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GOLD -XAUUSD BIG MOVE COMING UP!!!! (My thoughts and analysis)As we wait for the retest of the previous broken structure at 1906.92, the market is reaching the high at 1965.47, then retesting the broken level (1906.92), and the big move to the upside will most likely happen. Am looking on getting in on the retest trade on the daily after resistance has been formed and afterwards join in on the move to the upside to the high (green line) at 2075.92 which may be the next resistance gold may face in 2021.
FX_IDC:XAUUSDLong
by joebakwa7
3
COULD GBPUSD STILL BE GOING UP? Analysis (my thoughts)The market has broken a powerful resistance area at 1.34820, not once, but twice. The first attempt, the bears brought the market down to the trend line and the 2nd attempt, the bulls took the market up and a clean break of the resistance area was seen with a rush up to 1.37000. After this, the market has retested the previous broken level at 1.35690. The initial push up (yellow line without the arrow) may still occur and the market may be headed further up to 1.38015 (the green line) which is the next resistance that this pair may face on the daily chart. Please comment your thoughts on this pair as well.
Long
by joebakwa7
Game Plan #forexDespite taking a hit today I am holding the gbp/usd long position from 1.3454. The breakout trade is still intact for now so no adjustments to be made. A close below the 1.3429 level is where the breakout trade would be a failure and there could be a larger reversal trade back into the range. Net volume hasn't been strong which isn't helping my confidence in the underlying strength of the trend but price always overrules. Hopefully support holds and the currency continues to the upside.
by IngenuityTrading
Game plan for the coming weeks #forexThe eur/aud has broken below its range that has held for 6 months. The trend is still bearish as long as price remains below the 1.6150 area. Above that area we would be looking for a larger reversal trade back into range. I am keeping an eye out for how the net volume behaves. We have broken below the range but the best breakout trades as usually come with expansion in net volume in the direction of the breakout. Right now the net volume is weak so how that behaves along with the price over the coming weeks will determine whether the breakout trade holds or if we will be looking for a reversal
by IngenuityTrading
SHORT SELL OPPORTUNITY IN GBP/AUDREASONS- 1) Daily & weekly trend down as per 200 ema and ichimoku. 2) Upper trendline likely to act as resistance and many traders will book profits there and many will open short positions there. 3) Many newbies are likely to enter after seeing a upside breakout hence fueling the sell orders when they get stopped out. 4) We could have entered on the horizontal resistance but it's so obvious that stop hunting may occur. Kindly trade at your own risk. Good Luck ^_^
Short
by noobieYETpro