Hi all , hope last week was good for you all and welcome back .
As indicated last week we were expecting the GOLD MARKET to hit level $2000 and it has come to pass, now what's next ?
Today we should expect a continuation of our UPWARD MOVE but we should first see $2000 hit then after that we should expect $2035 and lastly $2075 , also note $2075 acts as a very STRONG RESISTANCE LEVEL, so incase we break it then seeing $2500 is also possible , but the possibility is that i have to identify the levels to hit before we attain $2200.
Gold moved sharply higher last week – including today’s pre-market upswing, it’s a rally that’s bigger than $70 , The volume that we saw last week so far has been huge – the biggest weekly volume this year and the second-biggest even when taking 2022 into account, and… this is the case after just four out of five trading days! This means that this week’s volume is going to be even higher, and the huge-volume signal is definitely going to be flashed. Well, it’s kind of already here, which means that we can already take it into account, even though the trading week has just started.
My expectation is that once we reach the RESISTANCE LEVEL at $2075 i personally expect a fall from there because i can see from my chart that the same level was hit previous in 03/AUGUST/2020 which was on MONDAY and then HIT again most recently on 28th FEB 2022, therefore forming a TRIPLE TOP PATTERN, which is a sign of a FALL, however the PATTERN is not complete for now so we should wait and see what forms, Please note that the rapid rally that we see in today’s market upswing is IN TUNE with a bearish trend, it’s not a bullish game-changer.
Anyways $2075 is a topic for later and as of now, let's collect them profits, keep in mind our TRAPS were broken last week and have some entries running, together with a few more new entries today, we made it even easy, surprisingly GOLD has never been this easy to analyze which means there is something cooking, and we already know what it is and are actually prepared for it.
Let's be on the lookout for patterns and at the same time considering THE PRICE ACTION, That's all for now and until then ciao! it's way passed my sleeping time, and you know i was eagerly waiting for the opening of the MARKET so THAT i could have my entries live and not on PENDING ORDERS.
As indicated last week we were expecting the GOLD MARKET to hit level $2000 and it has come to pass, now what's next ?
Today we should expect a continuation of our UPWARD MOVE but we should first see $2000 hit then after that we should expect $2035 and lastly $2075 , also note $2075 acts as a very STRONG RESISTANCE LEVEL, so incase we break it then seeing $2500 is also possible , but the possibility is that i have to identify the levels to hit before we attain $2200.
Gold moved sharply higher last week – including today’s pre-market upswing, it’s a rally that’s bigger than $70 , The volume that we saw last week so far has been huge – the biggest weekly volume this year and the second-biggest even when taking 2022 into account, and… this is the case after just four out of five trading days! This means that this week’s volume is going to be even higher, and the huge-volume signal is definitely going to be flashed. Well, it’s kind of already here, which means that we can already take it into account, even though the trading week has just started.
My expectation is that once we reach the RESISTANCE LEVEL at $2075 i personally expect a fall from there because i can see from my chart that the same level was hit previous in 03/AUGUST/2020 which was on MONDAY and then HIT again most recently on 28th FEB 2022, therefore forming a TRIPLE TOP PATTERN, which is a sign of a FALL, however the PATTERN is not complete for now so we should wait and see what forms, Please note that the rapid rally that we see in today’s market upswing is IN TUNE with a bearish trend, it’s not a bullish game-changer.
Anyways $2075 is a topic for later and as of now, let's collect them profits, keep in mind our TRAPS were broken last week and have some entries running, together with a few more new entries today, we made it even easy, surprisingly GOLD has never been this easy to analyze which means there is something cooking, and we already know what it is and are actually prepared for it.
Let's be on the lookout for patterns and at the same time considering THE PRICE ACTION, That's all for now and until then ciao! it's way passed my sleeping time, and you know i was eagerly waiting for the opening of the MARKET so THAT i could have my entries live and not on PENDING ORDERS.
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Hi All i'm back, now there has been some developments and as indicated earlier Gold was so easy to analyze which was not usual, had my concerns, my expectation or rather i believe most of us saw the UPWARD movement yes with the PRESSURE of our BULLISH candles we were certain of UPWARD CONTINUATION, but we are brought to a stop, my earlier expectation was we see $2075 but sadly we haven't seen it yet and we are not even close considering the candle pressure we could see it during the North American Session and chances are also minimized.So coming back to the chart i have identified $1967 to confirm our fall together with $1959 once these areas are broken then consider seeing $1905 meanwhile for our UPWARD MOVEMENT CONFIRMATION we need to see $1988 and $1998 broken first and once they are broken then seeing $2035 won't be a problem at the same time we consider the PRICE ACTION which is the most important aspect. The Market is actually trying us and luckily we are ready for it.
The last week's TREND which gave me loses is here, and lucky us we are set and ready for it this time round, you do the above in line with THOUROUGH confirmation as any of the zones get's broken don't just enter blindly, personally i will be giving it one blind entry and after i see a retest, i wait further and evaluate the PRICE ACTION with identification of PATTERNS and that's it i'll be having either my go! or stop! in short THE CANDLES should be BIG ENOUGH to prove my MOVES.
Up until then do wish you all a profitable start pf the week.
CIAO!
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First break towards the UPSIDE, now be on the lookout!Note
Gold prices dropped , with their safe-haven appeal diminished as risk sentiment improved after Swiss lender UBS sealed a deal to buy peer Credit Suisse in a rescue effort to stabilise global financial markets.Spot gold
GOLD is down 0.7% at $1,973.44 per ounce, as of 0404 GMT, after sliding 1% earlier in the session. U.S. gold futures
GOLD rose 0.3% to $1,978.40.
On Sunday, UBS agreed to buy 167-year-old Credit Suisse for $3.23 billion and assume up to $5.4 billion in losses in a deal backed by a massive Swiss guarantee.
Credit Suisse was caught up in a widening crisis triggered by the collapse of U.S.-based Silicon Valley Bank earlier this month, following which gold rallied over 8% or by $160 on safe-haven demand.
"The race to reassure markets over the recent global financial instabilities continues... with UBS' rescue deal for Credit Suisse aiding to calm some nerves and supporting some unwinding of safe-haven flows in gold,".
Moves by authorities to avert a global banking crisis lifted market confidence on Monday as investors welcomed the acquisition of Credit Suisse by UBS Group and emergency dollar liquidity from top central banks.
The dollar was up 0.2%, making bullion expensive for overseas buyers.
But "the risk environment is treading on a fragile state, as market participants are still not fully convinced whether recent moves by authorities can backstop further banking fallouts. Therefore, it may take much more for gold to reverse its current bullish trend," IG's Yeap said.
Meanwhile, markets are pricing in a 25 basis point interest rate hike by the U.S. Federal Reserve on Wednesday. (FEDWATCH)
Bullion is considered a hedge against economic uncertainties, although higher rates increase the opportunity cost of holding non-yielding gold.
So we could see $2600 as demonstrated in my earlier post, and the start is above $2000 for confirmation, but is this deal too good to be true? you''ll find out in the next comment.
Trade active
Second Trap broken we going up , but let's wait for a retest confirm candle pressure and have our entries.Note
hat's our retest, wait for completion confirm candle pressure and have our entries retest possibility $1984Note
Our SESSION is in, let's collect them profits.Note
HELLO all, we sticking with the same plan although i've updated the SET UPS for our TRAPS but we have zone $2009 as OUR NEW RESISTANCE ZONE and level $1969 as OUR SUPPORT ZONE, we buy at SUPPORT close at RESISTANCE, SELL at RESISTANCE close at SUPPORT.( YESTERDAY WE never had any MAJOR BREKAOUTS)This mean's we'll be trading the RANGING MARKET and this is where the SIGNAL PROVIDERS are usually advising you to either SELL or BUY.
Anyways as we all know THE CONSOLIDATING MARKET is the FIRST indication of a CHANGE in TREND, meaning that we might not see the areas i had mentioned yesterday ($2035-75) coz the trend is changing, however we've not yet confirmed the TREND DIRECTION but it's a possibility we could go down instead of up.
As i had indicated earlier yesterday also the MARKET was no longer bullish but bearish, now consolidation is the first aspect, let's wait for further indications and be sure i'll be updating, if it persists we should be prepared for end of the week fall or rise, we could have a long consolidating market at least yesterday, today and tomorrow.
BE ON THE LOOK OUT for PATTERNS , and candle pressure.
A good example currently we should expect the MARKET to close at the resistance level $2009 OR a bit lower.
until then ciao!
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Guys apply the SYMMETRICAL TRIANGLE, in ONE HOUR TIME FRAME.WE COULD get one last pump Up and then witness our FALL.Also kindly NOTE : The MOST RECENT PUMP was at least USD 70 when the last one before was at least USD 100, We were actually anticipating for the MOST RECENT PUMP to go HIGHER at least at $110 but we didn't see that, meaning BULLS are actually TIRED of holding onto the GOLD MARKET.
The PUMP I'm anticipating for now should be lower than 50% and not higher than, meaning we could go up first to around $2015-35 or in between $2015 -$2035 mainly i see it working in between which then will give us OUR FALL ,but also NOTE once we break 50% then we could go further up to $2075.
Let's see what happens.
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Currently on SPOT $1966 WE'VE BROKEN it once, let's see our second BREAK and a RETEST then we get the fall.Note
For those who can risk! i'm having a SELL ENTRY, a very risky ENTRY! and also it requires precision and risk MANAGEMENT SKILLS so if you can't handle RISKS properly , please don't have any entries until i update you.If your EQUITY allows you to sell then have an entry on a smaller LOT SIZE!
For those who are waiting then $1961 is an AREA OF MAJOR CONCERNS, once we break it and the candle formed after the break ,with considering the candle pressure you can have your entries.
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VERY IMPORTANT UPDATE!!!The precious metal drifted lower from a 12-month high above $2,000 as bank sentiment improved.
Gold hit a one-year high of $2,010 as bank fears rattled investor confidence in risk assets and pushed them into the perceived safety of the bullion. Now that those worries started to ease a bit, the precious metal moved back under the $2,000 threshold, snapping a three-day winning streak.
Prices per troy ounce last dipped about 2% from their peak during Monday’s volatility, and today traded around the $1,975 mark. Over the past 10 trading days, gold added roughly 10% to its valuation to flash prices last seen in March 2022, hovering below the all-time high of $2,075 per ounce.
This recent $170 rally was largely boosted by the faith-shattering banking crisis which led to the collapse of four major banks, including SVB and Credit Suisse. While more are threatened, central banks are putting efforts to shore up confidence in the system, and that’s what eased gold prices today.
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Profit's session IS IN, LET'S gear up!Note
My FIRST TAKE PROFIT ZONE, aiming a bit further $1914 , long run RISKY MOVE, what have we got to lose ?Note
How are the PROFITS doing? for those who can hold i'm anticipating for $1861 but please be on the look out and yes $1861 could take longer than we can imagine but trust it's a GOOD ENTRY! For those who feel insecure then $1914 is enough and then you wait for tomorrow's analysis.
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For those who are having a hard time identifying patterns, kindly go to INDICATORS then type all patterns, a box will show up and some markings on your chart, read and understand, and whenever the patterns are formed you will have an indication on your chart there fore it's gonna be easy for you to identify and have a conclusion.
THANKS TO TRADING VIEW, they surely are here to help us all GROW!
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Guys that's all for now CIAO!Note
Hello All AND WELCOME BACK, today there is nothing much my trades are still running, i hope you did hold as well.I'm holding and still in large amounts of PROFITS, I'm running on 14K GUYS! you got any QUESTIONS feel free to ask, i'll be updating incase of anything and yes SELLERS seem to be loosing their momentum but it's nothing to worry about, continue holding.
JUST keep on Updating my STOP LOSS.
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UPDATES! guys there is some sort of resistance experienced at level $1940- 37, this is what i was actually worried of, although it's nothing MAJOR but for those who are still holding please be on the LOOK OUT! be EXTRA CAUTIOUS!Note
Guys We have an INDECISION CANDLE which brought up my worries, this could be a start of a MINOR PUMP! awaiting further confirmation but for those who were holding and your equities can manage, you could hold further until we confirm, for those who can't hold any further please CLOSE!Note
Just an UPDATE, looking at our ONE hour Chart, have identified some areas for our UPWARD MOVEMENT , I did set some traps at $1947 and $1955 for confirmation of our UPWARD MOVEMENT to $1985 , For the fall i've identified $1933 and $1926 once we break these zones then $1885 is possible.Meanwhile be on the look out for price action patterns. we can break once then go for a retest and once we see the retest then we have our entries.
I'll be updating with time!
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Guys i'm expecting a little PUMP up to around $1966 -70 , it's a risky buy entry, i'm anticipating it to occur during the evening hours, reason being DOJI pattern formed in one hour time frame.As i said earlier it's a risky entry and anything could happen during the period.
Please do not enter the trade until further confirmation.
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We've broken the FIRST TRAP for going up, now i have updated the level for the second trap at $1953 once broken we will be having our short pump.Meanwhile running profits and with that lot size man...it's a happy ending
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Guys i'll call it a day on my end! see you tomorrow and for our muslim brothers and sisters have a joyful and amazing month of RAMADHAN..RAMADHAN KARREM and SAUM MAQBOUL!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.