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...
Gold could make a new higher high today, will wait for confirmation of a break, also might see this trade through to NY session. All about patience...
looking to get in during our London session open momentum, rejection zones at 1960.44. Looking to get in on momentum break from rejection a fee pips down. Entry looks to be safer at 1959.74, aiming for a 2 Dollar move to the downside. If rejection hold we wait for our upper channel to break resistance at 1974.69. We look to aim down entering at 1959.74 exiting at 1956.74
On GBPUSD a bearish gartley has formed. Price rallied up to the 1.24 zone. Entry for this short is 1.24234 stops above 1.2466 and targets below 1.234. Use proper money management. Cheers
Currently looking at this setup. We see that price made a break of structure in Asia and we are now just getting back into our supply zone. From here i want to see some bearish price action confirmation to aline with the sells.
TVC:GOLD Gold prices push the lower line of a two-month-old bullish channel as XAU/USD traders brace for key US Retail Sales and debt ceiling negotiations among US policymakers. However, the 200 SMA adds strength to the $2000 support, making it key for the XAU/USD bears to break before taking control. Even if Gold prices drop below 2003$, the 2,000$ round figure...