As you can see GBP JPY have formed a head and shoulder pattern on the 1 hour timeframe. There is also some pretty strong resistance prior to the shoulders around the same level thus making this a possible nice entry! We should wait to get a nice entry where we could get a better risk reward ratio along with the possibility of a bigger profit at the end! Overall...
As you can see on the chart gold have formed a wedge pattern on the 1 hour chart with LH AND HL meaning that prices are struggling to keep up with the downward demand making this a perfect oportunity to look for shorts which have been the trend lately! You could either look for candle close under the bottom support and enter a short position with a sl just above...
I belive gold will have a push upward soon! As you can see by market structure gold have broken it's 3 day flag as predicted and moved to test support but bounced off and broke the channel! I would now like to see a test of the channel and price to bounce more up as i belive hedge fund managers are scaling into gold positions now after posibly selling to...
As you can see by the chart gold have broken the 4 day flag pattern and moved up and broke the weekly channel! i now believe gold will continue up beacuse of hedge fund managers scaling into gold after selling off positions to hedge and compensate for some of the losses that have happend during this bear market in the US! US is also pumping a lot of money into the...
Gold have been going downward on both 4h and daily candles and only broken this channel once since 6th of march by about 130 pips. I have drawn zones (blue squares) on 1 hour chart and put my entry in the zone (blue squares) . Since the movement only have broken the overall channel once and only by 130 pips i've also put a sl above the channel at 200 pips just to...
EURUSD HAVE CLOSED BELOW THE 2 WEEK UPWARD SUPPORT! NOW WE ARE LOOKING FOR IT TO BREAK THE HORIZONTAL SUPPORT ( BLUE LINE) before considering entering short if the break holds and does not retrace ( false breakout!) The trend is your friend and even tho the last 2 week have had upward momentum the overall bias on the daily chart is downward. Knowing this we would...
AUDJPY have now reached support of a 2 week uptrend! However the overall trend is downward on the daily timeframe and the pair has formed a double top formation close to the overall resistance level! We will now look for short opornunities if the pair breaks through the 2 week support and rejects upward momentum! We will look to enter at 74.020 with the tp of last...
