Gold tested and rebounded from the 200 DMA which has proved to be good support in previous market bull runs (2009-2011). The current pull back was on the back of a strengthening of the US$ and renewed focus on US rate rise. This is likely to unwind next week after a less than blockbuster US NFP. QE tapering from EU was also a false statement. Clear case where...
*Idea Daily Support at 1.1141, watch for the bounce either off the daily support or trendline
Gartley on 4hr chart Trade with setups
USDMXN it's been really sensitive to political rumors of USA presidential election, this take the currency to almost 20 MXN last week, price is currently in a correction, looks like it's going to resume the long movement, $19.14 zone look like a strong support, let's see how it behaves.
2 potential setup EURNZD butterfly and gartly 4h, sell @ 78 for gartly sell @ 127 for butterfly target 38.2 for everyone any ideas ????
PAIR'S BOUNCED FROM ITS DAILY/WEEKLY SUPPORT AND MAKING A NEW LOWER HIGH. EXPECT PAIR'S WILL CONTINUE TO GROW UP TOWARDS 73.943.
My view on EURUSD is that it'll make a C wave in lower degree to complete this correction and we'll have another impulse up until 1.1300 area. This can be more complex than a simple ABC correction, in case it gets more complex I'll be posting updates.For now I'm looking to buy only.
This is a sell setup for me.We have a 1hr impulse followed by an abc correction so far,it may be a more complex correction we dont know that thats why its better to wait for the breakout until you sell. If you are an aggressive trader you can sell the 0.618 fibonacci level with stops above 0.7370, which would give you a great risk reward ratio but with a greater...
USDJPY had an impulse down and now its correcting and it looks like this is a triangle pattern, in case it is this would have to make another wave up and then it would complete the 5 wave structure which would lead the breakout to the downside and ill be targeting 95.50 and potentially lower.
Wait for the breakout to the downside before shorting. Don't miss the dip to buy as well.. Great stock to keep in portfolio. It will not go straight away to break the top, but that's the cheapest you might get 'infy'
Pair's remain within the descending channel, I believe in the possibilities of resuming further downwards. But observed a quite strong upward correction, likely to grow up to 102.65 and could extend to 104 (medium term range) Worst scenario, if the assumption is correct then stop order will be placed accordingly shall the pair's trading up until 104 -105. USDJPY
EURCAD tested resistance above twice and finally came down with a weak candle. Look for downside breakout around yesterday's low, the target is around 1.4520. Be careful about the 100% fib extension at 1.4580.
Long from 1.4775 Fib confluence to the PIP with 618 retracement and fib inversion 1.27. The trend is up and we are also at previous structure