On the Daily price has made an impulsive move to the upside and then consolidated in a falling wedge pattern after testing and faking out of the psychological level/support of 1.5200. On the 4 Hour we can see price has stalled and started to retrace towards the fib levels, 50 EMA and Market Structure so upon interaction and price action confirmation we can look...
I am holding this pair short at the moment with the aim of hitting 1.79823. Confluences: - Breakout of the triangle on both Daily & 4 Hr timeframes - Retracement with 2 rejections of the 61.8% fib - Market structure - previous strong support now acting as resistance
I am long on XAUUSD as we have a continuation on the trend line after printing a new higher high. Price is using the 1hr 50 ema as a dynamic support and we have rejected the 50% fib level.
I'm holding XAUUSD short as on the daily timeframe we can see nice retracement into the 'Golden Pocket' area. At the moment price is interacting with the 50 ema however on the lower timeframes this has already been broken. Should the daily candle close over the 50 ema I will remain bearish on this trade whilst monitoring pice action around the 1540 area. Should...
Following on from my previous trade on this pair, we can now see on the daily we are coming into an area of high interest. We have the 50 ema and 61.8% fib to take into account. Therefore when this current daily candle closes, we can look for confirmation to sell.
I am long on this pair curently. We have a nice retracement, tests and rejections of both the 50 ema and 50% fib with the current 1Hr candle is forming a bullish engulfing.
Im holding AUD/NZD short after breaking the bullish trendline from mid-March. After the break we saw a minor re-test followed by a close over the 50 EMA. Price moved to the downside before retracing to the 50 EMA and rejecting the 50.00%. I entered this trade at 1.01992 and will be keeping an eye on with the aim to hit the -27.00%, SL moved to entry so this trade...
Price action on this pair has been very corrective on the 1Hr timeframe as we approach a key level of 112.00. This also correlated with the Daily timeframe as we approach the 112.00 level which has not been successfully broken for 12 months or so. In my opinion, price could push higher before a heavy bearish movement. However if price does not push higher and...
Lookig at the Daily & 4Hr timeframes we can see a strong bullish momentum since the 9th March. We now have a retracement into the 'Golden Pocket' with price appearing to reject the level nicely. I am being mindful on this pair as there is still over an hour until the candle close and price may push lower to test the 50 EMA before continuing the bullish...
A cotinuation from yesterdays bearish movement of which could not break the 1470 major support level. This has then started to create a Head & Shoulders continuation pattern. I will be keeping an eye on this as entering from here (and not the neckline) would be quite aggressive.
Holding GBPUSD short. Strong bearish momentum since early March with a nice retracement into the 'golden pocket' area after testing the 50% fib yesterday.
Holding XAUUSD Short however being mindful of the psycological support level around 1470.00. Bearinsh movement with multiple touches on the trend line, rejection of the 71.00 % fib.