#XAUUSD (Update) Forming Expanding wedge Pattern & Trying for Breakout in 4h Chart. In Case of Breakout, It Could Test 1750$ Resistance. If Failed to Breakout, then It Might Retest the 1640$ Support. I'm Expecting Support (1640) Retest Before Breakout..!! Please like the idea for Support & Subscribe for More ideas like this and share your ideas and charts...
Hello huyz and gerlz the gold lovers The chalk board analysis says gold going moon Why? Cus money love certainty especially when it is not so Is gold a safe heaven really? Noooooo cus gold is rather useless in production economy compared to other metals But who gives a f*ck? So you Don't give a f*ck too Tutorial complete go to next tutorial
XAUUSD (Update) In 8hr Chart, Gold Has been forming Rising Wedge Pattern & Heading towards the Major Resistance Area (1685-1690) If It's Failed to Clear the Major Resistance then Expecting Wedge Breakout towards the 1560-1570 Area. If Bulls Cleared the Resistance then Wedge Pattern Will be Invalid & It Might PUMP Hard towards the 1800 Area. Please like the...
What if I told you the dollar will be backed by XRP and XRP will be backed by BTC and BTC backed by gold? would you call me insane? Would you say I should walk away from this space now before I go too far down the rabbit hole? Well its just a conspiracy theory. And that is where it will sit but its kinda not too far-fetched of an idea when you see how this...
I am seeing divergence in GOLD and BTC. BTC seller pressure and GOLD buying...people are "unsure" in the economy as to what is happening, they don't even want to think about elections, brexit stuff is still happening, JPY yen is getting stronger and BTC has corrected almost 50% this year..Asia holds most of BTC so as it climbs so does Yen alongside trade wars with...
Analysis: -1hr structure continuation to the upside -70-79% rejection -MA Bounce/Reject -Long bullish hammer on MA -Previous Resistance becoming support -4 hr doji candle Emotions: -Woke up late and rushed -Wasn't even supposed to be able to look at charts this morning so grateful for that -Skimmed through analysis -Didn't read through my trading plan -Was...
My rules for trading this simple breakout pattern. 1. At least 5 points of contact within the pattern. 2. A breakout out of the pattern. This creates what I call the "Breakout Point" which is formed at the low wick of the candle. 3. Regardless of what price does after, we must see a breakout past the "Breakout Point." Regardless if we get a retest or not. Risk...
In this video I use the recent losing gold trade to talk about how to manage trades like a pro. You do this using 3 main principles 1)Risk small amounts of capital, 2)Don't over-trade, 3)Don't ignore counter-position price action.
Who wins? Bitcoin is definitely the prettier of the two xD Some info: George Soros famously called gold the ultimate bubble in 2010 due to declining interest rates which he felt would lead to the formation of asset bubbles ( link ), however didn't stop him from buying, first in 2010 ( link ) before the bubble burst and then later in 2016 ( link ). He sold off...
While trading, it is worth knowing that Japanese Yen closely follows Gold, both intraday and on bigger timeframes. Both instruments mirror each other. So, XAUUSD analysis are valid for USDJPY, only in reverse order, i.e. if XAUUSD will move up a few ticks USDJPY will move down the same distance. Safe trading! The chart above demonstrates this correlation. I chose...