GOLD: A Bearish Trading SetupBearish Breakdown Setup
**Summary
Analysing Price action from yesterday we have got a very nice distribution leg push that broke down below our accumulation zone a good indication of downside momentum, therefore the anticipation is that price will retest our BOS an ideal zone to look for bearish setups.
📉 XAUUSD Daily Breakdown Potential setup
🔴 Distribution leg: 3366.425 - 3320.305
📉 Sell level: 3341 (BOS)
🎯 Target 1: R:R 1:2
🎯 Target 2: R:R 1:3
🎯 Target 3: R:R 1:4
🛑 Stop Loss: Above Resistance Zone
🔍 Watch: Failure to break back in = Confirmation
LIKE or COMMENT if this idea sparks your interest, or share your thoughts below!
FOLLOW to keep up with fresh ideas.
Tidypips: "Keep It Clean, Trade Mean!"
Intradaytrades
XAU/USD 06 Feb 2024 Intraday AnalysisH4 Analysis:
-> Swing: Bullish.
-> Internal Bearish.
-> Has reached EQ.
Price printed double bullish iBOS to confirm swing pullback phase is complete.
Currently internal structure remains bearish.
Expectation remains as H4 analysis dated 05/02/2024, for price to continue to trade bearish to target weak internal low.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
-> Sub-Internal: Bullish.
-> Has reached EQ.
Following swing BOS price very aggressively pushed to the upside.
Price has printed a bullish iBOS where we are now in the pullback phase.
Sub-structure to internal structure, which is marked in red has now printed a bullish iiBOS.
Intraday expectation is for price to target weak internal high.
M15 Chart:
S&P 500 Futures Potential ShortAnyone trading ES Futures?
ES Futures are near strong Resistance level ( 3024,75) , forming Ending Diagonal.
Resistance Zone 3024,75 -3027,75
Intraday Long trades only above Resistance zone.
Empire State Manufacturing Index 4.3 ( better than expected )
Strong Empire State... could generate temporary rate hike fears.
Thinking about intraday short....