Price has broken out of this falling wedge formation on the daily timeframe (bullish pattern) now on the 4H we can see a retracement into a very interesting area, (50EMA, 38.2 fib level and structure zone) if we can get this nice bullish candlestick i will go long.
We have been ranging since London session yesterday with very little volume. We have three options for gold volume permitting.
If we break above the range we have been stuck in, we can look for a potential wickfill which would be 30 pips, however that is a risky move. Safer buys would be if we break resistance at 1933. We have clean traffic to the left and we can...
We are in a very important area with Gold right now. Gold is currently trading in a 80 pip range, trading in the range is not recommended.
If gold breaks resistance, there is a very high chance that we will go long to test the zone at 1932-34, the reason being that this is a key zone on the 30m, 1h, 4h and daily timeframes, and it has been respected for two...
After taking sells where we banked 90 pips, price broke above the range highlighted on the analysis last night.
Instead of waiting for support to form, I waited for a retest and entered on the retest, so this was effectively a break and retest entry.
As price reached the first target, I secured my entry and moved stops to BE.
Price then reached my next target...
We had highlighted already that we would look for sells if we broke below 1900.
Price broke below 1900, and before executing sells, we waited for resistance to form on lower timeframes, in this case the 15m timeframe. When price then broke the low of the previous 15m candle, after already forming resistance, we executed sells, with stops above the high of the...
Gold has just gapped up on market open.
1) If we close above 1904.26, buys can be executed on lower risk if we form a support on lower timeframes, we could potentially target 1908 before targeting 1912.
2) If we close below 1900, and form resistance on lower timeframes, we can look to ride price back down to support at 1891, giving us almost 100 pips.
We are trading below resistance at 1898, a break of this level could see us long back up to 1905. I have highlighted a potential barrier along the way in the form of a resistance, however if there is enough volume, we can break that level. For buys to be valid, we need to form support above resistance. I am not looking for sells as I do not like the ranges to the...
Long from my green support zone that's marked on the chart.
A nice simple setup with not much explanation needed at all.
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