Price broke out outside the wedge to the downside, currently waiting for a retest before entering this trade. Targeting the 121.000s
OBSERVATION: After hitting monthly resistance price fell to daily support which confluences with the ascending trendline that has been acting as support since June. A break below could see price drop to 0.74400s then 0.73400s while a bounce will see prices rise back to resistance.
Pair: AUD/USD HR News: Thur., Fri. OBSERVATION: Price declining after hitting resistance level previously hit in May 2015. I will enter short on this pair after todays candle closes below the marked zone. 1-week view shows a breakout happened on the 10th of July meaning that price could be on its way down to retest the 0.775 area.
View: 4H HR News: Fri. OBSERVATION: After last weeks breakout price is rising again as it seems that the market have digested last weeks news but it could just be for a retest, I have marked two possible retest zones. Will monitor this pair for a suitable entry.
The pair retraced back to resistance, waiting to see if it will turn into support. Also watching out for new coming out on the USD.
This pair is currently heading upwards, I will keep my eyes on this pair to see if it breaks outside of the channel. Feel free to comment! Follow my Instagram @yc_forex
Pair: XAU/USD S View: 4H Time: 07.26am Observation: This pair formed a new lower low having broken through previous support which was tested twice and after and evening start pattern formation. 1D view is also in favour of a short. I will short this pair and target 1240.74 then 1222.31 and SL 1276.52. Risk/Reward is 1.4. Feel free to comment! Follow my...
Observation: Price finally broke past support and above a 50 pip candle. I entered long with a 1:1 Risk/Reward with my first Target @ 124.77 and SL at 123.226
As we can see, the top short term resistance line has been tested multiple times and has formed a triple top which may be a signal for bearish reversal. Another bearish signal is the fact that it broke below previous support and it is now re-testing it. I am waiting for a bearish candle to close below this zone before entering short. My first target is 1.50507...
if price stays above the top descending trend-line I am expecting the price to rise up, my first target would be 1263.64.
Price broke past the long-term resistance trendline @ 8am today, as expected price is coming back down to retest the trendline, waiting for this candle to close above the trendline before entering long. Target is 1.09777 and SL @ 1.08119. Uptrend, price has been bouncing of the DASR all SMAs are parallel and in place.
Yesterday @ 10am price bounced off the resistance trendline (around 1.28134), I missed this opportunity however price just hit a previous resistance level. (1.2900) Having used the Fib retracement tool I am expecting price to bounce back in the 50-61 zone (1.28600 - 1.28440) before going back up or if price breaks past resistance I will be entering long.
15.08 price hit daily support level tested numerous times previously, waiting to see if it will break past this zone before selling. New to this, feel free to give me tips and like if you agree!
4h view. Price is rising back above the Daily trendline support line after a high wave candle formed which could mean that this pair is about to retrace. I am expecting price to raise back up to 11.642 which has been a previous s/r zone. Waiting for this candle to close about this bottom trendline. I'm new so if you have any tips please share and like!
Price closed past the resistance trendily which has been tested 4 times previously and above the resistance level at 0.75742. I think the price will reach around 0.7600 before continuing its fall. This was a little rushed. If you have any tips please comment below. Like if you agree!
1D - Price has been ranging neatly within the channel since 20 Dec 2016. Currently price has bounced off my weekly support zone (1.06421). Spinning top candlestick formed at Support zone which may indicate a reversal of the previous trend, this is followed by a bullish candle. I expect the price to reach the 1.07643 Resistance zone. Going Long! Leave your...