I will enter a buy IF: London respects previous London Lows for this week If it bounces off 4H Liquidity Zone It is at a 61.8 (1H) And if it respects 1735 Psychological Level
Closed Gold early before target - what I was looking for didn't happen until US Session Was shy of a few pips from my planned entry. My confirmations for this trade: 4 HR Support Zone (purple arrow) 3rd Touch on trend line Entered at 71% Fib $1745 psychological level
4 HR Liquidity zone synchronised with previous session high for buy entry
Gold will take its time reaching 18000. Just looking for a break and retest of the monthly to the upside
Due to Borris's disappointing announcement last week the pound greatly fell. BOE Government Bailey Speaks on Wednesday at 2.30pm. Be aware that more QE will weaken the pound. Expecting this currency failing to take out the previous high on the 1HR and take a revisit to the monthly high at 1.9000.
Expecting spikes in 1.41500 after Fed chair Powell speaks Monday 18th May at 12pm before it goes into predicted direction. Last week Powell said further stimulation is needed to support the economies recovery from the corona virus conduced contraction along with stating that the US economy will not get back to normal until 2021 until there is a vaccine.
Confirmations: London respects Asia High from today Asia High Respects 4H Magnetised Zone (Rejection) 2nd Touch Trendline Under Psychological Level Short Term Target 1: 1.39921 Potential Target Long Term 1.39312 Caution: FED Chair Powel Speaks