GBPJPY buy at 0.618 pull back

we see a strong rally break previous
downtrend channel.

it is always good to oberseve
when price pull back to 0.618
and buy

While I was waiting for FED I made this chart. I highlighted all the FED and FED minutes days.
On the 27.04. we had a FOMC meeting. At those days we were also in a triangle.
The next day we broke out of the triangle and printed 2 days of strong rally to the daily cycle high. (Highligted by blue rectangle)
I think there is a decent chance the same thing is happening now. This week we should print the daily cycle high and we need a higher high above 1376.
If you watch the chart very carefully you will see that we closed above the bear market trendline today (green). So if the powers want gold to break out they will do it tonight in the next few hours.

Indicators:
MACD wants to crossover
RSI is heading to overbought - bouncing the 2nd time without getting overbought

If I'M right we will have a pop to 1390-1400 in the next 2-3 days that will be the cycle top of this 2nd daily cycle.

I will set this idea as long. I'm long from 1315-1324 and still convinced about the breakout to 1390.

P.S.: Thanks to mrtommifunn who helped me to find the 27.04. breakout

The minutes for the FOMC meeting, released yesterday, resulted in the dollar weakening across the board. The Fed’s objectives are to maintain price stability and maximise employment. Despite the robust growth in the job market in June and July, household spending and business investment remains weak.
Inflation is still below the Fed’s 2% target, due to the earlier drop in energy prices and lower prices for imported goods. Exports have declined as foreign demand subdued. The global economy has been subject to vulnerability and growth is still sluggish.
The Fed anticipates gradual rate hikes, yet the recent economic indicators have given mixed signals. Despite some FOMC voters concern that a long term low interest rate level may have an adverse effect on financial stability, the Fed takes a cautious stance on a rate hike by watching carefully the job market, inflation, and global economic growth.

Look our Plan Setup:
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https://www.tradingview.com/chart/EURUSD/NG9Hp0RT-EURUSD-SIMPLE-BULLISH-SETUP/

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The GBPAUD broke the down 240 trend and made an impulse up , I am waiting for a correction before any buys .
Will be on the road all day so nest post later when I checked in a hotel.

Trade with care
Thank you for your support .

Oil will retrace soon, now the correction wave was completed!
Sell for a retracement, target at 45-44.6

Long term still go long

Hey, mates. Gartley pattern is completed

i am watching this very closely to short this for the 5th time in a row as shown on the chart (red arrows). Will i be getting one more chance to short this from this area? if so i will be interested to short this between 1356-1361 with 1367 as stoploss and take profit open for now..

Good luck n green pips.

lots of people are confused about EURUSD. just saw this Gartley now. and also found stoch is in over brought territory so I am taking a short ppostion,

Bearish wave looks like corrective and may bounce back to the top i am expecting buy setup. I am waiting for bullish signal on lower time frame if it appears i will update that.

Technical


With a Potential Double Bottom and RSI Divergence on 4 Hour Chart which might tempt people to go long,but i personally will prefer to stay neutral to short for the moment and watch the 100.75 - 100.95 zone which seems to be the dividing line between bulls and bears atleast in the short term.


Fundamental


With recent FOMC minutes showing that a September Rate hike is highly unlikely which will keep the USD under pressure for few months to come.


Sentiment


Too many people are Short the Dollar in very short run in my opinion.


Conclusion

This potential Double bottom and RSI combo could produce a nice rally and a possible squeeze required to throw some weak shorts out of the system.


Happy Trading Everyone
Manage your Risk :)

Expecting EURUSD to start a correction and go back maybe to the bottom of the channel in the next days.

I have shorted NZDCAD on the retest of 0.9330 broken support-turned-resistance today. Inline with my previous analysis for the pair.

All my ideas are just my personal view. Trade Your own view.

I have no incentive to post if i don't get enough support from you. Likes and comments Appreciate your support..
You can SKYPE me at : Technician - The Forex Channel
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Technician

FX_IDC:AUDJPY

https://new.tradingview.com/chart/EURUSD/PyQ2bJKG-Butterfly-Pattern-Engagement-Rules-Educational/

Safe Trades;

Touched to strong level 78.6%
Now need be correction to lower level 61.8%

Major resistance - $1368

Major support - $1338 (21 day MA)

The yellow metal has once again regained till $1355.99 yesterday after making a low of $1336 yesterday and it is currently trading at $1338.Gold gained sharply after FOMC minutes left markets confused on the timing of the next hike.

The major resistance is at $1358 (Aug 10th high) and any break above targets $1368/$1375 in the short term.

On the lower side, support stands at $1338 (21 day MA) and break below will drag the commodity down till $1330/$1315 (55 day EMA)/$1295.

It is good to buy on dips around $1345-1348 for the TP of $1338 for the TP of $1331/$1316.

although daily pattern appears bearish (Bear Flag) EU Bulls could be on their way to test top range and complete final pattern wave.

--Still waiting on a pullback to test Yellow TL, won't be long till a decent pullback occurs.

POLONIEX:ETCBTC was born making a correction as usual in the most of the coins, it means the bull market is next, so patience, we need some sideways before rallying. Fundamentals: BTC will stay sideways before the last rally, ending finally in an important retracement. In the meanwhile ETC is strengthening its roots by the fast growing hashrate (strong mining farms joined), dev team and the community growth, also the fact ETC is born to ensure the blockchain principles must be unalterable.

Although there is a strong support at 0.0026, price could be threatened by wicked hands, so it is the only reason why etc would retest the bottom at 0.0003 (less probable for me), there is not any other factor to that.

My position: I am long but I play spot market for now.

After breaking through the illustrated neckline, a double bottom at 99.6 appeared. The countermove is still in tact and we are now trading near the next action point at 100.8 - the neckline and former bo-level. Here a desicion has to be made. From a cyclical view, i would exspect a further downwave as long as we trade below 100.8. Trading below 99.5 will activate the next short signal TP 2 is still 99, than 96.(For more details have a look at my main view)
Anticyclical view. Trading above 100.8 could reach till 102.5

Most of my updates are only up to date for my followers - i mostly update my ideas in the comments, not through another publication - so please follow me if you like to get updated every time! Comments are welcome and very helpful for me - Agree or Disagree.

Supports: 99,6/99.5
resists:101.10/ 101.25-101.44/ 102.2

Last view & comments:
USDYPY FORMIG AN BEARISH H&S?
https://www.tradingview.com/chart/USDJPY/0Qgno7SG-USDYPY-formig-an-bearish-H-S/
USDJPY reached the 38.2 fibo retracement of the last downswing (105.6-100.6). Here the rebound stopped. The ultrashorttermtrend turned bearish again. At the moment, we are trading near a possible action point (blue). this level @ 100.6-100.8 is the level to watch! Here a desicion has to be made imo.

Trading below that level should initiate a further downwave down to the longtermsupport 100 - Here i exspect a temporarily rebound.
The RSI signs a weak bullish signal, so that we can exspect, that a right shoulder can be formed before the "real" dip will come.
Trading above the "shoulder"-level is bullish . The market could decide to aim the maximal correction level fibo 61,8 @ 103.71. The neckline @ 100.85 is also a part of the "action point".

Supports: 100.87 / 100.6
Resists: 102.54 / 103.71 / 105.36




Main view: SHORTCHANCE BELOW 105?
https://www.tradingview.com/chart/USDJPY/vqLn0mZx-Shortchance-below-105/