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XAUUSD 4hour Analysis October 17th, 2021Gold Bearish idea Weekly Trend: Bearish Daily Trend: Bearish 4Hour Trend: Bullish Trade scenario 1: Higher timeframes point toward gold being very bearish and so does the rejection we just saw near our 1800.00 resistance level. Two ways to enter short on gold from where price action is. Either enter short on the next lower high below 1800.00 or wait for a break and retest of 1765.00 with a lower high below. Trade scenario 2: For us to consider gold bullish we would first need to see a break of resistance near 1800.00 with a higher low above.
FX_IDC:XAUUSDShort
by ForexLeague
1
USDJPY Daily Analysis October 17th, 2021USDJPY Neutral Idea Weekly Trend: Bullish Daily Trend: Bullish 4hour Trend: Bullish Trade scenario 1: UJ is overextended as sh*t… we need to see our next higher low above 113.000 to confirm a bullish continuation. If this happens we can consider long opportunities to new highs. Keep in mind price action will remain fairly bullish as long as we are above 111.500. Trade scenario 2: For us to consider UJ bearish we would need to see a break back below 111.500 with a lower high below.
by ForexLeague
AUDJPY 4hour Analysis October 17th, 2021AUDJPY Neutral idea Weekly Trend: Bearish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: Overall we are extremely bullish on Audjpy but we are clearly over extended on the 4hour and we are near a major resistance level around 85.000. How price action reacts at this level will determine where we are headed for the week. Ideally we can spot a pullback to 83.250 with a confirmed higher low above. We can consider long scenarios at this point. Trade scenario 2: For us to consider AJ bearish we would need to see a break below support around 83.250 with a lower high below.
Long
by ForexLeague