A harmonic reversal pattern Crab is formed on gold chart which is followed by bearish divergence. Currently it is in Potential Reversal Zone. And sell stop below the PRZ will be our strategy to trade.
As USOil is currently in down trend. Our Trading strategy should be sell stop below current LL as indicated in the chart. Stop Loss should be at previous LH
As the pair is trading in downtrend so we will place sell stop below current Lower Low.
Although there is bearish butterfly formation but the divergence is bullish and current trend is bullish. So if bullish trend continues trade plan is portrayed in the chart.
Gold posted first lower high and lower low yesterday followed by another lower high. In anticipation of creating a new lower low here is the trade idea with trading levels.
SPX is currently trading in a rising channel and range bound to support 1 and resistance 1. Chart here gives the idea that because it was in upward momentum before channel bound so it will continue its movement upward.
CASE 1 : The head and shoulder played confirming the reversal of bullish trend but now there is divergence which bullish on RSI which again might result in reversal of trend.
Following the divergence there is down trend in gold currently and appearance of bearish flag indicates a further downward continuation.
The divergence is confirmed before point D and hence a reversal of bearish trend is expected with the levels defined in the diagram.
The divergence on gold 1H TF followed by bearish ABCD. It confirms bearish trend reversal. The corresponding levels of entry, SL and TP's are mentioned above.
In the absence of divergence and formation of cup and handle suggests a bullish continuation trend for CHFUSD pair. The entry point along with stop loss and TP's mentioned on the chart.
The inverted cup and handle formation suggests the continuation of the downward trend. The entry level along with stop loss and TP's are illustrated above.
The bearish flag formation and non existence of divergence in this case indicates the continuation of downtrend. the entry point and projections along with SL & TP are illustrated.
GBPJPY is showing an inverse Head & Shoulder formation on 4H chart which already played out and we can enter at CMP and TP's are defined along with stoploss.
There seems a upward momentum in gold in 1H time frame. Two possible entries with two scenarios are portrayed in the chart. Gold is on the brink to retest its Resistances.
As for the previous two hours the hammers are made on 1H time frame suggesting the bullish trend will continue and hence the referred entries specified.
As CADCHF is trading within a range for now so possible entries for both buying and selling are shared.
DXY is on the brink of regaining its support level 1. Although fundamentally it lost a great deal but it seems USD is trying to regain the lost ground. Hence the decrease in corresponding instruments will be noticed that are in pair with USD.