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Keylevels

Pullback Will Determine What Happens Before Swing Trade ReadyPotential bearish swing trade setting up for Gold! On the monthly, a bearish doji has formed and the RSI is now overbought and curving. So the bearish swing trade will happen. Just have to be patient for it. For now, the market is having difficulty breaking the daily SR level at 1489.61. The big boy breakout will last week will get a correction before we find out what happens next. We're still in a big consolidating range, so have to wait and play this out patiently until the market akes a full decision where it wants to go and signal for next month. So let's see what happens: BULL TPS: 519.70 1527.43 1535.18 BEAR TPS: 1508.48 1502.88 1496.92 1489.61
FX:XAUUSD
by NikaJourney
Not Going To Go Down Too Much FurtherI missed the trade setup with the bearish harmonic last week. Shame on me. Bad Nika. Now that it's almost over since the trade is sitting at a daily SR level with rock bottom RSIs on the 4hr, daily, and monthly, it's time to say buh-bye to the short and get ready for potential trade setups for next month. On the monthly, we have a doji formed at the bottom of the bearish trend sitting on the daily key level and the RSI at rock bottom. I'm looking for the setup for a swing trade this week or the bull run to begin. I'm patiently waiting for the market to make its move. Here are my TPS for now: BEAR TPS: 0.89453 0.89155 [b [BULL TPS: 0.89873 0.90132 0.90529 0.90892 0.91256
Long
by NikaJourney
Two Fresh Supply Levels for Sell Position as a Continuation For the long terms, as we can see on the W1 chart on the left side of the chart, the USD/JPY tends to reach the demand at the bottom. On the H1 chart, we can see how the price creates 2 fresh supply levels above. Each one of the supply is a potential level for continuation sell trade. I'll sell at the supply above and the stop loss will be few pips above this level, If the price will break the supply and hit the stop loss order, it indicates the price on his way to reach the supply level 2. In that case, we can look for a price action setup for intraday buy position and the final target for this buy position will be the supply level 2 at the top. Supply level 2 is the next level where i'll try to sell again as a long term position, The target for this position will be 102.50 zones.
Short
by the5erstrading
2
7:1 Risk Reward Short To Major SupportYeah, so the chart most likely tells more than words. But, anyway, the last week closed as a bearish engulfing on a daily chart, and I expect this to be just a retest. From swing high to swing low drawn fib retracement shows that the price is sitting on a 61.8 % fib, which gives us an excellent risk to reward to this trade as the stop loss is just slightly above it. Major support is most likely to be tested before the pair decides which way it will continue going.
Short
by Keylevelfx
Potential trade setup: EUR/GBP analysisPrice has tapped the 76.8% retracement line on a bigger time frame at the 0.89400 with last week candle closing as a spinning top hinting that there could be a reversal due to a slowdown in momentum of buyers however with this week candle looking like it could close as a bullish candle what would confirm a reversal is if this daily candle closes below 0.89302, what would invalidate this entry is if weekly candle closes above previous high to confirm further upward momentum.
by danresdidualfx
Big Impulse Is Signaling Retracement Coming SoonSince I've been gone, gold decided to shoot for the moon. However, there looks like there was no pullback of any kind since its take off. The stutter step it did last week could be signaling the retracement is about to begin. So let's see how far will gold move for a big retest or something more. BEAR TPS: 1337.50 1326.14 1319.26 1311.11 I have to wait a little longer to determine the BULL TPs fully. For now, I'll begin these TPs at 1326.14 and post new ones if it breaks that daily SR level: BULL TPS: 1335.26 1342.28 1357.17 Will continue to update this one more as the week continues. For now, I'm looking for the tumble down.
FX:XAUUSDShort
by NikaJourney
Continuation to The DownsideOverall move is still bearish. But what we're looking at right here with this mini trendline is confirmation of a continuation to the downside. I only see two possible areas where it can still bounce up before rolling back down as a swing trade. I looks like a possible double bottom formation could happen to create the bottom of a bearish harmonic, then continue the short. Or it can shoot back up close to the overall trendline before returning down. And YES, I do believe we are going to see a return to the weekly level for my max TP. BULL TPS: 0.94094 If breaks through... 0.95180 for bearish harmonic 0.95521 to prepare for next drop BEAR TPS: Based from current trendline at price... 0.94527 0.94227 0.93688 From the possible harmonic... 0.94904
by NikaJourney