Hi Traders, Today we are having a quick look at Gold on the 4-hour chart. We can see that price peaked into a previous daily resistance line at 1880 that was created towards the end of last year. Volume on the daily chart exploded as we tried to break that zone. However, we did not quite do it as yet. Price came back down with just as much volume. I am...
Happy Valentines Day Traders! Today, we are on the EUR/USD pair. We are looking at the 4-Hour time frame. We are checking back in to see how our EURUSD Double-top trade has played out and we are approaching the target that was set up last week. Remember that we were waiting for the retrace into the neck zone. Well, let’s have a look at the chart. Notice how...
Good morning! Today, we are on the EUR/USD pair. We are looking at the 4-Hour time frame. It seems we have a double top at play here. However, I’m not convinced about the neck zone ( Liquidity zone ) We have full (pure) divergence across the MACD. We also have a large bullish volume break-out bar. This could mean that it’s a bull trap and that price will move...
Good morning! Today, we are on the EUR/USD pair. We are looking at the 1-Hour time frame. Yesterday, I highlighted an area of interest that I would call an Order block. We can see that price was pushing down to support and wasn’t breaking it. The price kept bouncing up off it. I was waiting for a break through this support level. In the highlighted zone, we...
Happy Wednesday! Today we are looking at 2 order blocks that played out yesterday. OB 1) – Yes, I know it sounds like star wars haha! We can see that the order block zone ( Highlighted in yellow ) was an area of interest and used for liquidity as our entry perfectly sniped. I always like to place my pending order at the 50% halfway mark in the order block zone....
This is just a general analysis of Gold. We are on the 4-Hour chart. We can see that gold has indeed pierced above the 1810.5 price point as predicted last week. There are no major setups at the moment but we are looking for the price to come back down again to test the 1810.5 as a support level before carrying on its movement upwards to the 1830 zone. We do...
It’s NFP Friday today. You know what that means—volatility Volatility Volatility. I always avoid staying out of the markets on NFP day but let’s still look at what gold did today. We are on the 4-hour chart. I have marked up an order block, as you can see on the chart. An order block is an area of interest that market makers use to access extra liquidity,...
Well, it happened. Gold bounced off previous support around 1783 and rallied up to the 1810.5 levels. We mentioned that this could be a possible long play a few days ago. The question is, now that it happened. What’s next? We are looking at the 4-Hour chart. We do have a trend line supporting price up to the 1810.5 level, and as we can see, it did treat that...
What in the world could Bitcoin be doing. The truth is, no one knows what is in store is for the king of the cryptos right now. Yes, we have amazing bullish news with massive firms buying the dips lower and lower. Yes, we have the fear and greed index at all-time lows with retail emotions running ramped into the dark and people selling wherever you look. Yes,...
*UPDATE Looking at the 4-Hour view on Gold, we see that we have a potential inverted head and shoulders pattern playing out. We have seen a retrace to the neck zone (Labeled on the chart ). As we are Breakout/Retest traders, we always always always like to see a retrace back to where the initial break out occurred from before we considered entering. Now that...
Looking at the 4-Hour view on Gold, we see that we have a potential inverted head and shoulders pattern playing out. However, we have not yet seen a retrace to the neck zone (Labeled on the chart ). As we are Breakout/Retest traders, we always always always like to see a retrace back to where the initial break out occurred from before we considered entering. ...
Our 4-Hour channel Breakout from a few days ago has reached its target. The target was the bottom of the beginning of the channel. However, we had no retrace to the neck zone, so we had no entry. I am a breakout and retrace trader, and if I see no retrace to the point of interest, I will not take a position. My thoughts on Gold now is that if support does...
Our 4-Hour channel from a few days ago has quickly broken to the downside. We were waiting and expecting this to happen at some point; as we can see, we had complete divergence on the MacD and the RSI. Fundamentally, this drop was helped by the US Dollar Strengthening and the Federal Reserve Signalling that Interest Rate Hikes will be starting in March....
We have a Double Bottom formed on the 1-hour chart for GBP/USD. List of Confluences that need to be present for a high probability setup 1) We look at the bottom peaks of the double bottom pattern and ideally would like to see the second peak reach just a little lower than the first. This gives us a decent reason to look for divergence. Do we see this here?...
Looking at Gold on the 4-hour chart, we see a clear bullish channel formed. Price has been bouncing off the channel top and bottom since the 6th of January. I like to see two taps on the bottom and two taps on the top as a minimum to say that this is indeed a channel. We can see clearly that we have two taps on the bottom and two on the top. I also like to see...
This is a short term possible outlook for GBPUSD. We are on the One Hour Time Frame. We see clearly that price has been trending downwards since the 13th January 2022. We now see that price is bouncing between this possible channel. How do we know for sure that this is a channel? Well, I generally like to see a minimum of two taps on either side. As we do not...
We are on the 1-hour gold chart – XAU/USD. Price is pushing up in this time frame. As we can see, we have a highlighted box in yellow. It surrounds the most previous bearish candle. It’s not, however, surrounding the entire candle from wick to wick. It is only surrounding the body and bottom wick. This is known as an order block. Order blocks are specific...
Having a look at this Double Bottom on the 15 Min Chart, We see that we a possible chance of reversing to the upside as we had a very popular chart pattern play out known as the Double Bottom. Double Bottoms patterns are known as reversal patterns and generally occur at the end of a trend or when the trend starts to exhaust. Ideally, in order for us to get a...