Looking at sells here, Price has rejected the 1970 level perfectly, taking a sell here and moving stops to breakeven once we see 1964 tapped will be the best way to play this trade out. Targets remain 1950 and lower.
Last day of the month and Gold is absolutely going for it, no news today so it's quite surprising we get this much volume on a monday but that's the markets for you What are we looking for? a close above the resistance levels will see us continue up going into the start of August, I still anticipate August to be a bearish month, whether this continues or not is...
Based on price action and the 1h timeframe rejecting the 1960-1962 level as mentioned in the daily breakdown, I am anticipating sells. we have the 4h candle close coming up in 40 minutes so based on how that moves we can expect to react based on that. No news today so we don't need to worry about news impacting price unless it's something not on the financial...
Gold 4h is looking bullish. Strong support levels, price action rejecting the AOI. Buys above 1966 would be the safest way to play this type of price action if you're a swing trader, mainly because in the past when we have seen gold close above this price we continue up. Updates to follow after New York session
Looking at the daily timeframe after Fridays bullish closure hints at price wanting to continue up after creating a new support in the AOI marked in red The only issue is that the daily candle has no bottom wick so I would anticipate a liquidity grab of this area before we can see price continue. This morning saw a liquidity grab on the 1950 level which was to...
Moving down from the Daily time frame we can see 2 major levels of support with a minor level of support at 1924. I don't believe price will have much of an issue getting through this price, however time will tell. My overall gameplan will be looking for sells if we can close below 1939 with Price Action telling us in the past that 1900 would be the next logical...
Post FOMC and unemployment claims has finally given us the high volatility we've been waiting for. We saw price test 1980 before falling 40$ and closing below 1954 which was a strong level of resistance. As far as the daily timeframe is concerned, we are in an area of indecision which means we could reject any support or resistance here at any level and just...
Looking for a quick scalp on the 1 hour time frame, goal is 10-20 pips as usual and letting the rest run after taking partial profits
Now that FOMC and Unemployment claims for the USD is done, we can see price action a lot more clearly. Things to note Daily broke yesterdays high and flipped bearish Weekly created a weekly high and flipped bearish (did not break the previous weeks high however that isn't a major issue) 4h has closed back into our indecision range Few things can happen...
Looking at the 4h timeframe we can see this same level charted on the daily continues to be respected. again this is significant because it is a point of reversal for the higher timeframes which will allow us to pay attention to when doing lower time frame anaylsis. In a case like this, should the current 4h candle fail to close above this, I will be looking to...
Looking at the daily timeframe we have had our push up for the day and are at a very critical level where we have seen price reject on the daily timeframe 26 (yes twenty six) times in the past. This is significant because it means there is a high probability of price rejecting this level and moving down, however, should we see price close above this level it...
Looking at the weekly timeframe we can see 4 very key levels. The ones closest to us - 1966 and 1977 Why is 1966 so important? The simple answer is this is a key level the weekly candle failed to close above last week and what about 1990? a close above 1990 will almost certainly give us a shot at pushing 2010+ again and possibly looking at the all time highs....
With FOMC out of the way it's back to business (trading!) as usual. We will be looking for price to create support before being able to continue up as we go into the end of the week AND the end of the month. A close above 1980 on the monthly timeframe will be incredibly bullish as far as indications of bullish momentum goes, but that will be discussed further in...
Well, our analysis 24 hours ago was spot on with price action replicating what we had said regarding a dip down before a test on the 1970 level, with a high probability of price continuing to 1980 if we can close above the 1970 level. This was an important level because its prior support and resistance being retested after a leg down, a bottom wick had been...
The 4 hour timeframe has seen two attempts and rejections of the 1954-1953 level today, one before news and one during news. This is very significant because it means despite there being volume and volatility in the markets, it was not enough to push past the buying pressure meaning any selling here was immediately being taken by bulls to push price back up. With...
Very interesting day when it comes to price action. We saw price close below the resistance yesterday and into the area of indecision, however today we not only broke yesterdays low but closed back above the range and above yesterdays open. Why is this significant? Simple answer: It isn't. Yet. I say this because we have FOMC rate announcement tomorrow. Of...
Looking at the timeframe on a daily basis we can see that we have closed below a key level and into an indecisive range. The reason why indecisive ranges are tricky is down to the fact support/resistance can be anywhere due to the historical price action, there is no clear support/resistance where we can anticipate buys or sells, so treading carefully is the...
With London now closed and New York slowing down after PMI news it's always good to get a broader view of how the day will end, and what the key levels are to keep an eye on going forward. The 1938 level remains the most critical level as it could act as a support level for price to retest before continuing up towards 2000. However, should this support fail to...