Hi Team!
This week has been SO successful for us - my analysis of Gold and EURUSD has been especially on point.
Please see linked post for deep dive fundamental analysis on Gold.
We had a lovely scalp buy yesterday to the 0.618 Fib level, and we are now in the end region of wave two consolidative correction.
We have USD high impact news at 1300, and I expect this to be the driver of a drop. It is worth noticing that spreads and volatility are likely to push price up a little - perhaps even as high as a double top - before true market direction takes hold and we see a drop.
Please use risk appropriately, advise set stop loss to break even once at TP1.
I put a lot of effort into these analyses, so please like comment and share!
Be kind, trade safe.
DrBear
This week has been SO successful for us - my analysis of Gold and EURUSD has been especially on point.
Please see linked post for deep dive fundamental analysis on Gold.
We had a lovely scalp buy yesterday to the 0.618 Fib level, and we are now in the end region of wave two consolidative correction.
We have USD high impact news at 1300, and I expect this to be the driver of a drop. It is worth noticing that spreads and volatility are likely to push price up a little - perhaps even as high as a double top - before true market direction takes hold and we see a drop.
Please use risk appropriately, advise set stop loss to break even once at TP1.
I put a lot of effort into these analyses, so please like comment and share!
Be kind, trade safe.
DrBear
Hi Team,
Here is your overview for gold this week. The set up is very similar to EURUSD .
Primarily we should see three stages:
1.) EITHER small climb to major descending channel resistance, or more likely a drop to local support followed by a climb over the beginning of the week.
2.) Consolidation within the local ascending correction, staying below the major descending resistance.
3.) Major drop on Wednesday or Thursday. Look for break of 1H Correction as marked on chart.
I will send more detailed set-ups shortly.
NEWS:
Monday 0800 GMT - Expecting a rally of EUR from the IFO business climate assessment. This fits in with stage one.
Tuesday from 1200 GMT - Multiple moderate impact USD events, primarily the HPI . This is expected to raise, which would be bullsih for USD, and would likely coincide with EURUSD bear run.
Wednesday is a HUGE news day. The afternoon ( GMT ) will show high volatility , especially during and just after the FED interest rate and monetary policy decisions.
Thursday sees the annualised GDP Q2 from the US treasury, but this tends to weigh less than the initial release. Positive news would drive Gold further down.
Summarily:
Expect Stage 1 Sun/Mon
Stage 2 Tues with consolidation weds am
Stage 3 Weds afternoon/Thursday - THIS is the big move down
Now that I have covered the main expectations and market conditions, I will post subsequent analysis for these specific trades.
I hope you like what I do - I put a lot of effort into my analysis, and it shows - last week my ideas would have garnered any readers over 300 pips of profit.