This looks like the beginning of a very well-identified read - a bullish breakout - originally identified and published on August 12th, 2021. I am fairly confident this will reach the previous all-time-high and likely move quickly to the upper $80s.
9/23 XAUUSD HAS STARTED TO BREAK BEARISH AFTER A LONG RUN UP TO 2072 AREA, THE WEEKLY & DAILY WILL BE CONSIDERED SHORT TERM BEARISH BASED BROKEN COUNTER TRENDLINES AND RETESTS THAT HAVE CONFIRMED THE DOWNSIDE MOVEMENT. ONE THE 2HR WE OUR STUDENTS TO A TRADE AFTER A BROKEN A TRIANGLE TO THE DOWNSIDE TARGETING THE 1830 AREA. IF YOU MISSED THIS ORGINIAL MOVE HERE IS...
Silver looking to fill wick of daily candle, this is also the wick of the weekly candle. Silver loves to cup and handle, very round-like saucer pattern all the time, as evidenced by the chart. The trade I am playing is simply the range fill. Not looking to take the whole thing, just a nice piece, as the market can reverse at any moment.
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Looking forwards to NFP day, but even more to Thursday where we will see some monster U.K based eco madness. Got to love the emotional build up to these days along with the volume levels!
Red marks my stop. Orange my entry. Green my limit level.
My analysis shows two curves, one historical, one projected.
Using several basic analysis techniques the chart also...
Seeing as today is Canada day (sorry), and it's about to be a big fat 3 day holiday in the US my view is that everything US is going to rise today in value in preparation for the break.
In the case of the USDJPY I am currently now open with 100 points in fx spread LONG with the red horizontal ray at 102.3 dictating my stop.
Not really sure how far I want to let...
"Dude!" That's right, time to get out your FX surfboards. Until later today when US data and the ECB president Mario speaks you can be sure that we are going to be riding the combined waves of Elliot and Fib.
Short term binary CALLS are what in my opinion will work here, but please do keep in mind EVERY single trade is a risk. And this is just MY OPINION.