GreyTrades

GreyTrades

Hello traders, I'm back, Gold appears to have formed a head and shoulders pattern on the 1 hour timeframe as displayed on the chart. I believe at some point tomorrow that the $1952 major trend line will be tested, this trend line also coincides with the 61.8 fibonacci retracement of the bullish gold outbreak since the Russian invsaion of Ukraine. Now the question...

GreyTrades

Hi traders, gold has rallied significantly this week and is looking exhausted, it is now time to take advantage during the Asian session and sell gold since it needs to retrace to a better demand zone before any more significant rallying. Enter your short trades now, or when markets reopen with your stop set at 1902.7, this is high enough above the daily high...

GreyTrades

We are approaching Wednesday when Russia intend to invade Ukraine, this fundamental news has been priced into the market. We should trade the news headlines and expect large volume in gold tomorrow. Currently gold has seen exhaustion as market participants priced in the likelihood of Russia invading, this has since eased notably last night after diplomats stated...

GreyTrades

Hi guys, I am currently still bullish on gold until we test the upper boundary of the compression triangle around 1850. The blue lines around 1828 indicate a pivot point so once the 4 hour closes above this take that as an entry point or wait till a more desriable higher risk reward entry point at around 1817. The DXY is looking more bearish on the higher time...

GreyTrades

Take as you will. Look at how the price action is building liquidity into the market before NFP on Friday. NFP is a high impacting factor and will cause volatility in the market. I am short term bullish for this week but long term bearish. As NFP is highly volatile make sure to have your trade ideas marked before the event, look at where liquidity in the market is.

GreyTrades

In this chart I will be showing the major trend lines and significant higher time frame sell zone which we should look to enter sell positions into the market expecting a push down to the low 1800s over the next 2 weeks. First let me explain this weeks fundamental drivers. Important news this week includes the Bank of Canada interest rate decision which is...

GreyTrades

We have seen an extremely bullish DXY so far this week which should relate to a decrease in the price of gold since they are inversely correlated. However today we have moved relatively flat in the price of gold. If gold is to push higher, as shown on bullish HTF, we should expect a move to a supply area for better risk buys to enter the market, this area is shown...

GreyTrades

After todays CPI announcement of YoY at 6.2% and MoM at 0.9% we saw the markets begin to selloff, including the US30. This however in my opinion will be short lived, with markets already starting to recover as there is simply so much money floating around the markets at this point in time. Jerome Powell is still the favourite to get reelected as the next FED chair...

GreyTrades

Look to the chart; expecting a fib 0.618 retracement as gold turns bearish with some profit taking occurring and gold slowly sells off to a more desirable purchase area. Money outflows from gold into indices should also occur tonight / tomorrow since the indices fell but slightly recovered as investors took the opportunity to buy the dip. Gold is a risk off asset...

GreyTrades

Hello traders, here we come to a pivotal point in the chart for gold. Based on previous price action we see that gold has already reacted to this price zone 3 previous times, each time coming into the zone before price retraced as large sell orders were added. We should expect this to happen again as this is where smart money has placed shorts, coupling this with...

GreyTrades

Personally I see gold melting into the asian session to a better demand zone at the 1807/8 mark. Gold is preparing for a big move up to the monthly / weekly higher resistance at the 1834/6 level. This is leading up to when CPI data is announced on Wednesday and when I would imagine gold to either react to this zone with a wick up and then melt or continued buying...

GreyTrades

Here I've posted some analysis for the next trading day up until NY session tomorrow. As it stands I am longer term bearish on gold since the price closed within the bearish daily trendline indicating bears are still in charge. As gold enjoys to take out the daily low and high I believe we are set for a bearish move to grab more liquidity to the 1790 region, this...

GreyTrades

Just posting my trendlines for any use they may be, we are either headed for 1680 or the 1830 liquidity, since I'm bearish I believe we may get a small bull as shown towards 1800 before more major selling pressure. This could be a right shoulder formation on the H+S pattern, as shown I dont believe we will reach the 1812 area again. I will update this idea as it plays out

GreyTrades

Here's the first short idea for monday's NY session, since gold closed bearish on the daily on Friday, the market structure appears to be setting up for a move lower towards the 1680 liquidity, rather than any higher towards the 1830 liquidity. If this is the scenario you should be certain to short at the start of the NY session before big volume comes in and...

GreyTrades

Looking to sell new daily highs today so set your sell limit for just above the previous high or above 1796 for a nice short once the NY volume comes in to a better demand area. There should be a slight liquidity grab on the buy side as the last trend line gets touched, watch this to see how gold reacts and manually enter your short if you haven't already set your...

GreyTrades

I expect there to be a small rally in the price of gold during the asian session, this is because the bullish technical support will maintain golds uptrend and gold will break through the descending resistance as shown on the graph. Sellers wont retain to the market until higher price points as shown on the graph Use a tight SL in order to achieve the 3:1 risk...

GreyTrades

Details of the trade are shown in the photo, nice risk reward of 3 to 1 purely based on some technicals. I believe some stocks have rallied and are now at overbought prices to the extent some profit taking may occur at the next level marked since the moving averages are nicely diverged. This will cause profit taking to occur and a small likely correction for more...

GreyTrades

As shown, overnight trade here, Great 3 to 1 ratio of risk to reward, I expect the Asian market to take advantage of oversold conditions and to buy until the London open, close the trade before London open once you wake up