GOLD TURNING POINTHello traders
As you can see in the chart, gold is on 2 channels, one big bullish one weekly and one descending in daily.
I Believe general gold is bullish, and it got supported on a very key level with Fibonacci 0.618 level and channel , Ichimoko Tengensen, and bottom of the main big channel.
There is also a hidden bullish divergence in weekly and in daily on RSI.
This is just a theory and counter trading, so be careful.
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What is your opinion? Comment below.
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Goodluck.
Forextradingzones
Pound Dollar Long trade presented. Morning Traders
Here we have a GBPUSD traded on the 30M chart.
I trade this pair with a 2:1 risk reward strategy. Risking 2% a trade.
As you will see from back test data this pair has been very kind to me this year. Those stats are year too date!
A buy signal as just presented on the script I am using and I have entered the trade working to those stop loss and take profit parameters.
For more information on the script I am using please message me.
New trade on UJ Morning Traders
Working my H1 chart here and a new USDJPY trade has presented on the chart.
I work this chart with a stop loss and will follow the trend now until the next signal.
I have entered a tradingzone on the chart to indicate the potential of where this trade could head.
For any more information on the script I am using please message me.
Counter-Trend Scalp of GBPUSD First I strongly recommend you to look at my last idea which I relate it in here in order not to take the wrong path.
1. We're now at bottom of channel.
2. We have 2 AB=CD moves. ( pink and blue lines )
3. We need a retracement after this sharp dump. But remember ! It's just a retracement.
So if you wanna go long just scalp and put your stop some pips below the last LL.
I expect e minor bounce up from here to the middle or upper line of channel.
If it goes up it's just a ret and the total trend is DOWN. So be careful with your longs and manage FX:GBPUSD them well.
Be safe.
EURCAD ShortAfternoon traders
New York session has started and we have a EURCAD short presented on the charts.
Working the 30M chart here. Working to a stop loss and take profit target of 3:1 risk to reward. 111% gains on the back tested data year to date!
Data shown at bottom screen for your viewing.
For any more information on the strategy I am using drop me a message.
EURUSD AT DECISIVE SUPPORTEURUSD AT A DECISIVE SUPPORT
EURUSD started creating a swing lower lows from failing to break a resistance point at 1.21776 price level. This gave about 3 swing lower lows and bounce back from a support price level at 1.20786.
This had a bullish trend towards 1.21664 price level and fell back towards a decisive price zone. If it doesn't break it's previous downtrend at 1.20955 and we see and upward movement above 1.21168 open a short buy towards the Daily resistance.
Further movement in a bullish movement would be towards it previous high 1.21664, although price would react at for a short move at 1.21555, if no breakout, price would continue it's upward movement.
For More Information Contact RSTradeView via Facebook
US Dollar Index. Expected to move upYo traders,
Been a long time since i have posted trades.
Here is a one which i rarely trade but looks good for a setup.
US dollar has been very weak for a long time now and is expected to be weak going forward for the next few months with the printing of money taking place.
But looks like to fall down further there might be a pull back.
If you look at the charts the the price has approached and rejecting the weekly support.
RSI has also given a divergence on the daily TF giving a multiple confluence for a movement upward.
I will wait for a bullish close on the daily and look at 4HR chart on the daily before taking entries.
with Bullish indication on US index affects all USD pairs. Trade accordingly.
Please like comment and share for support
thanks
Madtradex
GBP/USD - Expected to move downYo traders,
This trade looks good to move down.
Based on my previous analysis for US index which shows a bullish forecast, GU seems to be in line with the same and looking to move down.
Price has reached the weekly resistance and has shown rejection (pin bar candle at resistance on daily). In the past we have seen the same rejection at this level.
Lets wait for the trend to break before it moves down
Thanks
Madtradex