philobwanda

philobwanda

As explained in my previous idea, the markets have been bullish due to fundamental statistics. With Biden possibly winning the election, Gold has become a safe haven with most investors retreating from the dollar index. This stimulus though is not exempted from key levels that have been previously respected by the market. As a result, of our key area being broken,...

philobwanda

The move for the 2 hours has mainly been bullish based on fundamental statistics(Biden's possible win). The price has blown and broken a key area of resistance as seen in my chart. This has strengthened the move up making it to move and has reached another area of interest. Tuesday's resistance area R1 held well and the price is expected to bounce in this area....

philobwanda

1. Wait for the price to test the pivot point S1 and bounce. You will know this when a bullish conviction candle is formed. Go long and target PP 1901 and 1902 zone. If that zone breaks you can aim higher and go for 1909-1912 zone. 2. Once the price reaches the PP zone, wait for the price to bounce off that zone and go long. Target for S1 3. For your stop losses,...

philobwanda Updated 

1. Pivot point has been broken but the price has reached a key area of interest 1907-1909 area. 2. As seen, the RSI is reading overbought conditions, combine that with Stoch and you get a clear overbought market condition. 3. You need to wait for a bearish conviction candle to form before going short. 4. After confirming this, go all in and target for the PP 1902...

philobwanda Updated 

I'll explain after it occurs