michaelk631

michaelk631

GBP/AUD looking like a nice swing..awaiting for price action to signal an entry short. I will wait to see how the daily candle closes - looking like an entry next week -Awaiting bounce or break of trendline -61.8% fib matching up with weekly resistance -Price touched weekly resistance and quickly decelerated -hammer candle on the 4hr

michaelk631

USD/JPY lets see how this plans out, nice risk reward ratio here

michaelk631

Looking at the AUD/USD daily timeframe we can see that a lot of bulls have entered the market with the 2 bullish daily candles which was then rejected by daily resistance at 0.75000. Price will either battle around daily resistance then drop down towards monthly support at 0.74000 or we will see another bull candle, a break then a re test before going long up to...

michaelk631

XAU/USD longs are shaping up to be looking good. - Ma's crossed to the upside - 3rd trend line bounce on the daily - Higher highs and higher lows - Break out of consolidation to the upside I will be waiting for a re test of the box before going long up to daily resistance thanks

michaelk631

AUD/USD will be an interesting pair to watch next week as the prices edges towards to the weekly trend line which price has been respecting for around 8 weeks now. The weekly candle is a bullish engulfing which shows that a lot of bulls have entered the market so it either go 2 ways. Price with either respect the trend line and start moving to the downside or...

michaelk631

I think we may have an up and coming USD/CAD long. We have a daily uptrend making HH and HL with a 61.8 fib retracement almost sitting on top of Monthly support. We have a nice trend line coming up which the candle will either bounce or break to the downside, lets see how this one plays out. I will be taking longs if price action presents its self around monthly support.

michaelk631

I think we may have a GBP/JPY short coming up soon, we have a nice uptrend broken by some LL's and LH's along with the 61.8% FIB lining up with monthly resistance at 145.500. I will wait for a CTL break, MA crossover and price action to take a short on this pair

michaelk631

AUD/USD looks like it has a nice short coming up, we have been seen lower highs and lower lows since March which indicates downward momentum, MA's are crossed to the downside on all time frames (W,D,4hr) we had a retracement to the 50% FIB which was rejected and has formed a shooting star on the daily. A break on the CTL and I will be proceeding with shorts on this pair

michaelk631

I think that EUR/JPY has ran its uptrend course and we will soon be seeing a reversal at the 124.00 key level. On the Daily we have a nice hanging man candle formed at the top of an uptrend I also see a head and shoulders pattern forming on the 4hr time frame, once it completes the right shoulder I will be shorting this pair with my SL just above 124.00 thanks

michaelk631

Gold shorts are looking good, on the 4hr we have a nice 61.8% fib retraction which seems to be holding and potentially a nice shooting star candle forming, just awaiting the close of the candle. Hopefully god will make its way down the 1200.00 area thanks

michaelk631

AUD/USD is looking like a long for me, on the daily we have a nice uptrend followed by a 61.8% fib retraction, we have 3 hammer candles on the daily time frame sat the 0.7400 key level, it has been unable to close beneath it for 3 days! We have a nice Bullish engulfing on the 4hr thanks

michaelk631

Gold is lining up for a lovely short with more bearish momentum in my views, we have a nice clean break of the daily trend line with a lovely MA cross over suggesting a change in trend direction. We have a beautiful gravestone candle formed on the Daily suggesting that the Bulls have been pushed back by the bears signalling a change in trend. On the 4hr chart we...

michaelk631

I think this pair has a lot more upside potential but first i think it will re-trace to one of the fibs due to candles not being able to close about the 1.7500 key level, thanks

michaelk631

We could have what looks like a nice EUR/JPY short forming here. I see a nice downtrend with 2 shooting star candles formed at the 122.00 key level on the daily, will see how the daily candle closes before furthering any action. First TP would be 120.00 SL just above weekly resistance at 122.100

michaelk631

Taking a look at my previous idea I have changed my Bias from short to long, looking at the daily candle we have a bullish engulfing followed by a nice pin bar, I am hoping that we make higher highs as on the 4hr we have a retracement to the 50% fib followed by a bullish engulfing candle SL just below the lower wick at 1.06800 TP at the D! extension 1.08250

michaelk631

I would like to see gold make its way back up the 1300 mark and even break through

michaelk631

Looking at EUR/USD I think it has a lot more downside potential we have a trend line break with a retracement to the 61.8% fib, price action isn't great but we have like a tweezer top formation followed by a bearish engulfing, I like to see down to at least 1.06500

michaelk631

I think there is a lot more downside potential for this pair, will keep an eye out for an entry!