GOLD IS FINALLY ABOUT TO FINISH CONSOLIDATION AND A NICE UPTREND IS EXPECTED BASED ON MY OWN ANALYSIS.
HENCE MY PLAN IS BUY AT 1895 AND AIM TO 1948 NEXT WEEK, SL AT 1889, A 1:9 TRADE.
THIS TREND IS GOING TO START FROM MONDAY, OCT,19TH,2020.
WISH US ALL GOOD LUCK.
GOLD WAS SELLING OFF TODAY AS WE SAW DOLLAR IS GETTING VERY BULLISH.
HOWEVER, I SEE IN A DIFFERENT WAY.
LARGE INSITITUE IS MAKING RETAIL TRADER VERY PANIC SO THEY COULD BUY WHAT THEY NEED.
JUST LIKE I SAW ON THE CHART.
TOMORROW WE MAY SEE GOLD CONSOLIDATING BETWEEN 1931-1910, THIS IS WHERE THEY BUY THE STUFF FROM US.
SO I AM GOING TO TAKE A POSITION AROUND...
Gold is consolidating brefore NFP release. I am currently holding a long basis of gold.
Price was forecasted as shown in the chart, price may got resisted at around 1940 then it will test 1916, if price can bounce back, it will validate 1925 twice at least, then we might see a rally of September up to 2050 or even a new high.
If hourly price close below 1916,...
GBPCAD failed to close below 1.685 on daily chart.
Hourly ABCD had completed
1.wait for 1 hour candle close above 1.69, wait for 618 pull back and buy, aiming 1.697
2. If price move down to 1.685, follow bullish bat pattern and buy, aiming 1.697
CHFJPY is trending down on 4H, 4H previous structure had just been broken.
Hence, we tend to short the pair if it pulls back to 112.78, aiming 112 and 111.66.
If 1H close above 112.78, abort the plan.
Sterling is consolidating inside key range around 1.2430, we could see a bullish bat in a smaller time frame with the demand zone formed during UK session, hence, we could try to long GBPUSD with very small risk, aiming 1.2419
Oil is currently consolidating in the loading zone.
June,6th, bears setup their defence.
June ,16th, bulls were failing to take back control of the uptrend because they did not close above bears defence.
June 17th, again bulls failed and might form a daily inside bar.
What is going to happen tomorrow?
Are bears coming back? see you at 27.5?
We will see!
AUDUSD is showing bearish sign already at 4h time frame, hence, I can consider to sell AUDUSD after pull back.
AIM: I will see how it goes along the way down. Half position at 0.6442.