While it is too early to call as we still have one more candle to go, it still looks like the market is currently in a bit of a mix-up. More accurately, it is acting indecisively. Let's wait for the next one to form, and if it is a bullish candle, it's a clear sign to go long, at least for a bit of extra profit. However, if the next candle isn't bullish, the...
On the 15 minutes timeframe, XAUUS is showing a strengthening Morning Star Doji pattern. The first two candles are aligned perfectly, and the third one is also in the process. At :45, if the candle remains bullish, expect a short bullish burst, good enough to cash in some extra profits.
Hey folks! Glad you could be here to read this. If you read my previous update on Gold, you would have a massive smile across your face and a hefty bit of profit to enjoy too. Congrats on that front. It is time now to get to business. Currently, the 4 hour timeframe shows that gold is already trying to bounce back up and retest the previous support level (which...
Not much has changed since my last post. Over the weekend, we haven't seen any news or come up with anything that may suggest a swift recovery for the EURUSD. All the technical indicators and sentiments continue to suggest that EURUSD will go further down. The chart shared with you above has MACD and CCI, all of which point south. Therefore, it would be a safer...
The chart above shows just exactly how far below gold is expected to tumble. However, it may regain some momentum somewhere around 1740 region, but if it doesn't, set your t/p at the support line shown on the chart (ideally, slightly above it). For now, all indicators point south...
The chart above shows a clear Evening Star Doji pattern forming, and at the time of writing, the last candle only has less than 17 minutes remaining to finalize. For anyone who may not be familiar with an evening star doji, it is a solid indicator of a bearish reversal, meaning that the asset will take a fall in prices. When Dollar Index (DXY) falls, Gold and...
Hey folks! Happy blessed Friday. Yesterday, if you were following my posts, I mentioned how the DXY (on the 4 hour timeframe chart) was forming an Evening Star Doji, which indicates a bearish reversal. The candle did go on to complete, and now the results are in just as we expected them to be. Gold started its road to recover and so has EURUSD. However, please...
BTC has been going through a rocky ride, especially in the last few weeks. There has been a consistent resistance at certain levels (top two trendlines) and the region between the two is the Area Of Value (AOV). For those who may not know what AOV is, it is the region where you can expect to make perfect entries. For now, BTC has run its course and has arrived...
Given the current situation, EURUSD has been on a downtrend. In the chart above, I have two lines at the top, both acting as solid resistance. You might ask "Dude! Why two lines?" Between these two lines is what is called an Area Of Value (AOV). If the price is to break through the first line and enter this AOV, we can comfortably take a short position and hold it...
If you followed my previous posts, you are certainly loving the profits that came forth. The gold did break through, and dare I say, it is now going to rebound back up for a retest. The chart above has nothing new added to it. The reason I am sharing this is to show you the trendline resistance that I had already drawn in my earlier charts. The trendline acted...
Ever since Gold touched its all-time highs back in 2020, things have been going downhill. However, what people might not have noticed is how there seems to be a pattern that is in the making. We are on the verge of the end of the triangular formation, and somewhere in October 2021, we can expect a massive breakout. In the chart that I have just shared, the pink...
Hey Folks! So, I've been posting a lot about gold. Now, I decided to switch over to EURUSD as I know that many of us prefer this reliable currency pair. Currently, there is an evening star doji that is clearly forming on the 1-hour timeframe. I have highlighted the pattern for you. At the time of writing this, we still have around 17 minutes before the pattern...
On the 2 Hour timeframe, another pattern is in the making. If it so happens to be a morning star doji (one bearish candle, followed by one where the market is undecisive, and ending with a bullish candle), we will see a market reversal and Gold will enter into a bullish upward trend on the 2 hour timeframe. I have highlighted the pattern for you. Please allow...
If you have followed my previous posts, you'd probably be in sitting atop some good profits. Currently, Gold is struggling to go bullish as there seems to be significant selling pressure. The 20 MA on 4 Hours timeframe reveals a moving support for the gold prices. In the meantime, DXY, which started in the green, has dived down to red, albeit it has recovered...
An emerging Evening Star Doji is forming at 4 Hours timeframe for XAUUSD (Gold). If the pattern completes, this would indicate a bearish reversal for gold. If you aren't too sure, I would advise you to wait it out. Follow the pattern closely until the end of the fourth hour for the current candlestick. If the pattern lines up, meaning one bullish candlestick,...
If you followed my previous post, I mentioned how the DXY (Dollar Index) was in an upward trend. Now that the market has opened again, the bullish trend is more visible, especially with the reverse head and shoulder pattern completed. If you haven't already done so, it may be a good time to enter the market in Gold and go short (for XAUUSD ONLY). XAUUSD has...
The Dollar Index (DXY) is usually the opposite of Gold (XAUUSD). This means that if DXY goes up, Gold comes tumbling down. At the moment, there is an upward trend for the DXY, but there are two things to expect: 1. It will hit the resistance at 92.78 region and may fall back. 2. We will see another breakout as the support and the resistance are closing in. If you...
The trendline shown in the chart has continued to offer significant resistance for the past few weeks now. Furthermore, there is strong support that I also highlighted in the chart. Between the two regions is the area of value, and if the chart shows anything, it is that the EURUSD will continue to slide down further. My bet? Go short! PS: Beware of a possible...