On a larger spectrum, I am convinced that Gold is indecisive about a clear direction. For now, xauusd is consolidating between two big trendlines. I am not saying that it is not tradable on a smaller frame (Honestly I do too). But the major direction still awaits breakout confirmation. For the reference, we must break one of the two (red and green) trendlines to...
Short-term idea: We might undergo a head and shoulders scenario on XAGUSD if 22.21 breaks. This idea is invalid if the price goes above 22.71 before breaking 22.21 or hits the stop loss at 22.6 after breaking 22.21 and before reaching the target zone. This idea is valid only a H1 gives a closing price below 22.21. If this idea validates: Stop loss is at...
I deem it important to visit long term projections of the instruments we are trading on day to day basis. Therefore, today we are going to discuss about what is happening on XAUUSD monthly. In my last long term projection ideas (See related ideas) I claimed that the major downtrend has struck the yellow metal. We underwent a major reversal triggered by breaking a...
Cable ( GBPUSD ) does look like giving out an appealing short entry possibly heading to a new historic low or at least previous predefined and recent lower target considering the following: 1- We have breached and retested the latest possible lower trendline (Green) on the daily timeframe 2- There is a possibility of double tops on daily timeframe if we break the...
As elaborated in my previous idea that we have undergone a bearish reversal on gold, this is the further explanation of what to expect in the upcoming adventure of bearish trend continuation. And what the daily frame has to offer in the longer run. As it dropped from 1959 it dropped us a high and low price (1860 rounded off). This has allowed us to apply the...
Aussie may be fruitful to sellers in the next couple of weeks pouring out a healthy opportunity to expect over 200 pips, here are the technical aspects you should consider: 1- Head and shoulders reversal pattern spotted, marking the start of the downtrend 2- Daily lower trendline has been breached and broken low (another reason to expect a downtrend) 3- Head and...
Alright guys, we have come across something very interesting on our favorite metal. Today a few of the technical perspectives that I want to highlight are as follow: 1- First of all, I would like to warn you that it is a long term signal but you can trade it on intraday basis looking entries in the major direction 2- We have spotted a major inverted cup and...
Alright guys, USDCAD might be heading high, here are my reasons to expect further deterioration of CAD against USD: 1- Inverted head and shoulders pattern spotted 2- We have been long inside the falling wedge (The ABCD triangle) and we are on the brink of breaking out, although we need a daily closing price outside the upper border of the triangle 3- Let's just...
After our last target on XAGUSD bullish analysis (see related ideas), the target zone was hit and managed to bounce the price by a $1 i.e. 500 pips. Now, we should be expecting some large frame correction considering the following technical aspects that silver just presented: 1- Weekly Bearish Harami Candle 2- Strong Daily bearish engulfing candle on last...
With USD recently becoming a less attractive asset to hold following the recent dump and bubble burst, US10Y bond yields are not demonstrating a very appealing picture as well. Technical aspects are as follow: 1- Daily TF Cup and Handle reversal pattern 2- Uptrend lower trendline Broken 3- It has made a first Lower High and Lower Low and still pushing lower with...
This roadmap is what we have been dealing with for last whole year. With each level breaking we are headed for the next. Therefore, I felt the need to highlight the importance of these levels in this idea. Trend has been bullish since last November, 2022 (Double bottoms formed during October). Since we are still in the range between 2071 and 1614, we will only...
Guess we will hit the final target of the 3rd bullish cycle at 1952. Here are my reasons: 1- Hourly trendline broke higher 2- Daily rising Three methods pattern Higher than 1952 is just bonus
Things have been quite boring since we are stuck in the rising consolidation on Gold. Anyways, just to highlight the fact that things are pretty stuck in this entire range. All we can do is wait at the moment for a clear direction. The red line marks the ascending resistance where the yellow line marks the bearish lifeline. Since gold has failed to cross both of...
We have approached a very critical zone for gold that has proven to be the major deciding factor between 2k and back to 17xx and lower for the last 3 years. Supply Zone 1 and 2 are the only zones between higher 19xx and 2xxx price levels that have the potential to bounce the price back to resume the bearish trend. If they fail to bounce the price, we are very...
Bears were recently presented by a discount opportunity with the news of BOE bond holdings venture that triggered the trend on Gold against USD and we saw market move from 1614 to direct 1729 without brakes. Now as we saw on USDJPY making a drop of over ~600 pips, BOJ could be expected to be the one behind the sudden jerk against USD in the entire market since Yen...
Let us analyze XAUUSD in the perspective of supports and resistances today. Currently, we are being resisted at a major resistance zone between 1795-1806. If we break higher than here, we might see it targeting the range of 1843-83. To see a proper approval of the higher levels this current resistance zone must break. However, let us now analyze a counter...
Alright guys, our bearish cycle started from the price level of ~27.94 and ended at the price level of ~17.59. Considering both these extremes we have a very broad range of over 5000+ pips to play in between. We are now having multiple PAs to confirm our bullish continuation, such as: 1- Major Inverted Head & Shoulders pattern with a broken neckline, marking the...
Alright guys, today we are going to highlight some very important price zones pertaining to the possible goals of the price movement of Gold against USD. What we have witnessed is the ease in monetary policy of the federal reserve following up with the announcement of easing up on the aggressive interest rate hikes for the last quarter and first FOMC of the first...