This is the setup for the retest of the opening range on GOLD today using the OTA TradingView Tools. We have high timeframe momentum going down and the middle timeframe trend going down. Therefore we are looking for a breakout to the downside and the retest on the rally base drop.
This is my daily timeframe analysis, for context this is my LTF (Low Time Frame). I will be working with 3 time frames for my analysis, a LTF (Low Time Frame), an ITF (Intermediate Time Frame), and a HTF (High Time Frame). As stated earlier my LTF is Daily candles, my ITF is Weekly candles, and HTF Monthly candles. The HTF will be used to identify where we are in...
A clear level where price has yet to come back. This is a strong zone with a score over 5, a weekly, daily level with 2 levels on top of levels on the h4
Wow, that demand zone at 0.7668 looking at it now, the origin is a bit lower at 0.7525. I'm thinking that the move down takes a pause here and moves sideways for a bit, since the initial reaction was not that strong off of the zone. The buy orders appear to be absorbed by the open supply for now. I think we are traveling north to 0.76933 but ultimately I think...
Base run, base run drop to base drop run AUDJPY looks pretty weak here. it is sitting at the bottom of a 1hr channel, with not much demand near by to pick it up. Look for a run up though into one of the abundant supply zones, and a move lower from there. Other: The formation on the 15 looks pretty toppy, three peaks with a taller center. More red bars than...
The 4 and 1 hr trend is down. The area circled is the location of a supply zone. It has been hit before but there was a strong move away from this level. There is a great chance to get a move down , looking for 50 pips 25 pip sl. Will run a second entry if price enters deep to the zone with a smaller SL and better RR Good luck T
Pound dollar breaking down before the London open. strong momentum on channel breach. Pocket of demand used up. Downward movement inevitable.
This looks like a bull trap after a retail breakout (0.77151) resistance. The trap is a clutch of sell orders ready to go in the 0.77219 - 0.77256 range. Sell in this range, 20 -25 pip stop. 1x and 2x targets are in range. Good luck Tim
Bull trap after breakout. Retail will be seeing breakout from previous tops. In waiting are a ton of sell orders at 0.77219 - 0.77256. Look for a topping formation in this area, perhaps another minor top in this area after a quick run down.