From technical perspective, the price moved to significant orders in the past. And once reach there, there's bearish engulfing candle formed. To see inclination of price movements coherently:
1. GDP of Euro Zone in stagnant level without significant increase or decrease (demand in EURO is stagnant)
2. Japan CPI keeps growing (demand in YEN)
Therefore, there's...
The Elliott wave which reflect Market participant's psychology is in the middle of Bearish, in Intermediate range (on the way of Wave 3 - blue Waves), But if its initial impulse (Wave 1 - Blue) is broken, then we need to consider that there's a change in sentiments. But so far, Bearish position should be safest way for Gold to trade
Kiwi got All Time High since 2019, which indicates US would balancing its weakness soon, against current condition in the wake of The US toward Covid19 and after New President got elected
Euro Yen has been downside within period of 6 months. While there's indication that it becomes oversold until who knows when, which can be confirmed by rejection at strong support , the strong one which can be seen many years ago ( @120.75 ) - current price. Strongest trend is down, but subjective mind of mine tells its going to have a Bullish retracement...
Head and Shoulder pattern just appearing
If only price had momentum to shoot upward reaching 129 area, traders should prepare for its swing down a little bit, and adjust position accordingly
But if price has rejection before 129 area, probably price shapes consolidation in moment forward
Im just prepared for long
Price shows us fake out near Lowest point of consolidation
There are 3 scenarios here :
1. Price fails to return for bearish, it shall has weak downward movement toward 1218 (buy)
2. Price returns for bearish, it shall has weak and little upward after reach 1218 (prepare for sell)
3. Gold remains stable, with bigger spread of consolidation (make fake out again...
Hold the risk per trade as max as 0.5% total from balance
Black Rectangle indicates there are strong pressure from overall market sentiments
Hopefully big institutional who directly influencing market condition
Yellow Rectangle indicates the level that the order was accumulated but already broken, or filled by orders
Green Rectangle indicates point where i...
Strong support area around 144.5 certainly gives us lead that sellers has been breached it, to rule the market for a week now.
With this information, we certainly need to enter the market on the first up-swing.
Where to enter, depends on the power of buying price that we hope, both weak and, slowly filled the empty order resulted by very Impulse Selling as shown...
0.6675 : strong barrier of Support, assuming it is the decision buy for Top Market Players.
By knowing its area was broken in the last weeks, it gives us the signal, that there are no more buying interest in this pair.
The last indecision of price around 0.6700 shows the winner of its battle, the sellers.
If only price hit this level again, it will bounce for...
Gold has fallen to critical price now, it has been in free fall since 16 July 2018.
Meaning the market put interest, in another US dollar - instead of Gold, despite the gold provide more reliability.
There is no decision for now
Gold reached the critical price of course, but there is no sign that its going to rise, because the market seems lack in buying power to...
Trendline abstraction (as always its called abstraction, since the use of it is very subjective) clearly broken down.
The uptrend which happened since last year (June 2017) until April 2018 was no longer make higher low as clearly seen in chart.
Price was swinging down, started in May 2018, broken down the 1.650 (demand area) also 1.450 (support area).
Such high...
Psychological of Market :
Downtrend started in June 2017 ( around 1.3500 ) was breaking the monthly support of April 2017 ( around 1.3200 ).
In the past weeks, this pairs reach its potential buying reversal started in February 2018, reaching 1.3200.
Recent Price Action :
The buyers certainly had gotten very massive profit since February 2018 assuming they are...
Analysis :
This currency has been going up since August 25th 2017
The abstraction of trendline (trendline is very subjective, thus i called it abstraction line), noticing us that the currency is low in demand (or in terms of Dow Theory, doesn't make Higher Low), it creates Lower High instead, broken down the Strong Demand Area around 1.7600
Turns out there is...
Initial downtrend was started at around 1.60 since May
Last month (June) it closed below initial trend , however it is clear, that the buyers is pushing up
Now the price is actually at around May monthly support (that was broken by sellers forming downtrend - May)
Short position is taken based on the analysis :
The buyers was not enough to push sellers who...
