jakrmo

jakrmo

Just my thoughts on Gold. I honestly thought the imbalance was going to be filled sooner, so I missed out on potential trades to the upside. But, looking for Gold to liquidate sells, before heading down to fill imbalance next week. Follow for updates!!

jakrmo

I mean if you aren't long on this pair then idk. Fundamentally the GBP is forecast to out perform the JPY. Retail Sentiment is predominantly short - This essentially means that 80% of retail traders are short. If 80-90% of traders lose, then why trade with the majority? Think about it. Looking for a slight retrace to fill some gaps, then looking for long...

jakrmo

As you can see from the chart, I'm not convinced we are going down LONG TERM on this pair. Whilst we have see breaks of this upward trend, I believe this could continue going to the upside. My bias is based off of recent COT reports and retail forex sentiment. Something I always talk about on my channel is that 70-80% of traders lose. So when we see that there is...

jakrmo

XAUUSD has reached my key level of 1795-1815. This key area has been seen to be both a strong supply and demand level. Due to price being below this area at the moment, my overall bias is bearish until proven otherwise. Whilst we are in a strong monthly uptrend, I am of the opinion that this is some form of liquidity grab before price pushes further down....

jakrmo

Volume indicator + price action = success. Very very simple stuff. Yesterday's drop on Gold was so predictable when you place the variables together. Gold could not pass the 1733 zone marked on the chart, multiple wick rejections to the upside. This alone, shows there is a significant bearish presence in the market, and equally a lack of bullish presence. This...

jakrmo

Hope everyone managed to get a bit of that quick drop a few moments ago. If not, wouldn't worry, just wait for the retest of the next area of structure. We have landed at the bottom of this range, and i'm praying we don't have another few days of this monotonous ranging area we've found ourselves in. Looking for a break and retest of the 1728 level before a...

jakrmo

Looking for price to break this minor trend line indicated on my chart. Price as I write this is at major daily support/resistance at the 1738 level. I won't be entering any trades until I either get a - 1. break and retest of the 1725 level for an entry to the downside, along with further indicator confluence. 2. Or a break and retest of the recent high of...

jakrmo

Gold's fourth touch of the major trend line potentially coming up. Of course, we know that trend lines are extremely subjective, but this one seems to holding true. If this daily candle closes bearish then i'll be looking for entries to the downside with further confirmation from my indicators. A further confluence for me is that price has respected my baseline,...

jakrmo

The last few days have presented many opportunities, and simple setups for Gold. The 1725 area has held true to be an area where price respects, and I don't believe that to be any different in the upcoming few trading days. For the late Sunday session, and early Monday session, I think we could see a small gap up. After that, I will be looking for price to react...

jakrmo

As per my last Gold analysis, I said I wasn't sold on the long term trend flip to bullish. Overnight the Asia session broke the consolidation area marked on my chart, which potentially ends the bullish pullback we've seen over the last few days, but who knows right? I am looking for a strong break of the 1700 level before I consider any sort of entry. If i am...

jakrmo

My bias primarily is still bearish for the long term. However, as shown in my chart, I am prepared for my bias to turn bullish if price breaks and retests my daily resistance area. My short term indicators have turned bullish for this stretch towards daily resistance, but long term it still points down. First time posting ideas on here. Everyone has different...