I'm expecting price to return to the long term descending channel as there is a lot of liquidity there for the taking.
I expect this to happen via the channel breaking (wiping out stop losses) then price to continue downward. I have a trade idea already generated before price even reaches that destination, so when it does I am fully prepared for any...
a lot of you ask me what is next with oil .
we caught some pips ob a recent pullback from support and currently, I don't have any active position.
The reason is simple: it looks very very vague.
Let me explain to you why!
First, look at the daily.
Currently, the market is retesting the recent structure low...
after a strong bullish movement that we saw at the beginning of January gold corrects itself.
On 4H the market has set a sequence of lower lows and lower highs
and currently, it is entering within a peculiar area from where we can expect a bearish continuation.
for confirmation of our predictions, I am...
silver reached an important resistance level
and currently, the price is attempting to break below the rising wedge formation.
I feel the unwillingness of buyers to push higher at the moment.
in case of a 4H candle close below the support of the wedge , the price will most likely drop to 17.91 / 17.76 levels
a lot of followers have asked about my thoughts on WTI and when can we expect a pullback after a selling rally.
currently, I still have a short trade active from 63.0 level BUT
the market has finally reached first strong structure support and analyzing a price action it looks like
indeed selling volumes are...
silver is standing on a strong support level for quite a while.
It looks like finally ice breaks and bulls are attempting to break above the indecision horizontal range.
for us, it will be a perfect signal to buy the market.
so let the price close above the range and buy the market...
I hope you are ready for the new trading year!
I am still on vacation and celebrating Orthodox Christmas today
but a lot of followers are very scared because of recent fluctuations and gold and ask me to clarify the situation.
The beginning of January turned to be very impulsive for many financial...
I was asked a lot to give you an update for gold .
since my last post we see just minor changes:
currently, the price is coiling within an expanding wedge pattern.
I believe that we will see a new higher high with the wedge soon.
But remember that 1482 - 1486 is a strong zone of supply
and we will anticipate...
gold is still perfectly respecting the boundaries of a rising channel .
yesterday was a rollercoaster day and gold has spiked up and immediately dropped down to a channel's support.
My bias now is bullish and I believe that the market should reach at least 1476 level
and potentially set a new higher high...
looks like consolidation on gold proceeds.
1455 - 1460 is the area on my radar,
it looks like the market is forming a bearish flag pattern
and we can expect one more higher low formation and further consolidation within a channel.
Let's see how it unfolds this week!
*for now, I don't have any...
we caught very nice profit on gold this week following my trading plan.
yesterday the market has broken and closed above a key structure resistance
and I believe that bulls will push the market even further!
Next target levels are
1492 and 1508
GOLD is steadily coming closer and closer to month's low.
I will be waiting for a reversal formation within the underlined orange area to buy the market
Stop will be strictly below the zone.
Target levels will be 1458.0 / 1466.0
gold is going up following the recently posted trading plan.
market is coming closer and closer to the first strong level of resistance
and we can expect some retracement from the underlined zone.
our potential reversal zone is 1484 - 1488 area.
Look for a signal inside this area to short the market.
October was phenomenally good for WTI oil trading.
My last target for the long trade is lying on 60 level.
Those who are looking for a short trade,
focus on 60 - 61 resistance area .
this area was respected multiple times by the market in the past
and, in my view, it is the safest zone to sell.
for now, it looks...
though I have bought gold from 1460 and have already taken profit from the trade,
I still believe that the price may grow to the 1480 level.
Currently, the market is back again trading above the recently broken structure level!
it is a very good indicator of a false structure breakout so with quite high...
I was asked a lot to post some updates on gold .
Currently, I don't see any good opportunities for entry.
It looks like bears will keep pushing the market lower.
The first area of support on focus will be around 1435 level.
This area is based on the rising trendline on a weekly
+ 1.272 extensions of the...