As the markets start to wake up in the far east, I expect a push through our overhead resistance of $2760 tonight. To do so though, it is important that we also close out above our middle Bollinger Band of support , currently at $2670. If we do, it is a good sign that we will push through that tough overhead resistance of $2760 tonight. Once accomplished, the road...
Once again analysis here is not tough stuff. Our line in the sand today is $2760. If we close above that, it should be fairly smooth sailing on up to $3250-3300. If we are not able to break through this resistance level today, then we should see more sideways consolidation before moving upwards again. Either way, my prediction still stands, $3250-3300 by the end...
Price action breaking down to new lows // DXY bullish bias continuation // Fundamentally still under the influence of hawkish monetary comments coming out of the Dollar // Further downside movement is my forecast for the pair
Fibonacci inversion trading setup with 2:1 reward/risk.
If market retest D point short the market. There is also absolute confluence between the 1.618% projection of AB and the 61.8% retracement of the impulse leg.
With regards,
Michail Sideris
Next week, we will be looking for short opportunities on the Aussie around the 0.7600 area.
Few confluences:
1) We have a WXY structure based on Elliott Wave analysis
2) We have a Gartley and Butterfly pattern completing around that area
3) We have a psychological number of 0.7600
4) We have RBA Rate Statement this week
All these lined up to give us some good...
I am looking for a short on gold in the near future. I will be looking for price action when it reaches the top. If its breaks above it will change the whole structure. Look out for this pair next week
From my harmonic pattern analysis, that possibly there might be a projection for shorting in the market, after the Buy I located in the green zone. Please do not place any trade yet as they are POTENTIAL, but if you know how to calculate where your stops and take profits are, by all means, go! But I will not be responsible if your trades are losing. So far all of...
