very very peculiar sentiment on gold .
if we precisely analyze the price action from the beginning of summer,
we will notice with you that the market was trading in a sharp bullish trend
and, what is crucially important, without correction.
From September, however, the picture has started to change.
Though USDCAD is very chaotic in the last few days
yesterday we saw a very strong bullish impulse
breaking the resistance line of a falling channel and setting a new higher high higher close.
however, I am very very skeptical about further bullish continuation of the pair.
analyzing structure on 4H and daily...
EURGBP is currently trading within the rising parallel channel .
What is worth paying our attention to is recent rejection from 0.893.
It looks like sellers accumulate their selling positions around this level.
based on this observation and horizontal structure on the left I have
identified a potential...
after a very good long trade that we have taken this week, it is time to adjust our trading plan.
Next week I will be paying close attention to a rising wedge pattern that can be easily identified on 1h and 4h charts.
On Friday the market has closed approaching a support line of the wedge .
Most likely buyers...
USDCAD has climbed back up to daily resistance and is now starting to reject, this is a nice price action setup. I have a free telegram channel where I will be posting my trades for the week. DM me if you want to make some extra money.
We should be looking for sell opportunities as EURNZD has rejected the daily supply zone and has made a significant move to the downside so far. We approximately another 650 pips to go until we reach the next strong daily demand zone. Play it safe and trade the trend by looking for selling opportunities for a better risk;reward trades.
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