There is a clear ascending triangle on Gold right now with a strong resistance zone. Now we play the waiting game and see if there will be a breakout and retest. After that, we can take a long position.
🔸 4H CHART EXPLANATION: . . 🔸 Price has been moving on a range for a while. . 🔸 Now, it is breaking the Support Zone. . 🔸 It has potential to make a downside move towards the Ascending Trendline. . 🔸 Will look for a lower timeframe bearish setup. 🔸 DAILY CHART ANALYSIS:
Hypothetical scenario: (1) Entry @ 0.64485 (Buy Limit) (2) Stop Loss @ 0.64340 | 14.5 pips (3) Target @ 0.64810 | 32.5 pips (4) R:R = 1:2.24 Stay tuned for the updates. Follow and leave a like if you liked this idea and want to see more! *DISCLAIMER* This post is solely for educational purposes and does not constitute any form of investment / trading advice.
One formula to conclude my view ->>> From an hourly chart 's perspective Inverse head and shoulder + build-ups at the previous resistance + symmetric triangle = Another bullish upward move It will happen in less than 2 weeks , lets see GOLD is KING.😎
🔸 4H CHART EXPLANATION: . 🔸 Price did an upside move and started loosing momentum once it faced the Resistance Zone. . 🔸 We observe that it has moved on a range, which has been recently broken. . 🔸 It has potential to make a downside move. . 🔸 Will look for a lower timeframe bearish setup. 🔸DAILY CHART ANALYSIS:
Price is currently consolidating within a previous major support area, where we could consider opening longs assuming it closes above it. The next challenge we are faced with, is the current parallel channel which is more visible on the hourly time frame. I'm hoping to see the price break out of the channel and continue to the upside, retesting our long term...
POTENTIAL DOUBLE BOTTOM BREWING. BUILDING A CASE FOR ENTRY. (CTS) WAIT PATIENTLY FOR PAPERBOIFX TO DELIVER A SIGNAL.
expecting more downside but looks a nice setup for short term buy
On GBPUSD there is a clear parallel channel structure. It's now at the bottom, meaning it might move upwards. It can also breakout of the pattern. In this case, confirmation is really necessary. That's when we wait for a retest. Let me know your thoughts!
🔸 4H CHART EXPLANATION: . . 🔸 Price bounced at the Confluence Zone between the Resistance Zone and the Descending Trendline. . 🔸 It has also broken the Ascending Trendline. . 🔸 It has potential to make a downside move. . 🔸 Will look for a lower timeframe bearish setup. 🔸DAILY CHART ANALYSIS:
Hi guys, here is another trade I've just launched ! On FOREXCOM:EURNZD we have a clear short as we've hit a really strong resistance. TRIX is negative on H4, and just turned out to be negative in daily so it indicates we should sell ! It's just about time it turns negative in H1 Tell me what you think ?
The GBP has formed a double top at the touch with the 200 MA. Price is now wobbling on the Neckline. If a clear break of the Neckline occur we'll be looking for short positions aiming the yellow zone.
It is a little hard to lay down a road-map for the US Indices given the uncertainties surrounding the whole coronavirus situation, therefore best to break it down piece by piece - week by week. A little hard to try and guess what will happen in a more longer term horizon. For now I see a short opportunity as we complete a 1-5 | A-B-C Cycle. Hypothetical...
This is another set of early long setup scan results from my pullback strategies. Remember - A good trade is - Definable, Manageable and then Profitable. So, Define your Risk, Manage your Risk and eventually you will be profitable. Good Luck. If trading options - The Vol Skew can be your best friend. Choice of Strike defines your Profitable Trades.
Stark correlation between this pair and OANDA:CADJPY . (view related ideas below) Hypothetical scenario: (1) Entry @ 110.200 (BuyLimit) (2) Stop Loss @ 109.940 | 26 pips (3) Target @ 110.780 | 58 pips (4) R:R = 1:2.23 Stay tuned for the updates. Follow and leave a like if you liked this idea and want to see more! *DISCLAIMER* This post is solely for...
🔸 4H CHART EXPLANATION: . . 🔸 Price broke the Descending Trendline. . 🔸 It has bounced at the Support Zone. . 🔸 It is moving on a range, which we are waiting to be broken to the upside. . 🔸 Will look for a lower timeframe bullish setup. 🔸DAILY CHART ANALYSIS: