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Easy Trading Setup For GOLD (XAU/USD)Hi Traders, Happy Monday. Today we are looking at GOLD (XAU/USD) We are on the 4-hour time frame. I am noticing that the price is bouncing nicely between two zones of support and resistance. We are also seeing giant wicks on either side indicating that there is indecision in the market. The bulls are trying to come back in but the bears won't let them. This causes the price to stay in between two tight zones and consolidate. We also see that volume has been slowly decreasing and sloping down as time goes on. This too, indicates that this market is tired at this point. Indecision is strong and people are waiting to see which way the price will pop. We have two possibilities. Possibility 1 ) I would like to see the price bounce up and close above the resistance zone above. I would then like to see strong volume accompany this strong move upwards. If we see this play out, I would then look for a retrace back into the yellow resistance zone before opening up a long position with my targets being where the previous price structure was which is around the 1771 price point. Some further confluence that can help validate and give confidence to this particular possible setup, is that we have an imbalance on the left-hand side. We have a gap between 1752 and 1760 and the price needs to fill this gap. Inbalance in the markets usually does get filled. Whether this is a self-fulfilling prophecy is a topic for another day, however, this gives us further confluence to help validate the possibility of price breaking to the upside and heading higher. Possibility 2) If the price moves impulsively down and breaks and closes below the support zone, then I would look for high bearish volume to accompany this move. Once we see the break and close, I would then wait for the price to retrace back into the support zone before opening up a short position. My target for a short position would be around the 1679 price point which lines up nicely with previous daily support. These support points have been respected nicely on the daily time frame for some time however, they are giant wicks which tells me that there are many buy orders in that 1679 price level. So whichever way the price decides to move will dictate to us if we should be bullish or bearish in this time frame and whether we will be opening up a long or short position. Remember, as I am a swing trader, I always stay patient and I only enter into positions that present a viable opportunity to make profits. And on that note, I bid you all a fantastic rest of your Monday and as always, I will be seeing you all in the next one. The Vortex Trader
OANDA:XAUUSD
by TheVortexTrader
SELL - GBPJPY POTENTIAL SHORT ( BREAKOUT AND RETEST OCCURED)Evidently GBPJPY has broken the channel that formed. The channel was then subsequently retested and rejected from successfully; for this reason, I believe a short from the current price to the 4 hour support level would be highly probable. More importantly, confirmation of this bearish bias can be seen on the daily time frame, where a rejection from a key price resistance level has presented itself. *NOT FINANCIAL ADVICE, MERELY AN OPINION.*
Short
by Trader856
EURJPY If he rejects the resistance zone I SHORTWelcome back! Here's an analysis of this pair! **EURJPY - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Short
by BKTradingAcademy
12
EURUSD Watch for Bounce from Demand AreaWelcome back! Here's an analysis of this pair! **EURUSD - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
by BKTradingAcademy
3
GBPUSD | New perspectiveA significant breakout of the bearish trendline on the 1 Hour time frame appears to be a major signal that the bulls are taking charge hence the reason I am looking forward to a bullish momentum going into the New-York session. So, to make preparation for entry easier, I have identified a key level at $1.25300 that will be a guide to taking advantage of the potential bullish move. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
CADJPY I Approaching Monthly SupportWelcome back! Here's an analysis of this pair! **CADJPY - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
by BKTradingAcademy
GBPJPY | Perspective for the new week | follow-up detailsThe pound clings to upbeat UK job data which appears to be evolving into a second bullish move from a technical perspective. The sharp rejection of the bearish trendline that was broken in mid-April 2022 during the course of last week's trading session appears to maintain a strong bid tone for the Pound going into the new week as I look forward to a breakout/retest of the key level at 160.000 area to join the potential rally. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
NQ Power Range Report with FIB Ext - 5/18/2022 SessionCME_MINI:NQM2022 - PR High: 12593.50 - PR Low: 12569.00 - NZ Spread: 55.00 Evening Stats (As of 12:05 AM) - Gap: = N/A - Session Open ATR: 436.59 - Volume: 29k - Open Int: 241k - Trend Grade: Bear - From ATH: -25.5% (Rounded) Key Levels (Rounded - Think of these as ranges) - Long: 14105 - Mid: 12960 - Short: 11820 Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
CME_MINI:NQM2022Short
by mv3trader5
NZDUSD Short Set Up This Week!Welcome back! Here's an analysis of this pair! **NZDUSD - headed for support at around 6720-6700 zone which we can expect a bounce and then continuation downward. We will be monitoring 6790 area for re-tests and potential entries for scalp, intraday, and swing. Targets would be 6765, 6730, 6700, 6610. We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Short
by BKTradingAcademy
NZDUSD | Live position review | UpdateStoploss hit with around 30pips profit. Price is currently back into the neckline of the reversal pattern identified in the 1 Hour time frame and we are expecting a trend continuation to the downside should the price goes as planned. Cheers! Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
1
EURNZD | Live position | UpdateWe are currently in 200pips profit as price action moved exactly as projected in our analysis yesterday (see link below for reference purposes). Let us continue to watch and see if price action has the tendency of moving further up in the next couple of days... cheers! Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry