The XAUUSD pair has been in a downtrend with lower high, lower low. Looking for an entry for short position at: Entry zone: 1725-1735 SL: 1775 TP1: 1690 | TP2: 1600
With the central banks printing money and keeping yields low I think gold is going to continue its up trend in the long term. However, after the recent upward run the price is going to consolidate for a while, any moves towards the supporting trendline should be an opportunity to buy on dip with target at the the old top 2075$/oz or even 2300.
The trend is up and the pair is consolidating. I am buying on support zone looking forwards for the break out to the upside with first target at 1.20 and second target at 1.25
Looking for a failed retest of the previous support, which has now becomed a resistance. TP is based on the 100% level of fibo extension.
Looking for a reversal signal to enter a long AUDNZD position as the price is approaching the lower line of a rising channel
Wait for D1 chart to retrace and enter a short position if there is a bearish reversal signal. I do not recommend enter a short position right now because this bearish wave seems to near its end.
The idea is based on the respect of this pair for the 61.8 fibonacci retracement level. I'm looking for bullish signal in the zone of 61.8 - 78.6% retracement zone for an entry with stoploss below H2 low and take profit at 1603 based on fibonacci expansion.
Please check if I drew the bearish butterfly wrong? I based on an indicator on MT4 and I'm really not sure about it
Can anyone check if I drew the bearish butterfly wrong please?