Hello traders! This is an area where I have been expecting gold to fall for a long time. Since the price has reached the POI, I will wait for additional confirmation to go long to $2500. This is the idea of swing/position trading (very long term). It can also be considered as an investment idea. However, the risks must be calculated and you must have a proper...
Re-analysed our entire wave count as Gold decided to go ahead & create a complex Wave 5 completion. Instead of finishing Wave X at the 2023 high of $2,141 we saw a steeper move, creating a new all time high at $2,165 taking out a lot of sellers. ⭕️Wait For A BOS (Selling Confirmation) At $2,123. ⭕️Overbought & Choppy Market Conditions. ⭕️DXY Strength Incoming Soon.
Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Some time ago price entered to falling channel, where it declined to support level, which coincided with support area. After this, XAU tried to rise, but when it reached resistance line, it bounced and declined lower than $2015 level, breaking it. Also, Gold...
The recent price action on the GOLD pair was keeping me on the fence, however, my bias is slowly but surely changing into the bearish one and I think we will see the price go down. ❤️ Please, support our work with like & comment! ❤️
DXY has pulled back a lot as US bonds have ripped to the upside, however it would appear that the Yields may be setting up for a short term bottom which would result in the DXY coming back up. This would align with the Euro coming back down, but I'm not convinced the move up in DXY will be long-lasting, however I do think it will be notable enough to initiate some...
Today's EUR interest rate decision, where the European Central Bank is expected to maintain the current rate, could lead to a stronger euro and a weaker dollar. This might decrease the demand for gold, causing XAUUSD to potentially drop to 2115. Keep an eye on the announcement for trading decisions.
Hello,Friends! USOIL is trending down which is clear from the red colour of the previous weekly candle. However, the price has locally surged into the overbought territory. Which can be told from its proximity to the BB upper band. Which presents a great trend following opportunity for a short trade from the resistance line above towards the demand level of...
Upon reviewing the gold chart on the daily timeframe, we observe that as expected, gold continued its rise up to $2140 yesterday and then underwent a price correction, dropping to the $2122 range! Now, the price is once again gathering the necessary strength for a further ascent and is currently trading around $2132. Note that the upcoming supply zone for the...
Crude oil is one of the most in-demand commodities, with the two most popularly traded grades of oil being Brent Crude and West Texas Intermediate (WTI). Crude oil prices reflect the market’s volatile and liquid nature, as well as oil being a benchmark for global economic activity. The oil price charts offer live data and comprehensive price action on WTI Crude...
Gold (XAUUSD) broke the previous All Time High (ATH) yesterday as expectations over a June rate cut intensified. In order to determine our short-term strategies on Gold we often tend to look at the long-term time-frames for trend recognition. This time we look at the 1W chart and in particular how Gold's previous Cycle compares to today. We could look at those...
#XAU #XAUUSD #GOLD #Short #ShortSetup #Eddy I'll Think Its Time to short Gold ;-) In the monthly time frame, it looks like we have the third collision and the completion of the monthly divergence. What you think!? Related Analysis of Gold : (( XAU/USD )) : Check Link :
Just realized I did not include my set up from yesterday Here is a recap, Caught TP1 for 40 pips, Second position got closed at 40 pips as well being that gold whipsawed back to entry and SL. Could have got back in and ate another 200 pips but the trading plan said no.
Daily/4h time frames analysis for Gold. Potential scenarios ahead of Powell Testimony. Key levels, price action analysis. Trading recommendations. ❤️Please, support my work with like, thank you!❤️
We lost 50 pips after 7 days profit in row and try to save this weeks profit dont worry we still in profit 🙏
Take a look at our analysis for GOLD. Time Frame: 1h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a significant support area 2125.722. The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 2140.229 level. P.S We determine oversold/overbought...
GOLD is looking stronger in lower time frame but bears are more stronger in higher time frame
Soybeans (ZS1!) has been trading within a Channel Down pattern since early 2023 just last week, it almost hit its bottom (Lower Lows trend-line). So far the price has reacted with a minor rebound, while the 1D RSI has been on a major Bullish Divergence (Higher Lows against the price's Lower Lows). This is the best buy signal since the May 31 2023 bottom where...