Gold is facing strong resistance and is likely to drop. Consider shorting gold at the current resistance level with a target price set at the nearest support level. Monitor price action and market sentiment closely for potential profit opportunities. Use proper risk management techniques and stay informed about economic data and geopolitical events.
Entry:...
Gold is currently facing resistance at key levels, making it challenging for prices to push higher. Factors such as a strong US dollar, rising interest rates, easing geopolitical tensions, and bearish technical indicators have all contributed to the pressure. While the long-term outlook for gold remains positive, the current resistance zone suggests that the metal...
The price is forming a double bottom with higher lows just above the crucial demand zone.
Expecting the price to test the first major supply zone of 1.0847. And if successful at breaking it, then the price should keep going up to the next supply zone of 1.09, which just happens to be at the upper limit of the descending channel the pair has been trading in.
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.
Never have i ever though id trade Gold so here we are! After analyzing the previous week for Gold, Gold was still in a strong bullish market. With this information, heading into the first day of the week, would be the beginning of a good one!
Gold formed a new higher high indicating a continuation of a strong bullish market, then later retracing to form a...
the price is moving in a down trendline making a decent waves. after watching the DXY we can say that this pair will continue to the downside. right now we are in a middle of a retracement preparing the price to go down back again. we will measure the current wave with our Fibonacci tool and be ready around ( 61%, 71%, 78% ) fib levels with any good bearish price...
Gold sell idea.
Entry: 2046.30
Stop loss: 2052.50
Take profit: 2020.00
Explanation: Given the outcomes of the Wednesday's Fed and Friday's NFP, Dollar set the bullish sentiment for the month of February. I'll be looking for shorts for the whole month ahead, starting with Monday 2046.30 sell limit. Reason for entry: Retracement from Friday to create a new...
DXY H8
DXY is currently maintaining its position at the key resistance level of 104, demonstrating resilience at this significant whole number price point. Despite hitting this zone yesterday, we observe a relatively subdued level of market activity.
It appears that the markets are in a wait-and-see mode, anticipating a potential surge in trading volume driven...
DXY D1
The dollar has sold off a healthy amount from swing lows to swing highs here, but we are now sitting on a key point of pivot. We could look to trade higher in line with a break of trend as indicated, or lower with a continuation of trend.
Sitting on the sideline for the moment until we can see some sort of confirmation confirming either of the above.
DXY D1
We continue to navigate to the southside here with the dollar index. During recent trade and events over the past few weeks.
Should we breach the significant 103.000 threshold, our sights are set on the next target at 101.500.
Additionally, anticipate a continued upward trajectory for XAUUSD, with all-time highs on the horizon.
AUDUSD has successfully executed an upward breakout, skillfully navigating a retest after surmounting the significant 0.65 threshold—a resistant range that has steadfastly held its ground for a considerable duration. Anticipating a pullback, seizing a buying opportunity within that zone seems prudent.
A substantial upside potential beckons from 0.65, stretching...
EURUSD H8
We might not have highlighted this particular trade yesterday, as our attention was primarily on AUD/USD and GBP/USD. It's worth noting that EUR/USD tends to exhibit a pattern more closely aligned with GBP/USD than with AUD/USD. Despite this, we've observed a significant upward spike, and we've identified a promising setup for a new long order. Today's...
Little shy here on US30, and slight adjustments to the zone here, but we are into our sell region, lets see if we can see a bit of a dollar relief rally here.
Drawing from our analysis of this pair in the past few weeks, we have seen this pair show considerable movement in both directions: bullish and bearish, especially on the 1 hour and 4 hour timeframes.
With the spike across all USD crosses last Friday, this pair, like all other USD crosses, lost its bearishness and u-turned bullish on the 1 hour and 4 hour...
From our analysis of this pair in the previous weeks, we saw a good amount of bearishness.
With the close of last week, this pair witnessed a bullish reversal on the 1 hour and 4 hour timeframes, invalidating our bearish zones and PBs and going all the way into the north.
Today, we are beginning to see another round of bearishness. On the 1-hour, the market has...
