Short on XAU USDBase on Fibonacci and wave theory, XAU USD reached a critical height of 61,8% retracement.
It as also reached the line the past major summit trend line and the past major bottom trend line.
Furthermore, it as reaches a critical past resistance ( The bigger blue line ).
Due to these multiple factors together, I believe XAU USD should go short.
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Leave a comment if you disagree or have any question!
Resitance
eurusd continues downtrend high reward to risk short opportunityIf bears can hold the market below the main
inflection zone highlighted in red, the expectation
is a test of the 1.1080 support area. This sets up
a bearish opportunity with around a 3:1 reward to
risk potential. Stops should go behind the 1.1240
swing high invalidation point.
GBPJPY Channel breakout with divergence confirmationIf the price breaksout of the bullish channel with an area of consolidation or a pullback to the previous SR zones for a last kiss we can expect a sell. If not, the price could continue to make higher highers and get rejected at the trendline. Divergence can be seen on the MACD 4C confirming the halting trend.
CADJPY ShortI will be looking for a movement below the green support on Monday before placing a trade. Overall this pair is trending down and it has pulled back to resistance. I believe this is a good time to short with the proper signals. I will be paying close attention to RSI and MACD. I have 3 TPs shown. The green line is long term support on the weekly. Looking like a good setup though.
USDCHF: BATThe Bat pattern appears on FX:USDCHF , which will finish its D leg soon. This gives a signal to go short. Moreover, there is a resistance level at 1.0008. Price respected that level few times and it is more likely it will do it again.
T1 - 38.2%
T2 - 61.8%
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