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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
Buffet Indicator insightsDespite the recent downturn in the equity market, the Total Market Cap over GDP - also known as Buffet Indicator - clearly shows that there still might be a significant market crash ahead. Assuming the market will reach the " Fairly valued " territory, it means that a further 25% decline is to be expected. Assuming instead that the market will ultimately become " Significantly Undervalued " - as it happened after both most recent market crashes (except after COVID due to the massive Fed intervention) - we should expect a further 50% decline.
FRED:WILL5000PRFC
by a.b
AUDCAD Headed to the UPSIDEWelcome back! Here's an analysis of this pair! **AUDCAD- 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
Long
by BKTradingAcademy
12
GBPCAD I It will fall to target supportWelcome back! Here's an analysis of this pair! **GBPCAD - 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
4
AUDCHF I retracement and more decline!Welcome back! Here's an analysis of this pair! **AUDCHF - 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
EURCHF Plan After Swiss Rate Hike Welcome back! Here's an analysis of this pair! **EURCHF - 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
Long
by BKTradingAcademy
6
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
CADCHF Intraday & Scalp I SHORT Welcome back! Here's an analysis of this pair! **CADCHF - 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
2
GOLD No Bullish Price Action, Is It Time To Look For Sell ? Hello traders: Last 1-2 weeks ago my overall view on the lower time frame for GOLD was to wait for bullish price action to have a potential buy in short term. Price however didn't form the continuation price action on the lower time frame for me to consider any entries. Instead, structure/pattern can evolve, and in this case, instead of a bullish continuation on the lower time frame, we are seeing the structure more as a bearish continuation instead now. With the overall sharp reversal impulse down, form the all time highs, price has now form a possible continuation correction right outside the ascending structure. Be on the look out for smaller continuation correction as the confirmation for more bearish impulse phase to push the price lower to the next swing lows. Thank you
OANDA:XAUUSDShort
by jojofang0901
35