With the higher timeframes all being bearish, it would make most sense to be looking for sells, especially on the lower timeframes as we do not want to be fighting the trend unless we look on a smaller timeframe. Should we see price close below our key area of support at 1881.9 then I will look for a retest of this level where we can take a sell-limit and aim for...
Another week of more bearish price action. All in all it was a good week for trading with no losses being taken and successful trades (all have been reviewed and broken down here) So with price closing below another key area of support, the expectation is going into the final week and a half of August price should continue down with little to no support...
overall compared to last friday not much has changed on the daily timeframe. We have a weak bullish candle print to close the week off, despite a pump from the news released on Friday price continued to make it's way down and overall the target remains the same as what we saw on the weekly, expecting a liquidity grab at 1870 before price bounces and moves back up....
Another bearish week, another closure below a key level on the weekly. The close below 1917.318 is key because this was a previous level of support when looking back over the past 3 years. With this in mind, when we have seen the weekly candle close below this level there is a high probability of price driving down to 1873, with some resistance at the 1900 level...
Looking at further sells predominantly on the 5 minute timeframe, easy scalp for 10-20 pips with stop loss greater than the current range. Previous trade we got stopped out at break even so this could be a second try at price making its way out of the range towards the next level.
Looking for a quick scalp as gold continues to trend down during London session, sell stop set at the level indicated in the chart 1930.268 and we will ride this down ideally towards 1928, Stop loss will be the most recent high.
Thursday was one of those days, nothing but ranging which was to be expected given NFP tomorrow and the major moves being earlier this week. To keep this short and sweet - I still expect price top continue down, however, first we need to see a liquidity grab to the upside because we can continue going down. Overall swing bias is sells. Sell sell sell. 1900...
Historically, whenever price has rejected the red zone price has continued down towards the 1800 level, so we continue to anticipate the weekly candle price action to continue down. The only obstacle may be NFP this week, however outside of that expectations are for gold to continue down.
Despite gold closing bullish for the month of July, Price action indicates bears are still in control and there are opportunities for swing-sells The reason for this is due to the fact that the 1970-1990 levels were rejected in the month, showing strong resistance is still intact and we can anticipate the support created at the 1900 level to be broken for a...
Based on price action and the 1h timeframe rejecting the 1960-1962 level as mentioned in the daily breakdown, I am anticipating sells. we have the 4h candle close coming up in 40 minutes so based on how that moves we can expect to react based on that. No news today so we don't need to worry about news impacting price unless it's something not on the financial...
Moving down from the Daily time frame we can see 2 major levels of support with a minor level of support at 1924. I don't believe price will have much of an issue getting through this price, however time will tell. My overall gameplan will be looking for sells if we can close below 1939 with Price Action telling us in the past that 1900 would be the next logical...
Now that FOMC and Unemployment claims for the USD is done, we can see price action a lot more clearly. Things to note Daily broke yesterdays high and flipped bearish Weekly created a weekly high and flipped bearish (did not break the previous weeks high however that isn't a major issue) 4h has closed back into our indecision range Few things can happen...
Looking at the timeframe on a daily basis we can see that we have closed below a key level and into an indecisive range. The reason why indecisive ranges are tricky is down to the fact support/resistance can be anywhere due to the historical price action, there is no clear support/resistance where we can anticipate buys or sells, so treading carefully is the...
Looking at sells on the 1h timeframe - this is within the range we spoke about, however! the reason why sells are now possible is due to the news having passed, and with this new 1h candle we have seen price create a nice steep top wick, where if we can have a 5m closure below 1959.2 price should continue down.
Officially into London session and into the NY Open 4h candle. We are currently just above an indecisive range where unless we get a high amount of volume, it's best to avoid taking trades as it means we can avoid being faked-out and be stuck in a trade that won't hit our TP or SL until we get a push in volume. ideally, we clear this range and once that's done,...
The breakdown of the higher timeframes continue, now onto the 4 hour timeframe. What we can see is whenever price closes below our sell level, price tends to continue down to our target level. White arrow shows our most likely price action path.
Looking at the daily timeframe, we can see after the prior weeks push to the 1980's, price rejected this level many times before and bounced within the range of 1980-1939, this would be the most likely level where we can see price continue to on the daily timeframe should a bearish trajectory continue.