Umlingo

Umlingo

A suggestion for further price erosion of pound ( as BOE bumps up QE) , with a consideration of fibonacci's. Overlying resistance on the intraday chart see a confluence of MAV's and Horizontal resistance. Consider 1. Enter short = 1.2495 ( Retest for resistance) 2. Stop - above recent consolidation = 1.2595 ( 100 pips) 3. Target - 3 shown corresponding...

Umlingo

Gold has been in consolidation within a symmetrical triangle on the intraday chart. Price can break up or down. This is considering a scenario of up. 1. Enter long - at break of triangle to upside = $1726 2. Stop - below prior swing low of triangle = $ 1710 3. Target - there would be 3 points a. Prior horizontal resistance = $ 1745 b. Equal extension = $...

Umlingo

The Aussie is in consolidation , and considering an idea for a 4th leg of potential cypher. Entry for a long 1. Enter at .6820 (.786 fib) 2. Stop - below A ( the pinbar low) 3. Target - .7030 ( D = 1.27 fib extension) 4. RR = 4.5

Umlingo

As Per chart , considering a measured move (ABC) further down . Risk Reward = 2

Umlingo

Aussie on a strong move up... there is a strong rejection candle on the intraday chart. Consider short 1. Enter - around .7035 2. Stop - above .7100 3. Target - .6755 ( reversion to 120 MA) 4. RR = 3.5+

Umlingo

Considering a scenario for the Aussie index to move in a possible Cypher pattern as on graph. As such 1. Awaiting signs of a correction back to the downside from 6200 to 5100. 2. Then a further move up to a new all time high in 2021 breaking the 8000 level.

Umlingo

Gold has been in a corrective mode since early Sept 2019 , travelling within a descending channel. Momentum appears to be contained to the downside , with the MACD averages located beneath the neutral line. IF so, then enter for short 1. Enter - around 1480. 2. Stop - above recent swing high of 1514 3. Target - 1404 an area of support , which is also .382...

Umlingo

Gold looks to making a corrective minor 4th wave. If we take a minimal retracement the .382 fib, the price for gold is 1407. Enter short at intraday level of price rejection and look to target 1400 as per chart....

Umlingo

EURNZD is within an a wedge consolidation , and maybe completing the 4th Wave (D). If an ABC minor correction is in play , then consider overall a Head and Shoulders scenario with the pair now forming the right shoulder. With price nearing the .786 fib retracement of minor wave a , wondering if minor wave b is just about done. Looking to short the EURO ........

Umlingo

The AUDUSD has been within a downtrending channel since start of 2019 , and all likelihood to continue to do so for the rest of the year. Presently price has moved away from channel support , and considering a 3 wave corrective cycle to the upper trendline , and long into the third wave (c) . Consider long 1. .618 -786 fib retracement of wave a = .6750 2. stop...

Umlingo

Considering a long in the direction of a possible new wave (D) , rising to trendline resistance. Entry - at start of support zone at 107.35 Stop - below support zone 106.75 ( 60 pips) Target 1 - 109.20 , top of near resistance ( 2/1 Gann Line) Target 2 - 112 , top of consolidation trendline ( above 4/1 Gann Line)

Umlingo

Gold is winding within a corrective triangle structure. IF a 5 wave structure is in play 1. D wave to complete around 1493 2. E wave to complete around 1503. The short trade is 1. Enter at E 2. Stop above A 3. Target .618 fib extension to 1442. RR is 3+

Umlingo

Conservative RR for Aussie corrective long against trend within longer term downtrending channel. Idea for trade on chart.

Umlingo

If Bitcoin is in an ABC corrective mode , within the 4th primary wave Then a short can be considered from the 50 EMA Stop above recent minor swing high Target is the projected C at 7500. RR = 3+

Umlingo

From Dec 2018 , Bitcoin has made 2 major impulsive waves and now is in corrective mode. Correction A & B have played out. Currently the C wave is in progress , and the likely target is around 7500.

Umlingo

Given the uncertainty existing - brexit , printed currencys, US - China trade wars and undermining of stock markets , a move to precious metals seems reasonable. Silver is on the rise ...... and should see 20 eclipsed in the short term .... and then some...

Umlingo

Gold is on the rise.... possibly a little to quick for the present time and a distance away from the 20 period moving average. Yesterdays long tailed pinbar, suggests a clear rejection of price from the 1550 level and may see consolidation between 1500 and 1550 in the coming days . Gold is too bullish to short , and looking for an opportunity at support to...

Umlingo

Trade possibility of a short from BB midpoint to the base of a longer term descending triangle support. Stop is above recent swing high. RR = 2......