Gold is becoming weaker and weaker.
lower highs are closer and closer to a yellow horizontal daily structure support.
this trading week the market was phenomenally slow and we didn't see even 1 strong bullish/bearish candle.
currently, it is better to stay away from gold and wait until the market will start moving.
Crude oil lost almost 10% from the 26th of August.
clearly, 43.5 is our new key daily structure and currently, it is the closest strong resistance.
the closest support is quite far.
34.4 - 36.2 is the first strong support based on this year's price action.
the next support is lying within 27.1 - 28.7 also based on this...
if you are struggling to make predictions on gold atm, you are now alone.
I am also stuck with its price action and behavior during the last two weeks.
technically the price is now trading in the middle of August's trading range.
the support of the range is based on the rejection wick of 12th august candle and two major...
My preference : We will Look for a price action pattern to appear in buy zone on a lower time frame next week before taking entry in the market.
1 - If price reverse before touching the demand zone then we will wait for the market to break 37.80 to enter.
2 - If price breaks below the demand zone and we don't see any sign of...
We are giving out another free trade idea where Oil will be falling over the coming months.
This is a 3 Day chart.
This is a swing position trade
Be willing to hold it for some time.
Dont be silly with your position size.
The chart doesn't line up with the fundamentals in the world economy.
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For new and inexperienced traders, seeing the harsh sell off this morning on Gold would probably have put their minds set on going short. But for the more experienced and knowledgable traders out there, this is a great time to go long on Gold.
Gold is a safe haven asset that investors turn to when they feel their money is not safe, they buy gold as a secure long...
What a rally on Gold we've had this month. We managed to capture 1,400 pips to the upside, although I did end up giving back 350 pips being early on the short position! Is what it is.
Next week we will get a slight push up to around $1820-1825 this will create the 3rd touch of the Daily structure and the last touch of the 4HR Ascending-Channel. So we have a...
Traders are about to get caught on the wrong side of the market on this last rally up to $1850-1860 before a short correction. You will notice on the weekly chart 'support' has been broken and we have corrected above this. Stay tuned for a lovely short position that we have been planning for a couple of weeks on Gold.
XCU Copper Great bullish momentum for months.
Key Question - Could we head higher or go lower?
We have a pattern with trend-lines to add confluence. Taking whichever way it breaks - Could add alerts or orders to make it easier. Don't forget to keep in mind USD. On the DXY we are a key area.
This is just trade idea, not a recommendation...
On the larger Daily structure we have had a clear 4 Hour wick rejection. on the smaller structure we are clearly creating Triangle continuation structure allowing for a 2:1 risk/reward set-up.
Copper - where I check is there risk on or off sentiment. Now Copper is an interesting currency technical wise, Will we get pull back as we've reached 161.8 Area. Whilst checking Copper, waiting for pull back before run up - perhaps check other commodities as well such as silver and gold. Long term perspective copper price seems optimistic.
Now remember: This is...
On USOIL we have broken an ascending channel and now price has formed a retest which coincides with a key level. Price has the potential to fall to the beginning of the structure, which would be at around $32 a barrel.
it looks like gold has successfully violated the 2011's/2012's highs and closed above them.
now it is quite probable that the price will manage to reach all time's 1919.0 high soon!
here, just with ATR indicator we will try to assess how much time it would take for the market to reach the above-mentioned...