We are starting to see our buys above 1812.500 KL playing out overnight today as we got multiple confirmations of 30m,1hr,4hr candle body closures above, if we can see a daily candle close above that level we have more reassurances and probability that buyers are in fact in control and we are currently slowly correcting the impulsive drop from FOMC.
- Looking to see how the new 4hr candle opens up at 9am, looking for a potential retest of 1812.500KL (creating its lower wick)
- With confirms of weakness in US $ / Fundamental catalyst such as PPI
Current trade ideas from yesterday are still valid and active.
If the news comes out above forecasted we can begin to look for sell setups for Gold as we will see DXY gain strength, and if news is below forecasted we can anticipate DXY weakness and continue with our HTF buy bias.
***Potential swing trade - bonus trade HRHR*** TP 1855KL
- IF PPI is negative and below forecasted + DXY weakness + Price Grab to 1812.500 or 1803 and continuations + Daily Candle closures above 1812.500 or even 1820 are high confirmations to validate a swing trade.
- Looking to see how the new 4hr candle opens up at 9am, looking for a potential retest of 1812.500KL (creating its lower wick)
- With confirms of weakness in US $ / Fundamental catalyst such as PPI
Current trade ideas from yesterday are still valid and active.
If the news comes out above forecasted we can begin to look for sell setups for Gold as we will see DXY gain strength, and if news is below forecasted we can anticipate DXY weakness and continue with our HTF buy bias.
***Potential swing trade - bonus trade HRHR*** TP 1855KL
- IF PPI is negative and below forecasted + DXY weakness + Price Grab to 1812.500 or 1803 and continuations + Daily Candle closures above 1812.500 or even 1820 are high confirmations to validate a swing trade.
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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.