Umlingo

Umlingo

This is a suggestion for a counter trend trade. On chart ....

Umlingo

Price recently has hovered around the 107 handle as 1. False break 2. Breakout to downside and retest 3. Recent retests. Looking for an entry for short 1. Enter around 106.70 2. Stop above 20 period MAV around 107.40 3. Target prior support around 104.50 RR = 3

Umlingo

EURAUD has been travelling in a channel to the upside. Price has broken resistance at 1.64 , and retested this level . Looking for a long entry 1. Entry - at 10 MAV 2. Stop - below support 3. Targets - many = channel resistance trendline, 1.27 fib extension , horizontal past major resistance. RR at best 4....... Price is likely to consolidate between 1.65...

Umlingo

Trade as per chart , with a continuation of to the upside....

Umlingo

This pair has made a strong rally to the 1.73 handle , after forming a Inverse H&S in the low 1.60's. Looking for a long 1.Entry - Confluence of support and in the shorter term moving average buy zone. 2. Stop - well inside the support zone 3. Target - Swing high of October 2018 RR = 6

Umlingo

Time for a correction of this index..... short as per chart may be a consideration...

Umlingo

The trend with this pair is down, with price travelling with a channel beneath the 200MAV. The Range for the year so far is between 1.07 and 1.02. Last Wednesday a large bullish candle was formed, that was the most significant since Jan 2019. This degree of movement will be instigated by the institutional buyers and not the retail crowd. Maybe the real...

Umlingo

I am bullish on the USD against the CAD in the near term. However , would like to see price correct to the .786 retracement level of the prior swing ( which could be an impulsive minor 5.1 wave ) . Entry - between 130.80 and 131.40 Stop - below swing low Target - 6.18 fib extension to 1.3550 RR = 5

Umlingo

This is a possible wave count for the pair from 2011 low to present. This count makes me bullish on USD against the CAD and looking for going long on weakness of US dollar. I am looking towards 1.37-1.40 as possible upside targets in the near term.....

Umlingo

Silver is bullish .... Considering entering long on a retest of 16.80 area as support. This would make a good entry point. Target is 18.30 ( look left on the monthly chart and its is a prior swing high point) Stop below prior resistance now support at 16.50 RR = 5

Umlingo

USOIl has been travelling in a descending triangle , with price contained beneath the 200 MAV. Price has tested the support at 50.00 twice , with rejection. Looking for a 5th wave , now moving up back towards 55.00. Then possibly the final wave down, to test 50 a third time and break to the downside. The bias is bearish for OIL. Entry is sought to continue...

Umlingo

Gold is uber bullish presently. Look to enter a long trade with a pullback 1. Enter at the 10 MAV 2. Stop just outside the 20 MAV 3. Target is 1242 Risk Reward = 4

Umlingo

An idea- Gold is within a Wave 5.3 This being an impulsive wave , a possible endpoint is considered at 1.618 extension from waves 5.1 and 5.2 to a target of 1656. A wave 5.4 would be corrective and possibly move price back down to 1542 , before a final leg towards 2000. Optimistic yes, but presently bullish on gold since we are experiencing a motive wave.....

Umlingo

Staying with a short bias with EURJPY Entry - confluent area for 1. Shorter MAV = reversion to mean 2. Retest of Resistance Target is bottom of trend channel Stop - above prior channel high Risk Reward 2+

Umlingo

The EURUSD is travelling within a downtrending channel , with the 200 MAV containing the price action. Price has broken below 1.1100 and yesterday the buyers were rejecting price passing to 1.10 , with the formation of a notable pinbar. Before reentering with a short trade , the area of interest would be 1. Test of now 1.11 as resistance , with failure. 2....

Umlingo

Yesterdays bullish candle and breakout of resistance , places a long bias on the pair. Entry - look for price to retest the prior resistance level as support. A candlestick reversal would be good. Stop - below breakout low . Target - completion of an ABCD pattern RR = 4

Umlingo

A short entry is considered for this pair . Trade is on chart , with a target of .6750

Umlingo

AUDNZD has been in a channel downtrend. Waiting to reenter the channel at resistance . Entry - around 1.0440 Stop - outside channel above 50 MAV Target - prior swing low RR = 3+