XAUUSD 30/5/23 Outlook. What the hell just happened?God evening gold gang .. hope you had a great holiday weekend. Its back to work time! lets see whats going on
Ok at market close this evening, OANDA printed this huge candle sending myself and social media into uproar! It turns out that its just a glitch with oanda chart and having checked my broker feed and other charts, its just a one off.
I wonder how it will open though .. could this be a sign of things to come for gold?? let me know in the comments your thoughts.
either way due to zero movement today, or very little, the levels remain the same. Lets try to ignore that huge yellow candle shall we lol
Happy trading guys. Please like and follow along for more updates
TommyXAU
Strategy!
NZDCAD SHORT SETUP RR 1:2.5On NZDCAD, the price declined to the 0.8220 area, forming a bearish setup according to the guidelines of the Forex48 strategy. Therefore, the objective is to wait for a retracement to the 0.8240 area and then enter a short position with a target of 0.82 and a risk-to-reward ratio of 1:2.5.
Let me know your thoughts.
Happy trading to everyone.
XAUUSD Outlook 29/5/23. Dxy bullish 📈Good morning Gold Gang! hope you are well on this surprise outlook for bank holiday here in the UK and memorial day over in the US.
I honestly thought the market was closed .. ah well here we are
Im not expecting much volume today at all .. so the levels are there really to roll over to tomorrow. Sell zone is a nice clean range for it to move down .. dxy is still bullish respecting my levels so we can expect more downside for gold.
Buy zones kind of messy there with a few wicks and that fakeout from last week .. range above is cleaner but we will need some strong news to get up there i think.
Other than that, relax guys take the day off as i think it will be quite boring and dangerous taking moves with little volume.
catch you tonight for the tomorrows outlook where we will be back to normal (thank god!)
Please support me by hitting the like button and following along for constant XAUUSD updates during the day.
tommyXAU
BTC Approaching Resistance zone.As you can see on the chart, Using my strategy i have found a OTZ (Optimal trading zone), this particular zone has been tested Various times with price entering and exiting from here.
The zone is between $28,133 - $27,444.
- Looking for potential breakout out of this zone, once this happens I like price to re-enter this OTZ again to establish a strong support within the zone, this can help determine direction of the market.
- The strategy I use focuses on finding a double bottom pattern, I'll sharing my future Ideas that will explain my reasons of entering.
Thanks for reading, I am Richy from Limitless Trading Firm.
Cracking the Code of Bull and Bear TrapsHey Friends, let's dive into the captivating world of bull and bear traps. These traps can be quite the wild ride, so buckle up and get ready for some trading knowledge! A bull trap, my friends, is a sneaky maneuver by the market. It lures unsuspecting traders into believing there's a bullish breakout on the horizon. But guess what? It's a trap! The price quickly reverses and sends those traders into a tailspin, caught in a frenzy of false signals. Don't let the allure fool you!
Now, on to the bear trap. It's the flip side of the coin, my friends. Just when you thought the market was about to take a nosedive, it surprises you with an upward surge. It's like a magician's trick, leaving all those who bet on a bearish breakdown scratching their heads. Bam! The bear trap strikes, and those traders find themselves caught in a bullish whirlwind they never saw coming.
To navigate these treacherous traps, my dear traders, exercise patience and wait for confirmation. Don't jump the gun at the first sign of a breakout or breakdown. Look for additional indicators to support the move and keep a close eye on volume. Strong volume is the key, my friends! And don't forget to set those stop-loss orders, strategically placing them to protect your positions.
Now, remember, studying market structure and learning from past mistakes is essential. Analyze historical traps, dissect their patterns, and absorb every little detail. The more you educate yourself, the better prepared you'll be to dodge those cunning traps in the future.
So, my fellow traders, stay sharp, stay nimble, and stay ahead of those traps. It's a wild journey out there, but armed with knowledge and experience, you can conquer the trading world. May your trades be prosperous, and may you always stay one step ahead of those crafty bull and bear traps!
GBPUSD SHORT SETUP IS COMING On GBPUSD, we have a bearish setup after the news on the dollar and the possibility of a debt ceiling bailout. We have a price that, after forming a demand zone at 1.23200, rose towards 1.2440 where we have a supply zone with a highlighted short setup in blue. I will be looking for an entry point there.
Let me know what you think.
Happy trading to everyone.
What is an "R"? Discover the Most Popular Way to Manage RiskUsing R multiples is one of the most widely used strategies by professional traders for managing risk and tracking results. The R multiple concept is extremely easy to use and implement into your own strategy. With this simple idea, money management will become a breeze! If you have any questions or comments I would love to hear them!
Dow 4hour say= when pinbar comes,pick buy and hold when you see buy pinbar on 1hour or 4hour or daily chart ,pick buy with SL=pinbar low
wait time=2week
predict=dow,nasdaq,sp500 will see all time high again (35000) but with 2-3 mini crash
if you have old buys,dont fear, if red area break,hedge your buys
wish you win
XAUUSD TO THE 1880n XAUUSD, we have a market that is declining after reaching today's highs at 1985. The price is descending towards the 1960 demand zone where the price could potentially change direction and return to 2015. However, tonight the FOMC data will be released, which could push gold downward, breaking the 1960 zone and taking it down to 1885, where we have a significant low.
Let me know what you think.
Happy trading to all.
EURCHF SHORT TRADE RR 1:5On ERUCHF, we have a bearish setup with the price attempting to bounce back around the 0.971 area where we have a supply zone. In that zone, the market dropped, creating a point of interest (POI). Following the Forex48 strategy, I opened a trade with a 1:5 target ratio.
Let me know what you think.
Happy trading to everyone!
XAUUSD LONG TRADE - RR 1:3On XAUUSD, we have a primarily bullish setup that is currently retracing in the 1960 area and attempting to move back above 2000. My trade is based on the Forex48 2.0 strategy, which is a well-defined graphical configuration.
Let me know what you think.
Happy trading to everyone.
GBPAUD Setup Short & Setup Long On GBPAUD, we have a bearish setup around 1.869. As the price has been descending, it has formed a validated supply zone with two spikes around 1.8780. Following the Forex48 strategy, I have highlighted the entry zone defined as the Point of Interest (POI). The target for the short trade is expected at 1.8620.
Let me know what you think.
Happy trading to everyone.
GBPCAD SHORT SETUP H1On GBPCAD, we have a primarily bearish setup with a price that attempted to change its structure on Friday without success. This morning, the price created a short setup with the entry point highlighted in yellow. All of this follows the Forex48 strategy.
Let me know what you think.
Happy trading to everyone.
Forex48 Trading Academy
CADJPY SHORT STRUCTURE H1 - RR 1:1.5On CADJPY, we have a price that, after a bounce around 102.70, has returned to the level of 102 where we have a relatively insignificant demand zone. Coming down from a supply zone, the price has formed an interesting Point of Interest (POI) with spike convalidation, meaning it has formed a bearish setup with an entry at 102.54 level.
Let me know what you think.
Happy trading, everyone.
Forex48 trading Academy
Limitless Idea; S&P500 possible long.-Using the 4HR time frame I found a busy Zone which price previously entered and there was action.
- My strategy consists on locating a OTZ ( optimal trading zone), using the 4HR help locate the overall direction.
-I like to see price enter this zone above, once this is confirm then i will wait until price retest it for a new support area.
-My confirmation for new support area consists of a double bottom pattern with a hammer candlestick following the confirmation.
-Then, I use First Wick which created the OTZ along with ATR to locate my Stop Loss.
Limitless Trading Firm.
My A+ Trade Set Up when trading XAUUSD (Educational)Whats up gold gang! .. thought id drop in to show you how i enter my trades when they enter my zones. I set alerts here on trading view, then when price is approaching my zone, i get to the computer and lock in
Im looking for a clean break into the zone with a strong candle on the 15/30/1h
That candle must close
Next candle to open and do a small pull back to create a wick. This says to me no buying pressure is present.
Entry on the flip of the candle and break of previous candle
Target is placed.
Stop loss above previous candle high. Anything above that is invalid.
Of course i do things to manage risk and increase reward as the trade is moving, but they are personal to me. You will all have your own risk parameters im sure.
Thats it gang .. very simple, but as you can see .. very effective.
My zones work on any strategy, you could us smart money concepts, fibs, support resistance etc .. they will all work with my directional bias.
Hope this was helpful .. leave a like if it was and follow along for more XAUUSD updates
tommyXAU
AUDUSD LONG TRADE - TARGET RR 1:5On AUDUSD, we have a bullish setup this morning with a trade that started after defining a point of interest (POI) overnight, which is a bullish setup. The objective is to wait for a bounce around 0.6620 or enter around 0.664 if a bullish setup forms. The target is in the 0.76 zone.
Let me know what you think.
Happy trading to everyone.
Forex48 Trading Academy
GBPAUD Finally there is a long trade!On GBPAUD, we have a bearish setup that, after reaching highs around 1.8780, is heading back down towards 1.8620. To reach our point of interest (POI) zone, the market could bounce around 1.8680 before descending to 1.8620, where the long trade will initiate with a target of 1.8780.
Let me know what you think.
Happy trading to everyone.
EURGBP TO THE MOON - SETUP H1EUR/GBP shows a neutral structure with a price ranging between 0.8730 and 0.8670. The Forex48 strategy has identified a bullish setup for a long entry within a demand zone around 0.868, with a target of 0.8730.
Let me know your thoughts.
Happy trading to everyone.
Forex48 Trading Academy
NZDCAD Bullish Setup H1 - RR 1:3NZDCAD has formed a bullish structure since Tuesday, May 16th. Currently, we have a price that has established a demand zone around the 0.84 level, creating a bullish setup highlighted in yellow around 0.842. The objective is to enter a long trade with a target of 0.85.
Let me know your thoughts.
Happy trading to everyone.