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Consolidation-breakout

Gold Playing it SafeThis commodity is featuring for the first time on our TradingView blogs. Current setup: Gold is currently held in a long period of consolidation but above both the 50 & 200 simple moving averages. Conclusion: We need to wait out this consolidation period and take opportunities once we get a breakout. The pending breakout may be large in size due to the length of the consolidation. The bias at the moment is for a breakout to the upside. Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments! Sublime Trading
TVC:GOLD
by Sublime_Trading
EURJPY short positionMarket was producing an uptrend, however, market has been failing to break resistance (Wick rejection) There is also visible exhaustion on the bullish momentum and more bears are entering the market Entering into the market can be at turquoise line based on the wick rejection at the bottom Wait for a break and retest of area before entering the market When market moves 30+ pips in, move SL to break even Big opportunities in the market this week Happy Trading!
Short
by AnalysisCEG
"Good profits come to those who wait"My USDJPY trade idea has been in the making for the past 5 trading days, over a week now! Its important though that as a trader you are willing to wait for the right criteria to be met, and to only enter the market on your terms... not the markets. So this is a matter of stalking the market and reaping the rewards later. Ever since the JPY liquidity crash on January 2nd, the rising channel has supported USDJPY, this level has been strongly defended by the bulls, never more so than the past 5 days. I think the reason why is that if this level is broken, then there is considerable downside available to the bears, with little in the way of support. So... Onto the setup. You should able to see the point of interest highlighted as the yellow box, showing us the daily Inside Candle setup. This isn't just any inside candle setup however, as it has now stretched to 4 inside candles inside the mother bar! This level of consolidation simply means the breakout could be even more powerful. Because the Inside Candle Pattern is located on a key market level, it gives it relevance, I wouldn't be interested in trading an inside candle setup in the middle of nowhere with little market relevance. Also it gains further importance due to being formed on the Daily time-frame. All setups and candlestick patterns formed on the daily chart are significantly more reliable than lower time-frames. To add even more confluence to the trade setup, you can see some further resistance that will be broken by the blue trend-line, any candle breaking the inside bar high, will also break this level. Equally any break to the downside breaks the long term trendline from 2nd January, simply meaning we can expect a big move following any breakout. There are two ways to trade this setup. The aggressive approach would be to take your entry long when price breaks the high of the mother bar, or a short when price breaks the low of the mother bar. The conservative approach would be exactly the same but you only enter the trade once the candle has actually closed - this avoids the potential of a false breakout but also means you might miss out on some potential pips. The targets for long trades will be the top of the rising channel. The targets for short trades will be the next Daily Key Level around 109.000
by JoelWarby
1
Gold daily forecast - Weak Rebound May Push Price LowerIn my previous analysis on gold, the price indeed has rebounded off from the demand zone around 1292 and climbed highest to 1297. However, the rebound was too weak and shallow which may cause the price to pull back and retest the low once again. The price has been consolidating upwards, forming a short-term rising channel which seems to be completed soon. If the price can break below the channel, we can look for a short-term sell towards the demand zone below.
FX:XAUUSD
by AlgoVenture
STRATBTC Momentum AnalysisI beleive that the bearish momentum has now been exhausted, and a bullish reversal is likely because the macro level analysis of STRAT BTC shows a clear parabolic, bullish move, followed by a consolidation trend, down to the 0.0002 satoshi level. The 0.0002 satoshi level would be my ideal entry point, however on the smaller time resolutions there are also some local support zones which could be used. A close below 0.0002 satoshis could also indicate that the bearish trend is not yet over, i would be very cautious entering a long below that zone. Not an expert, not financial advice. Biffy
SLong
by Biffy
Big Picture View on AUDUSDWe can see the impulse move to the downside on the left of the chart, indicated by the first pink arrow. Then there was a consolidation structure formation which completed 5 waves and broke to the downside. This indicates that we are in the second impulse move, indicated by the second pink arrow on the right. Based on the initial impulse length, we can expect a fall to around the 0.5600 mark which is still a long way down! Obviously this will not go in a straight line and there will be many trade opportunities on the way down on smaller time frames. Check out our trading signal service to get the exact entry, SL and TP levels for our trades. Happy Trading! Linton
Short
by Linton_White
USD/CAD: Is the Worst Over? USD/CAD has had a very negative start to the year. For a while, CAD was actually the best performing currency in the world, year to date. But has the pair finished its down trend? Since Wednesday, there has been significant consolidation and a stop in the decline. It dropped as low as 1.31804 before climbing back up slightly. I think given the significant level of 1.3200, which the pair has been testing around over the last 3 days, the down trend may be over. I would look for a slight retracement back towards the 1.3200 level before the pair reverses and begins a new up trend. Going back a few weeks, this pattern is actually quite similar to the pattern formed from November 20 - November 28 2018. After an up trend (albeit a short one), the pair reversed and began a down trend, before hitting below the 1.3200 level. Once around that level though, it bounced back upwards, retraced back down to the level, and then broke out to the upside. I wonder if something similar will happen this time. I would suggest placing a buy order on the retracement back to 1.3200 with a stop loss of 1.3160 and a take profit of 1.33144, a level of resistance multiple times since November 2018.
Long
by BinaryPairing