At market close, price has closed below 50% of the 3/13/23 D B FVG, but price is in the top 50% of the 3/17/23 4H B FVG. PLUS price closed with a bearish engulfing on the 8H. Since price is in a downtrend I am looking for price to continue down another 300 pips to the 2023 yearly open. Depending on the type of trader you are I see 3 possible entries from where...
Looking for Gold to continue bearish when market opens. Price is currently wicking and refusing to go higher at market close on Friday. There is a 4H liquidity zone where price is refusing to break. I'm expecting a 4H sell fractal to print after market opens. Lets see what happens
Monthly chart shows one thing. STRONG rejection. And where there's a strong rejection, there's a chance of a price reversal. How does this coincide with what we are looking for? Well, August monthly candle did not have a top wick. If we can get a top wick created for the previous months candle then September SHOULD see a sell off going into the end of 2023....
And sure enough Price action did exactly what we were looking for price action to do. Typically I would move stops to break even and take partial profits here, however due to the fact I am taking a reduced lot size (0.01 lots as I am currently testing the trading style out) I will move stops to breakever at our BE line (1909) But I hope this was an educational...
THIS IS NOT A TRADE TO TAKE - IT IS PURELY FOR EDUCATIONAL PURPOSES FOR MYSELF Looking at previous price action and PA mimicking it, I'm looking to take a 0.01 lot sell limit here at the level marker at 1912.5 so that we can assume price will continue down after grabbing liquidity Price closed below a level, rejective off of 1904 as it has done previously so...
With the higher timeframes all being bearish, it would make most sense to be looking for sells, especially on the lower timeframes as we do not want to be fighting the trend unless we look on a smaller timeframe. Should we see price close below our key area of support at 1881.9 then I will look for a retest of this level where we can take a sell-limit and aim for...
Looking at the 4h timeframe there is a bullcase for buys at this level. 1. we are at a key level of support 2. the smaller bearish channel has seen us bounce from the lower band of the channel which aligns with the support level 3. the larger bearish channel is yet to see a test of the upper band, which should we break up through the smaller channel, retest, we...
As ever with gold, it's a staircase up and elevator down. Price has been bearish since the 8th of august with a new low being created, breaking the lows from June after the March pump and with a high amount of liquidity being grabbed there is definitely a chance for buys here. 1876 on the daily timeframe being respected would be a key area for the weekly candle...
Sells taken on the 30m after price closed below our key level of support
In yesterdays breakdown I mentioned we could see a push to 1903 and we saw that today. With price having tapped the support we last saw 2 months ago, there is a chance from here we continue down. Could we bounce? Absolutely, the question comes down to did we grab liquidity first. 1893 would be a potential level where we see liquidity being grabbed and price...
Looking at the 15m and 5m gold timeframe we can see potential scalps going both ways here. Looking to scalp gold on the 5m timeframe, sells are looking a lot more probable for me but I wouldn't shy away from buys if we can see a break of the 1917.653 level, followed by a liquidity grab towards 1915.874.
taken sells on the 15m based on price potentially rejecting this area and continuing down on the 15m timeframe.
Another day, another crazy move down by gold. We are seeing a high amount of USD strength as Gold continues to drop through various support levels, the most significant one being 1939. Anticipation here is for gold to continue down to 1909 now, with NFP on friday and the ADP news today being better than expected, price continuing down would make sense but as...
1939.385 will be a key level for Gold to close below on the daily, failing that, the level would have been retested and we can expect price to continue going up. Bearing in mind this is still an area of indecision, however with the volume we've had on the daily candle for it to come down by $30 there is a high chance bears will have control and continue with...
The price is higher in the hourly resistance range, a trend reversal or at least a correction is expected
Looking at sells on the 1h timeframe - this is within the range we spoke about, however! the reason why sells are now possible is due to the news having passed, and with this new 1h candle we have seen price create a nice steep top wick, where if we can have a 5m closure below 1959.2 price should continue down.
The breakdown of the higher timeframes continue, now onto the 4 hour timeframe. What we can see is whenever price closes below our sell level, price tends to continue down to our target level. White arrow shows our most likely price action path.
The daily (D) has played out to the downside as I thought it would do if it was to break bearish at 50% of the D fair value gap (FVG) zone that it has been playing around in. Price has not hit the previous month low (PML) yet, but it should do that this upcoming week if price decides to continue bearish. As I predict that it will. If price does not continue...