Gold Short - Catch the fade (170-260 pip target)
Hi guys,
Here's gold, I believe we'll be going lower today. The behavious of price within this area seems of indecision to me, which indicates a Trading Range. It also looks like a trading range as price has been ranging within this area for a while now.
Price went up to create a higher high in an attempt to break out of the trading range however it appears that price has failed to break-out and went back into the range. The jigsaw puzzle fits well in the daily chart at this moment. We still need more price action on the daily for further confirmation, and more price action today on the 4 hour.
Here's gold, I believe we'll be going lower today. The behavious of price within this area seems of indecision to me, which indicates a Trading Range. It also looks like a trading range as price has been ranging within this area for a while now.
Price went up to create a higher high in an attempt to break out of the trading range however it appears that price has failed to break-out and went back into the range. The jigsaw puzzle fits well in the daily chart at this moment. We still need more price action on the daily for further confirmation, and more price action today on the 4 hour.
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Keep an eye out for this blue uptrend line too as price may bounce up from it. We want price to break below this. (Thumbs up)
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If price continues up, would like to see a rejection off the extremities of this blue shaded area, and the black horizontal bar.
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There's some resistance up here. But let's see how price reacts at the blue uptrend line.
I feel the bulls here too though so keep that in mind.
I feel the bulls here too though so keep that in mind.
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Testing.. Let's check out the reaction of the market.
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Price bouncing up.
Long for now.
Looking to see if resistance up above will have a say again for the final time. If price breaks above, we will look again for the next big resistance point.
Long for now.
Looking to see if resistance up above will have a say again for the final time. If price breaks above, we will look again for the next big resistance point.
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Expecting around 30 pip scalp above if price breaks. above.
Price could continuing going up as this could also be a FADE OF THE BIGGER TRADING RANGE.
Let's see what price does here first:
Price could continuing going up as this could also be a FADE OF THE BIGGER TRADING RANGE.
Let's see what price does here first:
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Will we see this?
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Now we want this to form on the 15 minute timeframe and onwards.
Now we want this to form on the 15 minute timeframe and onwards.
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Hello
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Should follow through with more bearish candles.
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Bulls buying into this uptrend. We may be going up to test the top again. Let's see..
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Approx 50 pips secured. Buying into this for now and looking for indications of a reversal back down again for further shorts.
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Paying attention to see if this turned into a failed breakout to the upside.
Trade active:
Long occuring.
Looking to take partial profits in the yellow zone box. It's also a reversal zone area, so will be looking to see how price reacts here.
Looking to take partial profits in the yellow zone box. It's also a reversal zone area, so will be looking to see how price reacts here.
Trade active:
Comment:
Looks like short continuation at the moment.
Would like to see some downward movement from here.