My Expectation for Gold for the coming week is obviously a Sell, But remember we can only follow Price and not lead it...
All TakeProfits (Orange Lines) are based on Daily Support and Resistance
Will only Take a Buy and Sell based on Price Action. Goodluck 👍
I'M EXPECTING A BEARISH RETRACEMENT BEFORE THE OVERALL BULLISH MOVE
** READ CONFLUENCES BELOW & ENCOURAGE ME BY LIKING THIS IDEA, THANKS **
1. ON THE MONTHLY TF, THE LAST CANDLE JUST CLOSED INDECISIVELY, SIGNALING A BULLISH CONTINUATION IN FAVOR OF THE OCTOBER CANDLE
2. COMING DOWN TO THE WEEKLY TF, WE CAN SEE CLEARLY THAT THE MARKET HAS BROKEN A SEVEN MONTHS...
HEADS UP ON AUDNZD... READ FULL CONFLUENCE 👇
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I EXPECT A BULLISH MOVE FIRST BEFORE THE OVERALL BEARISH MOVEMENT.
** REASONS ARE, THE MARKET HAS BROKEN A STRONG TRENDLINE, SHIFTING FROM AN OVERALL BUYING MARKET TO A SELLING ONE.
** WE CAN CLEARLY SEE FROM A WEEKLY PERSPECTIVE THAT THE MARKET IS STUCK IN A...
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** On the Monthly TF we can see that EURUSD has printed a very clear Bearish engulfing candle
** We can also see that the market has successfully broken a strong 5 months accending trendline, giving us a shift from our buying bias to a sell
** It has also started creating its first lower-high point
EURCHF Finally has broken out of a 2 year descending trend line, which gives us a shift from a selling to buying BIAS, extra confluence is that it has just bounced off a demand zone and has successfully retested it on a 78.6 fib level. I'm already holding BUY Positions and I expect price to rally to my final TP around 1.1000
STAY BULLISH 'LONG TERM'
1. STRONG DEMAND ZONE
2. 38.2 FIB LEVEL AT THE WEEKLY AND MONTHLY TIME-FRAME
==> You can also wait for a break of the trendline for extra confluence
3. FINAL TAKE PROFIT AT 1.3660
Daily Bullish Engulfing on a strong Trend level, Broken our Dencending Trendline and is projecting upwards, Has created what seems to be a double buttom...
My First T.P is @1.95000
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