As predicted, price pulled back towards 1800. FED meeting yesterday had quite a big impact on the US market including XAUUSD. Will continue to monitor price around 1800 to see where price takes us. Currently price is heading towards the 50% Fib level so could be some buying opportunities on the horizon.
The double bottom formation which completed on the 31st of March this year confirmed a reversal and Gold has since regained some of its losses since the latter part of last year and the first half of this year. After a lengthy downtrend in the form of a Bull Flag, price broke structure and followed with a consolidation period. We've seen a higher high form on the...
A look at the Daily TF. As mentioned in my previous analysis - possible M formation or Bull run to continue.
Target from last week's analysis hit today after a perfect entry at 13760. The area highlighted in red is an important resistance level (14070-14080) as price failed to break it between the 16th - 29th of April this year. A look at the Daily chart shows a potential double top, If price fails to break this level then we may see bears gain control for a possible...
Expecting bullish momentum to continue today. The ideal price for a long position being at support - 13780/13760. If price comes down further then watch 13700 as a key level. Targets for the Bulls are 14000 to 14080 and wouldn't be surprised if those prices are hit today or tomorrow.
An interesting perspective to visualize how the previous 2 weeks have played out. Marked are each of the daily high and low points. Price has been creating lower highs since Tuesday and as we can see, Tuesday has created the weekly high and low so far. If price breaks Tuesdays low then price should come down to the 13550-13500 area. With a Fibonacci retracement on...
Expecting to see some more bearish movement today. Could see support broken and price move towards the 13515-13520 area. Clear descending triangle on the chart. In an alternative scenario, the bulls might gain control where price could form a higher high and continue up from there.
Looking for a buy around 13720 - 13710. Targets for today are the fib extensions. We may see a double top which would be a possible sell opportunity. Hopefully this month starts with some strong movements 💪🏼
NAS has been very choppy this week and hasn't made any notable moves. Hopefully we get more momentum today with jobless claims news later on. As we can see here NAS has been consolidating between 13750 - 13640. If we see a W formation form then we should see price retest the top of the consolidation with a potential break above for more upside. A break out of the...
Target 1 hit yesterday - pretty satisfied with how Fridays analysis played out, albeit that most of the movement only started yesterday. Price came down towards the 50% fib level as predicted. Hoping to see target 2 hit today and expecting a small pull back to retest support before heading in that direction. If my second target is hit today then I've set a 3rd...
Got a Fibonacci setup with price in consolidation and sitting on the trendline. If price breaks above I will wait for a retest before entering. A break down could be a fake out as there is a high chance it will hit the respective Fibonacci levels before heading up. News later might influence the direction of the market today so will remain neutral until I have the...
Looking for a pullback to 13440 or to the 38.2% - 50% fib levels for entries. Targets shown on the chart are the Fibonacci extension levels. Good luck to everyone trading today and have a great weekend ✌🏼
Hopefully not too cluttered with all the text - but usually when we see both the 50MA and 200MA leveling out, along with price consolidating between them, a large break-out can occur. If the bull run continues then we could see price heading towards 13440.
Yesterdays analysis was a total flop. A couple of guys commented and pointed out the M formation which I should have incorporated into my analysis. While my analysis was wrong, I was luckily able to catch the drop and make some decent profits. Part of growing as a trader is being able to admit when you're wrong and owning it instead of being arrogant and only...
Hoping anyone who saw my analysis yesterday was able to benefit off of it. Price came a bit lower than the 50% fib level but I just monitored price coming towards the 61.80% level and saw a bullish engulfing before getting in. Hopefully price reaches my target today. Might see a double top if price is rejected at 13430. Good luck to fellow traders today 🔥
Today we should see price pull back before continuing higher. The key levels for going long are at 13285 - 13232 which are the 38.2 -50% Fibonacci levels. I've marked the -27% extension at 13578 on the chart which will be the first target for today and if price continues higher then 13735 will be the second.
Looks like this week's sell-off is coming to an end with NAS closing 170 points higher yesterday. We also see investors coming back into tech stocks with Apple and Microsoft up over 2.5%. As illustrated on my chart, the ideal buy zone for today 13100 - 13080. If price is able to break resistance at 13384 then we should see price continue higher and close this week...