Its been a while i posted the chart on gold. Since FOMC around the corner , i am expecting the opportunities on both sides. Following are the intra day trades i will be interested in for today. The levels are on chart.
Buy : 1208 (above 1210 preferred) for targets 1215/1224 .
Sell: 1202 (preferred below 1198) for target 1190
Note:This is not a trade advice...
Once again 1244 was rejected on friday during end of Us session . Asian session is following that drop so far on this week's open. . Since its a short trading day for Gold today due to holiday in US with respect to president day . I am expecting the price to drop to the magnet area between 1231 to 1226 . I am already short on this from 1237.
As you have noticed in last 3 Educational Ideas how gold 0.25% move between the Clone levels. The current reference range was identified on daily chart. Price has been in this range for a while with 1231 as magnet area for now. Lets take the advantage of this range and take some trades to trade between Clone levels of Ref Range.
a. identified range on daily...
Its been a while a posted the gold chart. Gold did amazing bull run for couple of weeks now. 123x is an important longer term Clone level. Watching this level very closely . If the price gets back below 1230 then i will be interested to short this below for targets 1225 and 1220
As you have noticed in last 2 Educational Ideas how gold move between the Clone levels. The current reference range was identified on daily chart. It looks like we are going to trade in this range before it picks the direction.
a. identied range on daily (1195.xx-1219.xx)
b. Wait for range breakout Up/Down (till it breaks out of range ,scalp between levels of...
i am going to take this risk to trade this intraday counter trend short based on Clone level 1204 rejection with stop loss around 1211 for targets 1188.
If it works out green pips ,if not then stop loss will be hit.
Note: this is not a trade advise ,please do your due diligence before placing the trade.
As you have noticed in first Educational Idea how gold broke the range and gave two Clone boxes of the reference range as profit. In this example we now got the reference range. now we have to wait for the breakout and gives us the direction.
a. identify the range. We named it as Reference Range ( 1170-1186)
b. Wait for range breakout Up/Down (till it breaks out...
I was expecting price to touch at least 1188 but it managed to reverse from 1184, thats giving me indication that we will be retesting the broken 1166 Clone level of previous range 1145-1166. Also at the same 1166 level i am also seeing the end of CD leg of two potential bullish harmonic patterns i.e bat in grey and butterfly in green.
a. So i have the Clone...
Gold usually does its moves in range before the breakout.
a. identify the range after breakout ( Pink Previous range which was between 1123-1145)
b. Clone the identified range which will be your current range ,in this case its 1145-1166
c. Look at left and see whether its matching any previous ranges (as marked on chart )
( in this case the current...
It looks like buyers are still not interested at current price levels. we did see some buying that broke the 112x-1145 range , but the buying momentum is slowly diminishing. i would like to take this opportunity to short this below 1155 for targets 1150-1145 for now.
For Upside : 1162-1167
For Downside: 1155-1150-1145
Note: this is not a trade...
Price got nicely rejected at 1.056 area which has been a good support in the past now it could act as resistance. I am shorting this at market price with stoploss 1.058 for target 1.0450.
Clone levels on chart as horizontal lines.
Note:This is not a trade advise ,please do your due diligence before placing the trade.
It looks like oil is ready for some down move . i am already short on this from 54 ,planning to add more at the break of 53.7 area for target 53 and 52.6
Levels are on chart
Note: This is not a trade advice. please do your due diligence before placing the trade.
Gold is still in 1145-112x range . Yesterday it did try to breakout of this range but managed the wick outside of the range on upper side. i am interested to short this around 1145 to 1147 (stoploss 1152) area or 1138 (stoploss 1146) which ever comes first for target 1130 and below .
Watch for weakness in bull move in the areas mentioned above.
Clone levels for...
i am fed up of calling shorts on gold. The price action is still showing as bearish. Gold is in range between 1145-1120 . So for me any rally is an short opportunity till 1145 is taken out. Today's interested levels for Shorts are 1138/1134(aggressive short)/1128 for targets 1122 for now.
Clones Levels are on chart.
Note: This is not a trade advise ,please do...
It looks like shorts are not done yet on gold. Currently Its ranging between 1135 to 1128 . so based on current price action ,i am planning to short this from 1135-1139 area or 1126 which ever comes first
Aggressive entry: short at current market price.
For Upside: 1134-1139-1145
For Downside: 1134-1128-1123
Note : This is not a trade advice...
This pair is currently in bearish trend and still the momentum is towards downside. Interested area to short this below 0.7240 (with stoploss 0.728) and 0.7226 for targets around 0.7180.
For Upside: 0.727 - 0.7294 - 0.7316 - 0.7339
For downside: 0.7270 - 0.7249 - 0.7226 -0.7180
Note: this is not a trade advise, please do your due diligence before...