rufffen XAU spot gold and majors trades

[rufffen]

FX - USD CHF USD JPY update

OK, thought I had a spare minute posting quick thoughts on FX. Im fairly confident there are some formations indicating further upside on CHF and JPY, CHF upside is 2300 capped and JPY 121. The reversal is coming up sometime next week, current levels are good for building up LONG possies on both items (1 2030/ 118 80).

XAU spot gold weekly zones were not triggered, although intraday (zones not posted) BUY ZONE was triggered and now I favor shorts. 675/652 upside/downside seems to be the area where future price action will be determined.

I will update all items accordingly next Monday/Tuesday, I might be out the office on Monday.

Stay tuned and enjoy good trading.

[rufffen]

Ok, sorry guys, no updates last week as Ive been away, this week we have following BUY / SELL zones on XAU spot gold:

XAU spot gold

644
651
658
660
678
680
687
694

This week I favor shorts as well. Looking at GBP USD and EUR USD I would look to short the items, but I can't recommend any solid levels.

USD JPY should have a strong reboung shortly, as there is definite upside potential for this pair (capped at 122). Keep posted coming week.

[rufffen]

Ok, been very busy lately, setting up two commercial ppty funds for the company, Im still trading, same style, rely a lot on technicals and my proprietary zoning tools, here's my view for the next week / this month on EUR USD GBP USD and GOLD, you may have to download PDF viewer (such as Acrobat Reader) to view the attached file.

Please enjoy, any comments/feedback/suggestions please PM me. Also Im not a singal-service provider and the insight I provide is to be used based on your own discretion. Thanks!

[rufffen]

Here's the file. Weekly/Monthly EUR GBP and GOLD analysis.

[rufffen]

supplementary to my previous post, EUR USD 1 hour chart, looks like a triangle breakout waiting to happen, but can't be sure which way it will break. Presented is a good area/zone to look for LONGs.

[rufffen]

possible trade on EUR USD is SHORT NOW 4655 SL 4720 TP 4500 R/R ratio 2:1. OR wait till market opening and watch price action, failure to breach 4700 caps further upside and will signal weakness with targets at 4500 area.

[rufffen]

GBP JPY update 4 hour chart

GBP JPY wild swings lately! What a chart. Just checking 4 hour chart, there is a more than a decent R/R trade setup, a potential LONG worth little over 600 pips mid-term. Have a look at the chart and be prepared to go LONG.

Hard to pinpoint a decent entry, position traders can jump in at current prices, althouth SL will be set below recent lows at 224, which is a 300 pips exposure, so might as well wait for EUR USD and GBP USD monday opening to set direction for the week, best to buy slightly below current levels (227.30).

Try to make sure your R/R is at least 2:1, I normally never trade anything below 3:1, however this opportunity looks fairly decent to me now.

[rufffen]

GBP JPY update

Ok, looking at an alternative chart (daily), the item is currently in downwards sloping channel and mid-term a three0drive0to0the0bottom pattern can unveil.

Previous scenario with the 4hour chart I posted seems to be invalid. I calculated monthly Sup/Res Buy/Sell zones, they are as follows:

22288
22683
23079
23201
24236
24358
24753
25149

Currently trading at 223.35 GBP JPY is nearing 222.88 range, which is the lowest border of the montly support area, so if that is broken GBP JPY will likely arrive at 214-216 area as indicated on the chart.

....elsewhere

SPOT GOLD

did retrace, as expected, in 772-776 area currently sits at 796, if you had longs since 7720776 good idea to close them and wait for further downside action this week. Longer term charts suggest further upside, however capped at 820 this month.

EUR USD

trade resulted in SL being hit for a total of -65 pips. I favor further downside, as apparently EUR USD it topping on daily charts, charts attached.

GBP USD

Based on my recommendations you could be LONG this item since good levels (levels in the PDF file), however trade was hypothetical and any potential profit won't count.

Trade setups

Since anyone can post charts and claim hypothetical results, I will try to print solid TP SL and buy sell levels evey week. Generally R:R ratio I target is 2:1 3:1 at least, so for every 50 pips I risk I try to target 100-150 pips in profit. My SL on EUR USD trade are most often 50 pips TP 100-150GBP SL is 75-100 pips TP is 150-300 pips range. for most trades. Gold trades SL is 5 TP is almost always 15-30 dollars.

PLEASE NOTE!

Trade setups are generated on Saturday/Sunday and are posted ONCE a week, I can review charts, post ammendments during the trading week.