Today's focus: Oil Pattern – Support Hold Support – 71.80 Resistance – 78.80 Hi, traders; thanks for tuning in for today's update. Today, we are looking at Oil. After a solid three-day decline, buyers have put up a fight from 71.80, but is this enough to hold the current uptrend? A break below yesterday's bar with a trend break could suggest that the current...
Gold prices fell on Monday, pressured by rising US Treasury yields and a stronger US dollar, following a series of solid US economic data, including January nonfarm payrolls and ISM Services PMI. Comments from Federal Reserve policymakers that an interest rate cut in March was unlikely also contributed to the decline in bullion prices. From a technical...
WTI oil (USOIL) is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 72.976 which is a pullback resistance. Stop loss is at 74.650 which is a level that aligns the 38.2% Fibonacci retracement level and sits above a pullback resistance. Take profit is at 70.729 which is a swing-low support. High...
The chart is an effort to plot Bitcoin and Gold in a ratio to figure out potentially where we are. The upper band (red) is where it becomes quite risky to hold bitcoin instead of gold. Mind you this does not mean gold will give better returns but means if Bitcoin goes through a correction, Gold will likely hold stronger. The green band is where Bitcoin becomes...
– Monday Daily candle closed Bearish respecting Daily Resistance formed on Friday 2nd February around 2055s. I’ll be looking for potential Buys above 2029.700 targeting recent 1h Resistance (2038.100) and previous Weekly Support formed last month January at (2045.500). I’ll be looking for potential Sells below 2016.100 targeting recent 4h Support (2009.100)...
Waiting for a Pullback onto the OTE Area, which also includes an FVG.
The price did a new Low, hence we have to update the 50% Pullback Area. I am Bullish until that Level.
Good evening gold gang! wow we really smashed it today with a little help from the news .. gold gang members know what im talking about hah Range is messy at the moment ... DXY is rocketing up but gold is pretty much ranged out not doing a whole lot We need a break out in order to determine direction .. lets wait! Algo bounces are great if you see the...
OANDA:XAUUSD A short position can be taken on the specified levels There is no position before reaching the surface
FOREXCOM:XAUUSD has been losing ground since the opening of the session on the negative fundamental background, which has persisted since last week. The price continues trading inside the range. On the high timeframe the price is declining towards the ascending support line, most likely this area will be tested in the near future. But, as this support plays a...
GOLD - Classic bearish formation - Our team expects fall SUGGESTED TRADE: Swing Trade Sell GOLD Entry Level - 2039.7 Sl - 2050.3 Tp - 2020.2 Our Risk - 1% Start protection of your profits from lower levels ❤️ Please, support our work with like & comment! ❤️
After consolidating for some time, price eventually broke structure to the upside with momentum and thereby continuing with it's established uptrend. It further retraced back into the the structure where it mitigated our golden zone. It immediately shifted trend from bearish to bullish( on 1h tiemframe) after that, giving us an opportunity to join in on longs off...
After price has been breaking higher highs and respecting higher lows on higher timeframe, it was evident that price was in a bullish trend. Price has just recently retraced and mitigated a higher timeframe demand, and zooming down to our 4h timeframe, we see that price gave us a shift in market structure for bearish to bullish trend. Price has just now tapped a...
Hey Everyone, Fantastic start to the week!! We got the Bullish target at 2040 weighted level on market open. Ema5 failed to cross above 2040 confirming the rejection into the retracement range. Ema5 crossed and locked below the retracement range opening the swing range, which was also hit perfectly followed with the perfect swing, as highlighted on the chart...
In yesterday's post, I mentioned that the gold price increase on Monday will continue Friday's decline. Because of Powell's hawkish speech. Gold fell directly when it corrected to 2042, hit 2014, and then corrected to around 2026. Tomorrow I think gold will test the 2028-2032 range upwards and then continue to fall. So I give the following trading...
Preferred direction: SELL Comment: After a short-term successful growth, longs for gold were also fixed and now, like for the main currency pairs, we expect a fall. Here everything is a little simpler and the main idea is to update local maxima as well. The first scenario assumes an approximate reversal at the level of 2070 , and the second - at the level...
Preferred direction: SELL Comment: We also consider possible sales by pound. Here previous long-positions are completely closed. Before the NFP , we have two main scenarios, similar in nature to the movement as in the EURUSD situation before the NFP . The main idea in both cases is to update the maximum at the level of 1.28000 , and then fall towards the...
Preferred direction: SELL Comment: The long scenario worked out quite quickly, and now before the NFP , most likely you need to count on selling. The market quite sharply rushed into sales due to which it was possible to recover to local highs. For NFP , I will highlight two scenarios, the difference between the first and the second is that in the second it...