Mihai_Iacob

Mihai_Iacob Updated 

In the past two days, I've emphasized the importance of the 2480 support zone, suggesting that the price was likely to test this level before potentially reversing. This prediction played out as expected, with XAU/USD indeed dropping to that specific zone. However, my bullish outlook has shifted, and here’s why: Failure to Break 2500: Most importantly,...

Mihai_Iacob

In trading, as in many areas of life, our perceptions are often shaped by our desires and expectations. This phenomenon, where we see patterns or signals that align with our preconceived notions, can be likened to pareidolia—a psychological tendency to perceive familiar shapes or patterns in random or ambiguous stimuli, like seeing faces in clouds or animals in...

Mihai_Iacob

Introduction: When it comes to trading, the choice between day trading and swing trading can significantly impact your stress levels, decision-making, and overall success. In this article, I’ll explain why I choose swing trading over day trading, focusing on the benefits of a more relaxed approach that aligns better with my trading style and goals. 1. Day...

Mihai_Iacob Updated 

Yesterday was another relatively quiet day for gold traders, with the price fluctuating within a narrow 100-pip range and ending with an indecisive daily close. As I mentioned in yesterday's outlook, despite the recent weeks of range-bound trading, the overall trend remains bullish, and a new all-time high is likely on the horizon. However, for this bullish...

Mihai_Iacob

After forming a double top above the 106 level, with the second top occurring at the beginning of July, the DXY (US Dollar Index) began to decline. After breaking the 104 neckline of this pattern, the index tumbled to the key support level at 100.50, which coincides with the price level from the start of the year. As expected, the price started to recover, and...

Mihai_Iacob

In my Friday analysis, I mentioned that a break above 2530 could trigger an upward acceleration, especially since gold had been trading within a tight range throughout the week. However, this breakout did not occur. Instead, XAU/USD ended the week just above the key 2500 level. As of this writing, the price is slightly below 2500, currently at 2496, and it may...

Mihai_Iacob

Gold has experienced a very quiet week, with prices fluctuating between approximately 2500 and 2520. While we haven't seen a decisive move in either direction, I believe the odds favor an upward breakout, potentially leading to new all-time highs. I will maintain my bullish outlook as long as Gold remains above 2500.

Mihai_Iacob Updated 

In my analysis yesterday, I mentioned that Gold could start correcting, and that rallies should be sold. This prediction played out as expected: after attempting to rise above the 2520 mark, the price began to decline, reaching an intraday low just below the critical 2500 level. Although the bulls tried to regain control, they faltered again around the 2520...

Mihai_Iacob

Since March, Bitcoin has been trading within a clear downward channel, making lower highs and lower lows. While this suggests a downtrend, it should be viewed as a correction within the broader uptrend that began in early 2023. From a long-term perspective, Bitcoin needs to clear the 68k level to aim for new all-time highs. In the short term, the sharp reversal...

Mihai_Iacob Updated 

If you’ve been following my analyses over the past 10 days, you’ll know that I’ve maintained a bullish outlook on gold, anticipating a rise above 2500. Although last week was marked by strong volatility, and two of my long trades didn’t hit their targets—one closing at break-even and the other with a modest 40-pip profit—the overall outcome has been quite...

Mihai_Iacob Updated 

In a previous EUR/USD analysis, I mentioned that the pair could reach the 1.11 resistance zone. Yesterday, the single currency indeed climbed to a high of 1.1088 against the dollar and is currently consolidating its recent gains. The trend remains strongly bullish, and the trading strategy should continue to be "buy on dips." The ideal entry point for this...

Mihai_Iacob Updated 

Yesterday, gold corrected Friday's strong upward move and dropped precisely into my buy zone. A recovery followed, with the uptrend resuming; however, the price was unable to surpass the recent all-time high (ATH) and began to decline again. While there is a possibility that a double-top pattern could be forming, this has not been confirmed, and the overall trend...

Mihai_Iacob Updated 

Last week was marked by significant volatility in gold prices, with fluctuations amounting to hundreds of pips. However, on Friday, the bulls took full control, driving the price above the important milestone of 2500. Currently, the price is undergoing a minor correction and consolidation phase. I expect it to resume its upward trend once this period concludes....

Mihai_Iacob Updated 

Yesterday was another highly volatile day for Gold. After initially breaking above the 2460 resistance and reaching a high of around 2470, the price dropped sharply to a low of 2433. Following an hour and a half of intense fluctuations, the price settled in the middle of the range. Despite these strong moves, the overall trend remains bullish, and I still...

Mihai_Iacob Updated 

As discussed yesterday, I maintain a bullish outlook on Gold and expect the price to rise above 2500. As anticipated, the price dipped below 2450 yesterday, triggering my buy order. However, the subsequent recovery from this dip has been less encouraging than expected, prompting me to move my stop loss to break even. From a technical standpoint, Gold's price has...

Mihai_Iacob Updated 

Monday has been a strong day for gold bulls, with the price surging by approximately 500 pips. After reaching a new local high yesterday, the price began a typical correction and is now consolidating above the 2460 support level. My outlook for gold remains bullish, and I'm looking to buy on dips. The 2450 zone would be an ideal entry point. For short-term...

Mihai_Iacob

In the fast-paced and ever-evolving world of trading, the pressure to make quick decisions and stick to them can be intense. There's a pervasive belief that once a decision is made, a good trader should stand by it, no matter what. However, this mindset can be misleading and, in some cases, even harmful. In truth, the ability to change your mind in trading is...

Mihai_Iacob Updated 

After a significant drop of nearly 1,000 pips last Monday, gold has established strong support at 2,380 and began to recover mid-week, reaching the 2,430 resistance zone. The recent pullback from this resistance found support at 2,415—a level that has served as both support and resistance since the beginning of the month. Once again, support has formed higher,...