Asia and the Euro sessions set up the bear bias for yesterday, with the America's finding final support at 1939.78 and bulling back to safe zone above the SMA50 (1H TF SMA20). I now have a "Flat Top" Channel replacing my original bearish correction Channel that was broken with yesterday's bearish action. I will open Long positions inside the lower deviation of...
The America's session pushed boundaries late yesterday but the price retaliated back to the channel within less than an hour. The Bull spike was also the first 1976.70 retest since the 28th, so price action alone reveals a Bullish bias. Bounces both off the Channel and the 50 SMA allow minor trade entries while we are in a consolidation trend. Check for momentum...
With 7400+ point movement yesterday, the trend has resettled back within the original channel before the huge Bull vs Bear correction that was bound to happen some time or later. I did not trade the whole shebang 🥺 as nothing was certain at the time. Now with viable Supports and Resistances available I may re-enter the market as NYSE open. If the price breaks...
There are two ways WTI can play out, Retest and bounce of the 1H SMA100 to bull and retest 42.02 Resistance, or Retest and fail the 1H SMA100 to bear near to the bottom of the Descending Channel, lower than yesterday's 40.57 Support. Trade Brent, Dubai or West - trade OIL! 🖖
Yesterday's session kicked of with my previous (Sunday's) prediction's Scenario 1, with the Asian session bull from the market open. The Euro session pulled back about 0.60% to the 1H SMA20 to let the US bounce to complete half the intended 2000$ target this week already. 😮 Madness! Today I foresee the 2000$ target falling by the end of the US session grind. We...
With the Bulls smashing the 1900 Piñata 🦄, I have 3 possible scenario's that may play out this coming week and how I will trade them. Scenario 1: Bulls has the momentum already and a continuation of the current trend launch Gold into the 2000 zone - A close above 1915 will signal a continuation of the Bull trend, I will treat 1915 as Support then as well as...
With the 1H TF close Lo price respecting the SMA20 as moving support, it is fair to say a reasonable close below could open the door to a correction lower than the 4H broken Resistance (now Support) for today. Also a bounce from the SMA20 may hit the 1900 Piñata and in that case a correction will be imminent. The Asia session so far is indecisive with a kick start...
With sediment still net long on most brokers and with the 1900 Piñata 🦄 dangling and solid supports forming yesterday, we are in business today! As the bull trend clearly respect the SMA20, it will be the major moving Support as well as the pivot in case of a sudden sell off. Immediate support will be where the 4H Hi Trend was broken Resistance yesterday, with...
With the ATR rocketing double it's value in the past 24 hours and the closing price pushing above the 2x Keltner Channel and still no concrete Resistance Levels confirmed to bounce off from with Supports in left in the dust ... Today is a good moment to kick back, let shit go down without risking anything! 😊 I use a method of measuring from an MA to a Hi or Lo on...
As part of my trading plan as a day trader I do not trade in any direction where the market as not closed in before. So buying a magic Gold ticket will not happen until the market swings and retraces to leave Resistances for me to do proper analysis with. Risk is nullified if you do not trade at all! 👍 With Trend lines now a thumb sucking strategy without solid...
My idea is the market will make it's way down through Supports S1 to S3. With S4 the lowest Support @ 1793.33 where we have a major Support and Resistance zone. I do not believe that the trend will be a nice gradual slope but rather choppy near Support zones. I am not negating the idea that if the price breaks and closes above 1810.90 a bull run pushing to...
As long as 1795.5 Support holds, A bull towards 1800 with major short term Resistances R1 to R3 may come to play. A close below 1795.5 Support could see a bear towards S1 and S2 Supports. Note: 1795.5 was a major support/resistance on 7/8 July to the initial 1800 bull run and I will use it as a Pivot until market closes for the weekend. My Intraday trading idea...
My Intraday trading idea: Gold has broken upwards since my previous idea, and has moved into a pinched position between 1814+ held for 106 hours and an bullish uptrend for the past 37 hours. If the price closes lower than the 37 hour trend line, as well as the SMA20, it could signal a bear for some hours or more. If Gold push itself upward above yesterday's high...
This is my trading idea for today ... and also my first chart I publish... Be kind 🥺 Gold has been moving sideways in the past few hours, waiting LSE to open for some action I hope. If the price closes above 1810 we could see a move to the farthest resistance around 1814. A close below 1807 could see a drop to 1793/1792 support and may spike lower. Note the...