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Nakedchartanalysis

USDX TRADE IDEAHi all from the weekly chart, the price high and low are almost retracing 0.618%. Additionally, the Federal Reserve is aiming to lower inflation to 2%, thus we had a pennant pattern break low, which I see as contradicting. I therefore expect to see a cpi y/y below 3.3 in this week's upcoming release of the CPI data, which could result in strong dollar. Therefore, I am targeting the 1.618 fibo extension with my buy stop on the daily chart. Let me know what you think In the comments! **My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading skills** Thanks a lot for your support
VANTAGE:USDXLong
by mytw0cents
XAUUSD TRADE UPDATEHi all following the breakout from level 1942.1 gold has reached the fibo extension of 1.618. So I'm looking for a pullback to the last breakout level to continue shorting as long as the price does not close above the level where I'm comfortable to take a risk. Let me know what you think In the comments! **My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading skills** Thanks a lot for your support
OANDA:XAUUSDShort
by mytw0cents
XAUUSD WEEKLY TRADE (UPDATE)After a few days, daily support at 1924 was broken. So, what's next? In my opinion, there are two important supports on the daily and weekly charts. As a result, a break from those levels may result in additional decline. On the other hand, if rejection occurs, the next resistance will be in 1941. Keep an eye on the weekly trendline as well. Let me know what you think In the comments! My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading skills. Thanks a lot for your support.
OANDA:XAUUSD
by mytw0cents
XAUUSD WEEKLY TRADE IDEAHi all.. This is my forecast for xauusd; I see resistance at 1973.160 after many rejections on that level. On the high low structure, I believe we have a double top pattern. so I'm shorting gold for a 50% retracement as long as the price doesn't close over the 1987.530 level. Let me know what you think In the comments! My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading skills. Thanks a lot for your support.
OANDA:XAUUSDShort
by mytw0cents
USD/JPY REST STOPUJ has been bulling very hard as of lately. With the never ending rate hikes pushing up the price of the dollar, and many foregin countries defaulting on their national debts, it is midnight in lots of places but it seems Powell is still squuezing everything he can out of the dollar. Technically speaking we see here a very nice looking rising wedge type pattern developing on the H4. although we are in a CLEAR UPTREND, UJ has seemingly overstepping its bounds and should need some type of rest stop before over taking this resistance, if it is to do so. There is a potential that the dollar could break through this very strong resistance level but my inclination is to sell this pair down to earth and prepare for it to push back upwards again.
Short
by NakedTrading4U
USDJPY BEAR SWING RESUMEEOur USDJPY bear swing paused about 300 pips ago and created a temporary bottom from which we took short term buys from After a nice run of 200+ PIPS we are EXIT the shorts. Now USDJPY should resume its bear swing on the route to new lows. From a technical aspect this retracement has come up to retest the overall trend at the 38 Fib level. Normally I would be expecting a further correction, up to the 50 area but under these economic conditions I expect USDJPY to resume its bear trend at a much more aggresive rate than most trends. Right now the "Carry Trade" is about to work against the dollar, as outflows continue to pull USDJPY down. Make no mistake there is a LOOONG way for this pair to fall still. We are emtering longs with stop losses above the recent "Lower high" If for some reason the bullish momentum were to resume, I would still be looking to SELL USDJPY around the 50 fib or 134 area. Theres not much to update on the fundamentals. The US economy is still heading towards recession faster than the FED RESERVE can control. Yen has a long way to go before it becomes "overvalued" in this environment currently. USDJPY sells will always be the safer option for the near term.
Short
by NakedTrading4U
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