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Gold forecast january 2nd

letrader Posted 15 Nov. as Analysis on XAU/USD, Target: 1350.00, Date: 2nd of January, 12:00 GMT  in #Technical analysis #Gold #XAU/USD #Seasonality
1300.00 USD has been both a key resistance and support level for the last few years.
Since the end of 2016, where you can see the third green arrow from the right on the weekly chart above, gold has been trending higher. It has recently tested the lower support trendline at the rightmost green arrow. the upward trendline and the 1300 resistance/support level are forming an ascending triangle.
Also, If you look at a gold seasonality chart, which is basically the average performance of gold for e…
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rashadali 15 Nov.

good analyze  )

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USD/JPY proves resilient once again

al_dcdemo Posted 1 Sep.  in #Trader's blog #Nfp #USD/JPY #Seasonality #Adp #U S Jobs Report #D1 Chart
U.S. jobs & wages report for August fell short of expectations on most metrics. August is historically weak with regard to NFP figure but Wednesday's strong ADP figure gave U.S. dollar bulls some hope that this time was different.
It wasn't and the immediate reaction was to sell the dollar. The report itself was not great but was solid enough and subsequent price action seemed to agree. USD/JPY is ending the day and the week near highs and above 110.
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Cable Seasonality Pattern Points Lower

Daytrader21 Posted 18 Oct. as Analysis on GBP/USD, Target: 1.5086, Date: 1st of December, 12:00 GMT  in #Technical analysis #GBP/USD #Psychological Number #Seasonality #Support/resistance
Cable is showing a strong seasonal pattern to go lower during the month of November. We can see that during the previous two months GBP/USD has been moving in the same line with the seasonal pattern and this may be a strong case to assume that it will continue to do so in the next month.Don't forget, never use this information alone but instead use the technical tools to confirm this ideas or not, so we're going to look at technicals as well.

Important levels to watch:
[l…
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Daytrader21 9 Nov.

Update 3: As expected the strong seasonality pattern that we saw in cable has played out quite well. Even thought after recent sell-off we have hit our target there is still scope to break below current support level which is the big psychological number 1.5000. A break below this level will bring us to 1.4880 from where we should expect a strong rally and correct the entire sell off.

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Daytrader21 15 Nov.

Update 4: there is scope for more upside until 1.5320 where we have a big pivot level from where we should expect to see a reversal. To the downside the most notable support area is around 1.5200 and only a daily close below this level should signal more downside.

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Daytrader21 22 Nov.

Update 5: Cable has been following his seasonal pattern very well over the past month and we should expect more downside to come.First level of resistance is at 1.5330 while support stands at last week low 1.5150

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Daytrader21 29 Nov.

Update 6: As expected we have challenged again the big psychological figure 1.5000 but we haven't managed to get a weekly close below it. This week we should expect to act as support level. For this coming week first level of resistance comes at 1.5110 only 24 pips above my initial forecast of just 1.5086. If the big figure holds there is a high probability that my level to be hit on the 1st of December

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Daytrader21 1 Dec.

Update 6 : This has proven to be a pretty good forecast with only 9 pips deviation from my initial forecast of 1.5086. As expected the fact that we couldn't close below the big psychological figure 1.5000 on a weekly basis has made this bounce possible. First we hit resistance at 1.5125 from where the sell off started and we close the 11:00-12:00 candle at 1.50772. This prediction was on target the whole day and definitely it could have been much better.

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Kiwi Calling The Bottom

Daytrader21 Posted 3 July  in #Trader's blog #NZD/USD #Bottom #Kiwi #Seasonality #Cot Report
Two days ago in my recent webinar I've been calling out the possibility of a bottom in kiwi. I'm not expecting a full reversal just a rally inside a bearish trend or a correction as nothing goes up or down in a straight line. Even last month I've been warning that we need to prepare for a bounce but also highlighting that timing the bounce is key, you can read what I had to say back then here: NZ Dollar COT Extreme
Figure 1: NZD/USD Seasonality

The reason why I've…
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July FX Seasonality Patterns

Daytrader21 Posted 1 July  in #Trader's blog #GBP #Patterns #Dollar Index #NZD/USD #Seasonality #Cot Report
Since a new month has started, the best way to asserts the probability of where the market is likely to be heading in this month is for us to look at the seasonality patterns. The seasonality cycles will bring in a new dimension in which you can analyse the market. Seasonality are a predictable change in price that repeats every day, week, month, year at the same period in time.
You can find more details how this seasonal patterns affect the exchange rate and more importantly how to correctly us…
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Expeaan 1 July

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Daytrader21 1 July

Expeaan Thanks for the nutritive lessons:)

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NZD/CAD Summer Rally

Daytrader21 Posted 30 June as Analysis on NZD/CAD, Target: 0.8591, Date: 3rd of August, 12:00 GMT  in #Technical analysis #Rally #NZD/CAD #Seasonality
NZD/CAD has the tendencies to rally during summer periods(see Figure 1) or at least to make a pause in the trend and stay inside a range. We can see that right from the first few days of Jun the market is starting to rally and more often it puts in place a major swing low. The seasonality are a strong tool to use but they never must be used alone and in combination with other technical tools, because the seasonality it only gives us the tendencies of what we should expect the marke…
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Daytrader21 26 July

Update 4: As expected we pushed higher from previous week support at 0.8440 and we managed to break and close above the big figure 0.8500 which is another positive sign for the bulls in the short term price action. Next week I'm expecting the big figure to be retested and old resistance to become new support.

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Daytrader21 1 Aug.

Update 5: Last Friday we saw the power of the big round number 0.8500 and the explosive rally from that level. For Monday we should expect a retrace to at least 0.8590 which is near my forecast target of 0.8591 and which is a previous strong supply area that now can act as support. The plan for Monday will be a break above Friday's high 0.8650 or a retest than a quick fade and a break towards 0.8590

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WallStreet6 1 Aug.

really great analysis!

Mariia avatar
Mariia 2 Aug.

well done Daytrader21

anna_n avatar
anna_n 2 Aug.

great thoughts as usual!

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Cable Fractal Map. Trade Explanation

Daytrader21 Posted 25 June  in #Trader's blog #GBP/USD #Cable #Fibonacci Retracement #Seasonality #Momentum #Fractal
In today's blog post I want to take the time and talk about my recent trade which was long GBP/USD. This trade was based on a market model or you can call it a fractal pattern (see Figure 1) that cable has been following since the start of the sell off from 2014 highs. Now, even though I got out of this trade relative fast the upside momentum should prevail if we take in consideration the seasonality cycles of GBP/USD which has the tendencies to strengthen during the summer time period and post …
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Cable Strong Seasonality Pattern

Daytrader21 Posted 14 June as Analysis on GBP/USD, Target: 1.5893, Date: 3rd of August, 12:00 GMT  in #Technical analysis #GBP/USD #Cable #Psychological Number #Seasonality
Cable is also showing a strong seasonal pattern to bottom during summer time(see Figure 1). We can see that this pattern is quite strong and the general strength caries on all the way through July until August comes in and where we have another strong seasonality pattern. Don't forget never use this information alone but instead use the technical tools to confirm this ideas or not, so we're going to look at technicals as well.
Figure 1. British Pound Seas
…
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Daytrader21 26 June

Update 2: This week we retrace the rally from previous week and we found support as expect at previous swing high 1.5810 which should be strong support for the next week as well. We need another push higher towards 1.5900 and eventually towards 1.6000 big figure before to resume down again.

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Daytrader21 10 July

Update 3. Even though we have a strong pullback the market is unable to have a weekly close below the big round number 1.5500. If this level holds we should expect next week more upside. First level of resistance is at 1.5650 a close above this level should initiate more upside momentum

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Daytrader21 15 July

Update 4: Since we managed to break again above the big figure 1.5500 we should expect further upside momentum. Also the 1.5600 level is an important pivot point and we manage to break and have a daily close above it, this level should act for now as support

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Daytrader21 19 July

Update 5: Cable is setting up the stage for another upside run as the seasonality pattern suggest. Also technicaly we have posted a double top at the 1.5670 level where many stops resides and in many cases this are taken out when we have such a clear double top. A close above 1.5670 can boost momentum and see higher prices in next week.

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Daytrader21 26 July

Update 6: As per my previous update right now we posted a triple top at 1.5670 which makes it even more higher probable that we'll see a break above it. Also this past week we stopped right above the big round number 1.5500 without being able to break below it suggesting the bulls are still in control

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EUR/CAD Elliott Wave Analysis

Daytrader21 Posted 14 June as Analysis on EUR/CAD, Target: 1.4383, Date: 3rd of August, 12:00 GMT  in #Technical analysis #EUR/CAD #Elliott Wave #Cycle #Seasonality
EUR/CAD has been trading to the downside since beginning of the last year when we put in place the major swing high at 1.5600. Based on Elliott Wave cycle we're in the last stage of this sell of, as currently the market has completed a 5 wave sequence. Each impulsive wave is composed by another 5 wave of smaller degree and we can count this wave both in wave III and now in wave V. Right now the current low at big figure 1.3000 has market the low and the final point of this down cycle. Right now …
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Daytrader21 15 July

Update 4: As expect the market found some support at the big round number and the fact that we could break below it suggest that the market is ready to resume upwards. The next level of resistance is at mid figure 1.4150 we need a close above this level for further upside momentum

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Daytrader21 26 July

Update 6: Wave C is almost completed and this past week we almost touched our target of 1.4383. We can still see another test of the 1h support at 1.4245 before to see another push higher. Basically I'm expecting an consolidation top here

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Daytrader21 1 Aug.

Update 7: Right now as I'm writing this update we're only 6 pips away from my forecast. But since the 1.4340 level is a strong pivot zone which has acted both as support and resistance level we should expect now this level to act as support and we can also see price hovering around this levels on Monday. I see another retest of 1.4340 than another push higher towards 1.4380 during the London session.

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WallStreet6 1 Aug.

I really have to study your analysis. I also use Elliot's waves, but never come so close:) Great job and just hope the price doesn't mmove away too much on Monday:) Good Luck!

Mariia avatar
Mariia 2 Aug.

Thanks Daytrader21 !well done

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AUD/JPY Strong Seasonality Pattern

Daytrader21 Posted 14 June as Analysis on AUD/JPY, Target: 98.3000, Date: 3rd of August, 12:00 GMT  in #Technical analysis #AUD/JPY #Seasonality #Support/resistance #Range Box
AUDJPY has been moving over the paste few years in a big range boxes and that's usually the case with a lot of pair crosses as this is their normal behavior. In Figure 1 we can see how this price action looks like. Usually when we enter in the territory of a new range boxes the new boxes that will form in the right side of the chart will use the middle of the range box from the left as the top and as the bottom will use the middle of the box from beneath the price action where most likely there …
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Daytrader21 19 June

Update 1: We're still moving inside the range box from Figure 1. Right now support stands at big figure 95.00.  We should continue moving inside this range zone for the most part in the coming weeks because of the summer trading conditions. Resistance stands at 97.00.

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Daytrader21 26 June

Update 2: The market it still reluctant to go higher and right now the 94.50 support level is retested. The fact that we couldn't break it and have a weekly close below it is a sign that we should see higher price into next week. Resistance stands at 96.30.

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