About meHI, I am Hamza Malik employed at H.G markets one of the top commodities and currency trading broker in P.K
I am usual to perform More technical approach rather than fundamental and most of my portfolio consist of commodities and major currency pairs.
Gold is on weekly high we can see on daily time frame range is getting tighter and tighter on 4hr iwi any break and close below the peanut will be a good signal for sell.
as well as RSI is showing divergence
Gold is a nice sell for next week but be careful with any trade which is associated with USD because next week is full of high impact news so careful with your trades.
1st arrow done is T.p
The 2nd arrow down is T.p 2
at daily we can see a nice flag we shows that maybe we don't have buyer pressure at weekly we can see a wedge I think that market may test the low of the wedge before reversing to upside or at least retest the low of the flag pattern. it may be a good idea to use put sell order below the low of flag pattern in case I price break it u may not miss the trade.
a nice shorting opportunity is building up on usoil as we can see market previously test the resistance level which is 64.65 level as well as RSI is also over bought market hopefully show some relief before showing up
i will update up guys on this pair regularly and dont forget to like :)
on daily and weekly gold look like to continue to sell bear this mind this is not the trade setup first wait for price action to confirm us market direction i better suggest to sell it on the break of structure for aggressive entry look for entry box which i mentioned on chart
if you like my idea don't forget to like it :) good luck see u guys soon.