Bet on the support reboundThis trade aims at the short-term rebound from the historical low. Since June 07, short-sellers initiated a selling force to test JD's the 52-week low. The price was driven down,but no volume followed. However, when the price was reaching the 52-week low, there are people collecting the dimes, on June 16. Maybe the short-sellers were covering here. I think it is a good bet on a short-term rebound.
Here is my plan:
1. Stop Loss at 19.
2. Profit taking at 23 or Time Exit in 5 days.
Higherlow
Higher low suggests move up from hereLooks like that higher low is confirmed, we should move up from here. I doubt we will make a higher high at this time so be careful when we start getting close to 3k again.
GBPJPY 4 HOUR LONGPRICE MAKING HIGHER HIGHS AND HIGHER LOWS INDICATING THIS UPTREND IS WELL INTACT. TRENDLINE IS ACTING AS A GOOD SUPPORT SO IF WE GET A PULLBACK INTO THE TRENDLINE/189.000 THEN THAT WILL BE A GOOD LEVEL TO GO LONG. IF PRICE BREAKS RESISTANCE THEN THAT WILL ALSO BE A GOOD CHANCE TO GET LONG/ADD POSITION
CADJPY - a little retracement before moving further up ?CADJPY has reversed the trend and made a considerable move up all through the day. RSI is overbought now and it is probably exhausted and gasping for breath. We might see a +- 0.382 retracement into previous structure before rallying into the minor support level on the daily chart.
#Gold hard rejection at "Golden Cross"The "Golden Cross" right in the PRZ (resistance zone) pushed Gold lower. The overlap of 61.8 and 161.8 acted as a wall on Gold attempt to cont. bullish move. The recent PA is in line with the overall bearish trend. However, the breach of 1146 hasn't happened yet.
Since Gold made a new high, this Higher Low could show that 1131 was the bottom.