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Trendtrader

Gold Battling With Resistance & Support!The behaviour of Gold has been consistent over the past couple of years where we have seen trends followed by consolidation periods. The most recent breakout of consolidation on the 6th January 2020, saw price sharply rise to a height of $1.611 but that was short-lived. Price re-entered the consolidation zone and things were not looking good for Gold as its rival commodity, Palladium, is soaring to new all-time highs. Despite moving back into consolidation, the buyers did not give up and have again pushed price back up and above the resistance level at $1,557. If there is a good amount of momentum built up then we should see price approach the next resistance level at $1,611. A breakout there will confirm a continuation to the upside and we should continue to see long-term growth in the price of Gold. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:GOLDLong
by Sublime_Trading
Gold Breaks First Major Resistance!Following on from the previous Gold post, you would have seen that we mentioned that price was approaching major resistance at $1,557 which was from the high of 4th September 2019. On the 6th January 2020 price eventually broke through this resistance level confirming a continuation to the upside. Price also broke out of consolidation and what tends to happen after consolidation is that price usually forms a strong trend. This does depend on how long the consolidation lasted. Price is currently showing some signs of weakness as the breakout candle has a long wick above it, indicating that the sellers are trying to push price back down. What may happen next is that price may use the previous resistance as support before a continuation to the upside. Price may also decide to re-enter consolidation and in that case we would need to wait for another breakout before looking for any long opportunities. As we currently have positions in this instrument, we are waiting for opportunities to compound and increase the potential profits this commodity may decide to deliver to us. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:GOLDLong
by Sublime_Trading
2
Palladium Worth Over $2,000!On 17th December 2019, price made an attempt at breaking the $2,000 major round number and failed. From that date through to the end of 2019, it was unclear whether Palladium would exceed $2,000. We prefer to wait for breakouts and avoid trying to guess what price will do next. On 6th January 2020, price broke and closed above $2,000 creating new historical highs and signalling strong momentum in this commodity. If price does continue to rise then we can expect to see deep pullbacks along the way up as this is the nature of this commodity but this is nothing to worry about. Pullbacks are just periods of temporary selling and usually scares off the inexperienced traders. If you are trading and following the trend, then your stops should be kept a distance away from price to allow these pullbacks to occur without stopping you out prematurely. We will be following Palladium and will be looking to add more positions to our profitable trades that are currently still running. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUMLong
by Sublime_Trading
2
Gold Finding Momentum!At the moment Gold is still in consolidation but taking a closer look we can see that price is looking strong and finding its footing at a support base. If we look at the support base formed in April/May 2019, we can identify the trend that followed which saw a 22% rise in the price of Gold. After big moves we usually see exhaustion in the market and in the case with Gold, price went into consolidation and remains that way but that may not be the case for too long. A support base has been formed in November 2019 and we can now see a potential trend emerging. This, however, will not be confirmed until we have a break and close above the current major high at $1,557 from the 4th September 2019. With nice momentum on Christmas Eve and a potential close above the $1,500 round number, Gold may be on its way to breaking the recent major high and eventually go on to make new record highs. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:GOLDLong
by Sublime_Trading
3
EURGBP Has Another Fake BreakoutFollowing the UK elections on the 12th December 2019, the British Pound showed some strength and tried to battle it out with the Euro. Price managed to push itself down through major support at 0.8297 and things looked positive for the Pound. It wasn’t too long before the market corrected itself and the Pound and the Euro were balanced again and now price has returned back into consolidation. The current consolidation period has lasted 3 years and 2 months so far and it may go on for a number of years. We can never predict how long consolidation lasts but we can identify when they are over by waiting for support and resistance levels to be broken. Right now we want to stand aside until we have a clear breakout and ignore taking trades when there are fake breakouts like the ones highlighted on the chart. We show you how to identify fake breakouts in the video link below and we will also be posting updates on the EURGBP to ensure you are ready in the case a breakout does occur. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
by Sublime_Trading
2
AUDUSD 12/21/19 Daily AnalysisAUDUSD Neutral Idea On high time frames we can see that AU is very bearish and is currently approaching a key resistance level around 0.69250 which is also a daily 61.8% fib level I would like to see how price action reacts at this level before making a move. Ideally for a long setup we would like to see resistance broken and retested as support If we are to continue with short setups strong rejection from this level would be perfect for us to then enter on. Either way, we are waiting for confirmation
by ForexLeague
Palladium Slowing Down at $2,000!If price can climb another 60 points and go beyond the $2,000 mark then it would be creating new record highs for this commodity, which in 2016 was only priced as low as $454. It has travelled some way since then to where it is now and that journey has not been the smoothest. After the smooth linear trend from August 2018 to March 2019, price took a turn and went into consolidation. The sideways movement continued like that for 6 months before the trend resumed. What traders have to realise is that a period of consolidation does not write off a trade and quite often just indicates exhaustion in the market before momentum kicks back in and we see a trend continuation. The last pullback was held and pushed back up by the 50sma, which also pushed price through the previous resistance at $1,823. We will have to see if that same momentum will push price through the $2,000 psychological round number and beyond. We will share updates if and when we see new all-time highs created. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUMLong
by Sublime_Trading
2
The Dow Jones Making A Break For It!The overall structure of the Dow Jones 30 looks positive. The most recent pullback came down and tagged the support level from the consolidation resistance and bounced off from that level. After periods of consolidation, it is always good to see price retest support levels as it confirms the support level is holding and gives more strength to the buyers. Now what we ideally want to see is for price to continue to trade above the previous high at $28,175. This will tell us that the buyers have enough momentum to see that price continues to create higher highs for the next few weeks and months. This is a good early indication that a strong bull trend may be unfolding and helps to prepare us to take advantage by entering strong bullish stocks. The Dow Jones has seen some nice growth over the last year, rising by 29% or 6,500 points. This may seem like big growth to some but we may be in store for even further growth in the Dow and overall US market. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
DJ:DJILong
by Sublime_Trading
Gold Could Be Set To Rally!Gold appears to be repeating its behaviour from earlier this year. From 20th February to 19th June 2019, price was in consolidation and used the base of the consolidation zone as support and then formed a strong uptrend which rose by 22%. If we bring our attention to the current consolidation, the pattern looks very similar to the consolidation period mentioned above and what we know of the market is that it tends to repeat itself. This does not guarantee the same thing will happen, but it will give us a strong indication of what is likely to happen next. With this knowledge, we can position ourselves early on to take advantage of opportunities to make a profit from the next trend. Right now we just need to wait for a breakout of the 4th September 2019 high at $1,557. By that point, price would have moved above the $1,500 round number and the breakout would have confirmed a continuation to the upside. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:GOLDLong
by Sublime_Trading
Apple Set To Create A New All-Time High!Apple continues to perform well, despite being range-bound for 4 months between May and September 2019. Prior to the consolidation, we saw a rise of 52% from the beginning of the year. After such strong rallies, it is not unusual for price to slow down or pull back sharply as there would be exhaustion amongst the buyers. A deep pullback or long period of consolidation does not write off a stock, it just indicates that patience needs to be applied before looking for more trading opportunities in a particular stock. There are certain indications that a stock is completely reversing which we cover in the video links below. But as you can see with Apple, after price broke out of consolidation and broke above the $200 psychological round number, the trend resumed and looked strong rising 22%. We have recently seen a pullback, but price has found strength again and looks set to make a new all-time high. If a high is made then we will continue to look for trading opportunities here and profit from the rise in Apple.
NASDAQ:AAPLLong
by Sublime_Trading
AUD/CAD - DON'T DO IT!!... Don't go long!... YET!!4 Previous touches on that trend line, and now some bullish candles appearing. I bet a lot of people are wanting to join in right about now. And if you are tempted would your stop loss not be where I have put the trade prediction? Well if I can see that, big banks and institutional traders who get paid a lot more than me can see it. Apples for the taking (I think that is the quote). Don't feed the banks pockets, feed your own!
Long
by joebrownFX
NZDUSD Daily Analysis 11/23/19NU Short idea This pair has been holding a steady bearish trend on high time-frames. At the current level we have seen multiple rejections from the major resistance zone & daily 38.2% fib level around 0.64400 which means that a strong bearish move could be imminent. For us to have enough confirmation we always look for bearish setups but in this scenario there are two relative minor support levels we want to see break (in blue). A break of the first support level will confirm the first broken higher low, ideally after that has been broken a retest followed by strong bearish setups will give us confidence to short to the next support level around 0.63250. Once this level has been broken that will confirm a break of a higher time-frame lower high in which case this thing is more than likely to dump! We’re looking to target our weekly support around 0.62750 which is about 125 pips from where price current is!
Short
by ForexLeague
AUDUSD is trending down, but that Supply Zone though? HelpSo Monthly/Weekly/Daily/4h, they ALL have downtrend congruence in their structure. It's beautiful, but...Price has impulsed up very strongly from that blue potential supply zone on 2 occasions and even now it could be pushing up. We also see that it is slowing up at this equidistant channel resistance and there is rejection expressed from the previous 4h candle. Furthermore, On the Dailly chart, this can be a retest on a significant support as a newfound resistance. Maybe we just have to wait more to see. I'm truly neutral on this, I may take it down to right before the blue area with proper candlestick confirmation, however I am uneasy and want to look for a better setup elsewhere. Let me know in the comments, Trade the supply zone for the strong impulse the long way, or ride with the multi-timeframe congruent people's trend the short way? You guys help me out with your ideas this time. Trade at your own risk, this is not professional advice, these are just a few ideas I learned in books and videos. Trade what you know. PatiencePays
by PatiencePays777