Forwarded from DovyFX | PREMIUM
AUD/JPY
Weekly timeframe chart is looking bearish and on top last weekly candle closed bearish after rejecting resistance.
On 2H we have a nice supply area above where we can look for potential short opportunities as it has a lot of volume in it as well.
Weekly timeframe chart is looking bearish and on top last weekly candle closed bearish after rejecting resistance.
On 2H we have a nice supply area above where we can look for potential short opportunities as it has a lot of volume in it as well.
Forwarded from DovyFX | PREMIUM
GBP/JPY
Daily timeframe is also at resistance with previous daily candles already rejecting it before
30 minute timeframe gives us a supply area + 0.5/0.618 fib retracement.
I will be closely following how prices moves around this zone for potential short opportunities.
Daily timeframe is also at resistance with previous daily candles already rejecting it before
30 minute timeframe gives us a supply area + 0.5/0.618 fib retracement.
I will be closely following how prices moves around this zone for potential short opportunities.
Forwarded from DovyFX | PREMIUM
EUR/GBP
Also rejecting resistance on daily + daily candle with no wick at the bottom.
On 2 hour price is potentially forming a head and shoulders right at the resistance and showing weakness.
Break of market structure lower would trigger my entry.
Also rejecting resistance on daily + daily candle with no wick at the bottom.
On 2 hour price is potentially forming a head and shoulders right at the resistance and showing weakness.
Break of market structure lower would trigger my entry.
Forwarded from DovyFX | PREMIUM
XAU/USD (gold)
Gold is bullish technically and fundamentally.
Currently it is sitting at support and daily candle with no wick at the top.
Break above supply on 30Min will be a great confirmation for entry to go long as we still have some room to go before we touch the next big resistance.
Gold is bullish technically and fundamentally.
Currently it is sitting at support and daily candle with no wick at the top.
Break above supply on 30Min will be a great confirmation for entry to go long as we still have some room to go before we touch the next big resistance.
US100
This chart clearly visualizes why we had so many breakeven trades and 2 trades hitting TP2 and the reversing back to breakeven.
You might as why I was looking for short positions yesterday even though there were negative news that came out for the dollar.
It is because hedge funds have largest short positions since 2011 and it is rare that it will not have any reaction to the markets.
We might see a lot of manipulation to the upside, to get as many retail traders to enter longs, before eventual big drop.
Currently price is at the top of consolidation and when that is the case, we have a very simple task - sell high/buy low.
This chart clearly visualizes why we had so many breakeven trades and 2 trades hitting TP2 and the reversing back to breakeven.
You might as why I was looking for short positions yesterday even though there were negative news that came out for the dollar.
It is because hedge funds have largest short positions since 2011 and it is rare that it will not have any reaction to the markets.
We might see a lot of manipulation to the upside, to get as many retail traders to enter longs, before eventual big drop.
Currently price is at the top of consolidation and when that is the case, we have a very simple task - sell high/buy low.