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U.S Labour Day - "Thin Market"Just a gentle reminder to my fellow retail traders, beginners traders to be exact (professional traders, stay away! - This could be a patronizing post), today is U.S Labour Day. The banks are closed. The massive movers of the price are indeed the banks, so when they are closed, even though we can still trade USD pairs today, expect a very very small range price action today. The USD based pairs I am referring to even include Gold, XAUUSD and WTI/USD-Brent). Don't ask me Bitcoin vs USD. No clue about that! I roughly looked at Labour Days in 2016, 2017 and 2018 for the world's most liquid currency pair on the planet, the ranges at those days were indeed well below the average daily range at the time (Average = Avg 10 days +Avg 20 days + Avg 30 days). Cross pairs are game for today, their ranges are normal. Happy Trading!
by sufiansaid
Gold Short BiasWelcome to everyone! This is xauusd analysis. As we have seen previous price action of xauusd. Price just smashed previous higher time frame strong areas and rallying steadily. So we have another monthly strong area on 1550. Which is not easy to break. I hope we can see a good drop when market reaches there. We don’t use indicators, news or anything we just see supply and demand clear imbalances which give us plus odds. So short bias on xauusd. Best of luck. Happy Trading
FX_IDC:XAUUSDShort
by saqibrajaforexgroup