks bounce) underneath it. If...

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Aussie rejected from (possible) pitchfork lower parallel, with confluence of 61.8% retracement of the month. Broke out of descending channel late on Friday, as of now it is testing this descending channel from the topside. Waiting for a reaction @ multiple slopes and 61.8% retracement of Friday trading range. 4-hour chart 15-Min Chart

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If break out is legit, we should go lower soon. Last week we broke out of an ascending formation to the downside. We retraced quite a bit, since than and it is really testing my patience, however i still like to short it. IMHO it should turn soon, to give a confirmation of a legit break out. The descending pitchfork looks decent, i wouldn't trade of it as of now....

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Kiwi's last week bounce came from a confluence area highlighted in a previous analysis. Keeping interest rates @ 1.00% really helped kick it higher. A look @ daily and 4-hour chart shows a clear bottoming formation. Kiwi is trying to break out higher on hourly chart. Some overhead resistance, descending slope line, 61.8 retracement of the month and a couple of...

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Gold rejected from the area which was highlighted in a previous analysis. IMHO it first has to break out of descending Pitchfork on the 1-hourly chart and take out the high of yesterday before further upside is on the cards. Short term set-ups. Short set up. -Entry @ confluence area of descending pitchfork and median line of rising channel. -Stop above...

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Entry on lower Schiff pitchfork parallel and daily low of three days ago. Schiff pitchfork is drawn using monthly low and high. Stop loss: below recent low. Target: Yesterdays high

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1- Hourly Chart

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Hourly Chart.

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It looks like cable resumes the up trend. It broke out of a descending consolidation pitchfork. As we of now it is touching the pitchfork which has confluence with Fridays daily high and 618 retracement of previous breakout. 1-Hour Chart 15-Min Chart

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Platinum broke trough an ascending trend line, late last week. However the bias remains bullish as long as we stay above 868 on a daily close. New entry level long would be the area of 878-868. This area involves a couple of monthly highs/lows, 618 retracement and slope support.

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As of now Oil is deciding if it is closing the week above the descending line, this means oil has to close up for the week. Inflation has been rising lately, oil likes this very much, so my bias has shifted bullish recently for oil and other commodities. 1-Hourly Chart Multiple rejections from the weekly open. Could be a nice entry point long.

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Daily Chart 1-Hourly Chart 4-Hourly Dollar Index 1-Hourly Dollar Index

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Kiwi made an inverse H&S pattern back in early October. Has tested the neckline once and rejected strong. As of now this neckline comes in play again as it intersects with ascending Pitchfork. Daily

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Platinum should reject of the slope line and close above 900 on the day for a strong conviction, however it looks good enough for me. Just like Gold, Platinum respons to real yield, which look overbought at the moment touching previous support, "possible" resistance.

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It looks like gold is following an ascending slope, which it made in early 2019. Since the high of the year it's consolidating and almost made it to the lower parallel of the 2019 slope line. During consolidation it had a decent rejection from a 100% extension line of previous down move. Gold could make another 100% extension at "possible" slope support @ 1443....

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Yen provides an excellent short entry for trend continuation. It reached the upper parallel of descending Pitchfork, which intersects the 2018 May Low. Entry ~ Wait for break of ascending hourly slope line. Stop ~ Conservative ~ 109.40 Aggressive ~ Above recent high after break slope line. Target ~ 1 ~ September Open ~ 106.10 2 ~...

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Entry on slope resistance, purely technical. Entry~ 118.500 Stop~ 119.000 Target~ 116.500

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Possible short set-up, try to short as close to 1.2373 as possible. Entry ~ 1.2373 Stop ~ above 1.2400 Target ~ 1.2025 Daily Chart