You can see price moved down so great ( I mean , price consolidation on below fibo retracement 61.8% ) . Usually if condition like that, mostly price pullback. And I thought, price have capability UP until fibo retracement 38.2 %
on daily timeframe, short term : I thought price gonna get pullback to re-test 142-143 long term : Then after touch 142 or 143, then price will dropping massive
Last week price dropped as correction, to re-test old resistance 1.00400. And now, I believe price will flying until reach weekly supply area.
One week ago, price succeed breakdown the support 112. and now, let be USDJPY rising and very ideal for us to selling USDJPY on fresh sell area ( 111.103 )
I found there is 3 bearish warrior dominating the movement WTI on weekly timeframe, which mean, the price get a lot of pressure to going down next week
My eyes found there is possibility similar movement . Just compare the 2 yellow circles.
Yesterday on May 16, 2019, buyers out as winner when they were push up the price succesfully. Now, with a little correction , I believe price will continue rising.
When you see my draw, I wish you could understand why for us to take long position better than short. Keep simple your analyse with SD strategy
It will take time to see sell confirmation from around 1300-1306 then BUY from 1239-1241
Although price in condition starting down, consider if GOLD actually in SIDEWAY. Means between seller and buyer are same power. And if early May 2019, price down only until 1267, which mean there is something will happen , perhaps buyer still wait right momentum to give us surprise! In my opinion, price will take moment to UP , for re-testing the area bullish...
There is general secret , if correlation between EURUSD and USDCHF is negative. So if you see my previous analyze about EURUSD is strong bearish, so then USDCHF in trend strong bullish. Just make easy your trade style if know area supply demand and correlation pairs
We must understanding the power of analyze supply demand , which in this case of EURUSD, supply is still running. So I advice to you , to keep selling EURUSD
No need to rush to trade this pair. Although many sound out there that saying buy buy , but however,still there is space for price to continue down until fibo 88.6%
When price was breakdown 1.12300 as support , I believe price no chance to bullish. Just wait pullback around 1.12195 to sell from there