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Doji

EUR vs CAD Doji at SupportLooking at the EUR vs CAD on the daily time frame we can notice two days of indecision for the pair since the bearish fall from prior resistance at 1.53019. The indecision is noted with the two doji's formed at the support level at 1.49114. Doji candlesticks represent indecision as neither bears or bulls control the market. Prior to the doji at support the market had four decisive bearish days closing out with a long bearish candle near the support level. This level appears to be a level were buying pressure is present as the momentum turned quickly from bearish to neutral at this point. I look for the support level to hold and the market to bounce from here and attack the top of the range at 1.53019 long term. If price closes below the support level then we know we are wrong and we look for the support to become resistance and find another opportunity. Have a great trading week and God bless!
Long
by ChaosTrader63
20
Gold found support and looks ready for move higherFrom the beginning of the year gold was in uptrend from $1179 to $1392 (around 20%) then sold off from highs but found some buying support $1268-$1278 (around 50%-61.8%). ENTRY: This pullback is still controlled and with this 1) doji candle bounced off from support zone it gives me entry with tier1 then 2) I will add if it will hold above moving averages ($1300) and 3) another point will be break up of trend line @ $1310 STOP: 1) below low of doji @ $1277.13 2) below $1268 support zone's low TARGET: 1) 200 MA @ $1320 2) swing high @ $1330
FX:XAUUSDLong
by andrew.berg
3
AUD vs JPY Doji at SupportLooking at the AUD VS JPY we see price stalling at support @ 95.151 as price has formed a doji candle stating indecision and stalling momentum. Look for a close above the doji candle to enter a long position. If price forms a lower close then we know we are wrong and we do not enter a trade. Keep in mind that a doji candle is not a reversal signal but rather indecision. A conformation would be a close above the doji as price would then show that the buyers have entered the market and attempting to take over. Have a great trading day and God bless!
Long
by ChaosTrader63