Hello All, hope you were profitable yesterday and welcome back.
YESTRDAYS RECAP!
We had traps set for both the UPWARD and DOWNWARD movements, the Traps were broken starting with the lower one but then RESISTANCE got worse and we didn't see our TAKE PROFITS ZONES HIT, then there was a decline after the resistance and the MARKET pushed up a bit and broke our traps for the upward movement but yet again resistance got stronger and our TP'S were not achieved, GENERALLY SPEAKING Gold has been acting completely different, it even made me dig deeper and here i came to realize that at the start of this week mainly on TUESDAY i was expecting a lot of STRONG RESISTANCE for at least 4 days and guys it has come to pass, the RESISTANCE has been there on the CONSOLIDATION ZONES, and it might last for even LONGER than i had anticipated for, today is the fourth day and we've had no MAJOR PROFITS COLLECTION, if on Monday the MARKET STRUCTURE is not broken completely then trust me the same will continue for at least 2-3 days of next week as well. Gold is been acting weirdly since the CPI REPORT RELEASE and ever since, the MARKET STRUCTURES have been forming their own ways of declining our entries, with all being said remember my entries are on 1 HOUR TIME FRAMES, and there are a lot of opportunities on LOWER TIME FRAMES.
TODAY'S ANALYSIS.
As of now GENERALLY the BUYERS are in control and as i had indicated since WEDNESDAY i was expecting a fall $1856-60 first, once we see the fall this is an indication that BUYERS are actually recollecting themselves and getting ready for $1960 -$2000, so for today's analysis i'll be very brief we have our TARGETTED ZONE for a fall when $1907 is broken, this stands as the only MAJOR RESISTANCE LEVEL up to now, so once we have broken the level we either wait for a RETEST and then have our ENTRIES or we try read the previous pattern formation, after the break of a RESISTANCE LEVEL, this way will be easier for us to have an OVERVIEW of what we should expect the MARKET to do after breaking our RESISTANCE LEVELS and the best way to do it is generally putting a TRENDLINE then go to PREDICTION and MEASUREMENT TOOL and then CHOOSE the 6th OPTION which reads BARS PATTERNS, then you have to identify the previous level which was broken take the measurement of the LEVEL and then try implement it to the current broken zone, it may be hard for some of you, but this is the last piece of the puzzle, once you do this then we should be having a very clear picture of what we should expect to happen.
On the UPWARD MOVEMENT i strictly recommend us to see level $1937 BROKEN in order to see that PUSH UP , and yes the same TRICK for the DOWNSIDE MOVE can be applied incase we see our RESISTANCE level broken.
My conclusion, since we are in an UPTREND we should expect our break of the trap zone up but it should not drive further up mainly we looking at $1947 -60 nothing beyond that, meanwhile i had my buy entry yesterday and currently running losses in considerate amounts but hoping that i will be in before the end of today. Conclusions everyone in trading view has gone dormant, some have decided to extend even further and trade on a much bigger TIME FRAME, which makes it easy for them, but guess what guys, this is how a trader should be when A doesn't work go for B, Meanwhile there is some sort of a TRIPLE TOP formation, let's see what happens if it completes then i will have buy entry closed.
Up until then Do wish you a lovely and profitable day!
YESTRDAYS RECAP!
We had traps set for both the UPWARD and DOWNWARD movements, the Traps were broken starting with the lower one but then RESISTANCE got worse and we didn't see our TAKE PROFITS ZONES HIT, then there was a decline after the resistance and the MARKET pushed up a bit and broke our traps for the upward movement but yet again resistance got stronger and our TP'S were not achieved, GENERALLY SPEAKING Gold has been acting completely different, it even made me dig deeper and here i came to realize that at the start of this week mainly on TUESDAY i was expecting a lot of STRONG RESISTANCE for at least 4 days and guys it has come to pass, the RESISTANCE has been there on the CONSOLIDATION ZONES, and it might last for even LONGER than i had anticipated for, today is the fourth day and we've had no MAJOR PROFITS COLLECTION, if on Monday the MARKET STRUCTURE is not broken completely then trust me the same will continue for at least 2-3 days of next week as well. Gold is been acting weirdly since the CPI REPORT RELEASE and ever since, the MARKET STRUCTURES have been forming their own ways of declining our entries, with all being said remember my entries are on 1 HOUR TIME FRAMES, and there are a lot of opportunities on LOWER TIME FRAMES.
TODAY'S ANALYSIS.
As of now GENERALLY the BUYERS are in control and as i had indicated since WEDNESDAY i was expecting a fall $1856-60 first, once we see the fall this is an indication that BUYERS are actually recollecting themselves and getting ready for $1960 -$2000, so for today's analysis i'll be very brief we have our TARGETTED ZONE for a fall when $1907 is broken, this stands as the only MAJOR RESISTANCE LEVEL up to now, so once we have broken the level we either wait for a RETEST and then have our ENTRIES or we try read the previous pattern formation, after the break of a RESISTANCE LEVEL, this way will be easier for us to have an OVERVIEW of what we should expect the MARKET to do after breaking our RESISTANCE LEVELS and the best way to do it is generally putting a TRENDLINE then go to PREDICTION and MEASUREMENT TOOL and then CHOOSE the 6th OPTION which reads BARS PATTERNS, then you have to identify the previous level which was broken take the measurement of the LEVEL and then try implement it to the current broken zone, it may be hard for some of you, but this is the last piece of the puzzle, once you do this then we should be having a very clear picture of what we should expect to happen.
On the UPWARD MOVEMENT i strictly recommend us to see level $1937 BROKEN in order to see that PUSH UP , and yes the same TRICK for the DOWNSIDE MOVE can be applied incase we see our RESISTANCE level broken.
My conclusion, since we are in an UPTREND we should expect our break of the trap zone up but it should not drive further up mainly we looking at $1947 -60 nothing beyond that, meanwhile i had my buy entry yesterday and currently running losses in considerate amounts but hoping that i will be in before the end of today. Conclusions everyone in trading view has gone dormant, some have decided to extend even further and trade on a much bigger TIME FRAME, which makes it easy for them, but guess what guys, this is how a trader should be when A doesn't work go for B, Meanwhile there is some sort of a TRIPLE TOP formation, let's see what happens if it completes then i will have buy entry closed.
Up until then Do wish you a lovely and profitable day!
Trade active:
I am in already running profits let's see what today's MARKET has in store for US, NOTE: these are yesterday's entries, which are just two, they were running losses over night and now they are in PROFITS , It was a RISKY ENTRY but i'm willing to loose on these entries only by my STOP LOSS being Hit.
Comment:
I'm still holding i expect the current price to end at $1934 then have a fall to $1906, if it goes per my assumption then we might see a further upward move, yet to confirm. Otherwise if it breaks $1934 and $1937 then we should see a minor move up, Kindly NOTE : i'm trying to see GOLD on it's price action formation. MEANWHILE patterns are the secondary key to profit generation and our insurance cover.
Comment:
Guys there has been some development the BULLS seem stronger but we might have a terminational fall, we are going into SELLING yet to confirm, the configurations are perfectly fit awaiting alarm triggers to completely confirm the fall, meanwhile as indicated earlier BULLS are still in control.
Comment:
$1934 was not broken and now we have a fall, now we should see $1906, a good selling order but i have reasons not take the entry, still in the process of analyzing the structure of price action formation.
Meanwhile there is a good BULLISH SYMMETRICAL TRIANGKE FORMATION on the MAKE, let's look at the chart with keen.
Meanwhile there is a good BULLISH SYMMETRICAL TRIANGKE FORMATION on the MAKE, let's look at the chart with keen.
Comment:
As indicated an hour or less ago , $1934 fall to $1906 would have been a good sell although i had no courage to take the sell order, reason being still evaluating the MARKET structure and as you can now see the fall to $1906 was declined therefore making our BULLISH SYMMETRICAL TRIANGLE FORMATION a good fit, will the patterns change ? let's find out.
Our price is still trying to break level $1934 when it breaks the level then the next level of $1937 we should see $1945 first and then possibly $1956
Our price is still trying to break level $1934 when it breaks the level then the next level of $1937 we should see $1945 first and then possibly $1956
Comment:
Finally we have $1934 broken, let's wait for $1937 to be broken now and then we confirm our entries.
Trade active:
$1937 broken wait for a retest first then confirm your entry by ensuring the retest does not break $1930,just incase it breaks look at the candle pressure.
Comment:
we are on guys, but there is some resistance we should expect at $1947 after the resistance if we break $1947 then $1960 is very possible.
Comment:
The resistance seems unbearable for small accounts kindly close your buy entries now, we might be going choppy but $1960 is possible today.
Trade closed: target reached:
$1960 HIT ,this concludes today's market otherwise for those willing to hold you can hold a bit further, hope you enjoyed today analysis and updates.
I'll be posting an idea about gold in the evening hours.
I'll be posting an idea about gold in the evening hours.
Comment:
Bull trap be on the look out!
Comment:
I seriously didn't see $1970 coming but now $1998 is a potential target generally speaking without further analysis.