Hello All, Good Morning and Welcome back,
Last week was amazing , very profitable i hope this week becomes even more PROFITABLE than last week, Let's jump in today's Analysis but first i saw the rise yesterday though i didn't post it publicly but still you can see in one of my comment answering a friend in the FRIDAY'S POST, I replied to him on the comment section before the opening of this week's MARKET , This is just last NIGHT.
TODAY'S MARKET.
As always we don't expect that much of an impact although their was soo much BUYING PRESSURE, but as of now the MARKET has become almost controllable , if our RISE is to continue then we should first break $1890 , 1895 and $1897 once these zones are broken then seeing $1911 - $1918 - $1925 , $1929 and lastly $1935, the BUYERS seem to still be having control of the MARKET however let's have our confirmation by seeing the TRAP ZONES BROKEN and after they are broken we should expect a RETEST back to mainly $1872 and maybe $1866 then we give our entries.
For the SELLERS once $1872, $1870 and $1866 are broken then seeing $1844 , $1840 and $1830 is more likely , however we are going for a fall since there has been so much BUYING towards the end of last week and also at this week's start , now looking at our price action we can see BUYERS ARE STILL in control , going in 4 Hour Time Frame we are still headed up, with our 4 HOUR time frame it gives us more ideas of a FALL but the fall seems to be expected from $1900-1911 so yes we could see RISE to $1900 first and then we see our fall.
#MY CONCLUSION.
The MARKET is generally moving up as of now, however we should also expect a DUMP, not sure exactly where THE DUMP will start but it 's most likey there ,this gives me room to analyze further in the next 2 - 3 hours , so taking down $1900 is possible but all depends mainly on our breakouts , i also would suggest us to kindly not make any rational entries for now, let's give the market time to settle and only then we can have a clearer picture of our entries , there are also no MAJOR PATTERN formations but there is soo much buying pressure . and if you can take RISKS then let's go together for !900 first and possibly $1911. for those who cannot RISK kindly wait for the BREAKOUTS! PATTERNS formation still NONE,
Up until then let's see what the MARKET has in store for us this week, will be back for an update exactly after 4 hours.
NOTE: SCALPING is a better solution for NOW.
Last week was amazing , very profitable i hope this week becomes even more PROFITABLE than last week, Let's jump in today's Analysis but first i saw the rise yesterday though i didn't post it publicly but still you can see in one of my comment answering a friend in the FRIDAY'S POST, I replied to him on the comment section before the opening of this week's MARKET , This is just last NIGHT.
TODAY'S MARKET.
As always we don't expect that much of an impact although their was soo much BUYING PRESSURE, but as of now the MARKET has become almost controllable , if our RISE is to continue then we should first break $1890 , 1895 and $1897 once these zones are broken then seeing $1911 - $1918 - $1925 , $1929 and lastly $1935, the BUYERS seem to still be having control of the MARKET however let's have our confirmation by seeing the TRAP ZONES BROKEN and after they are broken we should expect a RETEST back to mainly $1872 and maybe $1866 then we give our entries.
For the SELLERS once $1872, $1870 and $1866 are broken then seeing $1844 , $1840 and $1830 is more likely , however we are going for a fall since there has been so much BUYING towards the end of last week and also at this week's start , now looking at our price action we can see BUYERS ARE STILL in control , going in 4 Hour Time Frame we are still headed up, with our 4 HOUR time frame it gives us more ideas of a FALL but the fall seems to be expected from $1900-1911 so yes we could see RISE to $1900 first and then we see our fall.
#MY CONCLUSION.
The MARKET is generally moving up as of now, however we should also expect a DUMP, not sure exactly where THE DUMP will start but it 's most likey there ,this gives me room to analyze further in the next 2 - 3 hours , so taking down $1900 is possible but all depends mainly on our breakouts , i also would suggest us to kindly not make any rational entries for now, let's give the market time to settle and only then we can have a clearer picture of our entries , there are also no MAJOR PATTERN formations but there is soo much buying pressure . and if you can take RISKS then let's go together for !900 first and possibly $1911. for those who cannot RISK kindly wait for the BREAKOUTS! PATTERNS formation still NONE,
Up until then let's see what the MARKET has in store for us this week, will be back for an update exactly after 4 hours.
NOTE: SCALPING is a better solution for NOW.
Note
SEEMS as if the fall is coming in shape, the previous UPWARD candle ended at $1894 and the most recent closed at a much lower zone at $1889 which proves upward momentum is lost, the fall formation on the make! let's see what happens but as said earlier will be back with further confirmation soon.Note
If the current price ends at $1882 i'll have a SELL entry if it crosses $1882 then i'll have to wait for further confirmation.The bullish pressure is as well decreasing which is a good indication for a sell entry possibility, however as indicated earlier there could be a RISKY sell entry, but i'm taking it. I'll also advise you all not to have the entry until you have a CONFIRMATION.
Note
As i indicated earlier the sell entry i had was a RISKY ENTRY and now we have the possibilities of upward continuation, however the first confirmation we have for the upward is that $1890 was broken and currently is being broken, this gives us the second confirmation anticipation if we also see $1895-97 broken then we can expect a retest and have our BUY entries.As of now we are simply seeing the possibility of $1900-$1911but remember no entries without CONFIRMATION! BUYERS also seem to be having the momentum, so our upward visibility is becoming more clearer.
Trade active
wait for a retest and then have your BUY ENTRIES!Note
Our Session is in, let's collect them PROFITS!Note
Up we go Target $1911, expecting some little consolidation around $1911 then we'll conclude further however i see $1918-25 extension.Trade active
$1911 Target HIT as indicated an hour ago we should expect to see $1918 -25, so far BULLS are still in Power and yes this is a possible GOLD OVERBUY but remember that momentum is amazing so now we looking at candle patterns to understand our move further , so expect a fall anywhere between $1911- $1925 for now i'm not sure where we going to get the fall but i'll be back to further update just incase..Note
see you later for the closing remarks! for now kindly trade with extra CAUTION!Note
As i said earlier i expected $1911 hit and a little consolidation, now we are somehow on the ranging market, it has just started and we are yet to confirm fully, i'll be back with an update soon and further confirmation of where and what we should expect.Note
CLOSING REMARKS !We are on a consolidating market in most scenarios what we should expect from such a MARKET is trend change, but on this case it's most likely we might see $1925-27 first then we expect the change in our TREND.
For those who are actively trading right now, then i'd advise when you see a break of $1913-14 then you should be certain of seeing $1925-27,plus also you need to consider the CANDLE PRESSURE, the bigger the candle that broke level $1913 the better the chances of seeing $1925, although as of now there is still lots of BUYING PRESSURE but kindly play safe.
As for those who would like to TRADE on the RANGING MARKET my advise is look for a SUPPORT LEVEL to have your SHORT BUY ENTRY and once the price closes at your RESISTANCE LEVEL then you give A SELL ENTRY.
GUYS, the MARKET is consolidating but the consolidation isn't as strong as expected so please consider your RISKS for any Entry you act on, KINDLY also NOTE in 2 hour time frame we can see BULLS BUYING PRESSURE is decreasing dramatically, so this is also a possible earlier change in trend.
Generally speaking we are still on a BULLISH TREND which is about to change it's formation to a DOWNWARD TREND.
For those few words, i believe we all had a profitable day and let's pray we see a better day tomorrow.
CIAO!
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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.