With price currently in a bearish trend on the daily timeframe I am personally looking for buys here. It has been an aggressive sell off so far this week, I am expecting price to go back up and retest the 2050 levels and looking to get a piece of the action on the way up.
As gold approaches our level where we look for the candle on the 5m candle to close we are anticipating sells to be taken here with the possibility of 1930 being tapped as a potential TP This is a scalp so as always fast and aggressive take profit will be done
Looking at gold on the weekly timeframe it's clear to see that price typically finds very strong support from the 1900 price area, looking at this, we can expect price to continue down towards this level before rejecting and hopefully giving a bounce towards the mid 1900's (higher than where we are right now at the very least!) Overall bias on gold is bearish,...
Currently looking at taking sells once the current 5m candle closes below the marked level, with this we will be trailing stops and taking partials as soon as we hit 10 pips+ profit Last nights trade was a similar concept however it was to the buy side, so we will be looking to take advantage of these micro moves once again
Taking buy scalps based on a strong push to the upside on gold as well as the fact that we are seeing a close on the 5m and 15m timeframes closing above the marked level As price moves up we will be trailing stop loss and taking partial position profits at 10+ pips.
Looking for gold buys or sells depending on where the FIVE MINUTE candle closes respective of the levels marked in the chart Gold has seen a strong push to the upside and I don't believe it's completely exhausted yet. However, that does not mean price action won't play out on smaller timeframes.
This is why I love and talk about price action so much. Gold has given us an absolute gift of a level with such a repetitive history it would be foolish to not take note! The white circles highlight areas where the 4h candle has closed above the level and pushed up towards 1967. If we can see a 4h candle close above this level, move down to grab liquidity with a...
Friday NFP saw the daily candle close in a very weird spot. 1. it started as a very bullish candle and turned doji 2. it closed within the range 3. despite being a doji it created a support with the previous daily bearish candle. Is this significant? I don't think so. not yet. Monday's daily candle will tell us everything we need to know, especially as we will...
Monthly chart shows one thing. STRONG rejection. And where there's a strong rejection, there's a chance of a price reversal. How does this coincide with what we are looking for? Well, August monthly candle did not have a top wick. If we can get a top wick created for the previous months candle then September SHOULD see a sell off going into the end of 2023....
So far this week price action has been very slow, with the only movement coming in as a reaction from news and little else happening inbetween. We are at a key level where Gold either makes or breaks it's August and september start with core PCE news today, and NFP tomorrow. The main thing to look out for today is a liquidity grab, which are levels marked in...
Gold has reversed and is current in a bullish trend, however we are reaching areas where we have seen strong areas of rejection AKA ranges where gold tends to get stuck within Due to this I'd be cautious with swing trades, but I am very much so looking for trades on the lower timeframs
And sure enough Price action did exactly what we were looking for price action to do. Typically I would move stops to break even and take partial profits here, however due to the fact I am taking a reduced lot size (0.01 lots as I am currently testing the trading style out) I will move stops to breakever at our BE line (1909) But I hope this was an educational...
THIS IS NOT A TRADE TO TAKE - IT IS PURELY FOR EDUCATIONAL PURPOSES FOR MYSELF Looking at previous price action and PA mimicking it, I'm looking to take a 0.01 lot sell limit here at the level marker at 1912.5 so that we can assume price will continue down after grabbing liquidity Price closed below a level, rejective off of 1904 as it has done previously so...
Similar to yesterdays scalp idea, buys here look good should we see price close above our level. Be cautious of Powell speaking and revise Prelim UoM which may effect the USD, but other than that if we can see price action play out around our level we are good to take buys from there.
Currently looking for buys on the smaller timeframes, a quick scalp for 10-30 pips is achievable with proper risk management. Looks to be a significant chance for price to push up.
The 4h analysis we did earlier this week before market opened saw price action play out absolutely perfectly following our arrow path of breakout - retest - push to the upside and now a complete shift in sentiment to bullish. From here we can anticipate price to continue upwards with a bullish bias and look for buys if swing trading.
Hello everyone, looking at the daily timeframe we can see gold has picked up volatility below 1890 with a strong rejection back into the 1900's Should we see price hold and not reject key levels of resistance, expectation will be for gold to return to the range we have previous seen gold stuck within, with a push to 2000 creating a top wick for the monthly candle...
And with that last post, here is the breakdown of the trade we were expecting. Price action moved nicely going into the close of the 4h candle. Overall it was correct analysis, congratulations to those that followed.