Umlingo

Umlingo

AUDUSD has been in a longterm downtrending channel. More recently price has moved up , and price is currently testing the lows of this internal channel. The short opportunity is considered for a breakout of this minor channel, but it needs to be confirmed , first with a break and retest of a lower swing point. Entry is at that point which is in the low teens...

Umlingo

The wave count for the current downtrend which commenced in Dec 2015. Current count could be 1. Primary wave 5 2. Intermediate wave 3 3. Minor wave 3 incomplete

Umlingo

GBPJPY has been in a steady downtrend since early 2018. Price is approaching the supporting trendline for this channel around 132.00. Notice the price is moving against the momentum. Towards 132 , the bias is short. At 132 , looking for signs of a reversal to the upside to test the 138 level ( now acting as resistance) , before price resumes the downtrend to...

Umlingo

An area of value may occur with confluence of 1. .50 fib retracement of recent swing down. 2. Intermediate horizontal resistance Stop above .786 fib Target - between .272 and .618 extension , at a level of past horizontal support. Risk reward is 3....

Umlingo

Euro Yen may have recently formed a daily double bottom. The short possibilities exist if price offers rejection of any of the fib levels , with noted extensions as targets. A long would be considered on breakout and retest of the swing high as support.

Umlingo

The All ords is pushing towards multiyear highs. An entry is considered in direction of trend . Set 1. Entry - just above the high of the recent inside bar ( mother candle) 2. Stop - below major support at 6770 ( and below current candle wick) 3. Target - .618 fib extension Risk Reward 3.5

Umlingo

Gold has broken from recent triangular consolidation and is retesting current support/resistance zone. The bias is to the long side , as price respects the 200 MAV. Entry - near the current support at 1425 ( fib zone of .5-.618 , showing long wicks to downside and price rejection to the downside at 1420) Stop - break of the recent swing low and beneath major...

Umlingo

Current count 1. Primary wave 3 2. Intermediate wave 3 3. Minor wave 2 4. Minutte wave b Presently considering we are in a b wave possibly making its way to a retracement around the .50 fib of the minutte wave a. A short bias would be consistent within the framework of the corrective wave 2. Overall the view on gold is long, as intermediate wave 3 will unfold.

Umlingo

Entry @ 111.05 - 111.10 Stop above Right Shoulder Swing 111.60 Target - 110.25 ( which is confluence of measured move and fib .50 )

Umlingo

As per chart. Main target is Volatility Mean.

Umlingo

As per chart . Wait for price to retest horizontal resistance.

Umlingo

Wait for confirmed break of prior low swing point, then enter. Stop and target on chart.

Umlingo

As per chart

Umlingo

As per chart

Umlingo

The scalp idea is on chart.

Umlingo

It is possible Gold is in an impulse "a" of the D leg, within a larger wedge consolidation. With the 'b" correction proceeding to 1250 , followed by the next impulsive '"c" wave to 1170.

Umlingo

Gold may have reversed into the D Leg. A short opportunity could exist. Short from 1270. Stop Loss at C ( 1290 ) Target 1 ( immediate ) @ 1240. Target 2 @ 1220 Target 3 @ 1195 Target 4 ( near term D ) @ 1160

Umlingo

Gold since November 2016 , may be in the process of forming a symmetrical triangle. With this potential scenario, the current C leg of the correction, is likely to have a weekly close around 1300, before price moves back down to 1150 with the D leg.