Asim99_

Asim99_

I have a setup for both scenarios which I have outlined in my description on the chart itself :) Overall Bias is short

Asim99_

We are currently sitting in a 200 pip range on daily timeframe (last 8/9 days) but it seems as though there is a triple top on 4H. Price is currently below the neckline (20 pips below) so it would be worth shorting the pair if we saw some nice rejection once again at the neckline. I have applied my trend based fibs and the trade would give us a 1:6+ ratio with a...

Asim99_

On this chart, I have marked out divergence shown on the MACD. The bullish pressure is much lower now than it was when gold was trading at $1720. This shows market manipulation by the smart money as theoretically for price to push up to make a new high of the last 7-8 years, the bullish pressure shown on the Mac should surely be higher, especially considering gold...

Asim99_

Gold has broken out of my ascending channel for the first time since the first tap of the channel bottom on the 10th June. This is extremely significant as Gold has been bullish for a long time and is due for a massive correction. Gold has been sitting in a $25 range for quite some time now hence why it seems likely that it will make a move either to the downside...

Asim99_ Updated 

Bearish counter-trend corrective flag on 1hr and 4hr Timeframes. However I can see divergence on the 1hr macd and volumes are very low atm as expected. Hopefully the pair can break out of the counter corrective bearish flag with a heavy impulse out of the level of impulsive resistance and give us a retrace as confirmation so we can enter a short position. Looking...

Asim99_

In the four hour view, I can see we are currently in a confirmed descending channel, the current rate and bearish pressure is favouring a continuation of the channel for now. I can see the EMA 50 is above the current price indicating we are in a weak market and should be looking for an opportunity to short the market. However the descending channel setup I have...

Asim99_

Gold is heavily overpriced at the moment and although it is fundamentally driven, I have spotted a major valid reversal pattern in the form of a double top. It is seen across multiple timeframes including the 1H but it is most clear in the 15 minute chart. I have marked out the neckline of the double top, and as you can see it has been rejected twice in the last...

Asim99_

My rrr is around 1:5 as my TPs are based on the 1 and 1.618 level fibs taken from trend based fib extension applied to impulsive bearish candle and potential level of retrace if the price moves out of the level of impulsive resistance and retraces to give us an entry. MACD and general price action look very good for a short. Also the current level of price action...