justTheRookieTrader

justTheRookieTrader

Date: August 15, 2024 Instrument: EUR/GBP Timeframe: 4 H Trade Type: Long Position 1. Market Analysis: Pattern Observed: A bullish flag has formed and completed on the EUR/GBP chart, signaling a potential continuation of the prior uptrend. Pattern Characteristics: The bullish flag is a continuation pattern that typically follows a strong upward move, with the...

justTheRookieTrader

Date: August 15, 2024 Instrument: EUR/GBP Timeframe: 4 H Trade Type: Long Position 1. Market Analysis: Pattern Observed: A bullish flag has formed and completed on the EUR/GBP chart, signaling a potential continuation of the prior uptrend. Pattern Characteristics: The bullish flag is a continuation pattern that typically follows a strong upward move, with the...

justTheRookieTrader

Date: August 15, 2024 Instrument: EUR/USD Timeframe: 4H Trade Type: Short Position, followed by a Long Position 1. Market Analysis: Pattern Observed: A leading diagonal is forming, suggesting a potential initial pullback before a continuation of the upward trend. Pattern Characteristics: The leading diagonal is often seen at the start of a new trend, indicating...

justTheRookieTrader

Date: August 15, 2024 Instrument: Gold (XAU/USD) Timeframe: Daily Chart Trade Type: Short Position (Pending Order at 2277.50) 1. Market Analysis: Pattern Observed: An ending diagonal has been identified on the daily timeframe, signaling a potential trend reversal. Pattern Characteristics: The ending diagonal typically appears in the final wave of a trend,...

justTheRookieTrader

Date: August 15, 2024 Instrument: Gold (XAU/USD) Timeframe: 30-Minute Chart Trade Type: Short Position at 2459.301 pending order will be great 1. Market Overview: Recent Performance: Gold has shown volatility recently, with a prior attempt at a bullish move that did not sustain. Current Sentiment: The overall sentiment remains cautious, with traders awaiting a...

justTheRookieTrader

Date: August 15, 2024 Instrument: Gold (XAU/USD) Timeframe: 30-Minute Chart Trade Type: Short Position 1. Market Overview: Recent Performance: Gold has shown volatility recently, with a prior attempt at a bullish move that did not sustain. Current Sentiment: The overall sentiment remains cautious, with traders awaiting a clearer direction. There is a potential...

justTheRookieTrader

Overview: The EUR/USD pair is currently exhibiting a potential continuation of the downtrend, as seen on both the weekly and 4-hour timeframes. The weekly chart shows a Flat ABC correction or Flag structure, which now aligns with a flag correction on the 4-hour chart. This flag, combined with hidden divergence, further confirms a shorting opportunity as the market...

justTheRookieTrader

Timeframes: Daily: Bearish Divergence and Reversal Structure Forming 4-Hour: Flat ABC Wave Correction or Flag Formation Market Overview: Gold (XAU/USD) is showing signs of a potential downside movement, with a reversal structure emerging on the daily timeframe. The recent price action has exhibited bearish divergence on key momentum indicators, suggesting a...

justTheRookieTrader

Overview: Gold is currently showing signs of a potential reversal, with bearish divergence forming on the charts. This suggests that the precious metal might be setting up for a shorting opportunity soon. Traders should be prepared for a potential downside move as the reversal structure completes. --- **Technical Analysis:** 1.Reversal Structure: - Gold is...

justTheRookieTrader

Overview: Gold is currently showing signs of a potential reversal, with bearish divergence forming on the charts. This suggests that the precious metal might be setting up for a shorting opportunity soon. Traders should be prepared for a potential downside move as the reversal structure completes. --- **Technical Analysis:** 1.Reversal Structure: - Gold is...

justTheRookieTrader

Overview: The EUR/USD pair appears to be forming a Flat ABC correction or a Flag structure on the chart. This pattern suggests that after the completion of wave A and B, a potential wave C is expected to form, providing both a selling and buying opportunity depending on the wave's development. Wave Structure: 1.Wave A (Completed): - The initial wave A appears...

justTheRookieTrader

The DXY(US INDEX) has been in a correction since February. It has been forming a diagonal structure since early July. The price has completed wave 1-4 of the diagonal structure. Wave 5 is pending. If the price breaks out above the trendline inside the diagonal, it could signal a sell trade to end wave 5 of the diagonal structure. The target is the wave 5 of the...

justTheRookieTrader

The DXY has been in a strong uptrend since the beginning of the year. The uptrend has paused recently, and the price has formed a flag pattern. This pattern is often followed by a continuation of the trend, so a buy trade at the breakout from the flag could be profitable. Entry: Buy at the breakout from the flag, with a stop loss below the flag. Target: The first...

justTheRookieTrader

The USDJPY has been trading within an ascending channel since mid-March. The channel is currently sloping upwards, but there are signs that it may be breaking down. The price has reached the upper end of the channel multiple times in recent weeks, but has been unable to break through. This suggests that selling pressure is building. The USDJPY has been trading...

justTheRookieTrader

DXY USD INDEX as lost momentum hopefully we see and continuation structure for the trend to resume

justTheRookieTrader

GOLD Hopefully the long awaited correction on GOLD we might see any continuation structure there or expect one

justTheRookieTrader

USDCHF forming an Ending Diagonal(Wedge) This correction will make way for an up trend

justTheRookieTrader

USDCHF forming a descending channel USDCHF is still correction