KingWenz84

KingWenz84

So we look to be trading within a channel. We have broken through this resistance which should turn to support, as I has done before. I can see this going back up to the top of the channel however I am only taking this up to the last main high.

KingWenz84

So we had a bull rally as a result of NFP last week. We have now come to a critical level. If this gets stopped out this will become bullish, however in the mean time I am bearish down to the last low. We have been trading within a bearish channel for the past few months, we have also broken the previous supporting trend, and with the push up from NFP have come...

KingWenz84

So this pair has been trading within a bearish channel. We have hit the bottom and have 3 straight candle closes showing rejection from the support. Along with this Gold is expected to drop. I am longing this up to the shown level of resistance.

KingWenz84 Updated 

So as you can see I am still long on this pair. I am holding a position from last week but I am now adding to it as DXY seems to have broken down through the supporting trendline. Going with my standard 1:3 RR.

KingWenz84 Updated 

So I have posted a few ideas based on the bearish $. As per a chart that I posted a few weeks ago I see $ going down from the resisting trendline. Now this went up slightly higher than the referenced idea however there was no clean break of this trend. You can now see we have broken down below 2 levels of supporting trends on the lower timeframes which given me...

KingWenz84 Updated 

So following on from my post yesterday my bullish trades are currently in profit. with Stops at entry and partial profit taken. I have taken a look at the bigger picture and I can see a potential HS pattern emerging. I am using the shown resistance for my target on my longs as this is the level to the left shoulder and the underside of the broken trendline. If we...

KingWenz84

So we have come back to the resistance to create a double top. We have signs of rejection from this resistance. This along with the DXY bullish break, and the US 10 year yields bounce from support. all of this gives a good indication of the next bearish push for Gold.

KingWenz84

So I am long on this pair after a nice break are retest of the resistance turned support. I am going with my standard 1:3 RR however I see this going higher. After this trade is complete I will wait for the next pullback to potentially go in again.

KingWenz84

So Gold has created a double bottom with some rejection from support. We also have DXY which has broken down through it's supporting trend. This given me confluence that this can go long for a retracement. It is risky as it is going against the trend. I am going to give this ago with small lots on a 1:3 RR.

KingWenz84

So we are still bullish on this pair, we are seeing a slight pull back on the lower time frames. I have added a small long at the shown level on a 1:3 RR. however as the title suggests this is quite a risky one.

KingWenz84

So this pair has come back down to the strong support level to create a double bottom. Along with this DXY has rejected hard from my level of resistance and is looking like it wants to drop. Therefore I see this pair going back up to the shown resistance, however I am sticking to my 1:3 RR.

KingWenz84

So 1st trade this morning worked well. We have now come back down to the supporting trend... so lets go again... again 1:3 RR

KingWenz84

So this pair is trading within a bullish channel and has hit the bottom and created a double bottom. I am going to take this up to the resistance level and then see what happens when we get there, I see it breaking and going to the top of the channel.

KingWenz84

So this is my thinking for the next week or so for the $. It is showing very bullish at the mo but how high will it go. Watch for resistance at the shown levels.

KingWenz84 Updated 

So we have broken out of that all important long standing supporting trend. We are now seeing a slight retrace before, what I believe will be a further bearish push. There are 2 levels of resistance in which I am looking for a rejection. With the news this afternoon we may see a spike up before the downward movement, or this could simple fall through the floor....

KingWenz84

So this pair hit the top of the bearish channel on the higher TFs, spiked out but came straight back in. I now see this continuing bearish as the DXY is also looking very bearish. I am therefore going for my standard 1:3 RR trade.

KingWenz84

So we have come back down to that all important supporting trend. Will we break it this time or once again bounce off it. Personally do not see this breaking the support quite yet. My thinking is that we have some bearish divergence on the US10 yields, which is also approaching a strong level of resistance and has a high RSI of about 75 on the hourly. Also the DXY...

KingWenz84

So, I think the chart say it all... But as I need to add a description... You will see this is clearly bearish with the classic lower highs and lows. You will also see that we have recently retraced back up to test the underside of the broken support trend turned resistance. We are now seeing some ranging on the lower TFs, as well as bearish divergence. That's...