Since October 2022, Gold has demonstrated a persistent upward trend, characterized by a well-defined channel on the weekly chart. However, May 2023 witnessed a significant structural shift as Gold broke its established pattern on the daily time frame, leading to a support-resistance flip. The resistance level now stands at 1980, while support is estimated around...
Gold Is currently in the middle of a downward regression trend on the 4hr, price could go either way. Kitco Forecasts for this week suggest Wall street is 42% bullish, 21% bearish and 38% neutral and Main street appear to be 52% bullish, 26% bearish and 21% neutral. Plan for both long and short opportunities, Asia session presented great scalping range trade...
Since October 2022, Gold has demonstrated a persistent upward trend, characterized by a well-defined channel on the weekly chart. However, May 2023 witnessed a significant structural shift as Gold broke its established pattern on the daily time frame, leading to a support-resistance flip. The resistance level now stands at 1980, while support is estimated around...
Since October 2022, the XAUUSD (Gold) has exhibited a consistent upward trend within a clearly defined channel on the weekly chart. In May 2023, Gold experienced a significant structural shift as it broke through key levels of support and resistance. The resistance level is now established at 1980, while the support level is estimated to be around...
Strong up-trend due for reversal/retracement into the 0.618 - 0.382 fib zones or the 89 - 200 EMA The Yen is also over sold, which can add to seller appetite. Confluence: BOS on Daily TF results in retrace RSI over bought EMA's fanned on lower time frames Entry 172.100 - 172.900 SL 172.200 Move stop to entry once price reaches 171.300 TP 1 - 169.516 TP 2 -...
Trade Plan: S/R Flip Weekly: BBWP is at 20.63%, price could potentially be looking to break out this week or next, previous break out on the weekly the BBWP was at 14.24% Daily: Price appears to have made a support and is likely to continue pushing up to 163.700, if price can break above this, we could see levels of 166.103 4hr: Price has formed support around...
Trade plan: I am looking for buys from 162.000 to ride price up to exhaustion where I will then be looking for sells Weekly: Price has double topped on the weekly time frame, hasn't broken the high of 168.710 or the low of 155.609, so technically still in an up-trend from a macro perspective, when also looking at the monthly chart GJ has plenty of room for...
Trading Plan: Horseshoe pattern - I am waiting on price to reach 165.000 to enter a long on the retrace in the golden pocket, as always I look for scalping opportunities in the main supply/demand zones, I just use S/R flip strategy for this. Weekly: Price has double topped on the weekly time frame, hasn't broken the high of 168.710 or the low of 155.609, from a...
Weekly: Price has double topped on the weekly time frame, hasn't broken the high of 168.710 or the low of 155.609, from a macro perspective price is technically still in an up-trend Daily: Price has broken neckline low of 161.727 and could be due for a short term retracement given consecutive days in the red. A close below 155 - 160 on the daily would be ideal to...
Weekly: Price has double topped on the weekly time frame, hasn't broken the high of 168.710 or the low of 155.609, from a macro perspective price is technically still in an up-trend Daily: Price has triple topped on the daily time frame, hasn't broken the high of 168.710 or the neckline low of 161.727, the daily candles are in a weak bullish up trend Lower time...
Price has double topped on the weekly time frame and triple topped on the daily. On the lower timeframes price has attempted to double top the 167.855 however fell short on the second rally up signaling not enough buyers willing to buy GBPJPY at those prices currently. Price has retested the 164.646, and could retest this level again given the triple top which...