Am Still Faith On My Bearish View For AZ Dollar But Waiting Further Clues On How Much The Market May Retrace Based On April CPI Figure
FOMC WILL RAISE INTEREST RATE AS EXPECTED BUT TIME IS MATER .... BOE NOW TRYING TO PRESERVE ITS INTEREST RATE WITH LITTLE HAWKISH PERSPECTIVE TECHNICAL LOOKS LIKE 1.54 A GGOD SUPPORT LVL
Q3 ends around yearly low @ 90ish area, which represent the neckline for next direction, Q2 extend losses below 161.8 @ 93.00, before the Q3 closed, AUG print a strong bearish weakness @93.00 ext 161.8, one month preior to Q3 close, but the close was so agressive and we exceed the 161.8 limitation, after what happened PRICE ACTION hint us that the 93.00 EXT161.8...
we are at a level that we may see some profit taken or open buy positions, in both cases the daily and weekly close is so critcal for this market, 2 steps to go retracement first then Q4 TARGET 2 OR Q4 TARGET 2 then reversal at all times low @1180 (retested 2 times on 2013) Dollar still strong as expectation of rate hikes, fundemetal nothing change that much...
No Wounder That We Are In A Massive Down Trend Caused By USD Strength (QE Cutting Program and Possibility Of Rate Hikes) Fundamental Speaking We May See That 1.2800, BUT Any Unexpected Figure That Could Weigh On Rate Hikes Kind Of Theme It Could Take Us To The Retest LVL, 13100
GLD Was Down Since July, And The Move Came From The High We Put On March, Pattern Is Bearish With Lower High As You Can See On The Chart, Now ATM We Are Facing A Soft Support Lvl @1240 I Did Not Consider It Strong Because We Made That Low But The PA Till Then Was Bearish So We May See A Break Toward All Time Low Around 1179, But We Need To See How The Price React...
fundamentally we can see dollar strength, but it wasnt stronger than the yellow metal and we made a great double bottom below the 1300 handle and then we shoots higher and closed the day above it this may give me much confidence on long nonetheless the TLS is obviously support the uptrend and the TLR has been broken
the only adanve pattern appeared here is the broken triangle, that give us a great bearish bias to the down side with R/R big enough to make the best profit, nonetheless the RSI is not on oversold territory, and friday candle was a retest candle this may give us a great edge about being right but, the bad thing is the GBP is strong and the fundamental data was...
A good bearish pattern are showing, the best thing is to short with minimal stops above this advance pattern, remember 3rd touch is awful LOL :P
RSI overbought with confluence of T LS and possibility of double bottom
I post my chart based on TLS/R,advanced pattern to put you on the top of the game and being profitable
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