#SPX SNP500 Is Reaching The Same Zone For Short OpportunitiesTraders, A W pattern is forming on SPX (SNP500) and this pattern completes right where we had previous zone. We shorted this before from that zone and we can do it again too but only after a confirmation.
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Fibonacci Confluence
#XAUUSD #Gold Weekly Top Down AnalysisTraders, Gold found strength last week to move higher but be careful. As I posted on May 8th, this can be a fake breakout. All signs on gold are still bearish. In this top down analysis I present all those factors.
1. Monthly W patterns
2. Weekly W pattern
3. Daily Double/Triple top
4. Daily RSI divergence
5. 4H W pattern.
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#GOLD #XAUUSD Update:High Probability Zone To Watch For ReversalTraders, gold has violated the previous zone and is over stretched. It is trying to reach a level where it can reversal (at least for the mid term). As most traders are long, this can reverse any time to create a huge bull trap. So I am watching all the potential reversal zones. None of the other technical reason have changed at all.
1. Monthly W patterns
2. Weekly W pattern
3. Daily RSI Divergence
4. 4H W pattern.
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#BTCUSD #BitCoin Weekly Top Down AnalysisTraders, Bitcoin has been moving exactly how we expected. But the last move was not complete. It is probably trying to create double/triple top patterns on daily and 4h charts. So we can expect it go down a bit. However we also see a bullish case in this analysis.
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#AUDUSD Weekly Top Down AnalysisTraders, AUDUSD gave us few very good short trade profits. This is not over yet. With any sign of strength in DXY dollarindex, we can expect AUDUSD to fall further down a bit more. I will look for an opportunity to short at a better price level.
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#GBPUSD Weekly Top Down AnalysisTraders, GBPUSD has been moving nicely as predicted. It has hit the profit targets and now we can expect a little upwards reaction before it moves towards the new profit level.
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#EURUSD Weekly Top Down AnalysisTraders, EURUSD seems to be losing its grip on that monthly 78.6 fib level. There have been several attacks on that level and if that breaks we can have very good opportunities.
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#DXY #DollarIndex Weekly Top Down AnalysisTraders, DXY, dollar index now has more chances of going higher than lower. Past week has created few minor structures which can support the DXY. That also means that USD pairs such as EURUSD and GBPUSD and AUDUSD can go down too.
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#EURUSD Monthly Fib 78.6 Is Still HoldingTraders, EURUSD has made several attempts including a fake breakout to break monthly 78.6 but so far it has not been able to. That shows that EUR is not that wek as of yet and that in turn means that Dollar Index may weaken a bit.
P.S. (This is for education only. Not a financial advice or signal.)
#AUDUSD Can Give Us 2 More Opportunities, Long and ShortTraders, AUDUSD can give us 2 more opportunities. One long on the break of 0.65366 (inner zone) going towards 0.65960. Other one is a short from 0.65960 on the completion of a pattern.
P.S. (This is for education only. Not a financial advice or signal.)
#GBPUSD About To Reach Second Profit TargetTraders, GBPUSD if finally making its way to the second profit target at 1.22178. We can expect a bounce upwards. Next profits targets and important levels are marked in blue horizontal lines.
P.S. (This is for education only. Not a financial advice or signal.)
#AUDJPY Can Lead Higher But Bear Pattern Is CompleteTraders, audjpy in my opinion is expected to to go 70.779 where that blue MA is if it breaks 70.169 and closes above it on at least 4H timeframe. But a pattern is complete too so we will be looking for a bearish position once we have confirmation.
P.S. (This is for education only. Not a financial advice or signal.)