FalkenFx

FalkenFx

Looking to short GBPJPY. GJ has has pushed up nicely so far this week but I think there is more downside to come before a massive push up occurs in GJ. With FOMC today and the Fed interest rate decision, this is a neutral asset to trade during the turbulence hence why I am posting this idea. Confluences: 50% Fibo Trendline 3rd touch Intra Key Level Entry-...

FalkenFx Updated 

Looking to short GBPJPY from 189.050. Currently GJ is making some downward momentum to the lows created after XXXjpy pairs across the board crashed. Looking to join the movement down. GJ has broken the level 188 which was the support for the small uptrend movement created after the crash. This gives me some confidence of continued downward movement. There is some...

FalkenFx Updated 

Looking to buy Oil off the low created in December 2023. On the Elliot wave, this is currently the 5th and final wave to the downside according to the theory. With rate cuts on the horizon and political instability there is a good probability for Oil to begin a new upswing. Technical Confluences: Key Level -38% Fibo extension level (take profit zone) Elliot...

FalkenFx Updated 

Looking to Long Gold. Gold has had some nice volume the past couple of days pushing the metal to the upside. Looking to take the long around the round number confluence area and ride it to new highs, if the NFP data that comes out is weak. The only way this trade is valid is if NFP comes off weaker, if the news is good news, the trade is invalid. Reasoning: Bad...

FalkenFx

Looking to long gold on an impulse correction pattern. Currently trading all time highs and consolidating (gathering liquidity), gold is highly likely to keep moving up at this point in time for a number of geopolitical tension reasons and rate cuts just around the corner. Currently the COT non-commercial data is showing gold longs in institutions are at extreme...

FalkenFx

Currently long on Gold for a filler trade up to the 61.8% fibo level. To get long now wait for 50% of the current H4 candle and this entry will suffice. Onto the matter of the short. As you can see on gold there is a trippple top liquidation, usually meaning the market is now not ready to move higher.... Buy the rumor and sell the news is what has transpired...

FalkenFx Updated 

Looking to short gold near all time highs. Gold may drift up more in the coming weeks, if so, I plan to short the market may the opportunity present itself to us. For this short I will need some confirmation from COT data confirming firms are indeed increasing their short positions and exiting long positions, however bear in mind gold is still being short more...

FalkenFx

Looking to short gold. Gold has been respecting tech levels well recently, with the CPI data MOM being inline with consensus and YOY declining by 0.1, I am expecting gold to surge a bit more. Last level of tech available for a short is a fresh high of 2500. Entry- 2498 SL- 65 pips TP- 130 pips Confluences: - Ascending trendline 4th touch - 2500 psychological...

FalkenFx Updated 

Currently looking to short gold around 2440, sometime early this week. The market is currently range bound with a clouded fundamental picture as we await the Fed's decision as to whether or not they will be cutting rates this September. Gold has priced in some of this fundamental event by its recent upswings, but by how much is still in question. Confluences:...

FalkenFx

Looking to short GBPJPY. So it is no secret that Japan hiked their interest rates, but also due to global economic fears the Yen safe haven was bought up by firms across the board causing this massive surge in the Yen. This move re-assures the Yen's place as a safehaven for investors. BOE also recently cut their rate, fueling the surge down in GJ. Now based on...

FalkenFx

Currently looking at a long on GJ. Had a massive sell off from the upward trend, looking for the best possible point of entry into a long. Fundamentally the Yen is still bearish and Japan's manufacturing and service sectors fall into contraction, since Japan is an exporter country these are fundamentally negative for the Yen. UK elections bring some optimism...

FalkenFx Updated 

Hey traders! Looking to long GJ from the 38% fibo, currently lower timeframe structure has now been broken so the short term bias is bearish, however on the daily timeframe GJ is still very bullish. So unless a lower high is formed to indicate more downside and a shift in the structure of this asset bullish is the bias for now on higher timeframes. Noting this,...

FalkenFx Updated 

Looking to short GBPJPY. GJ is currently trading a VERY strong uptrend, when it moves like this counter trading must be smaller take profits. Considering this, I am still looking to short based on what the chart shows us. Confluences: Previous weekly high/weekly intra key level Alignment to AUDJPY Entry price: 200.420 Stop: 200.900 Target: 199.80 With...

FalkenFx Updated 

Looking to go long on US30 off the 50% Fibo and D50EMA. Currently eyeing out the long on US30 present, we have the US10Y sitting on the D 50EMA, with a lower high present, indicating we may go lower here. Being that US30 and US10Y are inversely correlated, this has created some market alignment for the move to take place on US30. With the Fed being opposed to...

FalkenFx

Currently short on GBPAUD. Confluences for short: Big 50% Fibo 76.4% Fibo Round Number (Psych number) Trendline Cross Alignment across AUD pairs Position been in drawdown for a day, looking to see if London session lows are broken for a continued movement to the downside. If there is a clean break of these lows I will enter another short position. Overall...

FalkenFx

Looking to long CHFJPY. Pretty heavy fundamental week, and CHFJPY is not directly involved with the fundamentals taking place, therefore it is an appealing option to me for trades this week. Entry- 165.870 SL- 40 pips TP- 120 pips Confluences: 61.8% Fibonacci Trendline 3rd touch Intra Key Level "Money is made by sitting, not trading" ~ Jesse...

FalkenFx Updated 

Shorting the XAUEUR from the trendline and XAUEUR all time high! This will be the last short I will take unless of course 2200 is reached by Gold EUR. Reasoning for my short and anti momentum trade is 2100 is a strong psychological level in the market and gold does tend to work well with these levels as seen in past trading with both XAUEUR and XAUUSD. Currently...

FalkenFx Updated 

Looking to short XAUEUR. Currently trading at the all time highs therefore counter moves are short term and not be taken as trying to find the reversal point in the market as this is zero sum game... Currently XAUUSD is also at all time highs near it's round number 2200 and Silver is currently subdued after rejecting the Intra Year highs of last week. Though I...