GOLD ANALYSIS (15YO TRADER)WEEKLY- I set my timeframe to weekly so that I can set my area of support and resistance. and also to see what is the current market stage is and it is currently in its Distribution stage.
Daily- I set my Timeframe to daily so that I can start predicting what will or where will the market go. And based on my analysis the market is in its resistance and also on a downtrend. I can say that it continues and push lower.
4h- I set my timeframe to daily so that I can confirm my analysis on a daily timeframe, and it formed a descending triangle that indicates a high seller pressure. The triangle is formed just above its resistance and it might break soon.
I will put my short position after the market pushes lower and go back below its resistance. I will put my SL just a little bit higher so that I won't be stoped.
(not a Professional)
Forex-gold
Reasons to Buy Gold1) Good risk to reward ratio (1 to 4)
The price approached the strong support level of 1795 and a strong support line (there is an exact entry to open a trade)
2) The price has recently made a false breakout of support, this is a good buy signal.
A month ago, there was a false breakout of the resistance line, after which the price fell sharply.
3) The line and level of support 1795 are stronger than the resistance lines.
Since the support is on a higher timeframe.
4) trend is growing.
XAUUSD BULL TREND IN STRONG SUPPORThello
trend couldn't break the support and make a bull Candle.
so the trend will continue.(bull trend)
as you can see RSI goes to down but the candles is going up so are trend couln't go any further down , and a bull candle Confirmed it.
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Time to Buy GOLDThe price made a false breakout of the support level 1795 (an important level on the 1D timeframe) and started to grow.
But now the price is approaching the resistance line of the falling channel and + to the resistance line.
I think there will be a fall to the support level of 1795, after which there will be an increase to the level of 1915.
GOLD Running +4.4% gain - WHOS IN THE BUYS?Where you on the BUYS - or did you hit your SL?
NO TECH HERE! Simply follow the strategy which identifies a trend and prints a trade to follow!
What is our strategy?
Our strategy is a trend following strategy - that is coded in pine script to use with the trading view platform - the entries are shown automatically! NOTHING is done manually, it can be used on any instrument and time frame. However, we have hard coded specific parameters for when trading the H1 time frame, so we can back up over 4200 previous trades to confirm our edge from previous data. This gives us confidence in execution and belief in our trading strategy for the long term.
The strategy simply sits in your trading view, so you will see exactly what we see - the trade, entry price, SL and multiple TPs (although we hold until opposite trade as this is the most profitable longer term plan), lot size, etc.
This could be on your phone trading view app, or laptop of course.
The hard work is done, so we have zero chart work time, no analysis, no time front of the chart doing technical analysis - technical analysis is very subjective - you may see different things at different times - how do you have a rigid trading plan on a H&S shoulder pattern? Your daily routine, diet, sleep, exercise can affect what you 'see' and your decision making, this doesn't happen when a strategy is coded like this; what we do have is a mechanical trading strategy...
What does this mean?
It means, we are very clear on our entry and our exit and use strict risk management (this is built in - put in your account size, set your risk in % or fixed amount and it will tell you what lot size to trade!) so we have no ego with our position and we are comfortable with all outcomes - its simply just another trade. This free's our mindset from worry and anxiety as we take confidence from knowing our edge is there and also that we have used sensible risk management.
The strategy itself can be used as a live trading journal too!
EURUSD Tendency to riseWelcome Back.
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The euro is still heading to the upside, however it has a very strong resistance in front of it. As you can see in the past, three rebounds were not broken by the price, so if it does not break the next resistance it will fall according to the scenario that you set.
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NZDUSD It will break the trend line to the downsideWelcome Back.
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He took a rally in the previous period and he still needs to re-correct, so it is clear that he will break the trend line and will fall at the aforementioned support area.
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EURNZD Falling to the support area +130 PipsWelcome Back.
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The price is still bearish when it reached the support area and did not break, it will head towards the upside according to the scenario that you set, knowing that if it reached at the resistance, the direction may change from a downtrend to an upward trend.
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EURJPY It may trend upwards in the short term +60 PipsWelcome Back.
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In the event that the trend line is not broken at the present time, of course, it will rise to the resistance to re-test, then a strong drop will fall to the support area.
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EURUSD It will collapse downward +350 PipsWelcome Back.
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If the decline continues, this will break the support it faces, because the euro will weaken after several days against the US dollar.
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Here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts.
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The information given is not a Financial Advice.
EURCAD It will fall at the resistance +90 PipsWelcome Back.
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When it reaches the resistance it approaches and did not break it, it will head towards the downside according to the scenario that you set.
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Here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts.
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The information given is not a Financial Advice.
EURUSD It will go down to support +250 PipsWelcome Back.
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In the event that he does not break the resistance, of course he will head towards the drop to the mentioned support, but it is preferable to sell after waiting because he could not break.
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Here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts.
***
The information given is not a Financial Advice.
GBPUSD It will return to the trend line +120 PipsWelcome Back.
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In case it does not break the current resistance, it will return to the trend line, and if it does not break it will rise again to higher levels.
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Here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts.
***
The information given is not a Financial Advice.
EURJPY He couldn't break the triangle +80 PipsWelcome Back.
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If it does not break the current resistance, which is the resistance of the symmetric triangle, it will collapse to the support below it, then it will rise again to the top and break the triangle.
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Here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts.
***
The information given is not a Financial Advice.
EURNZD It will break the triangle upward +150 PipsWelcome Back.
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A change of direction, because after breaking the triangle, a strong ascend will rise, so there is resistance in front of it, which is the golden Fibonacci level 0.61
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Here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts.
***
The information given is not a Financial Advice.
XAUUSD Gold It will break the trend line to the upside +120 PipsWelcome Back.
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It is now on a downtrend line, and with that, one of the great possibilities is that it will break it and head towards the upside and change the path of gold from descending to upward according to the drawing that you drew.
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Here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts.
***
The information given is not a Financial Advice.
USDJPY Heading towards the rise to the resistance +65 PipsWelcome Back.
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It is now at support and at the beginning of building an uptrend, but initially it needs to rise in the stance, then descend to retest the uptrend.
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Here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts.
***
The information given is not a Financial Advice.