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XAUUSD - Jan/Feb (THE BEST TRADE SETUP FOR THE YEAR?_I am going to present you with the absolute best setup we could see this year! XAUUSD Upward Channel on the 4his reaching its top and key level at 1850-1860. XAUUSD Is also reaching the Peak of the Downwards Channel since its ATH Last Year What does this mean? Institutions will begin entering their positions to short gold to potentially 1750. Each time Gold has reached these levels & Channels, we have seen an average of 5-9% downwards movements within a 1-2 week period followed by a long bullish move. THIS WILL ABSOLUTELY Repeat. Let's take the average of 5% downwards move to be conservative; we are going to see prices go down to 1750-1775. Moreover; if you see the strong move back on March 21', you will understand that this move will likely replicate such a pattern. GOODLUCK!
OANDA:XAUUSD
by ProfXAU
Double bottom on USDJPYYesterday we saw a trendline breakout here on USDJPY. This is the first signal for a potential reversal. Right now we're seeing another downside push, but price is at strong support level. This is a chance for price to bounce off and form a double bottom. This setup will be confirmed once we have a breakout of 110,75 when we would have a confirmed double bottom. This will be the right moment to make an entry. If you're more conservative and you don't like risking, then wait for that double bottom confirmation. And for those of you who are willing to risk more, you can watch out for the hourly candle close. In case it leaves a long wick, then you can enter and place your SL below that wick. This will give you a very decent risk to reward ratio. Follow us for other quality opportunities and specific trades!
Long
by ForexTrendline
9
Is the breakout legit? The Japanese Yen has been on the defensive against the US Dollar for the past three weeks. The rally takes price through long-term downtrend resistance most likely the result of extremely poor economic data coming out of the YEN a few days ago. IF price can mark a weekly close above the trendline moving long could be a good play.- simply put, we’re looking for validation. I think USD/JPY is way to stretched for now and am expecting a reversal and retest of break out level by end of the week.
Long
by Maveric12