Gold has wicked to target previous traders stop losses who went long on gold as shown on the 4 hours.
followed by a close above previous support indicating a nice bullish move to the upside
Strong engulfer formed on the one hour timeframe paired with a triple bottom
Gold may rise slightly more put I still have a short bias on gold
Nice rejections forming on the 15min for the first entry
if Gold gets to 1860 will be looking for a re entry
Gold is currently around key level and looking for it to continue it's momentum to the downside
Feel free to message me @FalakTrader for full analysis
The first entry we took got stopped out due to Corona virus vaccines news.
Now that news has taken affect we are going to re attempt shorting gold .
Gold has hit key structure and using the move up which has drew traders long to be the catalyst for Gold to start melting.
Gold has pulled back hitting traders stop losses looking for a move to the downside with Gold as it has hit traders stop losses who were previous shorting Gold .
Secret Analysis technique used feel free to message me @FalakTrader
Gold has reached to key 4HR structure and looking for an impulse to the downside after a retracment.
If price gets to around 1915 will be looking to add another entry.
There are private confluences which I have not mentioned but have a high success rate
Any questions feel free to message me on Trading View @FalakTrader
Weekly/Monthly resistance. Expecting a nice retracment to the downside, however the market makers know people are looking/shorting Gold therefore Market Manipulation is a high probability before we can see a nice 300pip retracment.
EUR/USD currently at a key price range. Following the rejecting of the level from lower timeframes indicates a reversal of trend. If we do not see some nice buying momentum soon we will be exiting the trade. Trade Safe Traders!