momeah21

momeah21

If the price can reclaim 2040 level, we could see Gold rise similar to December FOMC. We can expect a lot of volatility and as such, consider taking half the normal risk. Good Luck

momeah21

We had a huge sell-off in Gold yesterday. The path of least resistance remains lower. However, I like the opportunity from these levels (to the low of 2012). Technically we broke a falling TL and we may be coming to retest TL zone. From geopolitical risk standpoint. The tensions in the middle-east could rise further with many reporting potential spread to a...

momeah21

We’ve broken out of the rising channel and last week we re-tested the channel. A break of support (last weeks low) would open up to further sell off.

momeah21

Since hitting a low, we’ve been making steady gains within a rising channel. However, it seems we are running out steam & could break to the downside. Don’t force the trade, let the market come to us!

momeah21

We are currently near an important daily structure level. Depending on how hawkish FED FOMC minutes are, we could head down further if this bear flag is validated.

momeah21

Are we ready for the next move down? We currently have a bear flag formation & with an expected minimum 75bps rate hike by the #FED we could expect a nice sell-off. Good Luck

momeah21

Gold has broken 2-Year support, unless this is a bear trap, we could go down to test the next structure level down. Next week we have FED rate hike decision & with high CPI data this week the market expectation is for another super-sized rake hike, which could trigger a further sell-off!

momeah21

From a Technical Analysis point of view. IF #bitcoin was to be viewed as bullish it needs to complete 3 phases of growth (A, B & C) Until then it can go down lower even after 2 of the 3 phases Ideally, what would help is a reversal pattern suggesting it has put in a bottom. We could take a LONG trade if we have a daily CLOSE like this, remember Daily CLOSE...

momeah21

We Currently Have A Head & Shoulders Pattern Active in AUDJPY IF valid we can expect good sell-off

momeah21

I am still shoring Gold and expecting to break the weekly structure this week.

momeah21

See my Previous Weekly Analysis (Linked) With expected FED 50 BPS rise next and investors/traders' flight to safety Bitcoin seems ready to push down further to the next phase. We are seeing an increase in volatility which could potentially also mean capitulation! Safe Trading & Good Luck

momeah21

Gold has been on a parabolic rise and now with the FED rate rise we could see a sell- off. On a four Hour time frame, we have a Bear flag and if this structure breaks we could go down further. Initial interest rate rises have been like kryptonite to Gold previously and I expect if the current structure breaks potentially a re-test of the rising trend line. See...

momeah21

Bitcoin has been very sluggish over the weekend considering the move early in the week. As we failed to break higher structures I believe we may move down quicker. The key level to watch is around 37K - If we have a weekly close below this level I think we have more room for even further downside. Good Luck

momeah21

Looking at Gold on a Monthly & Weekly chart at this present moment evidence from Price Action points higher. The key reasons are as follows; 1 Respected Weekly Structure - The attempt to break a previous high from May/June 2021 has been unsuccessful. 2. Respected Fib Level 38% - Gold also demonstrated the ability to respect Fib Level 38% and push higher 3....

momeah21

ETHUSD is showing further signs of selling off. We initially had a Double Top Chart Pattern which indicated a reversal. This has been followed by breaking a couple of major structures and now Price action is behaving within a Bear Flag chart pattern.

momeah21

BTC hit a support area within the bigger Weekly Bear Flag chart pattern. We can expect a correction before the next impulse move down.

momeah21

Gold has been with in a broadening chart pattern and with the failure last couple of weeks to break the weekly structure it is pointing higher Fundamental supporting rise: Tomorrow we have CPI data with the expectation of a record number for the last 40 years.

momeah21

Looking at Bitcoin from a Daily time frame, it looks like we will have further move down.