Blue Palm Institute Setup 💎
Pair💰: XAUUSD
Weekly Time Frame🖥️:
Weekly Excelsius View🖥️:
Daily Time Frame🖥️:
Daily Excelsius View🖥️:
4 Hour Time Frame🖥️:
4 Hour Excelsius View🖥️:
Explanation of Analysis📚
Weekly Time Frame📚: At the moment, price is currently consolidating and slowing down after the run it had almost to the ATH (all time high) of price. For us to really know if price will continue on past that and create new ATH, we need a break completely of the ATH level (2075.282) Once this is done then we can expect price to keep on pushing up.
Daily Time Frame📚: With how the daily closed, we are right at the daily high, a break of that can lead us into the daily higher high to then have us continue on up. Now price can also break below the daily higher lows and start to shift momentum to the downside.
4 Hour Time Frame📚: For buys, we need a break above the daily higher high on the 30 minute time frame, once the break of the daily higher high happens on the 30 minute time frame, we then wait for price to form a new higher high on the 30 minute time frame, after the higher high has been formed, we need a single candle body close above the new 30 minute higher high to enter for buys. For sells we need a break below the daily higher low on the 30 minute time frame, after the break of the daily higher low on the 30 minute time frame, wait for price to form a new 30 minute lower low. After formed, wait for price to break the 30 minute lower low to enter for sells. If the trade does not give you the 1:1 RR to the next key level, do not take the trade.
Pair💰: XAUUSD
Weekly Time Frame🖥️:
Explanation of Analysis📚
Weekly Time Frame📚: At the moment, price is currently consolidating and slowing down after the run it had almost to the ATH (all time high) of price. For us to really know if price will continue on past that and create new ATH, we need a break completely of the ATH level (2075.282) Once this is done then we can expect price to keep on pushing up.
Daily Time Frame📚: With how the daily closed, we are right at the daily high, a break of that can lead us into the daily higher high to then have us continue on up. Now price can also break below the daily higher lows and start to shift momentum to the downside.
4 Hour Time Frame📚: For buys, we need a break above the daily higher high on the 30 minute time frame, once the break of the daily higher high happens on the 30 minute time frame, we then wait for price to form a new higher high on the 30 minute time frame, after the higher high has been formed, we need a single candle body close above the new 30 minute higher high to enter for buys. For sells we need a break below the daily higher low on the 30 minute time frame, after the break of the daily higher low on the 30 minute time frame, wait for price to form a new 30 minute lower low. After formed, wait for price to break the 30 minute lower low to enter for sells. If the trade does not give you the 1:1 RR to the next key level, do not take the trade.