Currently a lower high is forming on Higher TF's (4H + )
The recent 4H low closed above the previous 4H low so it seems like we are moving up.
2331, 2345, 2370 are key levels to get in a long trade and hold gold to 2420 +
Wait for the retest on the key level before entering.
Goodluck FX:XAUUSD
GBPUSD Reached and rejected a monthly resistance.
Because GU is still in a strong uptrend I am on the lookout for a buy set up.
The Rsi shows me that this pair might have reached the bottom of its Higher Low.
Once GU breaks out around the area of 1.39700 I will wait and see if it comes back to retest the area of this level and enter a buy to hold.
High R:R
EG respected and rejected the resistance of its descending channel .
Once it retest the area around 0.86700 look out for confirmations and focus on the probability for a sell.
Reversal might occur a bit higher than 0.86700 to clear some liquidity from the market.
USDCHF created the lower high I was waiting for. (see previous UC idea)
1Hr confirmed the reversal to the downside.
UC is about to go down! Target : psychological level 0.88800
USDCHF tapped into a consolidation zone but did not manage to close in this previous range.
Now on the lookout for USDCHF to create a Lower High + confirmations to enter a sell.
AUDUSD Daily closed above the descending channel.
There is a possibility that the trend will continue to the upside.
Keep an eye around 0.77300 for a confirmation to the upside to enter the trade.
This area will either show a retest of the channel or fall back in to the channel as a fakeout.
So have patience !
GBPAUD touched the top of the descending channel on the daily timeframe.
Formed 4 peaks/ tops and broke through the ascending line on the 4H.
If the market will make a retest between the zone of 1.78400 - 1.78600 look out for a confirmation on the lower timeframes the enter a sell.
High R:R
GBPUSD is in a bullish trend, however it rejected a monthly key zone with confirmation from the RSI.
There is a possibility that GU will create a lower high before it continues the trend to the upside.
For now its a sell TP at 1.3700
Trend has been bullish since July 13th.
We are waiting to break and close above 0.9120 to enter a long term trade to the upside and reach to the monthly high in March.
The break out means we are getting back into the channel.
Set your alarm and wait patiently for a break. No break = no trade!
Goodluck.
beginning of this week the trend of last week was reversed from a bearish trend to a bullish trend.
Seems like its going to test the downside of the channel and might break out of it to follow to same path as last week.
For now its looking like it made a new Lower High.
For a possible position wait for a breakout and re-test.
After a H&S pattern and a sideway movement of almost a week the trend is still considered Bearish.
IF the 4H Candle will close beneath the minor support leven of the 1th of june 132.750 We might see the downtrend continue and fall back into the channel :)
