Just got into some Gold Buys, Anyone else ?Just entered some Gold Buys
Reason for buys :
Highly oversold
Divergence
Support formed at 1944
(Detailed Analysis to be added.)
Entry Point 1944.28
Stop loss: 1939.99 (50 pips)
Take Profit 1 & Stops to entry Point: 1949 (50 pips) 1:1 RR
Take Profit 2: 1954 (100 pips) 1:2 RR
Buys
Gold W Buy Idea 5/20/23Gold is still at all time highs at the moment, so I am still not sure if it will go higher and break the previous month high (PMH)/the monthly high from 3/1/22 again OR break and retest this weekly (W) zone that it is currently playing in and go bearish again. I do know that there is a M liquidity zone + a W B (buy) FVG (fair value gap) right under where price is currently at.
For the STRATers, The W has formed a 2-1-2d-Rev.
So what I would like to see price do is break down to the W B FVG and bounce back bullish to hit the PMH(s).
Potential Gold buys over 1954.68Looking for more potential buys at 1954.68 - normal trading approach.
Rejection at 1939.14 caused price to reverse holding support around that area. London preparing to have enough volume for us to breakthrough past over 1954.68. I believe price will have enough momentum to break resistance at 1953.98.
Gold D Buy Idea 5/6/23Gold is currently at all times high on the charts that we have access to, so I do not know if price will continue higher. Looking for price to either continue bullish from where it is OR actually close inside the current D FVG and then continue bullish to take out the previous week high. However the FVG is fully mitigated, so we shall have to wait and see what the market does at open for the week.
Gold 4H Buy Idea 5/6/23Gold has created a 4H sell FVG that price could buy back up to OR break thru. So I will enter a buy into the FVG + for those who know The STRAT see that a failed 2d was created followed by a 2u, which is a double confirmation that price should at least go to the 50% of the FVG.
Gold D buy idea 4/16/23Monthly is still bullish. Weekly just did a break and retest over the past 2 weeks. Overall I am still bullish on gold, so I am looking for price to continue bullish this week. HOWEVER last week did make a bearish engulfing on the daily. Meaning price could sell short term to complete the M pattern that the Daily candles are forming. Time will tell. So we will see what happens at market open. I am still going to enter a small lot for a buy to the 3/1/22 monthly high of 2070.46.
USDJPY Longs to 134.500!Reading price action we can see that USDJPY has shifted up in momentum creating higher highs and higher lows. The price has now broken previous areas of interest and is now testing as new support. Reading the structure we can see the price is creating an inverted head and shoulders in confluence with a flag formation. Notice how the price has failed to break this zone with the long-wick rejection we are seeing at 130.500. If the price manages to hold above this zone look to buy back up to 134.500 key psychological zone. If the price manages to break we must reevaluate price action. Use proper risk management.
AUDNZD Longs to 1.11500!Reading the daily time frame we can see price is on an uptrend creating higher highs and lows. Price has broken above a previous area of resistance and is now holding at support with signs of rejection. If the price manages to hold above 1.09000 we can see the price reach 1.11500 key psychological. If the price manages to break we must reevaluate price action.
Omer Kambal
2/5/2023
ChartAddicts
This is not financial advice. The information shared is the opinion of a Chartaddicts analyst. Please do your own research.
xauusd gold analysis second week of december 2022Hello fellow traders and gamblers,
The areas highlighted with the rectangle box are gaps which have to be filled in the upcoming months.
Upon doing research and countless hours of studying, 2023 will mark the year of recession and gold rallying to new all time highs. This is evidenced by the 2007 crash which saw gold rally to new highs by 2013. We are following the same trend which started from late 2019 prior to covid outbreak. We are getting into the 4th year and gold has yet to set a surprisingly new all time high way above 2070.
I cannot tell you which way the market will go but you can see in the chart is liquidity points which institutions and banks have bought and sold from.
Good luck!
XRPUSD targeted soon, TP 1$ and up!The crypto pair xrp/usd has got our attention instead of dogecoin that has limited capacities, instead of dogecoin we are now now targeting longs in xrpusd.
The pair could expirience a very bullish run like it just did, the coming Monday at 8.30 am est time.
I'm expecting xrp to hit 1$ soon from now, and so on 2$,3$... and up.
During this week I expect high volatile in the pair, and many interest going to be driven into it, creating more liquidity and volatility.
All eyes on this crypto for the next 10 days.
GBPUSD Intraday Short buy, an Elliot Wave perspectiveGBPUSD 4H An intraday outlook for Monday. On the Daily and Weekly TF, the momentum is still bearish. On 4H, the price is currently in the premium zone for sellers and it is in an ABC corrective stage. It is currently at a 50% retracement of the recent bullish impulse. If this failed engulfing area coupled with 50% retracement area holds, we would look for possible short buys for GBPUSD to complete its C wave. First target for short buys is the Swing High. Alternative outlook: If the area of the failed engulfing and 50% doesn't hold, we would look for a breakout of that area and look for a confirmed bearish structure on the LTF.
Double BottomUS stock market has been crashing since Nov 21, Nasdaq100 is now at the support level which prints a famous and the legendary chart pattern "Double Bottom" Now this may be right time to take the long positions. Are Bulls taking over? Is this the end of the bear market? Its either you download money with us or watch us downloading money. Let's Download Success.