UJ at key support area my analysis shows retest to 107.600 and 109.800 is possible
Contrary to my previous analysis UJ price has broken bull structure on daily view. 4H sell structure still intact so my bias is bearish UJ could test 104.600 or further down to 101.800
2 different gold bullish setup either retesting upper or lower trendline before heading up to at least 1570. Ideally I like to see gold testing lower trendline but considering how bullish it is may not happen
bottom of trendline broke mini trend to downside showing signs of reversal
Gold showing signs of exhaustion broke mini trend to upside
Here I present 2 different scenarios, I favour scenario 2 on the deep pull back but I cannot ignore the fact price can break resistance due to strength of bulls
Gold Reversal around 1361 or 1374 looking to sell from top of ascending trendline to the bottom trendline. Recommendation: Look for short buy opportunities in lower timeframe Monitor this pair over next week, potential sell opportunity may arise late next week
I have been told that this pair will be a sell but according to my analysis it is not that straight forward. Price is at my 50% line where price can either rebound off the support for a buy or break it for a sell. I will be wary of a sell as price is still ranging in an ascending channel = buy bias Summary: 1) Ascending channel still valid 2) Price approaching...
1) Weekly Support tested twice 2) Still in Daily downtrend was broken once I fully expect price to break to upside enter on below resistance or await breakout
1) Price has respected bottom trendline twice 2) Strong support and potential reversal area according to daily view @ 1.7400 - 1.73850 Good consideration for a buy
1) Strong resistance present @ 1295 2) Price within descending channel = bearish bias Entry: 1295 Stop loss: 1304 Take profit: 1261
1) Strong support present @ 109.050 2) Daily trend line respected previously Entry: CMP or 109.050 Stop loss: 108.000 Take Profit: 114.300
1) 4H upward trend has already been broken 2) Price has hit top of a slight ascending weekly channel 3) Currently at a strong weekly resistance level I expect price will head down from 1.72000 or CMP Take profit: 1.63850, 1.58750 Stop Loss: 1.73000
1) Weekly ascending channel = bullish bias 2) Tested strong support with engulfing bullish candles on daily and weekly time frames this further confirms my bullish bias 3) May consolidate most of coming trade week (27/5 - 31/5), fully expecting price to short to the downside before the eventual bullish move First entry is always my preferred entry @ 1.49250...
1) Daily Trend 2) Strong support & reversal area @ 1243 3) Take profit: 1295, 1345 4) Stop loss @ 1233
1) Price broke upward trend 2) Retesting trendline and strong resistance Good consideration for sell @ CMP