Gold dropped sharply on Friday.
The price has quickly reached a support line of a rising channel on a daily.
Important decision is ahead!
If the price breaks and closes below the support of the channel,
a bearish continuation will be expected.
Next support will be 1832.
Alternatively, the market may start coiling on a trend line.
You can look...
Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
Strong NFP last week really hurt the gold market. As we can see, gold has dropped drastically.
So, what will happen next?
We can find opportunities to trade if only the gold price comes back into the area of interest.
If gold breaks above the point, I will look for an opportunity to buy, and if it breaks below the point, I will be looking to sell.
I predicted Gold massive fall weeks ago but it didn't happen until last week after a strong FOMC and NFP data for DXY. I expect the fall to continue to 1800.000 which happens to be a psychological key level.
Trade recommendations: Look for a sell option after price retest to around 1877.245 the former low it broke on Friday
TP 1: 1832.591
TP 2: 1800.000
Hello Traders, here is the full analysis for this pair,
let me know in the comment section below if you have any questions,
the entry will be taken only if all rules of the strategies will be
satisfied. I suggest you keep this pair on your watch list and see if
the rules of your strategy are satisfied.
If you like this idea, do not forget to...
Almost there! GLD should slam on the brakes and wrap up the blue wave (i). After completion, we expect the course to dip into the blue target zone between $162.26 and $155.58 to fulfill the corrective low of the blue wave (ii). Once achieved, the GLD is good to go and should rise back North.
The Fed chairman has given the market a very important clue on 13 Dec 22.
At what level will he consider an interest rate cut?
He said “I wouldn't see us considering rate cuts until the committee is confident that inflation is moving down to 2% in a sustained way,” meaning only if CPI is heading nearing 2% then it is hopeful to see a rate cut.
Looks pretty decent on my private sessions last night, last tuesday I see a Order block that makes me think, that more sellers liquidity on the upside, thats why price bounce back again to 1937 on Wednesday morning, OB is on 1920. If you want to see my private analysis, come and check me out. we made 260P on long shot call.
Trade base on your own...
Since this Ideas posted, it made 240PIPS, but price bounce back again on its resistance lvl, its like a dead cat that bounce.
Im still expecting price to goes below 1900-1825$.
price decline from 1941-1917, 24$. looks pretty decent if you trade this.
If price breaks 1946, then we see for another bullrun upto 1955-1970.
Still price ranging on our...
Gold is a very volatile metal...the moment you choose to trade Gold, you are ready to win and loose money. Here is a secret.
NB. You don't trade Gold with little money. Least you can trade Gold is at least 100$ for beginners with lot size 0.01.
GOLD IS NOT A RESPECTER OF PIPS...