GreyTrades

GreyTrades

Sell at 1762 with a tight SL as shown on the graph and wait for price to fall back to the two key levels as shown. Since gold is still bearish especially after NFP, institutions have sold and are targeting the 1680 sellside liquidity. At this point I don't expect a move much below 1740 today since we don't have enough liquidity to go that low. In the case this...

GreyTrades

If price reaches 1776 during the asian session, look to enter into sells at this level, this is a fundamental level which bulls will want to see how gold reacts to, if gold has reached this level before the start of the NY session then you can expect financial institutions to begin entering into new gold shorts with the long term goal to reach the sell side...

GreyTrades

Gold is still extremely bearish due to bullish dollar sentiment because of the 3.5T fiscal stimulus package. This trade is a small scalp for the NY session whereby you enter the trade at 1753, and set your SL just below the previous peak at the top of the range since institutions will sell at the price. In the short term target 1736.8 however once the price drops...

GreyTrades

After yesterdays bullish move during the NY session, we see the pivot point for gold was reached implying there are some bulls returning back into the market after sellers began taking profit and covering some of their shorts. For todays forecast I believe we will have the formation of a head and shoulders pattern, note that the right side of a H+S pattern can be...

GreyTrades

This is the last day of thew trading month and also the last day of Q3, I have two trades active for today both with 4:1 risk reward. The first trade is a quick scalp to sell at 1742, with a tight stop loss set at 1744.5, with the TP set at 1736, this is to sell at a major point which needs touching along with gold also cooling down as some intraday trades decide...

GreyTrades

Let's take a macro view at the gold market and points of consideration when forecasting for Q4. As we approach the end of this month, today being the last day, we also approach the end of Q3. When considering the previous monthly and especially quarterly candles, it is not strange at all for these candles to make upper wicks before carrying on bearish, these upper...

GreyTrades

We have seen gold continue to print lower lows with the expectations of the FED beginning to taper being priced into the market since a stronger dollar is bearish for gold. There is also tremendous liquidity below the 1680 buying zone which is where gold is headed later this year. For now this idea shows a short term bullish scenario during the asian market, with...

GreyTrades

Since we saw that gold initially spiked after the FED announced that they weren't going to be tapering until 2023, this is fundamentally long term bearish for gold due to its property as an inflation hedge. However since there will be no tapering until 2023, this is short term bullish for gold, this is why markets initially responded to buying gold, short term...

GreyTrades

All details marked, having set a new high look for a reversal and target the liquidity below the daily low. Risk reward for TP1 is 3:1, for TP3 it is 6:1, excellent setup here!

GreyTrades

As updated from my last idea please remain short on gold until it reaches one of the two capture points. Either aggressively enter at the top of the entry zone, or wait for a lower point giving you better risk reward. The upper target is the highest point of the slowest bullish trend before any real bearish pressure would enter the market, the lower target remains...

GreyTrades

As shown to add sells when the previous bearish pressure was reached and gold was unable to push up to grab more liquidity, target TP1 safely since gold will need more liquidity before it reaches a higher high next week

GreyTrades

Wait for gold to go above the bearish 1705 resistance zone, when it begins to pullback then enter the trade, an aggressive entry would be 1708, you could always wait for confirmation once gold goes below the resistance zone and then retests the resistance zone for a bearish move downwards. Set your stoploss to just above the previous high as shown. Once gold is...

GreyTrades

The general overall trend for gold is bearish, in order for gold to make a deeper move lower more liquidity will be needed. Wait for gold to break out of the triangle pattern and then for a pullback to the smaller time frame resistance zone. Place entry as shown and target 1710 as a resistance point which should be retested as shown. Depending on the bullish...