We saw a big rise on XAUUSD in the last few days but price is still in the descending channel and has approached to the channel’s upper band which acts like a dynamic resistance level (The previous analysis of XAUUSD is attached below).
Moreover, there is a resistance level from February 2021 and price got rejected by that and also the yesterday’s candle has been...
Let's take another detailed look into some parallel channels structures/patterns in price action analysis.
Recall my previous educational video on Ascending/descending channel correction, they are higher probability reversal price action structures/patterns.
Today I want to go over the horizontal parallel channel structures/patterns as well...
Let me remind you that at the beginning of this week, we expected a price reversal from the resistance line and the beginning of a correction before the start of a new growth. My previous forecast is still valid.
I expect the price to fall first and then return to the...
ASia dropping, futures going with. We'll see if teh EUros increase the gap or if they pump futures instead.
I think both RSI and MFI need to go oversold before a bounce. If we get a huge gap I'm flipping all my puts and calling it a week.
Yesterday the price bounced off the resistance at 1845.07.
I am adjusting my past forecast.
The price has been moving in a growing channel since March 2021.
During the growth, it broke through the main falling channel at point 1788.86.
Then it came to the resistance at 18.45.07 and turned around.
I expect the price to move in two stages:
1 - drop from resistance...
hello traders here is sell set up for XAU USD!
price couldn't break the resistance level and it bounced back $1817 support level
wait for clear break down candle before you short GOLD if that scenario met look for selling opportunities
Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
No longer oversold, I expect it to backtest the orange line tonight.
It could tank again premarket based on CPI numbers, though chart patterns suggest a gap up and doji. I think Thu will be a down day, will buy puts tomorrow if things play out like I think they will. NQ MFI would have to go overbought for that scenario to look right.
No long positions...
Moving in the upward channel, the price came to the resistance line - formed in the middle of this channel - 1844.33. A price reversal occurs in the area of this line, and now we can expect that the price will correct to the support line 1808.92 before continuing to rise. And then it will rise to the resistance of 1859.24.
Remember, there is no place for luck in...
As discussed on my morning's commentary:" My position: As I am not interested in Buying on Short-term, I ruled out every Buying reversal. I will Sell on spot if #1,830.80 breaks, calling for #1,805.80 extension. Since I am more than satisfied with my Yearly Profits, my margin will allow me wider Stop-loss."
I have closed my Selling order with decent Profits...
The NASDAQ continues to stay below the weekly resistance key level and is falling, so the high is the new monthly resistance key level. This means that it is a bearish market until a new monthly support key level is created. The first goal is to break the last weekly support key level.
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Analysis on #EURUSD
The price of gold is moved by many factors, like supply and demands also inflation.
Inflation fears were on the rise lately and that is terrorizing financial markets, we have...