mmrabea

mmrabea Updated 

Set up: Prices have started a possible downtrend after reaching this week's highs. We see a break below the hourly S/R zone which we take advantage of and enter at the retest of it. Trade: Set the SL above the latest hourly high and TP at the daily 0.875 S/R zone.

mmrabea Updated 

Set up: Prices formed a strange head and shoulders pattern on the daily time frame with a lot of choppy action due to market uncertainties.. we take this opportunity and carefully short the euro from current levels. Trade: entry at current price setting SL above the 61.8% fib level and TP at the corresponding fib retracement.

mmrabea

Set up: Daily retracement to the 61.8 fib level and a previous S/R zones (dashed line), possible continuation of the downtrend. Trade: Entry at the psychological 1.3 level, setting the SL a few pips above the 61.8 and the previous S/R level. TP is taken at the relevant fibonacci extension.

mmrabea Updated 

Setup: The index collapsed following the global economic meltdown. We are currently seeing a possible retest of the 38% fib level after being rejecting at the 50% level, indicating weakness in the buying forces in the markets. Trade: Selling the index at the current level, setting the SL slightly above the last high at the 50% fib, and the TP at the corresponding...

mmrabea Updated 

Setup: Weekly uptrend formed, price has retraced to the W1 38.2 fib level and expected to continue the trend to the upside. On a daily perspective, price has made a good impulse to the upside breaking above the strong and important 1.385 resistance now turned support level. Trade: We take a long entry at the daily retracement to the broken level mentioned above...

mmrabea Updated 

Set up: Price exhausted after almost a thousand(!) pip move up from last week, we see a head and shoulders formation on H1. Trade: Entry at the current price with a SL above the current trend line slightly above the last high aiming at the 61.8% fib retracement on the last move, closing the gap opened over the weekend and retesting a major resistance turned support area.

mmrabea Updated 

Setup: Prices retraced to the 38.2 Fib level after an impulse which created a new high at the ±1700 level. Trade: Entry at the retest of the strong 1650 area, with targets set at the 1740 level (-27.2 level) and 1790 in extension. SL is set slightly below the 50% fib, protected by structures both at the 38.2 level and previous low at ±1642

mmrabea Updated 

Set up: Price just broke above a daily level of resistance (green rectangle) in a bullish impulse to the upside. On H4 it's beginning to form a little uptrend. Prices should now retest the resistance now turned support which we'll use for our long entry on this set up. Trade: Entry at the R/S (green area) with the SL not far from the previous low to allow for the...

mmrabea Updated 

Set up: Confluence of a daily high zone with H4 50% Fibonacci level signalling possible reversal as the RSI levels are in the overbought areas.A series of news releases on the 17th and the 18th may bring volatility to the pair and push the prices down. Trade: Entry potential at convulsion of the D1 resistance area (green dash line), keltner median channel line and...

mmrabea Updated 

Set up: Oil/Brent prices rose on hopes of easing of the corona virus cases; yet fundamentally the glut in production (over 7MM bbl of production) as well as longer term consequences of the virus/economic slow down; indicate that they may drop significantly from the current monthly high zone which is also a Daily resistance area; a lucrative spot to start a sell...

mmrabea Updated 

Setup: Price broke back into the previous week channel, and heading to test the edge of the H4 uptrend channel; which validates why the overall sentiment is still Bullish for Gold. We enter close to the edge of the channel, H4 trend line with a TP set at the high of the week and larger SL a few pips below the pivotal zone of $1492 to ensure we don't get stopped out.

mmrabea Updated 

Setup: Prices are nearing 2015 lows indicated with the two parallel horizontal white lines, we see signs of weakening bears as we approach these levels, signifying a possibility in a trend reversal. So, we set up a long entry at the edge of the H4 channel area coinciding with the 2015 lows, aiming initially at the first area of H4 resistance, with possibilities of...

mmrabea Updated 

Setup: In correlation with the rest of the GBP pairs and the current political situation in the UK, the 130 resistance (area) has been tested for the past week failing to close above it.. prices are also closing in on the strong and steady D1 downtrend line boundary which can indicate more volatility and bearish entry opportunity soon. We set up a short trade...

mmrabea Updated 

Setup: Price just broke out of the all time high around the 7.173 area, retested this area and showing signs of further strength to continue the uptrend. We enter at current price levels, set a tight SL under the 7.17 zone and aimed TP at the 78.6% Fibonacci expansion level.

mmrabea Updated 

Setup: Prices are following a very strong and steady D1 downtrend, as well they're testing a strong H4 resistance zone that hasn't been breached over the past week. Additionally a triangle formation has formed between the correction upward line and the main daily trend. I expect prices to breakout from their current positions downwards, so I'm setting up a short...

mmrabea Updated 

Setup: Price is testing the edge of the H4 uptrend channel, forming a double bottom, this coincides with a resistance turned support level on the H1. We enter at current price zone, TP set at the high of the week and SL a few pips below the latest rejection.

mmrabea Updated 

Setup: Price is approaching the H1 respected downtrend line, where it repeatedly bounces off. CAD is closely and positively correlated with the oil prices which is witnessing a continued steep fall so this could factor in the expected decline of the CADJPY. We enter at the current zone, set a SL above the previous high and TP at the previous lows with a possible...

mmrabea Updated 

Setup: Price has been testing the H4/H1 downtrend line failing to close above it, forming a triangular channel. We enter at the next bounce off the line, setting the SL at the previous high and TP at the psychological level of $54, with a possible extension to $53.11