Dear traders, as I have already told you in my previous major trend analysis idea (see related ideas) that we have just come across a major reversal on the XAUUSD, our favorite metal. Breaking lower from a 122 weeks Darvas box and 115 major support region between 1680-95, we are not looking for long entries. Although the break and retest of the 1680-95 region...
The $index has been in a bullish continuation trend for over ten years now ever since that reversal Bullish bat pattern completion back in 2011 as an effort to recover USD and US economy from the 2008 recession. We have witnessed some 6 year long price consolidation between 2016 and 2022 (Darvas Box 1) after the price made the first top of the box at 104 back in...
We are at a point in the market where it must decide about the direction of the trend before we could make a decision to either go short or go long. DXY was pounding a yearly high when Flash services PMI came out, not so much in favor of USD, yesterday. Hence, we witnessed a bounce from the yearly high. Now there are two possibilities we must consider before we...
The trend, by far, remains bearish! However, there are certain levels we might wanna keep track of, in order to always have a better idea of possible Gold targets. For now, we see a struggling bullish engulfing on the last daily candle on last Friday (09-02-2020) which might imply to the possible pending correction. In order to look for correction targets we stick...
It is paramount that you look related ideas in combination with this idea to understand it fully. We have run into a price consolidation region on Gold price chart. it could possibly be a bearish flag but we need to break lower than the consolidation zone for confirmation. But, if we break higher than here, we are looking forwards to 0.382 monthly Fibonacci...
This idea is the detailed explanation of my previous idea about XAGUSD (see related ideas). Although my chart is self explanatory with all the captions but I would like to elaborate a little more in this text. We just recently broke out of the accumulating descending triangle come bearish reversal a few months ago and heading towards the previous support levels....
Considering CPI data, USD continues to grow strong even today with a drastic break low of the consolidating rising wedge, invalidating the possible double bottoms from earlier. We are also expecting a new interest rate hike on 21rst September 2022 FOMC meeting, as already hinted by Powell. Now the picture that follows suggests the continued bearish trend for the...
I hope you guys enjoyed my previous Ideas about gold :-) Here is what I think today about it: 1- The targets from my previous analysis (related ideas) have been achieved, now we need a daily or at least a H4 candle starting below 1709 level to see 1680 again. 2- Upper targets include a corrective wave to 1739-65 if we break higher than 1730. If we break higher...
Have we run into a cup and handle on the yellow metal? It appeared closing in on a bullish breakout near 1772 but appears to be getting clean rejected from the upper limit. It is very likely we will break through 1728 this time after we are through the 1750-55 region opening way for a clean 350-400 pips for bears between the range 1720-1709. Also there is a...
As proclaimed in my previous idea (see related ideas) that we have come across a cup and handle which was confirmed by a clear break low in form of a huge daily bearish engulfing. Looking at the end of the Friday candle and the weekly closed near the weekly low price, we now have a further confirmation to sell xauusd through this "Falling three method" candlestick...
As I elaborated in my previous idea regarding precious metal silver (see related idea) that tide is bearish for sure. We are witnessing a complete subjugation of the silver metal price to the USD. It tried to retest the last support region starting at 21.10 but miserably failed giving out an outrageous weekly bearish engulfing like Gold. What we are expecting is...
In my last idea about DXY (see related ideas), I proclaimed that we might have the possibility of the formation of AB=CD pattern owing the accumulating Falling wedge. But we had a variable of point C in AB=CD, we did not know where/when it might appear. After the false break low on Friday and the rejection from bottom it turned out to be a perfect hammer on Daily...
Alright guy, what I am trying to imply here is the possibility of the formation of a "Falling Wedge" bullish continuation pattern. If that is to happen, we shall continue to see bulls over-powering bears and following the design of an AB=CD pattern. If that is to happen we will see the breakout to D point but until that breakout occurs we wait otherwise we...
XAUUSD has been bearish for quite a few months now and there are chances it would keep it that way, here are my reasons: 1- Rejection from the upper channel like from 1800s contributing to huge weekly bearish engulfing last week terminating the bullish sentiments of the market (I thought it has broken high as well but it did not) 2- The target on the channel's...
I do not usually publish intraday signals but I cannot help but notice that rising wedge aiding to correct lower frames. Best of luck! I know it is not that comprehensive but we should be expecting 1720 and lower.
We are through the point when The Federal Reserve was giving it a break to the strengthening USD, lower support remained intact at 104.6. As told by Powell, they are going to hike rates on public debt one last time during the September FOMC for the year 2022. Well, the market is responding to the very hint of it. Retailers have switched to long shots on DXY and...
Alright guys, I know I have told you guys to buy in my previous idea but the circumstances prevailed that I take back my word on that one. What we are looking at is a rounding top pattern on gold which is targeting lower to 1720-1734. Besides, the bulls are having a huge setback with that huge weekly rejection at the moment. I no longer confide in the upward...
"There is a time to go short, a time to go long and a time to go fishing" As the end of year approaches, we see an ease in the aggression of the commitment of the federal reserve to strengthen USD. They have to, a currency getting too strong too sudden is not a good omen for the country itself on a macro level. Inflation is a turmoil we get to see today and as...