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Trendfollowing

Gold Holding Above The Weekly 50SMAGold has created a pattern on the weekly timeframe where it has been using the 50 simple moving average as support and appears to have done so again last week. Price did not exactly touch the 50sma but came close and used that zone as a support level. A bounce off this area does not confirm that we will see a continuation to the upside but it prepares us in case price does continue to climb. The all-time high at $2075 at the beginning of August saw the start of a decline which turned into consolidation and then price broke down through the consolidation support level. It was then that the weekly 50sma was used as support. If price does start to resume the uptrend then we have the $2000 round number above price and the all-time high for price to break. These are strong levels of S/R that may prove difficult to break the first time. Gold has the tendency to trend long-term but with periods of consolidation and deep pullbacks along the way up. Gold just needs some patience while it gathers momentum. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:GOLDLong
by Sublime_Trading
S&P Is Up And Away!The S&P is off to a flying end of the year and if the momentum continues to push price skywards, then we may even see a bull trend through 2021. Price went into consolidation from September 2nd and created a fake breakout on November 9th as it attempted to break out for the first time. Then again on November 16th, price gapped up and broke out of consolidation and because of the momentum, price appeared to be on its way up and remain out of consolidation. This optimism was shortlived when price reentered back into the consolidation zone. On the third attempt on November 24th, price broke out once again and has since remained out of that zone and appears to be forming a linear move to the upside so far. We now want to see a pullback to a level of support and a break and close above a previous high to confirm we are in a bull market and this should give us the confidence that the trend will continue. The 20 simple moving average is just below price and if that can hold as support then we should see a linear trend develop. We are long in both UK and US stocks and will remain that way unless the S&P indicates the trend is over. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading
USDZAR top-down AnalysisHello everyone, if you like the idea, do not forget to support with a like and follow. on WEEKLY: USDZAR is sitting around strong demand in blue and rejecting a green trendline so we will be looking for trend-following buy setups on lower timeframes. on H1: USDZAR is forming a trendline in red so we are waiting for a new swing to form around it to consider it our new trigger swing. Trigger: Waiting for a momentum candle close above the gray area to sell. and until the buy is activated, this one would be overall bearish and can still dive inside the blue zone. Good luck!
Long
by TheSignalyst
2
EURUSD - Bullish Continuation HigherSo we finally violated the 1.20 level on EURUSD which allows me to make a prediction that price is likely t go higher. IF we go higher then the next level that may prove to be resistance is from way back in 2018 & ranges from 1.22's to 1.25's Look for a period of relief before the next extension higher, so either a sideways tight consolidation or a retracement into previous structure resistance that may now act as support back at the 1.20 level. As always feel free to leave me any questions or comments below & of course if you want to share your idea that is great as well as it will help members of this community learn about different ways to look at different charts. Wishing you guys a great week! - Akil
Long
by Akil_Stokes
6
GBP/JPY BUY IDEAHey tradomaniacs, welcome to a new free trading-setup. Note: This is meant to be a preparation for you. As always we will have to wait for a confirmation. GBP/JPY: Daytrade-Preparation Important: Obviously risky due to brexit-talks. If Price closes abpve resisrtance I`ll give it a try as JPY continues to be weak. Market-Buy: 139,810 Stop-Loss: 139,400 Point-Of-Risk-Reduction: 140,200 Take-Profit: 140,750 Stop-Loss: 41 pips Risk: 0,5% - 1% Risk-Reward: 2,26 LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
Long
by Trading2ez
1
USD/CAD SELL IDEAHey tradomnaics, recent pullback gives us a nice chance to short after the clean rejection of the key-resistance and trendline. Price is also not able to move back above the HVN and PoC of the day which is an evidence of another drop. A move below the support-line could cause momentum due to bearish confluence. LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
Short
by Trading2ez
4
GBPNZD - Bearish Continuation A few weeks ago we took a look at the EURNZD breaking a rather important level of structure, opening up a massive amount of opportunity to the downside. Now the GBPNZD is following along. With a minimal move down to 1.87's and a larger potential to 1.8350's this is certainly a par that will be on my radar from both a swing & intraday perspective as I look for opportunities to trade it lower. If you have any questions or comments about this setup, please leave them below & I promise to respond. - Akil
Short
by Akil_Stokes
10
GBPAUD Buy Setup!Hello everyone, if you like the idea, do not forget to support with a like and follow. on DAILY: GBPAUD is sitting around strong support in blue so we will be looking for buy setups on lower timeframes. on H1: GBPAUD is forming a trendline in red, but it is not valid yet, so we will be waiting for a third swing to form around it to consider it valid. Trigger: Waiting for a momentum candle close above the gray area to buy. and until the buy is activated, this one would be overall bearish. Good luck!
Long
by TheSignalyst
NZDCHF Sell Setup!Hello everyone, if you like the idea, do not forget to support with a like and follow. on DAILY: NZDCHF is sitting around a strong resistance in green so we will be looking for sell setups on lower timeframes. on M30: NZDCHF formed a valid trendline in red so we are waiting for the last swing to form to consider it our trigger swing. Trigger: Waiting for a momentum candle close below the gray area to sell. NB: Until the sell is activated, this one would be overall bullish. Good luck!
Short
by TheSignalyst
AUDCAD Sell Setup!Hello everyone, if you like the idea, do not forget to support with a like and follow. on DAILY: AUDCAD is sitting around a strong resistance in green so we will be looking for sell setups on lower timeframes. on H1: AUDCAD is forming a trendline in red, but it is not valid yet, so we will be waiting for a third swing to form around our lower red trendline to consider it valid and sell on its break downward. Trigger: Waiting for a momentum candle close below the gray area to sell. NB: Until the sell is activated, this one would be overall bullish. Good luck!
Short
by TheSignalyst