Structure has been broken at the 15 min frame. Expected a potential retracement in between the fib-levels of 50% - 61.8% from the previous low and previous high. Price came up to that area and became a set-up. Lets wait and see how EJ moves next!
After the US Non Payroll news, Cable took a dive back down to our major support area. This area held and price bounced back up, adding to the strength of the support area. So, will GBPUSD continue moving higher? Or will it break structure again and move lower once more?
Real answer is that no one truly knows! Trading is based on probabilities, so what is the...
US30 has been a bear market for about two months and recently price gave us a new higher high. What this does is increase the possibility of more bullish momentum. Current support level has been holding nicely. IF price manages to hold at this level, we could begin looking for an entry here BUT a potential higher risk. Although personally price has to close above...
* Keep in mind this is just an idea, trade at your OWN risk! *
1 ) As you can see, this market seems to be giving us a H&S formation. Price is currently at what may be the "Right Shoulder."
2 ) You may also see two boxes marked "50% Fib Retracement" and "61.8% Fib Retracement." This is where I anticipate for Gold to rise and where it may start giving us...
