Textbook play Bearish engulfing on daily If this closes on next daily candle & breaks horizontal support short is confirmed
SHORT US FUNDAMENTALS WILL DRIVE THIS PLAY AS BEARS BEGIN TO MAKE A MOVE 200D SMA RESISTANCE RSI STOCH BEARISH GOOD R/R
61.8 RESPECTED 3 TIMES 200 D EMA RESPECTED HORIZONTAL SUPPORT PRICE IS LOW FOR A SOLID ENTRY R/W IS GREATER FOR LONG THAN SHORT IF PRICE BREAKS BELOW 200D EMA WE SELL
61.8 FIB RESPECTED HEAVILY ON WEEKLY TIMEFRAME 200D EMA IS SADLY ABOVE PRICE WILL THE BUYERS COME IN BASED OFF 61.8 ? PULLBACK IS DUE, EXPECT BULLISH WEEKLY CANDLE OR DOJI RSI & STOCH CLEARLY OVERSOLD, NEED RSI TO START POINTING NORTH
USD/ZAR LONG ANALYSIS SELF EXPLANATORY ON CHART -RSI PUSHING UP/ROUNDING NICELY -STOCH CROSSOVER IMMINENT/ROUNDING NICELY -HORIZONTAL RESISTANCE *ANALYSIS NOT ON CHART* -RETAIL SALES COMING OUT FRI 1/12 ARE EXPECTED TO DROP 0.4% FOR DECEMBER.. I FEEL THIS IS ODD AS SPENDING GENERALLY INCREASES DURING THIS MONTH AS IT IS "HOLIDAY SEASON" I FEEL THE ACTUAL...
XAUUSD experiencing some volatility today as expected due to all USD news, especially NFP. I am waiting for a clear breakout to decide which way to enter, I do personally think i will be entering short due to the dollars rally which i think will continue 1. Main & Strong trendline support is holding -Waiting for a confirmed breakout on at least 4 hr or Daily...
MY REASONING: 1- MAIN TREND LINE SUPPORT -GOLD HAS BEEN SUPPORTED BY THE MAIN TREND LINE FOR QUITE SOME TIME NOW, UNTIL A CLEAR BREAK ON A 4HR OR GREATER TIME FRAME IS SHOWN WILL ANY SHORT PLAYS BE CONSIDERED * I UNDERSTAND GOLD MAY LOOK LIKE IT IS CURRENTLY BREAKING BELOW THE TREND LINE.. I WILL RE ANALYZE WHEN MARKET RE OPENS AS I FEEL THE PAIR WILL GAP UP AND...
MY REASONING BELOW: 1. MAIN TREND LINE SUPPORT -DXY IS BEARISH UNTIL WE GET A CLEAR BREAK & CLOSE ON A SIGNIFICANT TIME FRAME ABOVE RESISTANCE TREND LINE 2. FIBONACCI 61.8 -PRICE FAILED OFF OF 61.8 FIB AFTER STRONG ATTEMPTS TO TRY AND BREAK THROUGH -61.8 WAS ALSO CONFLUENT WITH THE RESISTANCE TREND LINE 3. ELLIOT WAVE THEORY - *WAVE THEORY EXPRESSED ON...
PLEASE SEE MY REASONING BELOW (2 POTENTIAL PLAYS): 1.PAIR BROKE OUT UNDERNEATH STRONG CHANNEL CONFIRMING BEARISH MOMENTUM -CHANNEL WAS FORMED ON ABOUT 5/30 AND HAS BEEN HOLDING BUT HAS FAILED ON 7/21 -PAIR IS BEARISH IF LOOKED AT ON 4HR AND DAILY TIME FRAMES MAINLY BECAUSE OF USD NOT BEING ABLE TO BOUNCE BACK AFTER TRUMP 2(A) PLAY 1, RE-TEST ON LOWER CHANNEL...
Hello All, I am happy to share my first idea with the community and hope to engage a lot more with you all in the future. This is a simple long GPB/USD call, my points for confirming this long play are as follows: 1. TREND LINE SUPPORT HOLDING FROM 6/21 - CLEAR, STRONG FAILURE ON FIRST TOUCH ON 7/11-12 - CLEAR, STRONG FAILURE ON SECOND TOUCH ON 7/20-21 2....