FriesianFX

FriesianFX

Looking at sells based on price creating a top wick fakeout and then moving back down, we will see what happens but this is what I am looking for

FriesianFX

Gold is at a crucial point after weeks of consolidation in the 2300's, with this resistance and support being respected so often in the past and now with the new monthly, quarterly and half yearly, we can anticipate this move being the creation of a top wick for price to move down.

FriesianFX Updated 

Looking for a similar trade set up to the one we had during london session, we missed out on that one due to no top wick forming however with the new 4h candle opening there is a strong chance we see Gold push down further to recent support.

FriesianFX

Looking for sells on gold based on the hourly timeframe - the whole point of the play is that we want to see a liqudity grab up first, once we have that we can look for sells on the BREAK OF THE LOWS! We should ONLY take a sell in this scenario otherwise we risk price going for ATH again causing us to take a bigger loss. Stop loss will be at ATH

FriesianFX

With price currently in a bearish trend on the daily timeframe I am personally looking for buys here. It has been an aggressive sell off so far this week, I am expecting price to go back up and retest the 2050 levels and looking to get a piece of the action on the way up.

FriesianFX Updated 

As gold approaches our level where we look for the candle on the 5m candle to close we are anticipating sells to be taken here with the possibility of 1930 being tapped as a potential TP This is a scalp so as always fast and aggressive take profit will be done

FriesianFX

Looking at gold on the weekly timeframe it's clear to see that price typically finds very strong support from the 1900 price area, looking at this, we can expect price to continue down towards this level before rejecting and hopefully giving a bounce towards the mid 1900's (higher than where we are right now at the very least!) Overall bias on gold is bearish,...

FriesianFX

Currently looking at taking sells once the current 5m candle closes below the marked level, with this we will be trailing stops and taking partials as soon as we hit 10 pips+ profit Last nights trade was a similar concept however it was to the buy side, so we will be looking to take advantage of these micro moves once again

FriesianFX

Taking buy scalps based on a strong push to the upside on gold as well as the fact that we are seeing a close on the 5m and 15m timeframes closing above the marked level As price moves up we will be trailing stop loss and taking partial position profits at 10+ pips.

FriesianFX

Looking for gold buys or sells depending on where the FIVE MINUTE candle closes respective of the levels marked in the chart Gold has seen a strong push to the upside and I don't believe it's completely exhausted yet. However, that does not mean price action won't play out on smaller timeframes.

FriesianFX

This is why I love and talk about price action so much. Gold has given us an absolute gift of a level with such a repetitive history it would be foolish to not take note! The white circles highlight areas where the 4h candle has closed above the level and pushed up towards 1967. If we can see a 4h candle close above this level, move down to grab liquidity with a...

FriesianFX

Friday NFP saw the daily candle close in a very weird spot. 1. it started as a very bullish candle and turned doji 2. it closed within the range 3. despite being a doji it created a support with the previous daily bearish candle. Is this significant? I don't think so. not yet. Monday's daily candle will tell us everything we need to know, especially as we will...

FriesianFX

Monthly chart shows one thing. STRONG rejection. And where there's a strong rejection, there's a chance of a price reversal. How does this coincide with what we are looking for? Well, August monthly candle did not have a top wick. If we can get a top wick created for the previous months candle then September SHOULD see a sell off going into the end of 2023....

FriesianFX

So far this week price action has been very slow, with the only movement coming in as a reaction from news and little else happening inbetween. We are at a key level where Gold either makes or breaks it's August and september start with core PCE news today, and NFP tomorrow. The main thing to look out for today is a liquidity grab, which are levels marked in...

FriesianFX

Gold has reversed and is current in a bullish trend, however we are reaching areas where we have seen strong areas of rejection AKA ranges where gold tends to get stuck within Due to this I'd be cautious with swing trades, but I am very much so looking for trades on the lower timeframs

FriesianFX

And sure enough Price action did exactly what we were looking for price action to do. Typically I would move stops to break even and take partial profits here, however due to the fact I am taking a reduced lot size (0.01 lots as I am currently testing the trading style out) I will move stops to breakever at our BE line (1909) But I hope this was an educational...

FriesianFX

THIS IS NOT A TRADE TO TAKE - IT IS PURELY FOR EDUCATIONAL PURPOSES FOR MYSELF Looking at previous price action and PA mimicking it, I'm looking to take a 0.01 lot sell limit here at the level marker at 1912.5 so that we can assume price will continue down after grabbing liquidity Price closed below a level, rejective off of 1904 as it has done previously so...

FriesianFX

Similar to yesterdays scalp idea, buys here look good should we see price close above our level. Be cautious of Powell speaking and revise Prelim UoM which may effect the USD, but other than that if we can see price action play out around our level we are good to take buys from there.