mryoung

mryoung

Last 2 months Gold was pretty much in a free fall, once it cleared 1290ish levels it went down sharply. It is currently sitting at strong support around 1220. If it breaks first resistance TL it could go up to next SR zone which is at 1240. In case we break through 1240, our next target is 1260 which is another strong SR zone + there is next resistance TL. On...

mryoung Updated 

One more time, we have nice consolidation triangle on EURUSD. Last time it broke the support TL and went down. This time we have almost the same setup. If price breaks resistance TL - we should see retest of 1.20ish zone. On the other hand if we see break of support - we will look to 1.1520 as support and further break below would indicate possible drop towards...

mryoung

So guys, here we present textbook trading opportunities in USDCHF pair in last 2 weeks. First trade we took and got some nice profit locked in, but other 2 trades on chart we missed. Why? Because we just didn't pay a lot of attention to the pair. Anyways after analyzing the pair we saw extremely nice break & retest / pullback opportunities in this market. When...

mryoung Updated 

This pair had a down move last couple of weeks and now it formed nice rising wedge pattern which is usually a trend continuation sign once broken. On H4 timeframe keep an eye on break and close below 149.13 level, and for agressive entry you can short on retest of that level. If you prefer safer approach, wait for close below rising wedge support line and then...

mryoung

The pair is approaching strong SR Zone + ascending trendline on Daily chart that was acting as support back from Feb 2017. In this area we should see buyers coming in and this would give a good opportunity to enter the trade. Good luck!

mryoung

On Weekly chart we can see simple purple Support Trendline that comes back from May 2016. In Feb 2018 we broke through it and last 2 weeks we were retesting this line, but it showed huge amount of resistance. IF this week candle closes below the trendline and makes tweezer top formation we could definitely be looking for another leg down towards 100 area. Good luck!

mryoung

This is the simplest chart for BTC we could create. BIG RED DOWNTREND LINE IS BROKEN. Wchich means that between the moon and current price there is only one line standing and it's 11660 resistance. If we see this price broken, then we should be seeing new highs very soon :)

mryoung

EURUSD is ATM hovering around 2018 key support level - 1.21550-1.21650 We have very anticipated news tomorrow coming from ECB which will give us the direction for Q2. In case this level gets broken, supports zones that follow will be around 1.20800 and next one is at 1.19200 On the other hand if we see hawkish ECB comments next station is 1.22600, then 1.23140,...

mryoung

It seems that we have a triangle in play for this pair. Break of either support or resistance will tell us where this pair is headed for the rest of the week. If we break to the upside our first resistance is around 1.23900 and 1.24200 behind it. On the other hand, 1.2343 needs to be cleared before further downside.

mryoung

Yesterday we saw slight pullback after weaker UK data but the pullback made it's way only to the area of previous resistance, which now clearly acts as a support. This gives us a nice opportunity to go Long on the pair chasing new highs for 2018 - with target around 1.44 Good Luck!

mryoung

Hello everyone, this is our weekly outlook for EURUSD pair for next week(s). We are seeing nice triangle in play at the moment. Should a breakout happen and daily & weekly candles close above resistance line - we should wait for pullback/retest and then go long. If the price doesn't manage to break the resistance line, we should look for long opportunities from...

mryoung

This is our view on the pair for following week(s). EUR was underperforming on dovish Draghi comments, but Dollar is suffering because of trade wars. From the beginning of the year we saw couple of those correctional trend lines (and if you scroll back through the chart you will see all of them) and after they got broken we saw nice push up towards new...

mryoung

After hitting strong support at 1.2165 zone, bulls took back the control of the pair. Daily close gave us very nice and strong bullish engulfing candle indicating that this could be next impulse to the top. We would go long on break of the TL. Keep in mind that 1.229 is also strong S/R zone, followed by 1.2345 and 1.239 We need to see those zones broken first...

mryoung

Price broke 8 month long ascending trendline, was retested and it seems that we are finally bearish on this pair. On Weekly chart we can see STRONG bearish engulfing candle and if the week closes around this price it means that trend is changing. We would be waiting for the retest of the resistance line at 134.45 and then enter short position with first target...

mryoung

On H1 chart we can see that a lot of buyers stepped in at around 1.2330 area 2 times in a row indicating that we will go up again. Plus the break of downtrend resistance line is here. We are setting 2 targets, first @ 1.25, second @ 1.263 (in case 1.25 resistance is broken). GL!

mryoung Updated 

Sterling retested broken downtrend line one more time and bounced back telling us bulls are in control of the market. Let's see if we can hit the top of the ascending channel. TP around 1.4 SL around 1.345

mryoung Updated 

Daily chart gave us clear falling wedge. It's resistance line looks broken. We are seeing potential upward movement on this pair. We will be looking at lower timeframes (1H) and see if this resistance line becomes support. In this case, nice long is coming with first TP in R1 area on 0.985 and second TP on R2 area 0.9015. Good luck!

mryoung Updated 

Technically the pair has landed in our overlapping S/R Zone, and it didn't manage to break above. Also it retested dominant downtrend resistance line which was very respected back from September 2017 and the pair also did not break above. This is telling us that bears are taking control of the market and that the pair could be dropping down to previous support...