fyfie

fyfie

My main screening process alerted me to this potential move on this pair. As you can see, there are a number of MACD trend lines broken on both the MA lines, and the histo, so momentum is bias towards the downside. Add to this an area of apparent resistance at around 1.14061, which happens to be in line with an area that showed supp/res on the way down. Also,...

fyfie

Clear trend line break... It also has all of the supporting elements of RSI line break, MACD line break and divergence on both. Price has been rejected, shown in the form of a pin bar.

fyfie

Recent low on gold has been violated, so it's time to start looking at shorts on Gold. This of course means that I'll be closing any USD shorts as soon as the pull back has completed.

fyfie

Recent high broken, looking for next most recent high to be tested.

fyfie

Recent high broken, so the most likely future direction is to the upside. Looking for some sort of pull back in to structure to take a long position.

fyfie

Based on price action slowing down, and a bit of basic analysis, I believe theres around 100 pips to the upside to be had... A nice potential 3-1 R.

fyfie

A nice triangle pattern or ascending wedge (or combo) with some reasonable downward momentum. I'm looking to be fairly aggressive with this one, and go short on the next turn. I use progressively lower time frames to confirm and time entries, so I'll be watching this one closely from now on in... Looking at targets around the next major lump of structure, which...

fyfie

My trade plan and thoughts on HSBC... Any feed back from the crowds? Conflicting ideas would be welcomed!?

fyfie

Opportunity to jump on a harmonic move to the downside (straight in to some very nice structure). Very nice risk reward ratio.