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500 Fibonacci Retracement

GOLD (XAUUSD) - Weekly forecast and analysis 🎯Welcome back! Let me know your thoughts in the comments! ** XAUUSD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
FOREXCOM:XAUUSDLong
by BKTradingAcademy
1
GBPCHF | Perspective for the new week | Follow-UpWith over a thousand pips since my last publication on this pair (see link below for reference purposes); The Pound has enjoyed dominance over the Swiss franc in the last couple of months and we are presently witnessing a drop in Bullish momentum as price action appears to have transitioned into a corrective phase since the successful Breakdown of Fr1.28000 (Key level) on the 7th of April 2021. Even though we are on an overall Bullish trend (see weekly chart); I am planning to take a counter-trade opportunity on this pair, why? We might be experiencing a risk of further decline in the coming week(s) as participants who took advantage of the Bull do quick profit-taking with high hopes of a rally in the nearest future. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand Observation: i. Breakdown of Key level @ Fr1.28000 has been followed with the multiple rejections of this level as price continues to trade under in the last one month. ii. From a Bearish perspective, trading below Fr1.28000/1.27000 seems to be a safe juncture to place sell orders in the coming week(s). iii. Even as Bearish momentum appears imminent, it is important that we take into consideration the major Demand zone @ Fr1.26000/1.25500 area which has held price "supported" since Feb 2021. iv. With such a strong Demand level ahead of us on this Bearish journey, it is advisable that we remain conscious as any significant rejection of this level might incite a rally continuation. v. However, should a Breakdown of Demand level happens in the coming week(s); an opportunity to add a position at retest appears to be most appropriate. vi. CAUTION: a. Break above and retest of Fr1.280000 incites rally continuation b. Long term perspective is Bullish hence the need to be conscious throughout the course of this trade is VERY VERY important... Trade consciously! :) Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:4 Potential Duration: 6 to 10days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
2
GBPCHF | Perspective for the new weekEnjoying a 250pips run in our direction on my last publication (see link below for reference purposes) on this pair, It appears we have another trading opportunity here-with. The Pound to Swiss Franc (GBP/CHF) exchange rate holds steady as the price continues to respect Demand level @ Fr1.19300 in the last couple of weeks. Even though the Sterling continues to struggle against many of its peers, Chancellor of the Exchequer - Rishi Sunak unveiled a £4.6 billion relief packaged for the retail and hospitality sectors which "might" be a buffer as I am expecting an appreciation in value in the coming week(s) despite a possible Swiss National Bank (SNB) intervention reiterated at their recent policy meeting of 2020. Tendency: Uptrend ( Bearish ) Structure: Double Bottom | Breakout | Supply & Demand | (50/61.8%) Retracement Observation: i. We experienced a successful Breakout of Fr1.19500 (23rd Dec, 2020) followed by a rejection of this level twice! ii. Demand level @ Fr1.19500 has been holding strong for buyers in the last 13days as expectations of Higher Highs build up. iii. It is also worthy to note that demand level is holding a 50% retracement (with the possibility of hitting 61.8% open) of the Impulse leg after the Double Bottom @ Fr1.17200. iv. It is pertinent to state here that our "caution" tentacle MUST be on standby as we might expect retracement into Fr1.18560 for a buying window. Trading plan: BUY confirmation with a minimum potential profit of 220 pips. Risk/Reward : 1:3 Potential Duration: 3 to 7 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
EURUSD | MY PERSPECTIVE FOR THE WEEKRisks continue to shift in favour of an overdue correction lower on this pair as the need to take a very critical approach to find accurate trading opportunity in the following week(s) becomes very necessary. The appearance of a harmonic pattern at this juncture suggest that we might be experiencing a Bullish run to test 1.19000 with my sincere intention of observing how the price will react at this level in anticipation of either a further decline or Breakout and retest for a rally. Tendency: Uptrend ( Bullish ) and Downtrend ( Bearish ) possibility Structure: Trendline | Supply & Demand | Harmonic (AB = CD) Observation: i. Bullish Trendline continues to pave way for price action as indecision grips the market in consolidation structure since the beginning of the month (August 2020) ii. Breakdown and Retest of 1.19000 zone suggest an affirmative shift in direction. iii. Price making a Harmonic move to test Demand zone (1.17500) could be a clue for a "quick" buying opportunity in anticipation of a decline in the nearest future. iv. ABCD parameters; a. Impulse A-to-B in harmony with the potential C-to-D leg. b. The B- to-C leg is at 50.0% Fibonacci retracement of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext. of the A-to-B move. v. My perspective to this supports a Buy and Sell (depending on how price reacts if it gets to 1.19000 as I hope to see how European PMI will incite the market) opportunity on this one. Trading plan: BUY/SELL confirmation with a minimum potential profit of 300 pips (total). Risk/Reward: 1:3 Potential Duration: 1 to 5 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
USOIL | MY PERSPECTIVE FOR THE WEEKThe USOIL is one commodity that attracted my interest in the last couple of months as I have executed some profitable positions within this period of time hence decided to do a publication after noticing that the commodity remains on track to close the second straight week in positive figures as the price keeps bouncing off my Demand zone. Tendency: Uptrend ( Bullish ) Structure: Trendline | Supply & Demand Observation: i. The line drawn under pivot lows (beginning of the month - August 2020) emphasizes the prevailing direction of price. ii. Buying pressure appears to be building on momentum since price broke out of Key level at the beginning of the moth to make 50.0% retracement into zone with a positive signal of a possible rally written everywhere! iii. The spring of a Bullish engulfing candle from Demand zone on Friday teases me to look out for a sensitive Support level to hop in the rally in the coming week as I eye 127.2 for my target @ $45. Trading plan: BUY confirmation with a minimum potential profit of 200 pips. Risk/Reward: 1:2.5 Potential Duration: 4 to 10 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and NFTI takes no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment. NFT&I does not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
TVC:USOILLong
by darcsherry
USDJPY | MY PERSPECTIVE FOR THE WEEKWith 30pips against our direction since my last publication (see link below for reference purposes) on this pair, the price has found its way to complete a 127.2 extension to incite a reversal structure. It is worthy to note that the Japanese and US statistics headed in opposite directions this week to make the USD/JPY the only major pair to witness the Greenback appreciate last week. Tendency: Downtrend ( Bearish ) Structure: Harmonic (AB = CD) | Supply & Demand Observation: i. The Bullish run since the beginning of the month appears to be stalling at my Supply zone as those who took advantage of the run are doing quick sells. ii. Confirmation of a Harmonic move (AB = CD) might be a result of a rejection of my Key Level @ 106.500 for a decline. iii. ABCD expectations; a. Impulse A-to-B expected to be in harmony with the potential C-to-D leg. b. The B- to-C leg is at 50.0% Fibonacci retracement of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext. of the A-to-B move. Trading plan: SELL confirmation with a minimum potential profit of 300 pips. Risk/Reward: 1:4 Potential Duration: 2 to 7 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
AUDUSD - 50% Fib Rejection. AUDUSD - 50% Fib Rejection. The recent uptrend structure on AUDUSD had formed a great opportunity to utilise the Fibonacci Retracement tool. After dragging the tool from the swing low to the swing high, we can see that price is now rejecting from the key 50% level which could act as a strong injection of bullish momentum. With this being said, I am entering a long trade with a great R:R of 1:4. If price can reach my TP, it will result in +212 pips.
Long
by UnknownUnicorn8714085
GBPCAD | WEEKLY PERSPECTIVEWith over 170pips in our direction since my last publication (see link below for reference purpose), the British Pound appears to begin a new wave of Bullish run as it completes a 50% retracement at Demand zone (neckline) since Breakout occurred at the beginning of the month (July 2020). Tendency: Uptrend ( Bullish ) Structure: Double Bottom | Correction Observation: i. A correction into the neckline (Demand zone @ 1.69500) of my Double Bottom incites a possible uptrend continuation in the following week as price makes new Support.. Trading plan: BUY confirmation with a minimum potential profit of 300 pips. Risk/Reward: 1:2.5 Potential Duration: 4 to 10 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
NZDUSD | WEEKLY FORECASTA similar situation for the Greenback we have found here as a possible Breakout off of our Bullish Rectangle @ 0.65200 for a Bullish burst becomes feasible. Tendency: Uptrend ( Bullish ) Structure: Breakout | Bullish Rectangle | Channel Observation: i. 0.63800 level appears to be a respected Demand zone ( 500 retracement ) since the Impulse Leg in the last days of May 2020. ii. A Flat Channel is observed as price ranged between 0.63800 and 0.65200 throughout the month of June 2020. iii . A rectangle pattern where supply and demand are in approximate balance for an extended period of time followed by a Breakout is a sign we are looking for to buy. iv. Notice how Breakout of Bearish Trendline coincides with Breakout of Channel. v. Patience is hereby required as a possible correction before the rally is very possible at this juncture. Trading plan: BUY confirmation with a minimum potential profit of 300 pips. Risk/Reward: 1:3 Potential Duration: 1 to 7 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Nirvana! Forex Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and NFTI takes no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment. NFT&I does not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
AUDUSD | WEEKLY FORECASTAUDUSD follows suit! Tendency: Uptrend ( Bullish ) Structure: Breakout | Pennant | Support & Resistance Observation: i. A continuation pattern formed after Impulse Leg (flagpole), followed by a consolidation period with converging trend lines - the pennant - followed by a breakout movement in the same direction as the Impulse Leg initiates the second half of the Impulse. ii. Looking out for a long position after a significant Breakout from the Pennant pattern which might lead to a further Breakout of Resistance level @ 0.70200 level confirming bias. iii . The target point is established by applying the Impulse leg's height to the point at which the price breaks out from the pennant . Trading plan: BUY confirmation with a minimum potential profit of 350 pips. Risk/Reward: 1:3 Potential Duration: 2 to 7 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Nirvana! Forex Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and NFTI takes no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment. NFT&I does not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry