sahniana
Been waiting from last week for seller movement. Seems like previous latest US News giving hope (hoping this is not a false hope too). I am expecting retracement around 50% for sell. But based on M5 pattern also fibonacci, I will be entry a little earlier.
I can see S Low Break on H1, but not on H4. There is high possibility for higher seller that more than 50% retracement, up to High price. From Monday, I have been waiting for seller to showing their interest. Seems like after previous US news, there is seller interest in the market. Expecting another seller movement at next US High Impact news.
Based on D1 Support Low Break, many looks for selling pressure for Gold to makes down trend. But seems like due to fundamental pressure that not a good condition for downtrend, Gold has been in consolidation for quite days, and has now break the D1 Resistance. Looking at current position, either it makes downtrend or uptrend, we have opportunity for sell at least...
When the 1st SBR tested, it shows strong rejection (bullish pinbar). Currently price are going below the Support level in W1 chart. Because of the buyer interest, also potential of fakeout related to pinbar, here is my idea to trade for current situation. I am not expecting to exit on HH, rather than from Low to High only. Still good RR.
Based on SNR, I think favor still for seller. D1 Support Low Break at clear enough. Pullback for seller still in favor.
Last entry hit SL. So finding another higher seller.
Based on previous H1 makes Support Break, that entry hit SL. So, looking at higher timeframe (H4), now is the best time to sell, expecting H4 makes another Lower Low.
H1 Support Low has already break, but H4 not yet. So I think seller are in control of market now, and going for higher pullback. Looking at lower timeframe Support Low Break, so possible the level I marked is the best price to sell reentry.
H1 Support Low has already break, but H4 not yet. So I think seller are in control of market now, and going for higher pullback. Looking at lower timeframe Support Low Break, so possible the level I marked is the best price to sell reentry.
Based on current Gold movement (strong downtrend), I am expecting seller to return to market soon. With the current slow movement to higher resistance, I think it will be possible to sell with R:R more than 1:2.
I am expecting Buyer Pullback at M5 Zone, I think current status is Weak Seller Strong Buyer, because seller will look for higher price to sell.
Based on current S Break, there is potential for seller entry at higher price.
Looking at strong buyer after the candle, potential for buyer pullback, can entry for short scalping, RR target 1:2.
Currently at D1 chart, can see there is Support break. But when look at higher timeframe, it does not touch MN SBR yet. With guidance from FR levels, I was looking for stronger seller at 1.33 BRN.
Looking at D1 Resistance Break, I am looking for possible buy at nearest H1 Support, also the level are matching the possible D1 RBS.
Base on Daily candle, I am looking for lower buy level at 0.67. So for current H1, I am expecting to nearest H1 Sell Zone as marked in the chart.
Based on H1 + M30 + M15 + M5, I'm looking at possibility for sell retest zone.
Current buy from Weekly level. But with current ranging situation at M15, I'm looking forward for sell continuation for buy to find new stronger support level.