taking this trade and looking at only the DXY with this trade but with how corrective the structure has been over the years im sure this will see some strong impulsive movement to start this trade i will be waiting for that structure touch and then i will enter this trade can this move lower well of course it can but if you're risking correctly this shouldn't be an issue
so now the DXY is within a really strong area but this is really strong as seen with this bullish movement can this just push above and hover for awhile yes i think so, so just wait for the first move to play out but this could be key across the board with the dollar pairs
so as seen here this does not confirm yet that this can move higher but looking at the current price with how we broke and now retesting this area with a small hover running on that trend i'm going to set my entry just above as seen so if this does not play out then i'm not in the trade i prefer this type of entire i will be now waiting for another breakout soon
so this was playing with peoples emotions this so very common keeps dropping then rising and then we eventually starts so i will be now wait for a few things to happen to now confirm this continuation we need to now wait for either a few things to happen iv posted them on the breakdown !!
we don't need to come back and retest this level just wait for continuation...
so as seen with the EUR this will be a big decider on what happens next with this pair as the DXY is getting into a key value area as the same with this current pair this will be very interesting on what happens next either way anything can happen just be open and neutral but this is looking very nice at the moment!
so kept this clean as you can see how current price is after breaking this daily trend and price has re tested this area i will now wait for the first drop and wait for more continuation before placing my order be patience and wait for the right time!
so this is looking interesting weekly time frame looks very nice and looking at the current price action this is looking more likely to drop very soon, on the lower time frames price is coming to a big double top area but being aware this can move higher as seen but understanding this could go early with how this is showing at the moment
keep your eyes on this!
after just breaking a double top area and re grabbing a few more orders i will now wait to see if we break this trend and then wait for confirmation for either a bearish breakout or breaking new Lows then i will be interested keep your eyes on this!
so as seen this could now rise from this double bottom area as this has been tested a few times or we break and still have more bearish movement but the better high value area would be on the 2nd support level that would be the better long
but understanding this doesn't have to get there!
so this is coming to a key level now just taking a looking at price 2 ways this could go we either rejection soon for that 3rd touch and drop or just push a bit higher for the better trading setup at the outer structure as you can see here this would be the better trade but understanding this could just break above and drop straight out lets see
been watching this for some time now i will expect another big rise soon once we have corrected pushing price out of that zone that is marked
you can buy in this zone but expect some pull backs within it!!
after breaking a double top and getting some good bearish momentum and breaking a new trend i will now wait for either a retest or the counter trend IE flag or wedge to confirm my next move or we reject from any fib levels still has some nice RRR in this trade
just wait for the right time don't rush a trade!
now as we know the higher time frames show more direction with price this at some point will have some great buying power eventually but being aware this can still drop lower to areas i would say around 1.08803 but my overall bias is long but still has room to drop before the long term buy with this pair!
but i could be completely room and we just tank down but...
so as you can see price has broken out from its corrective structure but is going to be testing another area as price might see some pulls back from but my overall bias for the future is for gold to eventually reach them last testing areas as marked but we might not get this with impulsive movements
this pair is looking very clean with how price action has devolved, key for this trade is how the momentum has changed direction now can this go lower yes course it can but this isn't fair away from the outer structure be aware of that but this could be a nice long play with this trade and filter the lower time frames for any key overrides this is showing more as...
so just looking at the current price action with gold and this looks to be hitting a support zone this is why we're bouncing but we have broken new Lows, this doesn't mean we 100% have to drop but this looks more likely to fall before the rising again this is a little breakdown on what i see could happen with gold always have 2 outcomes this wont come as a shock...