Elliot_Myers

Elliot_Myers

Currently short at 111.655 and waiting for price to pull back to the 111.272 level (61.8% fib + price structure) for additional short entries - targets are at 110.000.

Elliot_Myers

With 1.31231 broken (daily close above this level) a re-test of 1.135346 the next major resistance level is likely. We now wait on price to pull back and establish a level of resistance for a buy entry. Currently we have 5 options outlined below which we need to wait for price to test and for the market to decide on which level to resist a move lower. 1.31231 -...

Elliot_Myers

Currently long @ 1.16749 with targets at 1.19022 and waiting to see if previous resistance at 1.1753 converts into support. Ideally we want price to hold above 1.1753 and to buy at this level as it is has served as a critical resistance in the past and thus would be an ideal area of support and entry and it is in line with a 50% fib. Any decline below 1.16749...

Elliot_Myers

Hi Traders, Gold has closed above resistance at 1258.72 and is now headed for a re-test of 1295.00. We remain short on price action below 1295.00 with our ideal short entry at a double failed break of 1295.00 or 1300.00.

Elliot_Myers

Hi Traders, US30 has broken the phycological 21680 level and is headed for a likely test of the major phycological 22000 level. To get in on the move up wait for a test of the 21900 level and enter on a 61.8% fib at the 21760 - 21750 level.

Elliot_Myers

Hello Traders, Short set ups for you based on 2x key fib levels and 1x phycological level. We are seeing EURUSD shape up to either reject a breakout of the years long range or re-test yesterdays high. We're looking for price to maintain below 1.16500 for bearish bias to be confirmed. Advised entry is 1.16738 (61.8% fib level) Other entry options albeit more...

Elliot_Myers

Morning Traders Set up Entry on the 50% Fib +confluence with prior price structure and a potential re-test and failure of the upper channel (dashed black line) Entry: 1.25628 Stop: 1.25674 Profit: 1.24619

Elliot_Myers

Hi Traders, GBPUSD as outlined has an entry point with 3x confluence (FIB 61.8%, Failed Re-test x2 and Key Weekly Resistance). Entry and targets highlighted on the chart for you. Good luck!

Elliot_Myers

Hi Traders, 2x entry zones identified for you with our initial target being a re-test of todays highs. Longer term you should be looking at 1.19000 and for the Euro to finally break out of the years long range and being to trend higher. How high is dependant on external economic and political factors however we should focus on the price action in front of us...

Elliot_Myers

Hello Traders, I'd like to share how we achieved 130 pips on EUR/USD today and to hopefully help you on your trading journey. Our traders follow these 5 rules: Rule 1) Trade must be in line with the W1 Trend Rule 2) 'If & Then' Analysis based around a pull-back supported by confluence between key Fib & structure levels Rule 3) Stop loss is to be based on...

Elliot_Myers

Hey Traders, Fantastic result for us this afternoon, if you had taken the advice with an entry at 1.14909 you'd have seen price rise up 80 pips a few minutes ago. Let's hold the trade with the target 1.16200 very much in sight. The market is likely to pull back so hold your nerve, move your stop to breakeven and wait it out. Good luck!

Elliot_Myers

Morning Traders Long entry points are: 1.1490 1.14533 Target price: 1.16200 I Suggest orders at each point with a 10-15 point stop loss, we are trying to catch a falling knife right now with price in decline so risk should be proportionate. Alternatively set price alerts and wait for a double failed re-test of either level to begin buying. Good luck!

Elliot_Myers

Hi Traders, Well done to any of you that acted on yesterdays analysis. We saw a perfect retracement at the 61.8% level for an ideal entry. We now wait for price action to reach the green 'Target Zone' to close the trade with a good amount of pips. It's likely we'll see price struggle to break above the previous highs and another pull back opportunity should be...

Elliot_Myers

Hi Traders, Simple one, EUR/USD closed above a key weekly resistance level last week and we should expect further upward bias. You can see the set up with a clear option to go go long in the greenzone which is supproted by key fib levels and historic price action. Good Luck!

Elliot_Myers

Hi traders, Quick recap and yesterdays set up which netted 30.2 pips. As per the short set up, currently short and monitoring price action towards the green box where a break lower opens a host of new bearish targets. Today saw FX:EURUSD fail to make any new highs and in fact it is making lows on an hourly chart and bullish price momentum is currently on the...

Elliot_Myers

Hi Traders, EUR/USD took a tumble today after reaching fresh highs and potentially breaking out of current the multi-year range. The fall was due to comments by FED Chair Janet Yellen compounded by price breaking the key phycological 1.145 level which was a prime level for the bears to re-enter and take control of price direction. I anticipate that the bulls...

Elliot_Myers

Gold has double topped at the last lower high and while I am skeptical of a sell right now given the USD index is falling there should be caution when taking a long position. We need a higher close above the lower high to safely buy into Gold which may come later in today's session, otherwise if the USD index re-bounds (see linked trade analysis) we could short...

Elliot_Myers

Morning traders, interesting down move by the USD as it has pushed below recent lows and is headed for the most recent lower high. A close below that would confirm further downside to the high low at 11840 Stops at the last high 11990. Of course a failure to close below the last higher low does open a buying opportunity as we see the RSI headed for oversold...