MTK_FX

MTK_FX

For weeks now XAUUSD has been flying. At the end of last week we had a BOS to the downside on the 4hr chart, not to mention the extremely bearish candlestick left on last weeks candle. Since the open on this week, gold has been rising in a very lethargic manner without real energy. Which tells me another drop could potentially be near. In the afternoon of the...

MTK_FX

2 weeks ago i wrote about DXY potentially fooling us. However it is yet to prove me right. I am still convinced it will rise however it seems my timing was wrong. After analysing DXY today, I can see that price breached the 104.000 level that price was respecting. Which tells me it was engineering liquidity which has now been taken. We have also broken above a...

MTK_FX

For weeks now XAUUSD has been flying. At the end of last week we had a BOS to the downside on the 4hr chart, not to mention the extremely bearish candlestick left on last weeks candle. Since the open on this week, gold has been rising in a very lethargic manner without real energy. Which tells me another drop could potentially be near. In the afternoon of the...

MTK_FX

NFP proved to be an interesting week. Majority of traders (myself included) were expecting lower prices on gold. However whenever the majority expect something, gold often does the opposite. The last daily and weekly candle are extremely bullish, and have broken above previous highs on the daily. This would lead people to believe XAU is now turning bullish. I have...

MTK_FX

After a very bearish NFP week, DXY price has closed with a very bearish weekly candle. However if we look at the bigger picture, the structure is still bullish. A lot of traders were looking to sell against the Dollar last week (myself included), and pretty much all of those were taken out of the market from such a strong move from DXY. In my opinion this is a...

MTK_FX

I personally see gold as bearish and under a downward trendline, it’s true trendlines can be drawn to suit whatever your analysis is, however given that gold is a ‘safe haven’ and the All time high with gold which was reached very quickly and was when every country around the world was going into lockdown from covid. So in my opinion is as relevant as a reaction...