Lukman_M

Lukman_M

The trend for Great Britain Pound Sterling (GBP) is still downtrend. I think the market is making an upward pullback in the event of prime minister resignation. Fundamentally, Great Britain will be facing a challenging time ahead with a possibility of hard Brexit. If Brexit were to occur, British economy will be damaged either soft or hard Brexit. It is a matter...

Lukman_M

The price is currently trading in the area of support. I expect the support to hold and pushes the price back into its current uptrend. Trade Safely!

Lukman_M

The price is losing its momentum and shifting into ranging market movement. In ranging market, we can trade based on the range's support and resistance line due to its ability to hold. Currently, the price is in the area of support (red line) and I believe the support is strong enough to push the price towards the resistance area (blue line). This gives us the...

Lukman_M

The past few weeks, the downtrend movement seems to be fading and the price trades in the ranging market (box). As for now, trend reversal might happen, but not yet confirmed. As for now, I am going to initiate a short position on NZDUSD giving the price trading near the resistance trend line (red line) my stop loss would be near the area of previous week high.

Lukman_M

It is possible top go long again given the current buying momentum. I expect the price to reach the area of 1470s. However, trading this setup requires a little big stoploss due to the volatility of the price. Trade Safely!

Lukman_M

The price has broken the pattern and retest the new support line with price rejection (yellow box). This indicates that the buying momentum is high, giving us the opportunity to enter long position. Trade Safely!

Lukman_M

The blue line is the resistance trend line for the long term downtrend. The red line is the support become resistance trend line. I expect the price to test these resistance line (price will trade in the triangle area) and then will fall to test the 0.98158 support line. As you can see in the yellow boxes, the price found the area to be a resistance area.

Lukman_M

If the price break and close below the support line. We can say that the price might retest the support line on H4 time frame. This gives us the opportunity to short gold. Trade safely.

Lukman_M

The price formed what seems to be imperfect double bottom. And for the last 2 hours, the price seems to be rejecting the support line signalling a possible upward movement. Trade Safely!

Lukman_M

Going long on gold.

Lukman_M Updated 

The price is moving in channel pattern. We can try to open position once the channel is broken. If the price broke the upper channel line, it will be most likely to test the resistance line in the area of 1430s. If the price broke the lower line, it will most likely test the support line. Trade Safely ! Have a good weekend.

Lukman_M

Price made a double bottom and market noise pretend to break the support line. Price is trading above the support line after breaking and retesting the trend line. Going long for a bit as I expect the price to make sideways movement before fully complete the trend reversal. Trade Safely!

Lukman_M

The price had broken the H4 trend line signalling a buying pressure. Trade Safely!

Lukman_M

The trendline is holding up with 3 hours of price rejection refusing to break. Initiating long position now with two possible take profit area. Trade Safely!

Lukman_M

The shakedown of US and Iran crisis and threat of war clearly gave a damaging impact on US Dollar. Investors are worried about the state of world economy and started to accumulate precious metals to protect their wealth against devaluation of Dollar. With a lot of alarming issues happening all around the globe, the demands for precious metals will continue to...

Lukman_M

Gold was trading in a bullish momentum for starting at the end of May until the mid of June. As we can see, the market is currently taking a break by making a ranging movement. In my personal opinion, the price is making a trend continuation pattern that seems to be a triangle. As for now, we can wait for the price to break the pattern with significant volume and...

Lukman_M

For the past two months, we had seen GBPJPY on a strong downtrend moving from area of 148 to 135. Currently, the momentum is slowing down with a little bit of sideways movement. I am seeing a potential descending triangle chart pattern forming. I am waiting for the breakout of this pattern. As I wait, I will initiate a short term trade on this setup. Trade Safely!

Lukman_M

As you can see, there is a possible short term downtrend on GOLD as the price makes a downward pullback on H4 uptrend. Initiating a short position. Trade safely!