Hello All,
Today we are changing our structure, but almost everything remains the same, we have a breakdown on our rectangle, this is an indication of a fall, for those who are willing to risk without confirmation of our move then it's a good Profit Position to lock, for those who are unable to open their entries then $8120 breakdown should act as your second confirmation signaling a fall and in case you will still be worried then $1813 should act as your third confirmation, "if the move continues to $1813 and breaks it, then the fall is certain plus keeping in mind the patterns being formed and the price action.
So until now we have a first confirmed signal of a fall, i had my entries sometimes the start of this week, have been updating my SL'S and TP'S only.
At the same time remember every time frame plays a role of it's own, as usual i am on 1HR Time Frame and have been doing scalping for the last 3 days, which has been supporting my account on a different level.
Also planing on going to a LOWER TIME FRAME to just help a friend who had requested for the same, so i'm trying to secure a way i can do it for him otherwise i may change my TIME FRAME for trading maybe for next week only, then return back to my normal routine.
Today we are changing our structure, but almost everything remains the same, we have a breakdown on our rectangle, this is an indication of a fall, for those who are willing to risk without confirmation of our move then it's a good Profit Position to lock, for those who are unable to open their entries then $8120 breakdown should act as your second confirmation signaling a fall and in case you will still be worried then $1813 should act as your third confirmation, "if the move continues to $1813 and breaks it, then the fall is certain plus keeping in mind the patterns being formed and the price action.
So until now we have a first confirmed signal of a fall, i had my entries sometimes the start of this week, have been updating my SL'S and TP'S only.
At the same time remember every time frame plays a role of it's own, as usual i am on 1HR Time Frame and have been doing scalping for the last 3 days, which has been supporting my account on a different level.
Also planing on going to a LOWER TIME FRAME to just help a friend who had requested for the same, so i'm trying to secure a way i can do it for him otherwise i may change my TIME FRAME for trading maybe for next week only, then return back to my normal routine.
Trade active:
Looks like we might see our long fall soon, we have a bounce towards the middle band, awaiting confirmation, my previous trades are now active still holding on! Targeting my support zone at $1820 and that further extension to $!813 let's go.
Trade active:
$1820 not achieved but we did reach $1823 , still expecting our long fall! awaiting our breakouts
Trade active:
$1820 hit and bounce, still looking at $1813 , the fall is coming slowly but it'll be here soon.
Everyone buckle up, check on your gear we about to have fun.
Everyone buckle up, check on your gear we about to have fun.
Trade active:
Gear up we going another long fall Targeting $1800 blues coming in strong!
Trade active:
If you have a strong equity let's have the long fall together, if you don't please don't RISK! , decision is yours to make!
Trade active:
Good Morning All, there isn't much to disclose today, basically everything remains the same, yesterday i had expected to break the second confirmation zone $1813 but we didn't go through, i secured my profits on scalping but that loose momentum could be the change of everything.
We had our first confirmation of the downtrend continuation after breaking of our rectangle at $1830 which was active but didn't increase it's falling momentum then our second signal confirmation at $1820 was hit, but still there was no momentum, and at this level it bounced back towards the middle band which until now we can see that our price has been ranging there.
One thing we can identify from the current price is that it is acting below the middle band, which shows indecision but with all being said, let's just continue with scalping as we wait for major breakouts.
KINDLY NOTE: Whatever i share here is for educational purposes only, decisions are yours to make based on your own understanding and also please do comment in the description below, let's share ideas, let's have a chat, let's collect them profits together!
Until then do wish you a wonderful day ahead and a joyful weekend!
We had our first confirmation of the downtrend continuation after breaking of our rectangle at $1830 which was active but didn't increase it's falling momentum then our second signal confirmation at $1820 was hit, but still there was no momentum, and at this level it bounced back towards the middle band which until now we can see that our price has been ranging there.
One thing we can identify from the current price is that it is acting below the middle band, which shows indecision but with all being said, let's just continue with scalping as we wait for major breakouts.
KINDLY NOTE: Whatever i share here is for educational purposes only, decisions are yours to make based on your own understanding and also please do comment in the description below, let's share ideas, let's have a chat, let's collect them profits together!
Until then do wish you a wonderful day ahead and a joyful weekend!
Trade active:
Price rise as the dollar weakens today, though investor worries that recent economic data could lead the U.S. Federal Reserve to keep raising interest rates capped gains.
GOLD was up 0.2% at $1,826.45 per ounce, as of 0325 GMT. U.S. gold futures
GOLD gained 0.4% to $1,834.80.
Bullion is likely to decline for a fourth straight week and is down about 0.8% for the period.
"Expectations for the Fed's rate path have seen a hawkish recalibration, with gold prices' upside being heavily challenged by the renewed rise in Treasury yields,"
Data on Thursday showed U.S. GDP increased at a revised 2.7% annualized rate last quarter, while new claims for unemployment benefits unexpectedly fell last week.
Separately, data showed fourth-quarter personal consumption expenditures (PCE) price index rose 3.7%, revised up from a previous estimate of 3.2%.
Thursday's reports are the latest in a flurry of data that has fuelled concerns that interest rates would stay higher for longer.
Traders of Fed funds futures expect benchmark rates to peak at 5.347% in July and remain above 5% through the year. (FEDWATCH)
The Fed's preferred inflation measure, the PCE data for January, is due at 1330 GMT and will be closely watched.
"Market expectations have previously adjusted to the upside surprises in inflation readings, so it may take a significant outperformance (in core PCE numbers) to sway market expectations further," IG's Yeap said.
"A lower-than-expected read could see some paring back of hawkish bets, which could prompt renewed upside in gold."
What should we expect NEXT ???
Unpredictable, we expecting a fall but there is a rise instead, and everything else signals to a downtrend, what should we do as Traders? okay the Game is so simple have a "MARKET WATCH" closely BE scalpers at least for this period, as we wait for breaking NEWS!
Meanwhile let's trade reasonably on low lot size, with absolute caution! anything might happen the good thing is "it may go our way" the bad news will be "What if it goes against us??"
I say we go on low time frame, analyze and execute, scalping is our way out.
Up until then let's have them closing blues!
GOLD was up 0.2% at $1,826.45 per ounce, as of 0325 GMT. U.S. gold futures
GOLD gained 0.4% to $1,834.80.
Bullion is likely to decline for a fourth straight week and is down about 0.8% for the period.
"Expectations for the Fed's rate path have seen a hawkish recalibration, with gold prices' upside being heavily challenged by the renewed rise in Treasury yields,"
Data on Thursday showed U.S. GDP increased at a revised 2.7% annualized rate last quarter, while new claims for unemployment benefits unexpectedly fell last week.
Separately, data showed fourth-quarter personal consumption expenditures (PCE) price index rose 3.7%, revised up from a previous estimate of 3.2%.
Thursday's reports are the latest in a flurry of data that has fuelled concerns that interest rates would stay higher for longer.
Traders of Fed funds futures expect benchmark rates to peak at 5.347% in July and remain above 5% through the year. (FEDWATCH)
The Fed's preferred inflation measure, the PCE data for January, is due at 1330 GMT and will be closely watched.
"Market expectations have previously adjusted to the upside surprises in inflation readings, so it may take a significant outperformance (in core PCE numbers) to sway market expectations further," IG's Yeap said.
"A lower-than-expected read could see some paring back of hawkish bets, which could prompt renewed upside in gold."
What should we expect NEXT ???
Unpredictable, we expecting a fall but there is a rise instead, and everything else signals to a downtrend, what should we do as Traders? okay the Game is so simple have a "MARKET WATCH" closely BE scalpers at least for this period, as we wait for breaking NEWS!
Meanwhile let's trade reasonably on low lot size, with absolute caution! anything might happen the good thing is "it may go our way" the bad news will be "What if it goes against us??"
I say we go on low time frame, analyze and execute, scalping is our way out.
Up until then let's have them closing blues!
Trade active:
Are we seeing a downtrend formation? if we are then that's our fall continuation though still not confirmed, let's be scalping.
Trade active:
$1820 target broken, what else do i wait for i had my long entry at 1839-43 earlier this week now i'm running good profits, i also had 4 more entries at 1826.50 which is currently running good profits, closing weekend coming in good.
Targeting my $1800 as my first TP, Will we be seeing 1795 and lower in the course of next week, possibilities are very high, we are balanced, one tip for those with low equity if we see a retest back at 1827-30 then you give it a sell on low lot size and also kindly trade at your own pace don't follow no one, just get the ideas and conclude on your own.
Until then let's collect them Blues!
Targeting my $1800 as my first TP, Will we be seeing 1795 and lower in the course of next week, possibilities are very high, we are balanced, one tip for those with low equity if we see a retest back at 1827-30 then you give it a sell on low lot size and also kindly trade at your own pace don't follow no one, just get the ideas and conclude on your own.
Until then let's collect them Blues!
Trade active:
$1813 hit let's wait for our breakout and then you can enter meanwhile we doing good expecting some sort of consolidation or bounce back then our fall continues but the fall could as well continue!! whatever candle forms next will be our indication for either a fall continuation, a consolidation and a bounce back which is automatic most of the time.
Trade closed: stop reached:
We can see the inversed H & S formation, we going down tonight at the start of the ASIAN SESSION, of course we should expect a retest to $1820 or lower at $1816,but then our fall will continue.
As you enjoying, i'm on the chart analyzing the week's Market, see you tomorrow!
As you enjoying, i'm on the chart analyzing the week's Market, see you tomorrow!