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GBPUSD D1 - Long Setup (following daily correction)GBPUSD D1 - Wouldn't like to attempt to swing short this pair, due to it's aggressiveness, or any USD related pair for that matter, however, I would still be happy to indicated preferred buy zones upon relative corrections, regardless of where we head, we can simply prepare ourselves for buy opportunities amongst ***USD pairs, whether we pullback and realise them is another thing, we can just keep adjusting our entries and zone plays until something unfolds. Based on Fridays moves, I feel a correction could be due early this week, gold sitting at a key price on D1 resistance 1765.
Long
by Trade_Simple_FX
1
Analysis on XAUUSDGold created a double top on a monthly timeframe and then broke out of the neckline which tells us that the trade reversal is a very strong one. we're expecting it to drop down to the next support zone which is 1400. on the weekly timeframe, we can see gold break out of a dynamic support trend line then go down to the monthly timeframe neckline, reverse to hit the previous resistance zone before falling which also tells us that there was a break and retest from the weekly dynamic support trendline. we can also see gold creating a pullback then I drew the fibonnaci from the swing low to the swing high(the retest of the trendline) and we see gold get to the 0.618 fib level and then begin to fall again. with all these, I strongly believe gold is falling massively to the next support zone. it will get there next year lol so its a massive swing trade. SHORT GOLD.
FOREXCOM:XAUUSDShort
by zilotheman