Gold rejects Daily ResistanceLooks like a pretty good Opportunity to me. Confluence on the Daily & the 60min chart.
1234.29 will be my target, but as usual you're free to choose some major support down lower for your target.
Take Care
Maximilian
Fakeout
EURUSD 4h Still BearishNo doubt that fake out caught many traders unawares, but price fell back below the resistance trendline in the next candle.
This slightly complicates my EU chart as I cannot really on that trendline as much now.
Price was very overbought in that breakout candle, and began to drop as USD started gaining more strength - bad timing as the markets closed 4 hours later, but such is life.
Anyway, EU's overbought condition will still continue into next week, probably during Tokyo, but definitely by London and Berlin.
Unfortunately, there will be high impact designated USD news: Trump's speech, and the GDP report - both of which send price whipsawing back and forth.
However, I still think EU will reach 1.0373, the question is whether price will spike up to the 1.07s before making its way down there.
UC research - regular fakeouts?Seems to be a regular pattern of fake outs setting major trends on 4hr chart with USDCAD
note the highlighted areas forming a new high/testing highs, then a sharp reversal.
Current position also appears to be similar with 1.312 as a major support line
Will continue doing more research...
EUR/AUD - Waiting for a pullback for a short entryFX:EURAUD
The rate broke the consolidation range but run straight into the major falling trendline from August 2015 and fell right back into the familiar range so I am now looking for a pullback to the former support which should now become a resistance around 1.4440 to 1.4470 to target the lows around 1.4120 again.
To check the video about my weekly set-ups click here
AUDUSD Bearish Fakeout, back up to resistanceA couple weeks ago, AU broke a support trendline (not pictured above), and broke the support at 0.7450. Now we know that this was a bearish fakeout. If any of you have read "Naked Trading", there was also no Last Kiss setup here.
There is also building bullish momentum on the MACD indicator at the bottom.
Now, I think price will be heading up to the 0.7700+ zone.
Markets playing tricks with my pivot points!!So after the market reached those fresh highs past 1.1400 handle the polls were still in favor of Bremain.
Thankfully I decided to abstain from referendum craziness so I didn't take the buy order as I would've in any other day of the week. Now we have breached lower levels we can have a bit more confirmation on the direction of the markets. I'm looking for congestion around 1.1100 and breakout to the initial move. I placed a pending order but that doesn't mean that you should too. Past results do not guarantee future performance. Thank you for any comments.
GBPJPY-FAKE Breakout made a mistake on everyoneFocus on the last two and three candle ,the first one made us consider price already get into bullish ,but another candle made a correction on it, and now GBPJPY has more space to go down
NZD/USD 30 min Bull Trap and Daily Bearish FlagLooks we have a potential Bull Trap on the 30min. Over all the trend has turned bearish, making lower lows and lower highs. There is even a Bearish Flag on the Daily chart. I'm looking for price to breakout of the channel past resistance at .6760's and the .382 fib back to .6794. There is a 1.618 inversion that lines up with the .618 retracement. There is also a big fat juicy red candle that opened at this area; also a fresh supply zone for you S&D traders. To add we have the .6800 even handle a few pips away for added resistance. I'm looking to get short at.6794 with my stop at .6818. My first target is at .6760, where the potential breakout starts and a follow up target at .6710. Good luck trading out there.
NZD/USD 30min Fake Out on a Stop PushI'm looking to get long in a stop push. On the 30 min chart on the right looks it like some support showing up around .6740-6737. I'm anticipating a bunch of longs being pushed out around .6730 because that would the logical spot to have your stop. So looking to get long when everyone would be getting stopped out around .6729. I would have my stop just below that small Rally-Base-Rally zone at .6720 (yellow box) on the 5 min. I'm looking to close the trade around .6795. Good luck trading out there.
Trade idea: Bullflag + Stop Running OpportunityA typical bull pennant with diminishing volume at the end.
Whales might try to run the stops bellow 372 in a very sharp move.
This trade idea becomes invalid once price reaches the apex of the pennant without any significant action.
