So there is nothing fancy with this instrument. It's clear that we going to go short. However further confirmation is necessary. The reason being is that there has been recent strength in the Australian dollar. How long will the bulls last? At this point it looks clear that major investors are pulling out as we have reached an overbought market.
So, this is my raw thesis for pound yen over the long term. Ideally, I want to keep this reference because this is my long-term outlook on this instrument. Of course, the market can always move and change direction, but my confidence will be looking at capitalizing on this instrument as price confirms entry and exit points along the way.
So ive been offline for a while. But you probably waiting for the gold update. And this was the outcome. However, we moved passed this setup few days ago. New updates coming shortly. Like this post if you want me to open a small community.
A new setup has emerged. Since I never posted the before and after of my previous entry. Here's my new entry. Round 2. Let's see how this plays out.
So this is what happened while trading Gold. I first took short positions on Monday/Tuesday morning due to rejection of my trendline... ... and due to the fact that price was still trading under the H4 horizontal support. I shortly closed because Gold usually is bullish in times of uncertainty. Then price broke and confirmed buy entries... The rest was history.
So, this is my weekly analysis for gold. Honestly, I do think we can see a bearish push due to the political conditions in the USA. President Biden has stepped down and this could make gold investors think twice before investing into this safe haven. However, if we do see a push above our trendline we can see a reverse in the overall move. But that could come...
GBPCAD hits back... And decides to make our setup invalid. Most likely because there is fundamentals surrounding the Canadian dollar... The Canadian dollar has lost its strength recently which is unlike this instrument... But these situations happen and it's our job as investors to account for such situations...
So, we have reached the exit point on GBPAUD. This was a beautiful setup... And price moved smoothly with almost zero draw down... Overall, our risk on this instrument was around 70 pips. Onwards and upwards we go... Forwards ever backwards never.
About to hone in on this pair... So far our backtesting is going well... And preparation to take things further is approaching... Here we can see a possible short position on this instrument. Take profit is 98 pips away and our potential stops are 37 pips above our entry point. Let's see how this pair wants to express itself. Will it respect our analysis or not...
So the setup is completed... 100+ pips on this single move. The movement of this pair suits the technical and intuitive approach. Time to move on as the week progresses.
So GA has climbed another 160pips + And taken out take profit 2... This set up is also completed in my eyes. But for banter I will keep my eyes on it and expect it to hit TP3. This was a fun set up.
So far so good. The analysis played out to the tee. Of course, we have received fundamental news over the weekend that Joe Biden the current president of the United States has stepped down. What could that mean for the US dollar this week. And we also going to receive more tech fundamentals this week. Promising opportunities in the market. Investors will be...
Here we can simply see that bulls have taken over. We are currently riding the market higher... So far we have already made huge gains on this pair. But we will wait for take profit 2 and 3 to be taken out. Take profit 1 gave us 168 pips. So far so good.
So, we looking to ride the market to the short side... This is a very simple technical indicator that GBPUSD is losing momentum to the upside. And that's why we are going to capitalize on the current exhaustion phase in price... Currently we see a break in the box region we have put up and another break in the overall uptrend... Price is also trading below our...
BTC setup failed... Price was controlled by sellers. My thesis is that fear was in the market and investors were not confident enough to take long positions. Especially since BTC dropped below the halving price at @63000
Gold has completed the overall set up. Taking out our targets at take profit 1 and 2. This was a beautiful swing trade and it played out to the tee. I know there's a lot of speculation going on with this instrument. Many are predicting that we can see price going even higher. Other investors predict and bear market. It's too soon to call anyways... I will...
Update on USDZAR Analysis completed Honestly it is what it is at this moment The bears continue Good news for the South African Rand Not so good news for the US Dollar