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HERE IS MY TECHNICAL ANALYSIS ON GOLD FROM A 1 HOUR PERSPECTIVE. PRICE IS RETESTING A CRUCIAL ORDER BLOCK/SUPPLY & DEMAND ZONE AND IS SHOWING STRONG REJECTION SIGNS, I'M HOPING FOR ONE MORE RETEST TO SNAG A VERY SHARP ENTRY WITH A SMALL STOP LOSS. PRICE COULD ALSO LOOKED TO HAVE FORMED A H&S PATTERN. GIVEN THE NUMBER OF LONG POSITIONS ON GOLD AT THE MOMENT I'D...
HERE IS A INTRADAY SELL SETUP ON USDCHF. PRICE IS RESPECTING THE RESISTANCE AND HAS FORMED AN M, PRICE INITIALLY DID A FAKE OUT TO CUT THE SELLERS OUT AND HAS NOW FORMED A BEARISH ENGULFING ON THE 1 HOUR CHART. I'D EXPECT TO SEE THIS PAIR TO NOW MOVE TO THE DOWNSIDE. OVER 3.5 TO 1 RR FOR THIS SETUP AND LOOKS GOOD. LETS SEE WHAT HAPPENS.
THIS IS MY PLAN FOR TRADING CHFJPY IN THE SHORT TERM. I EXPECT PRICE TO DO A BEARISH CORRECTION FOLLOWING THE BEARISH ENGULFING CANDLE THAT HAS FORMED RECENTLY ON THE CHART. THE ENTRY POINT IS A COLLECTIVE OF THE SUPPORT AND WELL RESPECTED TRENDLINE CROSSOVER. LETS SEE WHAT HAPPENS.
H&S ON SMALLER TIMEFRAME. BEARISH ENGULFING TO CONFIRM ENTRY, SL JUST ABOVE PREVIOUS HIGH AND TP AT STRONG SUPPORT LINE. GOOD RR FOR SMALL MOVE, COULD GO LOWER.
HERE IS MY VIEWPOINT FOR GOLD , I WILL BE LOOKING TO SHORT AT CURRENT PRICE ACTION IF SIGNS ARE SHOWN. PRICE BROKE CHANNEL AND HAS PULLED BACK FOR A RETEST OF THE KEY ZONE, I ANTICIPATE IT GOING DOWN TO PREVIOUS LOW AS A MINIMUM, AS KNOWN USD NEWS LAST WEEK WAS POSITIVE FOR THE DOLLAR BUT GOLD HAS CONTINUED TO RISE WHICH COULD MEAN A MORE IMPULSIVE MOVE TO THE...
HERE WE HAVE A NICE SETUP FOR EURCAD. PRICE IS IN A DESCENDING CHANNEL AND THIS IS A BULLISH REVERSAL PATTERN. PRICE IS IN A KEY SUPPLY/DEMAND AREA, AT THE ZONE OF TWO TREND LINES , I WILL BE LOOKING TO FOLLOW THIS PLAN WHEN STRONG PRICE ACTION APPEARS TO CONFIRM BULLISH STRENGTH. HAVE TO BE CAREFUL WITH THIS ONE AS STRONG FUNDAMENTAL NEWS WITH CAD LAST WEEK.
A VERY GOOD ENTRY POINT TO GO LONG ON THIS PAIR IN MY OPINION. I SEE A BULLISH FLAG, PRICE HAS TESTED THE SUPPORT ON MULTIPLE OCCASIONS AND HASN'T BEEN ABLE TO BREAK IT, LONG WICKS AND PIN BARS SHOWING BEARISH WEAKNESS ALONG WITH 50 AND 200 EMA CROSSOVER THE RR SPEAKS FOR ITSELF ON THIS ONE, WILL BE AN INCREDIBLE TRADE IF IT GOES THIS WAY. IF NOT YOU LOSE SMALL!
HERE WE HAVE AN INVERTED H&S FORMATION WHICH IMPLIES A POTENTIAL BULLISH REVERSAL, I HAVE MARKED UP ENTRY SL AND TP BUT COULD ALSO WAIT FOR BREAK OF NECKLINE FOR SAFER ENTRY AS THIS HAS BEEN ON AN AGGRESSIVE DOWNTREND. I WILL BE LOOKING FOR STRONG PRICE ACTION TO CONFIRM ENTRY.
COMPLETED H&S STRUCTURE, GOOD SHORT OPPORTUNITY FOR A GOOD RR RETURN.
MY VIEWPOINT REMAINS THE SAME AS THE ORIGINAL ANALYSIS ONLY NOW IT IS A STRONGER SETUP FOR A BIGGER MOVE DOWN, GOOD RR SETUP AND HIGH PROBABILITY, ALREADY SHOWING SIGNS OF REJECTION ON 4HR TIMEFRAME.
HERE WE HAVE A NICE SETUP FOR A SHORT POSITION ON NZDCAD. PRICE HAS COMPLETED A PULL BACK TO A KEY SUPPLY/DEMAND AREA WHICH WAS PREVIOUS SUPPORT, PRICE ACTION SUGGESTS RESPECTING THE AREA WITH LONG WICKS AND MINIMAL GROUND GAINED FOR BULLS, IDEAL TO ENTER NOW FOR A GOOD RR SETUP.
GBPNZD IS AT AN INTERESTING PLACE FOR A LONG OPPORTUNITY, THIS PAIR IS ON AN UPTREND AT THE MOMENT AND I THINK THAT WILL CONTINUE. CONFIRMATIONS ARE THAT WE ARE NOW SEEING A THIRD TRENDLINE TOUCH, PRICE IS SITTING ON A KEY SUPPLY/DEMAND AREA FOR SUPPORT, REJECTION SIGNS WITH LONG WICKS AND CONSOLIDATION, GOOD RR BUY.
LOOKING AT THE MARKET STRUCTURE AHEAD OF THIS WEEK MY VIEWPOINT WAS A BUY, PRICE HAS RALLY'D DOWN SINCE MARKET OPEN AND NOW LIES AT A POINT FOR A POTENTIAL LONG TO BE TAKEN, SUPPORTED BY TL AND KEY SUPPLY/DEMAND ZONE, GOOD RISK/REWARD SETUP, I AM STILL LOOKING FOR CONFIRMATION FOR ENTRY.
I THINK EVERYONE IS LOOKING TO SHORT THIS PAIR AT THE MOMENT, PRICE AT A WELL RESPECTED TRENDLINE ON THE DAILY TIMEFRAME, ALSO JUST SITTING BELOW A MAJOR SUPPLY/DEMAND ZONE, GOOD RISK REWARD POINT FOR A SHORT BUT I AM PERSONALLY LOOKING A BIT FURTHER FOR STRONGER SIGNS OF REJECTION BEFORE ENTRY. LETS SEE WHAT HAPPENS.
HERE IS A GOOD RR SETUP TO ADD ADDITIONAL ORDERS TO OUR ORIGINAL SETUP TAKEN EARLIER LAST WEEK, PLEASE SEE RELATED IDEA FOR A MORE DETAILED VIEWPOINT.
HERE IS MY VIEWPOINT ON GOLD, I MANAGED TO SNAG AN ENTRY AT ENTRY POINT OF LONG POSITION DRAWN UP HERE, MY VIEW IS GOLD WILL REMAIN BULLISH FOR MEDIUM-LONG TERM THIS YEAR .
FOLLOWING FINISH OF PREVIOUS WEEK MY OUTLOOK ON GBP PAIRS IS BULLISH, PRICE HAS CURRENTLY RETRACED BACK TO AN INTERESTING PLACE FROM MARKET OPEN LAST NIGHT, I AM LOOKING FOR SIGNS OF RESPECT IN THIS AREA AND I WILL TAKE THE LONG.