bhavik3691

bhavik3691

Hi! I hope you are all well and safe during the pandemic. Over the past few days, GOLD has dropped from its 1900 levels back down into the 1700s after the FED meeting. Drawing FIB retracements from 1680s to the 1900s, there is support at the 1760-1770 range, depending on where the retracement is drawn from 1900 or the highs from 1917. Together with the daily and...

bhavik3691

Howdy! Hope everyone is all well and safe during the pandemic. My thoughts on CADJPY are that it has made a decent comeback towards 87.6. I can see a head and shoulders forming and the chart is approaching very strong resistance at 88. I am anticipating the right shoulder to form and for it to test the 78.6% fib. If this breaks I am thinking it could see itself...

bhavik3691

CADJPY has ranged from 83 to 85 over the past week with it almost reaching 85 by Wednesday and dropping back down to 83.6 at the close for this week. Despite this, the pair still manages to stay on the short-term support it has built throughout February (purple line). The RSI is relatively low at the moment, though from the past few days I can see a possible right...

bhavik3691

Hey all! Hope you are all well and safe during the pandemic. I'm starting to see a possible H&S forming, with a possible right shoulder forming the peak at 83.75, with a possible drop to the support line around 81.9 drawn from mid-November with a SL around 84.4. Please leave a like if you agree and comment on your thoughts on the trade. Thanks.

bhavik3691

Hey all! Hope you're all well and safe during these troublesome times. I've seen the late afternoon jump on Friday where CADJPY jumped up towards 84 but slowly returned back to 83.5, most likely due to the weekend. I can see a possible short option if the harmonic plays out as there appears to be a double top. My target is the 82 region, which fits the support...

bhavik3691

Oil has started to form a double top around the $53 region with a key fib level of 0.786 @ $51 being broken recently and the price will most definitely return back to it. I'm anticipating a big drop, either immediately or via a delayed move back down to the 0.618 fib via H&S which if broken could see a drop to the 0.5 fib @ $32 acting as strong support. With the...

bhavik3691

I'm starting to see a possible H&S on the 4H time frame. Emphasis on the word "POSSIBLE". I entered a short at 46.15 yesterday thinking it would start to descend to the lows of 43 but 46.15 became the new support level but it failed to pass the 48 level which is acting as a possible peak for the second shoulder. Still holding my short from 46.15, I'm waiting till...