- Search Forex Factory
Let’s start with the usual baseline. The following was a snapshot from the last time I wrote a more considered bitcoin analysis, which was August of last year. chart The current snapshot in the bitcoin daily chart below shows the cryptocurrency ...
- skenobi replied Jun 28, 2021
I just saw this today. To be frank, the answers you seek are still in the last 60+ pages. Maybe you haven't truly digested it. But I'll write a considered reply soon. I'm busy with other things.
- skenobi replied Sep 18, 2019
I suspect everything there is to know about how bank traders operate can be found in this thread. With particular reference to my replies in that thread. If you don't find that thread useful, just ignore my suggestion. All the best!
- skenobi replied Jul 26, 2019
Gold dropped below 1415 after ECB looked like they're not in a hurry to expand interest rate stimulus. But price recovered back above because it seems markets think they know better than a bunch of central bankers. What did I think? I never thought ...
- skenobi replied Jul 25, 2019
Gold is steadily holding its bid tone, bouncing off 1415, the level I called "artificial" about 2 posts back. The only fundamentals in play: economic data in the toilet, prompting expectations of lower interest rates from the central banks of major ...
- skenobi replied Jul 24, 2019
(The following comment is just to add some context to my general gold commentary) EURUSD is testing the 1.1145 bottom of the range target as per the Weekly chart. image Note that the S/R levels on the W1 chart is exactly the same as on the Daily ...
- skenobi replied Jul 23, 2019
1415 support is holding well on XAUUSD, but do still watch out for stop runs for 1410. That 1415 level seems to be "artificially" supported (i.e. price seems to "refuse" to touch the 1410 target), which to me is another sign the support is ...
- skenobi replied Jul 23, 2019
So gold went higher yesterday purportedly on the back of a weaker dollar. Does today's price action mean yesterday's reading of recent dovish Fed comments had become irrelevant? I don't know. I just like that my S/R levels are still holding. For ...
- skenobi replied Jul 22, 2019
So my SL buy stop at 1435 was taken out. Price action triggered a fresh buy stop above 1440, but I closed it out early at 1446 to more or less breakeven out of this misadventure. And of course, my S/L remained respected all the way. As you ...
- skenobi replied Jul 17, 2019
Gold is riding on a sliver of a whiff of USD weakness, purportedly on the back of weak US housing stats. Price is presently stalling at a familiar ceiling on the H4 (no surprises there). And all my S/R levels on all four timeframes of reference are ...
- skenobi replied Jul 17, 2019
Gold is coming off from 1413 in the H4 and H1, and is already stalling above H1 support around 1404 (the bottom of the yellow box in H1). image image I'm still calling for a touch of 1400 if only because human beings soooo love round number ...
- skenobi replied Jul 15, 2019
Thanks for your feedback! As for Powell's speech this week, he doesn't strike me as a James-Comey-type drama queen i.e. I don't think he'll insert policy clues in the speech he's about to give. But we'll see. For context here are my never-changing ...
- skenobi replied Jul 15, 2019
In the background this Monday: China posted better-than-expected industrial production and retail sales stats. Asian stocks are firmer as a result. FX moved as well, but at the tiny rate it moved, it might as well have not moved. Assuming the ...
- skenobi replied Jul 11, 2019
Gold took that breather as I had thought it would. Price cleared 1419 (the bottom of the yellow box), and then the weak interests around 1416 (mid-point of the blue box). image It managed to clear the pink range to 1405 but failed to follow thru ...
- skenobi replied Jul 11, 2019
I had expected the dollar to weaken only slightly, not as much as it actually did after Powell's initial remarks at his testimonial. That said, XAUUSD is currently stalling around 1425. Let's face it. If Powell's remarks had any more bite in it, ...
- skenobi replied Jul 11, 2019
The pullback up to 1394 occurred and my short was stopped out at 1397. image Spot gold managed to complete 3 sets on the way up before stalling in the 4th set (1419-1426). If spot really is taking a breather, price may try to test 1419 support to ...
- skenobi replied Jul 10, 2019
.... and these are my AUDUSD and USDJPY charts: image image image image image image I'd think spot FX across all the four pair I showed will either complete the set on their respective H4 charts (i.e. the dollar will strenghten), or the ...
- skenobi replied Jul 10, 2019
I'm beginning to think gold is a lil bit more interesting to trade than FX these days. The following are my charts for today, for the common pairs of EURUSD and GBPUSD, with their H4, H1, and M5 charts (for the scalpers). image image image ...
- skenobi replied Jul 10, 2019
Despite the textbook reactions expected from Chairman Powell's interest rate bias (or lack thereof), markets can really go anywhere and the financial press talking heads will find all sorts of reasons to justify why they were right (or explain why ...
- skenobi replied Jul 9, 2019
The 60-bar SMA on the H4 is finally turning down. image If I was trend-following, I'd be shifting my mode to selling any strength of pullbacks towards 1405 with tight stops. The H1 chart is confirming this shift in mood. image Below you'll find ...