Would be interested to see how the daily or minimum 4H closes prior to taking any shorts. Looks to be a nice reaction off the 786 thus far. Target is -27 of daily fib OANDA:XAUUSD
Although FX:GBPUSD is seeing a very bullish Daily trend, I see something like this happening over the long term. We can can also see some heavy divergence on the Daily chart. Confirmations: -Fib Levels -Imbalance -Divergence -Structure did not break to the upside when testing highs
I am not bullish on the long term with UJ, but I do think the DXY still has some pushing up to do. That being said, this is a short term UJ idea with my confirmations posted on the chart.
I'm not crazy about this due to the fact that it's a counter trend, but I do see price coming lower to one of the unhealthy price action areas and retracing before coming down lower. I would take this as a lower risk trade. Two potential areas of entry - likely the imbalance. Zero in on the lower time frame and confirm a break of structure before executing the trade.
Confirmations: Bullish Trend Fib Levels Unhealthy price action Institutional Candle Break of Structure/Expansion Waiting for a retracement into one of these two key areas. Will be zeroing in on either of these levels on lower time frame and executing once I see a confirmed break of structure to uptrend to mitigate risk!
Confirmations: Unhealthy price action Institutional candle printing Fib Level Seasonality I like this trade and there are two potential areas of entry. Will have to see what price action does when it enters either of these areas. Zoom in on to the smaller time frames for a nice low-risk entry with a high reward.
Gold looks to have broken its bullish structure, but we failed to make a lower low, so will be monitoring price action closely. Price seems to be entering an interesting area here. Will be zeroing in on lower time Frame to find an entry, but with NFP coming up this week it's hard to tell exactly.
Confirmations: Bearish Trend Fib Levels Insufficient Price Action Break of structure
My confirmations: Fib levels Price breakthrough Unhealthy price action (fixed volume range) Institutional candle Bullish overall trend