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XAU/USD * Gold Next Possible MovementXAU / USD ( Gold / U.S Dollar ) Technical Analysis Chart Update Time Frame - H2 According to Pattern in Long Time Frame #LTF it is Following Falling Wedge and Completed its Retest In Short Time Frame #STF it is Following Bearish Trend Line very Strongly so its possible that it can Go till Upper Trend Line #UTL and if it breaks abd retest then its Again buy It is Currently at Demand Zone and Rejecting from Fibonacci Level - 38.20% It has Completed its Impulsion and it making its " C " corrective way in Long Time Frame #LTF - Daily In Long Time Frame #LTF we have Buying Divergence #RSI as well
OANDA:XAUUSD
by ForexDetective
Big money move! 🤑🤑🤑 (short)This is a move I've been anticipating since this range formed late last month. There's a 100 pip gap in resistance sitting right above this range, I have a feeling that's where we're headed. This is a straight forward supply & demand setup! I'm anticipating a spike tomorrow morning If price closes below the lowest low in this range before price hits one of my entries then this setup is invalid I estimate that his trade will payout by Friday at the latest. Good luck tomorrow!
Short
by NeoDaNomad
2
SP500- Important moment for bullsSince mid-June, SP500 had a very good run with the index rising around 15% from the bottom to the top. However, since 4300 recent top, the index has started to drop and now is trading at 4200. Looking at the daily posted chart we can see that 4100-4150 is a very important horizontal support and is imperative for bulls to maintain this zone to keep momentum to the upside. On the other hand, a drop under this support to the 4k zone would signal a new lower high and more importantly a false break to the upside and the bearish trend that started at the beginning of the year most probably will resume. That being said, I'm slightly bullish as long as the price is above the mentioned support
OANDA:SPX500USDLong
by Mihai_Iacob
13
Gold in support zone. What's next?In the past two weeks, I've argued that Gold could drop to 1740 support zone and, indeed, after breaking under rising wedge's support and the failure to stay above 1800, XauUsd slid to my highlighted zone. So, now what? Although is difficult to say at this moment if the drop from 1800 is in fact a lower high and Gold will resume its downward movement that started back in May or we will have a higher low to 1680 and Gold will resume its long-term bull trend, after 5 red days, at least a correction can follow. That being said, in short term I expect a rise towards 1770 with interim resistance at 1755. My past Gold analysis:
OANDA:XAUUSDLong
by Mihai_Iacob
4
XAUUSD - Gold Next Possible MoveXAU / USD ( Gold / U.S Dollar ) Technical Analysis Chart Update Time Frame - H2 According to the Pattern in #LTF - Long Time Frame H-2 it is following #Rising Wedge In Short Time Frame #STF in M-45 it is following #Bearish Channel and completed its retest But according to Level it can Follow Buy Trend from here if it breaks this level then we will enter in #Sell and if it #Rejects then we will enter in #Buy #RSI is in favour of Short Sell Long Term Buy
TVC:GOLD
by ForexDetective
Update: Priceline Breakthrough!The price line has been breached! If we see consolidation under the price line, that could indicate that price will continue down, further into profit. Look for big rejections under the price line, to confirm the move to the downside. I'm not going to make the same mistake I made yesterday. I'm going to wait until price reaches demand, and take profit then look to get back in at supply. I'll know more about where that will be when it happens. I actually went ahead and took 30 pips off the table already and used the last spike as my supply entry back into this trade! I did this twice, I'm just trying to keep things consistent on the charts. I'll let you know when my next take profit happens! Check out my previous post for a play by play on this trade, the goal of this little series is to show you guys how I approach these moves, and manage my positions while the trade is active. I hope this helps! Have a good day!
Short
by NeoDaNomad
2
TRADE OF THE WEEK | Profitable Scalping Session💰 Hey traders, This week, due to an activity of the market, I decided to share with you a scalping trade that I took on EURAUD: The market was approaching a solid rising trend line on 4H. Our confirmation to buy from it was a double bottom formation on 1H time frame. Long position was opened on a retest. The market quite quickly retested the broken neckline. The price bounced then, giving us 77 pips of a pure profit! Did you catch this trade? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Long
by VasilyTrader
5
Gold could drop 500 pipsSince 21th of July's low, Gold has risen more than 1000 pips in a clear uptrend. However, the rise from the 1755 low is drawing a rising wedge pattern, and also the price action from this week has put an H&S on our chart. A new attempt to conquer 1800 failed yesterday, giving us the right shoulder and the idea that bulls may very well be done. At the time of writing Gold is trading under ascending trend line support (also confirmed by yesterday's high) and exactly in the horizontal support A break here could lead to a steep drop to important 1740 support. Interim support is at 1755 (horizontal support and rising wedge's target) and this bearish outlook is negated by a daily close above 1800. Sell rallies remains my preferred strategy
OANDA:XAUUSDShort
by Mihai_Iacob
28
Update: Managing Risk, Waiting for BreakoutThis trade has gone from over 50 pips in profit overnight to about 10 pips down during this London session. But that's the nature of trading reversals. In my second update I mentioned that a rally, was the most realistic scenario to expect today, and that's because you can see price found support at my first entry. That's really it for the negatives, no stop outs just yet, we're still in it. So...What are the pro's to justify staying in? 1. There's a breakout pattern at play, so even if price does go against me here, it will have to come down and consolidate just above or on the price line that it's been oscillating around since Monday. If it breaks below the price line then this trade will be comfortably back in profit. These breakout patterns are also my highest win rate set ups as well. Right around 80%. So I remain confident. 2. Price is sitting still. The market has failed to make a new high, which makes this a prime candidate for a double top, which favors a bearish reversal. The fact that price has stopped below my second entry gives me confidence advancing my stop loss. My exposure for this trade will now only be 1%, making this trade 6:1, if it hits my TP 3. New York sessions are often characterized by short term trend reversals. If price was going to break below the price line, it's going to happen between 8 am and noon. So that's something to look forward to! We'll see what happens!
Short
by NeoDaNomad
Update: Priceline Reached, Waiting for Break & Self AnalysisSo things are going to plan, so far, we saw the rally, the market failed to break yesterday's high. And price has followed the breakout pattern and returned back to the price line. A break through would put this move comfortably back in profit like I mentioned in my last update. These are all positives. But I can't help but thinking about the fact that I could have been 80 pips up on this move instead of 15. I usually wake around 12:30 am to check the charts and get ready for the London open. But this morning I actually didn't wake until 7:00 am, which cost me because had I woke up, I would have managed this trade slightly different, and I thought this would be a good opportunity to critique this position, in hopes that you guys can learn from my mistakes. 1. My first entry wasn't good...both of my orders were designed for different scenarios, you can see in my original post for this trade that I was speculating about two reversal points, but I couldn't be sure which one it would be until it played out. In order to avoid losses, I placed the stoploss for my first entry above my second entry. The downside to this, was that my average fill was still too low to be safe from price going against me. You can see that my second entry came within 10 pips of the highest high we've seen these past couple days SO...if that had been my only entry, I could have run a much tighter stop and made a lot more money. 2. My biggest mistake was not taking profit when price got back down to my first entry. This would have freed me from that first entry and given me an opportunity to get back in at supply with a tighter stop and better RR. If you're wondering how I find these supply zones, I use the fib tool and I look for a spike with the open and close within a 31% ratio (like the one in the top left corner). Keep in mind, a spike can last more than one candle. So a candle that gets engulfed by another can also be considered a valid spike, so long as the open of the first candle and the close of the engulfing candle lie within a 0 - 31% ratio. For a bullish spike, take the fib tool from the lowest point and drag up to the highest point. Do the opposite for bearish spikes. A bullish spike must be followed by a bullish candle to be considered valid, and a bearish spike must be followed by a bearish candle to be considered valid. Spikes should only be used to mark supply and demand zones if they happen in an area of value, or POI. I also use the distance between (highest highs and the next highest close) or (lowest lows and the next lowest close) as supply and demand zones as well. 3. You can see that had I done this I would have been able to get back in, and be over 30 pips up now this second time around, putting me at around 80 pips taken these past two days. I should have done that. If I felt like a rally was coming then it would have been wisest to exit my position at demand and get back in at supply. I hope you guys can apply this to your trades and avoid this mistake in the future!
Education
by NeoDaNomad
Gold- Time for correction?In my yesterday's comment I said that Gold could rise above 1800 and, indeed, the price spiked up. However, bulls were unable to keep the price elevated and the market closed with the price under this important figure. From a technical point of view, the rise since the beginning of August is in a rising wedge and the support of this pattern is now broken down. A correction could follow from this point on and, in my opinion, rallies should be sold. I'm bearish on Gold as long as yesterday's high is intact.
OANDA:XAUUSDShort
by Mihai_Iacob
2
Update: Entry #2 triggered! 20 pips so far!I was anticipating strong resistance @ 1.036 and it came! Price has now fallen over 50 pips from my second entry. I ran a tighter stop on entry #2 so I ran a slightly higher lot size That brings my average fill up to around 1.03235 putting this trade over 20 pips in profit so far. My best case for tonight is that price continues to fall, but I think a more realistic scenario is that we see a brief rally, and a H&S pattern completed by London. Either way, I feel very good about this trade so far!
Short
by NeoDaNomad
5
Update: First short entry triggered!The first of my two short entries got triggered last period! I have another entry with a much tighter stop on stand by should this move continue up to 1.036 I'm targeting parity, this trade is a little over 2:1 RR because I didn't really have the best entry, but one of these entries, I'm confident will pay me by Friday at the latest. Check out my original posts about this move below! Also if you're curious about how I find my setups I made a EURUSD guide and linked it as well!
Short
by NeoDaNomad
2