i pinned trade from friday. This idea was about pa, where support was break and after i didn't seen retest support, but just false break. So i waiting for break to the back zone and retest support. For normal trade 1:2, when the risk is 2%.
Though we expect gold to hit 1790-1800 resistance zone and then pull back to 1750-1760 level, it seems like the upswing momentum is so strong that gold will just strike through the resistance zone 1790-1800.
A few things to note on the daily chart:
- A false break of the 2018-2019 uptrend line
- Three river morning star candlestick pattern at major yearly...
I think the index failed to break down as you can see on the chart.
As long as 4 hour candles keep closing above 27500 then I believe we will see higher prices.
1. Price will rise to the middle of the channel
2. price will rise to 30,000 zone
3. price will stall between 30,000 zone and the middle of the channel, then continue up
best of luck :-)
It's not a financial advice, it's just my opinion, that gold has made a resistance level at 1828.78 it will try to break it, but if it's false break, we set a sell stop order beyond that level and hope for 1:3 ratio Take Profit. If it hits our SL, we make same order again.
D1 - bottom of the channel.
H4 - multiple false breaks + bullish divergences.
M15 - bullish impulse.
Expecting bullish moves from this zone or slightly lower. Looking for bullish setups on the pullback.
Yesterday there was a false breakout!
super beautiful example!
I will tell you below what a false breakout is!
False Breakout Patterns
False-breakouts are exactly what they sound like: a breakout that failed to continue beyond a level, resulting in a ‘false’...
Short Term Trend: Bullish.
Price Action Signals: Price sold off after a false break out above the 14135 resistance level last week. Price moved down from a Bearish Pin Bar that formed just under the 14135 major resistance level, 2 weeks ago (counter trend). You will note last week we said ‘We are not looking to trade the break out above the 14140 level as this...
A bearish shark checkback setup on GBPUSD presents a shorting opportunity for traders. Not only it gives a fantastic shorting opportunity with its amazing Reward: Risk. When news is very bullish on UK Pound and it doesn't move that much, it leaves a clue of shorting. Trade has engaged.
EURUSD didn't make a daily close below the trendline to produce a false break signal, and ojectively it has in fact signals some more. Looking at the head and shoulder topping structure while assuming the September top is in, this is a classic consolidation pattern of tight trading ranges forming a harmonious ABC move, so and I'd expect a solid turn at next key...
H4 - Price respected the 0.60 psychological round number and is bouncing higher from this zone.
False break with bullish divergence.
Based on the moving averages the slope is bullish.
H1 - Bullish divergence.
Expecting the price to continue higher further after pullbacks.
The S&P 500 is down again this week, but it’s trying to stabilize. Looking back to the left of the chart, a potentially important level could be in play.
3214.68 was the low on January 31. It was the last meaningful support level before the coronavirus panic swept the market in late February.
Scrolling back to an intraday chart from that fateful time of February...