Consolidation or slight drop due to profit taking from last week, before going long
Strong Sell with little buyer, expecting further selloff later during euro session
Same situation GU, Gold price is hitting 4h support. The incoming seller is not strong enough to push the support esp during asian session.
On 60m chart, price is hitting 240m strong, expecting a rebound from this area,
Rejection for upward move @1.8143, the outlook is bearish. tp1@1.80364 for day trade and tp2@1.179063 for intraday
It is typical to have consolidation after big action and upcoming movement in tight range. Small trade for scalpers is possible, and since we are in sell territory any small trade to be token should be a short. We will get better view by wednesday
Finally we have Broken the jail. I am expecting a short consolidation before further upward move.
Looking through pure price action perspective. This pair was under performed for past month. When dolar index reach 98.3 last week, this pair should has at least achieved parity, as we have seen in the past. It seems the price unable to go up due to lack of retail seller as there were a few attemps since 8/13 by MM to entice retail trader to sell and apparently it...
Range is tightening, Yet still 70p for grab for range traders. Price action indicates sellers is gaining strength. Higher tf should Show gradual uptrend dying. Gradual downtrend should follow
Expecting deep pull back, due to recent sharp drop before going long to the MOSTI recent supply zone. ET 10-12 candies
Price has convincingly Breach to sell/bearish zone, price may retest resistant line. May take whole week to reach target zone
This has pair maintained below resistant since 2nd half of last NY session. Good for interday short
Expecting a pullback throughout of NY session, and going long after asian open 8/27
My take, gold price is range bound for next 2 weeks. Ranging with 1486 low and 1535 for High. Since we are at upper limit bound. Short is on better probability for next week.