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Going To Hell?...Please say hello to my girlfriend when you arrive! Haha.
We could see a massive drop from our 1.36 level as shown on the chart it was used as very strong support twice not so long ago, then it finally broke this support and is now coming back up to test 1.36 as resistance before hopefully a big drop. You can also see we are clearly in a downtrend with the GBP forever weakening against the USD.
A good thing about a strong level like this is that you can keep a tight stop loss (30-50 pips) because if price does push back above this level then bulls could push price suddenly very high, but if price respects this level then bears could push price to hell.
I hope this helps, message me if you have any questions.
Potential 200 Pip TradeWill 1.16 hold or will bears push price down to 1.14? Both are key phycological levels which means they are very strong and have both been used as key support and resistance levels in the past, this is also the weekly timeframe and as we know levels on the higher timeframes are stronger.
If we end the week below 1.16 then a 200 pip drop is expected, although the USD is very strong this week we have just today had weaker than expected unemployment figures which is bad for the strength of the USD, this might get cancelled out though by better than expected GDP figures.
Next week we also have NFP and the question over raising the debt ceiling in the US, if this is not raised then expect USD to sink.
So i am short in this trade but keeping a close eye on it.
If you have any questions please just ask.
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AJ126 : GOLD TRADING SEPTEMBER
Overbought - STOCHRSI(14) = 80.516
Overbought - Williams %R = -11.747
Less Volatility - ATR(14) = 4.4036
Buy - RSI(14) = 61.981
Buy - STOCH(9,6) = 69.319
Buy - MACD(12,26) = 2.380
Buy - ADX(14) = 30.455
Buy - CCI(14) = 126.4380
Buy - Highs/Lows(14) = 3.4928
Buy - Ultimate Oscillator = 61.871
Buy - ROC = 0.696
Buy - Bull/Bear Power(13) = 8.3020
It's Time. It's time for a correction before the real correction and GME will prepare for it. Not only will hedge funds get the full package flash crash but it will also include short sell margin call. Bullish on GME but need one more retest on the SMA which may happen within 7 daily candles. Notice how every bounce off SMA it proceeds to penetrate every barrier of resistance in the following week or next. $AMC (Ahyaya My Calls) failed to hold fort at $50, I wouldn't feel safe with GME camping a tent at $200. Target mid 180 zone into 160 and a quick bounce off previous low. S-Tier triangle breakout formed this way. Target $300+ but first stop $150.
Tldr; Weakening momentum at $200 level = flush
Current positions: GME 185p entered 9/14 EOD
USDCNH CRITICAL NEWS ALERT Tomorrow morning the USD will see massive movement off job numbers dropping. Personally I am short on USD. Long on GBP and CAD against USD. CNH has seen 200 ema cross over 50 ema so we will see the movement down. Price has also came to retracement on 4hr time period. BIG Ws. Stay tuned will be updating tmr when news drop 8:30am EST New York session