Neutral
GOLD REQUIRES PATIENCE TO TAKE ACTIONDear Trader,
I am actually very conservative when it comes to trading gold and each time I take my time to wait for price action, winning is always inevitable except for unexpected fundamentals changing the expected direction.
Right now, all I can see is that gold is still bullish on the daily and might be too early to assume a downward reversal on higher time frames above 4Hrs.
I see three possible scenarios indicated on my chart and would wait for any of the three to play out before taking any trade.
I will also advise traders to be very patient with the metal.
Happy trading
Thoughts on CADJPY (bearish flag)At this point there's a strong consolidation on the price. But if you see careful there's a flag pattern formed on that conoslidation that can mean a short position. If that happens, we'll wait for the zone where a bat pattern may be formed. Anyway, if we decided to trade, I recommend to reduce risk because of the consolidation. TP will be the green line and SL will be the red line.
Do you have any other ideas? Let me know on the comments.
Short and Long Iron Condor QQQ 05 May 2022We can estimate with a 79% confidence that the volatility for today is going to be below 2.24%
For this the market will stay within
TOP 337
BOT 322
At the same time We can estimate with a 86% confidence that the volatility for today is going move more than
0.41%
For this the market will stay above the
TOP 331
BOT 328
From the fundamental point of view, yesterday we had the release of the interest rates, so I believe currently we are in a short relief moment, where we can have for some days/weeks a small bull trend
For today we have no big volatility news, so we cant expect big surprises.
Having said that we have 2 different ways of trading for today
IRON CONDOR for the first option, with the 337sell 340buy Call / 322sell 319buy Put
Reverse IRON CONDOR for the second option with 330buy 333sell Call/ 328buy 325sell Put
Short and Long Iron Condor SPY 05 May 2022We can estimate with a 86.4% confidence that the volatility for today is going to be below 1.75%
For this the market will stay within
TOP 436.6
BOT 421.5
At the same time We can estimate with a 86% confidence that the volatility for today is going move more than
0.33%
For this the market will stay above the
TOP 430.4
BOT 427.6
From the fundamental point of view, yesterday we had the release of the interest rates, so I believe currently
we are in a short relief moment, where we can have for some days/weeks a small bull trend
For today we have no big volatility news, so we cant expect big surprises.
Having said that we have 2 different ways of trading for today
IRON CONDOR for the first option, with the 436sell 439buy Call / 421sell 418buy Put
Reverse IRON CONDOR for the second option wiht 430buy 433sell Call/ 427buy 424sell PUT