I feel there will be a further pullback upon market open, smashing through the 1483 psychological barrier ultimatley finding resistance at the 1425 area.
This is where I will take profit and see how the market reacts.
My gut feeling is that this area will coincide with high impact news on Wednesday creating a bullish market which will oush us up to the highs...
Trade talks have seemingly calmed down at the moment, 1480 is a big psychological number i believe would needed to be reached to begin following the bullish uptrend. That being said, if that trend line is broken we may see a bit SHORT to 1430.
Nice liquidity zone and resistance forming at this level.
Looking for price to drop back down from here with 2x profit target levels at various points.
I will keep my stop loss way above the wicks and liquidity zone at this level.
XAUUSD, Downtrend forming: Sell on H4.
- Structure: Downtrend forming on TOP
- Tendency: Downward
- Below resistance and 2 EMA
- Break, test resistance and confirmation
PLAN: As picture
- Sell: 1512
- TP: 1480
In the short term, the exchange rate can build up an accumulation area in the yellow rectangle shown in the figure. I put the bottom of this to usd 1469. I am expecting a 10% rise in this area. I consider this level to be the primary target price at US $ 1634. The currently developed movement path can also be a fractal path. This path is twice the size of the...
Gold - Intraday - We look to Buy a break of 1501 (stop at 1496)
Buying yesterday resulted in the sequence of 4 negative daily performances being broken. The medium-term bias remains bullish. The overnight dip has been bought into and there is scope for further bullish pressure going into this morning. A bullish reverse Head and Shoulders is...
Price currently retracing to the 17.50 which is the 200EMA, Daily S2/Weekly S1 and 68.5 fib level. Expecting a bounce up off these levels and move to between Daily R3/Weekly R1 at 19.20.
Long at 17.50 with target at the top of Weekly R1 at 19.20.