Hi To All,
This is my first time publishing my ideas so basically market test the area 1930.37 my analysis shows that the market after retesting it can go to 1968 .
i can't guarantee that it will go , but there is an assumption that it can go to the 1968 level
On 22 may take trade on gold as marked but unluckily my trailing sl hit and go to my target.
i dont take trade after hitting my trailing sl aggressively.
now i want to capture a move so i try to take on poi zones on buy side..with small sl
gold looks like uptrend starts but not sure about it..
Gold is technically bullish due to use only its fell down...
Analysis 1
M pattern in 4H and 75% Traget only done...so that (a)2019-2022(if here retracement 1980 is the trg)or (b)2030-2034.5(if here is the retracement huge fall will be happen)...bcz below 1960 has major support...
(a)Sell stop @2009 USE SMALL LOT
Trg 2000/1990/1980
Buy stop 2023 (no sl) Double...
Unluckily cant perticipate on gold pump and dump due to interest rate hike news on fed rate 25bps increase.
two entries missed gold cross its highest level but cant stay give a pullback as reason to take out inducement
marked high probability buying zones
Reason For Bullish
1. RSI 14 Above 50 and tends the Market Trend Continuation In 1h
2. Stochastic Oscillator Oversold and ready to Move above 20 and Pushesh Higher High
3. Three Black Crows Formation Indicates Bullish formation
All the levels are drawn in the chart; please look at them.
Gold is in a channel, and it respects the lower channel and price-taking support and bounce.
Price need to sustain the channel.
Be cautious of trade today as it could be highly volatile environment due to different news today .
Gold is forming bullish penant , if broken could lead gold to 2028 -30 levels before a correction.
Happy trading , look for stop loss hunts due to great volume today.
Gold latest move in 1 hr time frame may breakout from symmetrical triangle and reach to 2005- 2012 📈 range before falling down . But if broken previous week high at 2015 may lead to test resistance at 2020. If not broken symmetrical triangle can lead to 1950-1960 📉 support range and will also broke the daily bear flag which will give the confirmation for further...
Today, I will look at GOLD which has given us quite interesting Price Action. I will be looking for BULLISH move.
DISCLAMER
Am not a financial adviser, I just posted this analysis based on my market understanding.
Risk Management is important.
Greetings traders, I have valuable information to share with you ♥
Historically, January and August have been the most profitable months for gold, but in the past 25 years, March has consistently been the least profitable. The recent increase in gold prices can be attributed to a decrease in USD and yields after a significant shift in Fed rates. However, the...
It formed a W on a daily chart , so now we can see the reversal or it may go up again to make ATH near 2100 range before coming down.
Let's see what next week holds for us .
Happy Trading
Good luck
We can see the gold the retesting the yesterday high's again , it may be just a bull trap before dropping to test the HKEX:2000 on the daily bear flag or dropping below that can swing the reversal to supports at TSE:1980 and then $1950. It can form the M here or if it broken can test ath of TSE:2070 which is much less likely as it may go to test ...
