Bulls have taken price all the way up and they are exhausted at the moment, is this consolidation going on meant for them to gather steam to continue their bull run or is the consolidation for testing the resistance in this level?
I believe Gold has touched a confluence over here and the bears are going to take over and bring price all the way to the 1735 area...
We was supposed to post this idea yesterday when Gold was still around 1717, we did our analysis and with our fractals lined up perfectly, we were able to see the bearish pennant even without trend lines.
In our previous idea, we talked about Gold's Head and Shoulder pattern, it has completed a shoulder and it's still trying to form a bottom for it's head, it...
The yellow metal has been suffering a decline for days now due to a possible formation of the head pattern, once confirmed, price will go all the way up to the 1800's and for the shoulder, price will come down, test it's previous support which was the reversal of the previous shoulder to the upside, then go all the way to 1820/1825.
This is not financial advise,...
GBPUSD has been consolidating for a while now after it's impulsive move up and as the market always do, it repeats itself, the imbalance from the engulfing candle during the New York session needs to be filled which will make us go short !.
Looking back in time, we all would agree that we would have to have seen the future to predict where bitcoin currently is at the moment.
Let's take a while and reflect on the little beginnings of BTC🤩 !.
After the green-back bounced off of 90.400, it impulsively pushed higher and remained bullish even with the countless pullbacks it made.
The dollar's making a divergence already buyers will get exhausted when prices hits around 91.450 or 91.500 then the bears will take over making the XXX/USD pairs to bullish and the USD/XXX pairs to bearish!.
The trend is your friend, follow the trend.
EURUSD broke the trend line and has crossed both RSI's...what more confirmation you looking for?
Note: this is not in any way a financial advice, do your analysis before trading.
XAU/USD just broke our trend line after consolidating in our support line in our RSI for a while.
Wait patiently for it to get oversold and after price comes out of our oversold zone a little, you buy after confirmation.
Note that this isn't financial advise, do your technical analysis before placing a trade!.
XAU/USD one of our favorite metals begun consolidating when it crossed the 1900 level which means it's preparing to hopefully breakout to the upside during the remaining days of the week!.
XAU/USD hasn't been able to cross our support line in both RSI which means the liquidity it's gaining will either make it bullish or bearish 🤭.
This is not financial advice,...
As you can see, EUR/USD can't break our resistance in both RSI because DXY was in an uptrend and is now consolidating.
Let's see where the trend takes us next!
Wait patiently and you'll reap the fruit of your patience!