Classic Sell for Gold
Now what we see here is COMPRESSION INTO DEMAND. So we see buyers keep buying until price reaches too high for buyers to buy and sellers come into the market.
On the 28th of Feb, we saw Gold begin its decline and that is where price is heading to now before it meets its demise and fall once again.
Risk to Reward ~6
In my humble opinion,...
coming to major level here very strong, cad is completely dead this morning lol
probably a break and will be watching for the retest, beware cuz its friday and quadruple witching day (google) so it may be a fakeout and give large large wick
i will be waiting for last kiss or that big fat fakeout
read higher tf PA :))
the green boxes are the "Buy zones".
We can see the Fibonacci retracement overlapping inside the reload zone , it's a good sign that the market will go higher.
Technical analysis is just based on probabilities.
People who do TA analysis are just statisticians , it's only the most likely outcome and not an absolute.
Nothing is absolute on TA...
Price has been pushing higher this past week.
Similar to the GBPAUD chart there is an obvious Daily zone, this is too wide a risk for my liking.
Down on the 1hr chart I have found a demand zone that is just above the Daily price, which when looked on the 1hr chart is very sideways.
Will wait and see what price does
Having a look through the timeframes the only areas that are standing out are currently on the Daily TF
Price has been pushing higher, given the previous price action, as marked out in the rectangle box there is a fresh zone at the 152.00 level
will wait for further confirmation on current direction