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Kojoforex

XAUUSD: Potential downward movement on GoldIn the past days, we have seen XAUUSD Price create an uptrend channel from 2400 to 2531 thereby making 2531 the ATH on XAUUSD . On H1 time frame, XAUUSD has successfully danced to the tunes of trendline by having 3 close contacts with the trendline. Should we expect a 4th contact??? 🤔 Price seems to have respected the ATH resistance level Could this be a reason for a potential downside momentum?? Well if price breaks and retest the trendline, we may see price drop down to 2490 and below.
OANDA:XAUUSDShort
by Yode_dapo
GBPJPY Sell Analysis: A potential downside opportunity...The GBPJPY currency pair has been attracting attention recently due to its notable price movements and trends. Traders are eyeing potential opportunities for short positions based on technical and fundamental factors that suggest a bearish bias. This analysis aims to outline the reasons behind considering a sell position on GBPJPY. A clear bullish trendline has formed on the GBPJPY chart, connecting multiple highs. This pattern indicates a potential continuation of the uptrend. Recently, price broke out of a uptrend, and formed a double buttom chart pattern. The pair has broken below key support levels, in view of this we expect price to retest the psychological level @184.824 - 184.652 If price successfully retest this level, we may see price push down to 183.600 and below This is only a Sell Bias NOT a signal, so we suggest you wait for candlestick pattern or chart patterns (on lower timeframe) before taking entries on this setup. ______________________________________ Like, comment and follow for more juicy trading ideas 💡
Short
by Yode_dapo
GBPAUD Sell Opportunity 📉This guy moved in a ascending chanel from 1.81000 - 1.91500. We waited for price to break the ascending chanel so the bears can come in and go short... Guess what!!! It did! Now we need a sell confirmation👍 Hmmm price retracement would be a good confirmation. If this guy plays his retracement cards well and respect the immediate resistance level, we could see price push down to 200 pips or more if it does not break and close above the resistance zone📉
Short
by Yode_dapo