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Aussie Dollar Short Entry - Missed

Kiwi Dollar

Aussie Dollar Look

Assuming we're in a wave 3 down, some high risk/reward short entries are setting up. Bullish only if we break the daily highs.

Trading the Aussie Dollar Downtrend

Gold Update

Gold lost its 3 hour channel only to regain it by close. 1180-1181 and 1184 are important areas that need to stay resistance in order for the bearish count to be valid.

Gold Top Update

gold top

top is in

Aussie Dollar Short Update

Gold Short Trade

Stops above the highs

Euro Almost at a Top

Euro should be finishing its 5th wave with the upper limit for 5 being at 1.5303, right where our weekly resistance is. Above that area is a good place for stops if shorting the peak

Aussie Dollar Short

Targeting a 3000+ pip move

Aussie Dollar Trade Set-up

Very high risk/reward short at 0.9336, where wave 3 began and v = i

potential 4th wave gold triangle

looking to go long in the "e" region, triangle is invalidated below c

gold short

short against the channel

Euro Triangle Look

Euro broke the triangle to the downside - this trendline must stay resistance for further downside

Dollar Breakout

US Dollar was in a triangle and broke out to the upside today

Silver Short Term H&S

Euro in a Triangle

Let's see where this breaks... if north new highs should be seen where we can place our long term short. If south, down to new lows is likely with an initial target of 1.38.

Silver May Have Topped

Silver breached the upper channel and wss swiftly rejected. If this area stays resistance a major top is in.

Another Gold Trendline

Gold Major H&S Top Potential

If we break the H&S neckline after a right shoulder, look out below.

Gold Update

Only looking at shorting gold if 1143.50 is lost and made resistance

Gold Update

Only looking at shorting gold if 1143.50 is lost and made resistance

Some Euro Scalps

Some questionable euro scalping

Silver Trade Update

Silver made a new high but is still under the channel. If short, stops are above the resistance trendlines shown.

Gold Update

Gold made a new high and is vibrating the upper trendline. RSI divergence with the new high.

US Dollar Long Term Look

US Dollar index has found strong support in the 74.75 area but any rally attempt thus far has been met with selling. Would need above the descending trendline with an impulsive move to confirm a reversal.

Euro Trade Set-up

After an impulsive move lower, a trade to short the retracement is in play. There is big resistance at the 61.8% retracement around 1.4940.

Gold Back At Trendline

Important area again

Gold Potential H&S

Watching for H&S also. The expanding triangle was broken and made resistance so further downside is possible.

Silver at Important Area

Next resistance level on silver above the channel is $19.45

Gold at Pivotal Moment

Gold has continued on its parabolic stagectory and has lost its expanding triangle. If gold reclaims this triangle a larger correction is expected. If gold breaks its recent high at 1143.50 and that number is made support, gold may continue moving parabolically to resistance at 1059-1064.

5 min Gold - High Risk Trade Idea

Price bounced off this trendline and RSI continually - high risk short here with a stop above the last high.

Euro Trade Idea - Long Term

Gold Update - Expanding Triangle in Play

Gold found resistance at the upper trendline of the expanding triangle where a high risk short presented itself. Support at 1111 must be lost along with the lower triangle trendline in order to confirm a reversal.

15 - Nov - 09 - Wher e is Gold Now?

Gold lost its 1hour TF channel and found support on a lower trendline. The lower channel TL can now be modified to form an expanding channel with the upper trendline. After regaining $1111.0 resistance, no forseeable short-term trades exists. Areas of interest are $1111.0 support and the lower and upper trendlines of the expanding channel for now.

Trading Gold using Technical Analysis

Figure 1.0 - Gold Channel - 1 Hour Time Frame

Gold has been contained within a channel from November 3rd until November 11th as seen in Figure 1.0 on a 1-hour time-frame (TF). Opportunities to go long would have had to break this upper channel trendline in attempts to catch an imuplsive upward move. Short opportunities were high risk as minimal trend reversal arguments could be made.


Figure 2.0 - Potential Head and Shoulders Pattern

Having pulled back from its channel, gold found support at November 9th's $1111.00 high. An impuslvive move to $1122.65 was observed followed by a quick return back to $1111.00 support. An head and shoulders pattern (H&S) could then be followed for the potential to short the re-test of the broken neckline. This pattern can be seen in Figure 2.0. It is not uncommon for traders to short the right shoulder using fibonacci retracement levels and other tools. A lower risk trade is to short the re-test of the broken neckline using proper money management. H&S patterns will often hit a target of the length of the head below the neckline. This would give an H&S target of $1099.35. An important psychological support level for gold also exists at $1100


FIgure 3.0 - Trendline Bounce

Gold was observed to hit resistance on an 8-hour TF trendline (TL) as seen in Figure 3.0. Continued downside from the top TL in the 1-hour channel and 8-hour TL increases the probability of a pull-back. The neckline of the H&S was poked before a right shoulder formed. Gold then returned to and broke the neckline at $1111.00 support and retested the "support-made-resistance" neckline where a low risk short trade presented itself. Gold then hit a low of $1100.40 before reversing.


Figure 4.0 - Working Head And Shoulder Pattern