Get started

Swingtrader

Resistance at 1800For the 4th week Gold has attempted to break above 1800 and has yet again been met with resistance. The week started with a push to the upside which broke the 1800 psychological level on Tuesday with price reaching its peak on Wednesday around 1823. A rude awakening for the buyers followed on Thursday with a sharp turn that sent the price back below 1800 closing the week with a 3rd doji on the weekly timeframe. Should selling pressure remain at the level and we begin to see Dollar strength in the market in the near future, the short term narrative for gold may be negative.
FOREXCOM:XAUUSDShort
by Swiing
NZDJPY: The Next Bearish Wave 🇳🇿🇯🇵 Hey traders, NZDJPY broke and closed below a major wide demand cluster on a daily. The broken structure 83.8 - 85.0 turned into resistance now. It looks like the pair is quite oversold at the moment. The market will most likely retrace to the underlined area and a bearish wave will initiate then. Goal will be a rising trend line, matching the last higher lows. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
8
Trend Reversal?Last week price was met with a strong reaction at 0.6500, an important level for KIWI. Last time price traded at this level was in August after which a 900 pip move to the downside followed and a bottom was later found in October around 0.5500. Since then, buyers have been in charge and have brought prices back to 0.6500. For the first time since October we have now seen the market close the week with doji candles for 2 weeks in a row. Also, for the first time since the uptrend started, we saw Thursday close with over a 100pip move to the downside (a big move for KIWI). This came following Tuesday's rejection of 0.6500 indicating the presence of sellers in this zone. A strong dollar would favor sellers to step in and push prices lower.
Short
by Swiing
4
1800 Still holdingFrom the last update a week ago price was wedged between support and resistance below 1800. On Tuesday we then saw price spike to the upside triggering buy orders as well as taking out any stop losses above the zone. Price consolidated above the 1800 zone until Thursday enticing even more buyers to go long. A strong reversal then came on Thursday which saw prices drop back below 1800 and the week closed on Friday with prices back below 1800 where it started the week. If the level continues to hold and we see Dollar strength return in the market this could very well trigger shorts on Gold and we could see lower prices in the foreseeable future. An Engulfing close below Friday's low around 1774 will be an important level for bears to watch.
FOREXCOM:XAUUSDShort
by Swiing
2
Breakout in PlayFrom the last update a week ago price was approaching the end of consolidation inside the triangle. On Tuesday we then saw price 'Fake Out' to the upside triggering buy orders as well as taking out any stop losses above the triangle. Price consolidated above the zone for 2 days enticing even more buyers to go long. A sharp reversal then came on Thursday which saw prices drop back into the triangle and proceeded lower with a breakout to the downside. If the June low is taken out we expect the next target to be around the 1000 area which is a psychological number. As for pullbacks and opportunities to ride the trend, history shows that during trends, Etherium, just like Bitcoin usually offers shallow to no pullbacks on the high timeframes therefore looking at lower timeframes such as the M5, M15 on M30 may offer opportunities to capitalize on the move.
BITSTAMP:ETHUSDShort
by Swiing
4
NZDJPY: How to Catch The Next Bullish Wave 🇳🇿🇯🇵 NZDJPY is trading in a long-term bullish trend. Since February, however, the price is stuck on 87.0 - 88.0 structure resistance. To catch a bullish wave, wait for its breakout. We need a weekly candle close above that to confirm the violation. A bullish continuation will be expected to 91.3 level then. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Long
by VasilyTrader
8
EURNZD: Your Trading Plan For This Week 🇪🇺🇳🇿 EURNZD is trading within a falling channel on a daily time frame. For the last 2 weeks, the pair is consolidating, though. The price formed a descending triangle formation - a bearish accumulation pattern. To catch a bearish continuation, wait for a bearish breakout of 1.673 - 1.679 horizontal support. After a daily candle close below that, a bearish continuation will be expected. Goals will be 1.66 / 1.65 Be patient and wait for a breakout. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
8
GBPUSD: Long-Term Technical Outlook 🇬🇧🇺🇸 GBPUSD is trading in a global bearish trend. The price perfectly respects the boundaries of an expanding falling wedge pattern on a weekly. Reaching its support, the pair started a correctional movement. The market is already growing for more than a month. Ahead is the resistance of the wedge. Depending on the reaction of the price to that, I see 2 potential scenarios: If the price respects that, a new bearish wave may initiate. If the price breaks and closes above that, it will most likely lead to a continuation of a current correctional movement. I will post an update once I see a decent confirmation. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
12
AUDJPY: Very Bearish Outlook 🇦🇺🇯🇵 AUDJPY looks very bearish to me: after a strong bearish wave, the pair was consolidating within a narrow horizontal trading range on a daily. Yesterday, the price finally broke and closed below that. I believe that it will push the market to the next support. Target - 90.55 For entries, consider an occasional retest. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
2