Even though the overall trend is bearish gold is presenting a 2 sided opportunity,on one hand we have a buy setup that just took off for short term traders this is a great day trade or scalp opportunity,seeing the double bottom we have in the 4H evident that this week we have failed to print lower lows for that bearish move ,An inverted head and shoulders can also...
July 26th i posted a long term bearish move on gold citing only technical supporting factors for my short play.
Gold since then has managed to drop nearly halfway to the target.Gold is a safe haven thus in times of global crisis investors buy it,but we cant always follow the crowd in these market especially the news..A majority of the news networks being owned by...
traders around the trading forums are speculating that we are out of the the bear market,it wouldnt be wise to conclude that just yet,worse off to start celebrating..technical analysis of the us30 which is as good as the SNP500 when analyized clearly indicates that we still have quite the roof to overcome before we can safely declare the market bullish again,,
JULY 22 i posted a USDCAD trade idea on TRADINGVIEW that is now playing pretty well and is already nearly 50 percent in profit,
do you think the current structure is good enough to trail stop and secure profits or do you see room for a correction and a further drop?
Being fully technical about this setup i would say prepare for a long term gold short
.the current 4hr timeframe bear trend is clear steming from the major double top on the daily
we can clearly see that we already have a break to the down side and a current upward move that is most likely gold retesting its breakout area
the retest has high chances of succeeding...
A beautiful short is setting up on USDCAD, that has the potenial for 300 pips in profitable bear movement
.,the 1.25000 level is a significant demand zone to watch out for if this breakout carries price that far below
despite the growing US inflation issue,EUR/USD according to it's current price is indicating possible new move to the upside that might put the pair back on a new bull trend,the current 1.08000area of support that Price is resting at is a historical level of importance that has had the Market reacting every single time it has reached the level over the months and years
