douglasswg

douglasswg Updated 

USDCAD, Elliot Wave theory in play. Last motive wave to point 5. I am bearish on this pair, with the target to 1.25 area Reason : - Price retest and rejection on fib level 50% . - Lower low formed on overall trend on 4-hourly chart. - EMA line above, creating a dynamic resistance above - Potential to reach next support points : Short at CMP or 1.2600 area; TP...

douglasswg Updated 

XAU/USD (Gold) in daily perspective has come back to retest 1290 price for the 3rd time since March 2017. I am bullish on this, as long as it doesn't break below 1265$/oz, my target 1310$ will still intact. Reason : - Price retest and rejection on fib level 50% on yesterday's FOMC event, rejection area (sign of bear trap). - Support area of 1267, double bottom...

douglasswg Updated 

EURUSD Daily chart formed double hammer, double rejection from bottom. A potential LONG can be executed with reasonable risk reward ratio. Reason : - 4 hourly chart, critical support at 1.1690. - Price rejection at fibs level 50%, hammer formed only daily chart. - Possible upside target to -27.2% fibs level @ 1.20 area. - Simple textbook price action in play....

douglasswg Updated 

NZDUSD currently ranging around fibs level 61.8%, gaining support at 0.7420 area. A potential LONG can be executed with reasonable risk reward ratio. Reason : - 4 hourly chart, support at 0.7420 holding firm. - Price rejection at fibs level 61.8%, hammer formed. - Possible upside target to -27.2% fibs level @ 0.7600 area. - Simple textbook price action in...

douglasswg Updated 

EURJPY 4hourly chart forming a triangle, will it break or bouce? By using 4hourly TF, I will try a LONG position for breakout test with reasonable risk reward. Reason : - With the current PA in play, 128.50 will be a support area. - Daily candlestick still resting above my EMA21, leaving tail below. - Potential to reach next resistance points : Entry point...

douglasswg Updated 

GBPJPY 4hourly chart unable to cross my EMA21, waiting further retracement back to fib level 50% I will try a LONG position for an upside target with reasonable risk reward. Reason : - With the current PA in play, 143.90 will be the next support area . - Currently H4 candlestick still resting below my EMA21, awaiting a crossover for long comfirmation. -...

douglasswg Updated 

NZDUSD currently ranging around fibs level 23.6%, gaining support at 0.7400 area. A potential LONG can be executed with reasonable risk reward ratio. Reason : - 3 hourly chart, support at 0.7400 holding firm. - Price rejection at fibs level 38.2% & my EMA21, leaving long tail below. - Possible upside target to -27.2% fibs level @ 0.7480 area. - Simple textbook...

douglasswg Updated 

GBPUSD daily chart showing sign of reversal after green candle appear after 5th trading day last week. Closing above 1.2950 area. Reason : - 4 hourly chart, support at 1.2950 holding firm. - Possible upside target to 1.3150~1.3200. - Simple textbook price action in play. - Reasonable risk reward to long. - Potential to reach next resistance points : Entry...

douglasswg Updated 

YellowMetal - XAUUSD, don't rush into buying it yet! I am still bearish on this, as long as it doesn't break above 1230$/oz, my target 1200$ will still intact. Reason : - Price retest and rejection on fib level 38.20% also last week NFP rejection area (sign of bull trap). - Resistance area of 1225~1230, double top formed. - Tight SL trade. - Potential to...

douglasswg Updated 

USDJPY daily chart forming a triangle, will it break or bouce? By using 4hourly TF, I will try a LONG position for breakout test with reasonable risk reward. Reason : - With the current PA in play, higher high forming in 4hourly TF. - Price rejection from below as it is unable to crossover my EMA21, leaving long candle tail below. - 3rd retest on descending...

douglasswg Updated 

GBPUSD weekly TF struggle to close below 1.2700, creating triple rejection on my EMA21 leaving long tail below. Reason : - 3x times weekly candlestick has struggled to close below 1.2700 price leaving long daily candle tail below. - Elliot Corrective Wave in play. - Potential to reach next resistance points : Entry point Long : CMP or any pullback at 1.2700...

douglasswg Updated 

EURUSD has rejected from weekly support at the price of 1.1130 area. I am expecting an upside for this pair to next weekly resistance area . Reason : - 3x times weekly candlestick has struggled to go below 1.1130 price leaving long daily candle tail below. - Higher high formed in 4-hourly TF. - Potential to reach next resistance points : Entry point Long :...

douglasswg Updated 

NZDUSD one month rally has come to a stop as the long term channel has been broken, finally a short entry can be made on the current market price. Reason : - Price rejection on 0.7325 - Price currently 'flirting' around weekly resistance area. - Finally a crossover of EMA21 on 4hourly chart. - Potential to reach next support points : Entry point Short : CMP...

douglasswg Updated 

EURJPY has rejected from yesterday's low at the price of 123.60 area. I am expecting an upside for this pair to next weekly resistance area. Reason : - Daily candlestick has struggled to go below 123.60 leaving long daily candle tail below. - Head and Shoulder pattern formed in 2hourly TF. - Higher high formed, hinting the start of wave-2 motive. - Potential...

douglasswg Updated 

EURJPY has closed above weekly support area at the price of 122.50 for the six consecutive weeks. I am expecting an upside for this pair to next weekly resistance area. Reason : - Weekly candlestick has struggled to go below 122.50 leaving long tail below. - 123.30 area was previous resistance now support. - Higher high formed, hinting the start of wave-2...

douglasswg Updated 

AUDUSD closed above weekly support area 0.7400. I am expecting upside for this pair to next weekly resistance area. Reason : - Strong daily candlestick closing above 0.7400 - Higher high on higher TF chart. - Potential to reach next resistance points : Entry point Long : CMP or any pullback ; TP1 : 0.7500, TP2 : 0.7555 ; SL below weekly support area . Risk...

douglasswg Updated 

Technically I am still bullish bias on this pair. Potential BUY on EURUSD around 1.1100 area using BUY LIMIT. Reason : - 80% quality Bullish Bat Pattern setup - Support area @ fibs level 38.2% - Risk reward 1:2.2 , why not? - Potential to reach next resistance points : Entry point Long : 1.1100 area ; TP1 : 1.1155 area, TP2 : 1.1200 ; SL below 1.1050 area...

douglasswg Updated 

GBPUSD slips due to election & terrorist attack issue. Technically I am still bullish bias on this pair. Going in LONG with risk reward 1 : 2.7 Reason : - 1.2780~90 is a strong support area in Daily TF @ fibs level 38.20% - Double bottom & Higher High forming in lower TF. - If this support break, next buying area will be 1.2740 area @fibs level 50% before SL. -...