Looking at the 1 hour time frame, we are right at a support level. Sells were taken all day today, 3 in total, 2 being in profit with 1 in breakeven. Bias remains somewhat bearish however we must pay attention to what price can do at these levels of interest where price in the past has been finding it challenging to get through. short term bias is bullish, long...
Gold is doing its thing and driving down like it's got no business staying up. As it should! We've just about cleared the area of indecision and approaching a strong support/resistance level that may seem like price may reject off of, however there is a chance we drive straight down to the 1910's level. BUT that is not without some retracement expected. I do...
GPBJPY analysis was requested by a member, I have no bias just simple analysis. Bullcase: We have rejected key levels of support that extend as far back as 2015, with these levels being respected I anticipate price to continue up towards the level of rejection marked in blue. Bearcase: 179.729 is a key level of support, if this breaks there is opportunity for...
taken sells on the 15m based on price potentially rejecting this area and continuing down on the 15m timeframe.
Looking at further sells predominantly on the 5 minute timeframe, easy scalp for 10-20 pips with stop loss greater than the current range. Previous trade we got stopped out at break even so this could be a second try at price making its way out of the range towards the next level.
With one win already today, we are looking at another potential set-up, however it will be at a much smaller risk as we do not want to lose profits. Price looks to be breaking down and should we see a close below the level we can anticipate price to continue down.
Looking for a quick scalp as gold continues to trend down during London session, sell stop set at the level indicated in the chart 1930.268 and we will ride this down ideally towards 1928, Stop loss will be the most recent high.
So with the daily candle 7 minutes away from closing it's safe to say the daily will be closing bearish. Saying that, I'm not convinced that this is the end of the bullish move up. I still anticiapte price to test the 1960+ region before we can see a move down. Price sold off from asia session down to the area of rejection at new york open, before moving back up...
Looking at the 1hour timeframe the level we marked out 4h ago in the linked idea below was pretty much perfect, from here we can expect to see price retest the top of the range and if we're lucky, we may see a breakout to the upside so that we can get entries on buys.
We are currently in a tricky range, despite price looking heavily bullish on the lower timeframes I would be cautious as price is known to reject and range within this area Look for trades outside of this range and we can see a much clearer picture on where price wants to go and take trades based on that Patience pays.
We are back into the range we were stuck in last thursday, based on this I would be cautious on taking any trades untill we get a rejection at the support or a close below the support so that price can continue down. until we see price make a decisive move, I'd be wary of taking trades in this range as it can get messy.
So Friday NFP was very interesting, massive liquidity wick to the low 1920s before price pushed above the range from Thursday and ended up closing at 1942 Price rejected the area of rejection we marked out the day before and we are currently looking for the retest of the 1950 level before a continuation down, which is in line with out analysis so all in all, so...
Thursday was one of those days, nothing but ranging which was to be expected given NFP tomorrow and the major moves being earlier this week. To keep this short and sweet - I still expect price top continue down, however, first we need to see a liquidity grab to the upside because we can continue going down. Overall swing bias is sells. Sell sell sell. 1900...
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...
Historically, whenever price has rejected the red zone price has continued down towards the 1800 level, so we continue to anticipate the weekly candle price action to continue down. The only obstacle may be NFP this week, however outside of that expectations are for gold to continue down.
1st day of the month and we are off to a cracker. We said yesterday that we can anticipate swing sells based on the monthly candle rejecting strong resistance and that is exactly what we saw. Plan remains to visit the low 1900s and even 1800s, after such a heavy move down beware of consolidation/retraces before price continues down.
Despite gold closing bullish for the month of July, Price action indicates bears are still in control and there are opportunities for swing-sells The reason for this is due to the fact that the 1970-1990 levels were rejected in the month, showing strong resistance is still intact and we can anticipate the support created at the 1900 level to be broken for a...