Hey Everyone,
Check out this analysis for the Pound Dollar on the Monthly Timeframe. This is going to be a very profitable trade.
If you want to take this trade with me, join my FREE Telegram Group: t.me
For Gold, I do see an opportunity to short on the 4H timeframe.
The Support Zones are based upon weekly support and resistance, so with this trade you are planning on holding it for a while.
I'm looking for price to push up to the 1488 zone and then spike down to around 1450.00
Remember that Gold is an emotional commodity, so it could blast through 1488 if...
Scenario 1: We could see a retest on the daily trend line and a retest of the weekly support to the price of 123.000.
Scenario 2: (The Trade I'm currently in): See a retest to the Daily Trend line and price breaking to the weekly support line.
This is a long term swing trade.
We need to see strength in the JPY for this short to take effect.
