OGFXTRADER

OGFXTRADER Updated 

With the price action trading within an uptrend channel and harnessing the latest weakness on the USD, it allows an uptrend continuation with the British pound. A buy-limit entry, expecting a correction after the double top and hopefully testing 61.8 FIB level for further strong bullish momentum to the previous resistance level. S/L: 58 pip & R:R | 1:2.5

OGFXTRADER

Technically, Ripple has been able to re-conquer around 50% of the lost land since its previous bottom last March, although price action still trading under the bears' domain. XRP has shown today an excellent bullish momentum, alongside with MACD supporting the uptrending bias forming a crossing buy-signal. However, it is still too early to confirm a clear...

OGFXTRADER

With June right at the corner, and this month staging 87% recovering in the black gold market, prices have unfortunately found a strong level at the $34 handle. The WTI index has struggled to cheer the USD's weakness and is currently trading in red in the Asian session with a correction of 1.5% from the Thursday session. Investors' sentiment is dampened amid...

OGFXTRADER Updated 

Price action is trading in an uprising wedge, with MACD signaling a selling pressure supporting a small correction to the previous support level and the rising trendline from the wedge, allowing the setup of a buy-limit order. S/l: 33 pip with a lovely R:R | 1:3, where the T/P is right at a strong level in confluence with 0.68 level from the Fibonacci extension.

OGFXTRADER Updated 

With price action trading close to a resistance level, together with the 50EMA and downward trendline, it could bring the opportunity for a short trade as a sell-limit entry setup. When checking the intraday charts at H1, the candle forming was a clear Doji bar signaling the possible fatigue of the short correction from the more significant downtrend bias. S/L:...

OGFXTRADER Updated 

As the pair has reached the upper band from the uprising channel, it may be the moment for correction and look for a short entry setup. Capturing the downward movement, supported by a soft divergence with MACD, the trade allows aiming for an R:R | 1:2 with an S/l around 75 pip from the E/L.

OGFXTRADER Updated 

The major pair is currently showing some sellers pressure, as price action has been trading sideways, forming a clear channel. In D1, today's candle shows market indecision, not only reaching resistance from the channel but also the resistance from the 200 MA. Then moving to an intraday realm in H4, the bearish divergence from price structure and RSI give...

OGFXTRADER Updated 

BUY LIMIT ENTRY TO PREVIOUS DEMAND LEVEL, MACD SHOWING BULLISH MOMENTUM. UT BIAS IN HIGHER TIME FRAMES. EXPECTING PRICE ACTION TO TRIGGER ORDER. -- S/L: 30 PIPS R:R 1:2.5

OGFXTRADER Updated 

USDCAD has been trading in a descending triangle in D1, H4 price is forming and short-term uptrend bias supported by the trendline, before reaching the top from the descending triangle MACD is showing diminished bullish momentum. Price action should reverse till reaching FIB level 0.5 + testing support from trendline and triggering the order. Finding strong...

OGFXTRADER Updated 

GOLD PRICE ACTION HAS BEEN CONTROLLED BY THE BULLS FIGHTING ITS WELL-KNOWN SAFE HAVEN PROPERTIES WITH THE #DXY AMID THE CURRENT MARKET CONDITION DUE TO "PLANDEMIC". ANYHOW, IN D1 MACD IS SHOWING A DIMINISHED BULLISH MOMENTUM TOGETHER WITH THE COMPRESSION OF THE PRICE ACTION. GIVEN NICE ENTRIES EVERY TIME THE PRICE BREAKTHROUGH THE FLAG FORMATIONS. HOWEVER, RIGHT...

OGFXTRADER

Market sentiment has vastly improved over the past weeks, where news about the promising vaccine has also helped boost not only energy but also equity markets. Crude Oil futures prices continue to grow from the historic April lows as a combination of production cuts and signs of increasing demand appears to have stabilized the market in the near-term....

OGFXTRADER

With just four trading sessions left before the WTI June contract expires, in despite the total number of coronavirus cases reaching 4.5 million and 300k death reported worldwide by Johns Hopkins and the market, in general, ignoring the US unemployment claims close to 3 million, the oil price was able to capped to a fresh high. A whole trading week has cost the...

OGFXTRADER

The new month isn't exactly off a great start so far for risk trades. After the historic April 20th on the oil price for the first time closing at $0.01 per barrel, price action has been able to recover some grounds, as it couldn't go deeper in the charts, of course, price action register a recover of 244K% as the new high on May 6th touching $27.95 per...

OGFXTRADER

The oil market started this trading week recording a new low at 19.29 US$, a level last seen 18 years ago, with a shadowed and gloomy projection of the global oil demand falling by more than 20 Mb/d, the yesterday’s rebound in the oil price could be only temporary relief. Technical reading prevails clear bearish bias, oil market tilted towards the upside...

OGFXTRADER

After the technical correction experienced in the market last Friday, the wrecked oil market had what is considered a flat trading week, forming a consolidation channel within 25- & 21-dollar range, market sentiment remains skeptical with investors in “sit-and-wait” mode weighting the outcomes of events in different fronts before placing their bets. On one side,...

OGFXTRADER

Oil markets yesterday have experienced what is considered a technical correction, creating much expectation about a further recovery. However, it would be hard to claim that it is objectively true. Still, the market needs to deal with the Covid-19 and the disintegration of the OPEC+ alliance. The market remains under sellers pressure, where investor and traders...

OGFXTRADER

Since our last report on the crude oil market sector, the price continued its plunge by 8.36%, to finally finding support at 49.35 handle, previous support from November 2018. With the Covid-19 initial panic still hovering the market - sadly – its impact in the crude market demand is now unquestionably. Now without any further ado, let's read the charts. Price...

OGFXTRADER Updated 

Forming double top in M15 in confluence with MACD forming LH (lower-high), for a probably M formation and testing of 200MA. For higher time frame confirmation in H1 price action has been up-trending within a channel where missing leg will head back to the support line of the channel, also in confluence with MACD divergence. S/L: 36 pips R:R 1:2