This pair is in a clear downtrend from Monthly, Weekly and Daily timeframe
On H4, it has been on a retracement whereby it returned to OB and started dropping.
Now we've seen BMS for H4,and lower timeframes to sell. Therefore we're going to re enter sells when price returns to H2/H3 OB, or wait for another BMS on H4, then enter at retest of BMS or RTO that will...
From the monthly and weekly timeframe we're clearly bullish to 1907 area.
Daily and H4: we've broken structure to sell at 1850.
Therefore we'll be looking for sells from the M15 OB at 1855 and at retest of BMS at 1851. Targets indicated on the chart
From the monthly timeframe we're clearly bullish to 1907 area.
Daily: we're bullish between 1867 and 1850 range.
H4: we're bearish because we have broken market structure and price returned to OB 1862.5 which seems to respect.
1st Bearish signal will be h4 candle close below 1858.9
2nd signal will be break of 1850.6.
This will give us a drop to 1845, then...
1870 is a strong zone from the weekly timeframe. We can see some rejections from the zone already from the daily and H4. If it holds, it should drop to 1833/1827 zone, then 1808, then 1679.6
Levels to watch out for
H4 Should close below 1862.67
Next close below 1850.64(Daily BMS)
Gold is very few pips away from the weekly OB at 1872.8. We'll be looking for sells here targeting the retracement. Since it's long term bullish, we'll take buys at 1830/1810 targeting 1900s and 2034 highs.
Areas of interest marked on the chart. All the best
We are currently at equal lows or consolidation on H4. There are higher chances that price will drop to the daily OB. We will take short term sells at the H4 OB and Long term buys at the daily OB. Target is 127.80
2 possible scenarios. Gold has a strong bullish momentum but it's approaching a critical level at 1828 zone. That zone is a strong monthly resistance. But something interesting is that we have some equal highs at that level, meaning too much liquidity is lying there. There's a possibility therefore that Gold might rally to 1870 before dropping.
Seconf scenario is...
After perfectly obeying the weekly OB at 158.87, we have started to see GJ dropping. There are 2 scenarios here; One, it'll drop to the H4 OB at 153.53, then rally to 154.68 where we'll take sells.
Alternatively, it'll rally to 154.68 where we'll sell.
All the best
Gold has already broken structure on H4 to bearish. It reacted to a daily OB at 1772 whereby it has started to retrace in order to gain momentum to drop. Therefore we can look to buy and sell at the indicated POIs. All the best
I think GJ still got some room to the upside around 159, reason is that it formed that zone there, consolidation with equal highs. kind of a resistance and support zone. Stop hunt(liquidity) has occured on the downside and is currently on a beautiful OB on M15, Higher chances it will rise from there to go grab liquidity above.
After a very strong rally to 158.18, GJ got rejected by the OB around 158 area. We are now seeing break of market structure on H4 timeframe. Therefore we can take small sells as we wait to see clear BMS on the Daily timeframe.
New CFD Alert.
Nas100: monthly we're on on a buy range.
Weekly we have broken structure to the downside, but we haven't had RTO or retest of the BMS.
For that to happen we need to see BMS on the daily( which has happened btw) where we can take short term buys to RTO of the weekly.
We can therefore buy at 14797.8, 2nd buy at 14617 and first target 15106.4
Gold is still in the buy range both in the monthly and weekly. On the daily we have already started to break market structure indicating buy pressure. Best point to buy is on the RTO at 1745.788 in daily, or H4 at close of imbalance around 1738
Monthly we broke market structure to the downside. We would want to see price RTO so we can take more shorts. For price to RTO we need to see BMS on daily, so we can take some short term buys to our level of interest
Looking at it on the daily though, we can see that price just closed an imbalance and is currently reacting to an OB where we might see some drop
Monthly price has gone above the lowest price. So we'd have to look for BMS on weekly if we're indeed going to long.
On weekly, price closed slightly below the LH that we're expecting to be broken to take longs. Otherwise on the daily we have BMS but we're currently reacting to an OB. Therefore we can sell short term and buy long term.
We've been waiting for this pair to RTO on the daily. That has not happened yet, although it's about to. However, you'll see that on H4 we have started BMS to the upside. Therefore, I'll take a small buy on RTO on the H4 as I watch to see whether it will return the main OB around 0.7155