On the H4 timeframe, Gold forms a double top chart pattern (20th March & 24th March) as the 2000 level holds strong resisting further upside moves. On the H1 timeframe, a similar double-top formation is formed on the 24h of March. It is likely that the recent strength of the DXY and the formation of these chart patterns led to Gold trading lower, to the 1970...
With central banks having to promise they would deal with the liquidity crisis that is apparently everywhere and avoid another 2008-style meltdown of the industry. Crude oil prices came off their lows as the near-term outlook for the banking sector improved, easing concerns about an economic slowdown later in the year. Markets are also holding out for more cues...
Gold approaches 2000 again. But it looks like Gold could reject 2000 again. The last time when Gold reach the 2000 level (and breached it slightly by forming a new high of 2008) the price retraced down to the 61.8% fib level, which was 1940 price area. A confirmation of a stronger retracement to the downside would be signaled if the price trades below the 1977...
FOMC data dose not in favoure of us dollar index we have seen a sudden rise during this time. i am expecting here more rise and price will create double top structure around 2010 zone and then may drop down
After a sharp decline on Tuesday, Gold is now balancing slightly above our 38,2% retracement on the Fibonacci. Given that we have the Fed rate announcement on Wednesday evening, we will take a cautious approach and wait for the decision first, before getting comfortable with either of the short-term directional moves. From the technical perspective, a break below...
Gold retraced strongly following the move to the 2000 price level. Forming a head and shoulder pattern, Gold traded down to the 1938 price level which coincides with the 61.8% Fibonacci retracement price level The next directional move on Gold is going to be highly dependent on the volatility of the DXY, especially with the FOMC interest rate decision due. In...
21st March (might not be alot of trading opportunities) DXY consolidating possible breakout down to 103 NZDUSD: too late, no trade AUDUSD: buy above 0.67 SL 20 TP 20 (small trade) USDJPY: break 131.50 SL 40 TP 80 GBPUSD: retrace down to 1.22 EURUSD: likely to up to 1.0760 but not great RR trade USDCHF: sell below 0.9280 SL 20 TP 40 USDCAD: watch video...
During the trading session yesterday, Gold broke above the round number level of 2000 to reach a high of 2009.55. However, the move higher was brief as Gold quickly retraced to consolidate along the 1982 price level. Further upside is anticipated for Gold if the price stays above the support level of 1960 which coincides with the 38.20% Fibonacci retracement...
20th March DXY retest bearish trendline, down to 103.50 NZDUSD: Buy 0.6260 SL 25 TP 50 AUDUSD: buy above 0.6735 SL 20 TP 40 (later than NZDUSD) USDJPY: below 130.60 SL 30 TP 60 (quick) GBPUSD: Buy break of 1.22 SL 80 TP 160 (BOE Decision Thursday) EURUSD: Buying above 1.7 SL 20 TP 100 (trailing stop loss) GBPJPY: buy from bounce of support 159.00 SL 50 TP...
Gold traded significantly higher last week, due to several key events; 1) gross market uncertainty increased as banks collapse (SVB and Credit Suisse). 2) flight toward the reserve commodity 3) weakness in the DXY Currently, the price is retracing and is trading along the 1973 price level, with further downside expected. The price is likely to test the support...
Looking at the Goldman Sachs Commodity Index and how the prices went up dramatically from the Covid lockdown, i would say that there is still room for a final rally, before a major correction in 2024. The chart is self-explanatory. Looking forward to read your opinion about this.
Hi everyone, today I want to update the 🗺️Gold road map🗺️. It is better to look at the previous roadmap that I published on Feb 7 in the 8-hour time frame. (Gold is moving ✅well,✅ according to the analysis).👇 Now we have to look for the end of the main wave 5.🧐 The end of wave 5 will most likely be in the 🔴resistance zone($2,114.9-$2,062.7)🔴 and 🟡Time...
Hi, this is my new update for Silver. This week we got a big green weekly candle (+10%). We lost a big support level 2 weeks ago around 21.50$ and now we are above it again, I think that was beautiful bear trap. Right now we have smashed all daily and weekly moving averages and we are getting back the bullish momentum on daily chart. Another thing that is bullish...
XAUUSD is at the start of a new long term bullish wave as per the MACD (1d). At the same time this suggests that a short term pull back is possible with the MA50 (1d) a standard Support level during uptrends. Trading Plan: 1. Sell on the current market price. Targets: 1. 1880 (over the MA5 1d and rough -3.40% as per November. Tips: 1. The MA100 (1d) provided...
Silver made strong and impulsive rally since September 2022 till February 2023. A sharp drop in February from 24.50 and break below 22.50 supports suggests that metal is in a higher degree correction. That’s quite strong decline, but due to a five-wave rally earlier, we still see it as part of a complex sharp W-X-Y correction with the support here in the 61,8% -...
WTI Crude Oil hit Support Zone (1) and is rebounding. The pattern has been extremely steady since November and Support Zone (1) has delivered 5 rallies of at least +9.50% each. Trading Plan: 1. Buy on the current market price. 2. Buy near Support (2). Targets: 1. 80.00 (near Resistance Zone 1). 2. 77.50 (mid level structure). Tips: 1. The RSI (4h) is on a...
Been a while since crude futures were reviewed, and since the last post, crude categorically dropped... but it maintained a decent range between 70-80/82. The thing about crude now is that it appears to be coiling and is starting to show signs of a break out. Here is how I see it... the candlestick pattern (especially in the Daily chart, not shown here) is...
OANDA:XAGUSD Paper trading things like silver and gold are a total joke. You who trade paper shares are trading in mostly fake, extremely diluted, worthless shares. Your paper certificate is diluted somewhere on a ratio of 900 paper shares to every actual physical once of silver. Soon enough, actual silver will decouple itself from these made up paper shares....