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Gold- Today could be Pivotal Day for Market Direction"As explained in yesterday's video, Gold is still in a bearish structure overall. However, after the incapacity to break under 1855 during the trading day, I decided to close my short trade with a minimal 30 pips loss and decided to wait and see. As the title suggests, today is a very important day for Gold traders, and after inflation and FED minutes the direction could become more clear. On one hand, as I explained, Gold is still bearish overall, and a spike up and reversal during the day could reinforce this outlook and could very well put a top in place. On the other hand, a spike down and reversal to the upside or a direct rise and daily close near the top of the range could mean a reversal of the longer-term trend to the upside.
OANDA:XAUUSD
by Mihai_Iacob
26
EurAud- Drop to 1.63 zone again?Two weeks ago I warned about the possibility of a drop to the 1.63 zone for the EurAud pair. Indeed, the pair dropped, recovered quickly though, and got back above 1.65 again. However, looking at the daily posted chart, we could see that 1.66+ is a very strong ceiling and the pair keeps reversing from above that figure. At the time of writing the pair is flirting again with the 1.65 zone and we could have a break down soon. That being said, I'm bearish EurAud as long as the price is under 1.66+ and I expect another drop to 1.63
Short
by Mihai_Iacob
17
Bitcoin could dive soonAfter the reversal from 25k and the reach of my target at 28.500, Bitcoin started to consolidate. Friday we had a new attempt to reconquer resistance and bulls failed again and BtcUsd started to fall again. At the time of writing the price sits on confluence support, but the structure is not bullish at all and we could witness a break down In such an instance, the first target for bears is 25k horizontal support, but, in the longer-term 21k is not out of the question. I'm bearish on BTC as long as the price is under 28.500
BITSTAMP:BTCUSDShort
by Mihai_Iacob
9
GbpAud- Will it change the trend?Since last September, GbpAud was on the run, with the pair gaining 4k pips in 11 months. However, after touching the important 2.0 zone, the pair started to roll back down and gave back 1k from these 4k pips. At this moment, the pair is still in an up trend, but is trading very close to the ascending trend line and is flirting again with an old resistance zone. Yesterday's candle is a bearish engulfing that suggests a down move. Continuation to the downside could lead to a break of the trend line and, in such a case, the pair could drop to the next important horizontal level of support at 1.83
Short
by Mihai_Iacob
1
GbpJpy- Drop ofter confluence resistance test?In my previous analysis on GbpJpy, I said that the pair could rise and test confluence resistance at around 183. Friday's close found the pair exactly in that level and after the gap from Monday's open, the pair continued down. At this moment the pair is trading in the support given by the recent ascending trend line and a break above this level is probable. In such an instance, continuation is probable and the paint could reach the previous low. I'm bearish as long as the price stays under 183
Short
by Mihai_Iacob
4
USDCAD DAILY BREAKDOWN FROM A HIGHER TIMEFRAME VIEWPOINT Hello Traders, This the Daily Breakdown for FX:USDCAD on The daily timeframe we already took the monthly and weekly analysis you can check it on #Related ideas what new on this daily analysis! The daily analysis we find our Daily setup entry on a discounted o price with a clear P.O.I below the FVG " Fair value Gap " or IMB, that what we found and we also indentified the daily range and our next Target which is 1.3670. We gonna refine the OrderBlock on the 4H So stay Tuned For it!!
Long
by BlackWatch01
Silver- Bear trend is the name, sell rallies is the gameIn my Saturday video analysis, I said that Siver could drop and test the 21 zone. XagUsd dropped hard and even exceeded my target. After the low under 21, Silver started to consolidate and recovered some losses. The recent price action is carving a small double bottom on our chart that could lead to further gains. However, considering the strong down pressure, I do not recommend buying into correction but selling rallies above the double bottom's neckline A good place for searching entry signals is the zone between 21.50 and 21.80 The target could be set in the recent low zone at 20.80
OANDA:XAGUSDShort
by Mihai_Iacob
4
GbpCad could drop to 1.6After the low in September last year, GbpCad started to rise with a first very aggressive leg-up of 2500 pips from October to mid-December. However, after the top from December, the rise was contained in a big rising wedge to August, a double top marked the end of this rise and we have 3 very important breaks following: first, the break under the rising wedge's support, followed by the break of the neckline of the double top and finally the break under important horizontal support of 1.67. Recently the pair have made a local low in the 1.64 zone and now is in a recovery mood. Considering the 3 important breaks that you just talked about, we could consider a trend change for this pair and, this recent rise to test the broken support, now resistance, could offer traders an opportunity to join the recently formed bear trend. In conclusion, traders should look for signs of reversal and set a target at the 1.6 zone for their short trades. Note: when you set your stop loss, keep in mind that GbpCad is an extremely volatile pair
Short
by Mihai_Iacob
1
Gold- New low and reversal after?As I said yesterday, Gold is approaching a very strong support level, and considering the 1k pips drop in only a few days, a correction is probable. Yesterday's price action was very volatile, also suggesting the bottom is near. Although XauUsd could correct up without making a new low, considering the trend is strongly down, from money management and R:R perspective, only a buy in 1805-1810 would make sense. That being said, I'm looking to buy dips for a new test of yesterday's high.
OANDA:XAUUSDLong
by Mihai_Iacob
8
GbpJpy- Keep a close eye at 183.50 zoneAfter the high for the past 5 years close to 187, as it was normal, GbpJpy started to correct. Recently, the pair reached the 181 zone and here we have a small double-bottom, with its neckline broken yesterday. This suggests a continuation to the upside and a rise around the 183.50 zone. However, considering that this level acted both as support and resistance in the past 2 months and also is confluent with the falling trend line from the top, traders could look for opportunities to sell, in anticipation of a new leg down. The target could be set in recent's low zone and negation comes with a daily close above 184.50
Short
by Mihai_Iacob
7
AudJpy- Where to sell for 1:3 R:R?Yesterday, like all the Jpy pairs, AudJpy was also affected by the verbal intervention from BoJ. The pair dropped quickly 200 pips, but more importantly, it broke under important confluence support at 95. This level is offering now a good resistance point and, with the pair in recovery at this moment, rallies should be sold. In conclusion, prices close to 95 are good opportunities for bears and, considering a target at 92 next important support, a good 1:3 R:R could be achieved
Short
by Mihai_Iacob
UsdCad- Constructive price action after 1.34 testRecently, UsdCad dropped under 1.35 support just to test the next important support from 1.34. Since that low on 20 September, the pair started to rise again and now is trading back at the old support now resistance and important 1.35 figure. The rise is painting an ascending triangle on our chart and this usually means up continuation. A break above resistance would bring confirmation and the pair could rise back to test the 1.3650 zone. A drop under 1.3450 would put the pair in a range trading mood.
Long
by Mihai_Iacob
18
XAUUSD Trade ideas 4/10/23 winning streak!good evening gold gang! .. sometimes i amaze myself lol .. the analysis for this week has been scary to say the least .. absolute accuracy! The range were in currently is very messy .. look at all those wicks. We are consolidating for the news tomorrow as we have some heavy folders incoming! .. lets goooo price below the algo 1818 is also a lttle messy but theres a huuuuge support down there for price to retest. If you miss the sells to there, you will certainly need to hit the reversals no buys for me until the 1827 algo is closed above on the 4h So just wait gang! .. patience pays as always im working on an indicator! i cant wait to show you it .. it works great with the strategy follow along and dont miss the updates .. hit the like too please! catch you in london tommyXAU
OANDA:XAUUSD
by tommyXAU
11