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CHFJPY - FINALLY WE HAVE A LONG SETUPOn CHFJPY, the market is forming a long setup following the Forex48 strategy. The setup is around 153.15, where we have a strong demand zone created on May 18th. Therefore, I expect a retracement at this level before entering a long position with a target of 155.40. There is a supply zone at that level, and the price may even break through it to continue the upward momentum. Let me know what you think. Happy trading to everyone. ❤️Please, support my work with like, thank you!❤️
Long
by Forex48_TradingAcademy
XAUUSD Outlook 31/5/23. Very strange price action 🤔Good evening gold gang! hope you are well and survived todays price action. We started off with a 100 pip fall down to the key level in asian session .. the first in a while with any volume. Then a correction in London followed by a push through for a total of 400 pips of movement, 300 in once direction. A nugget here for you guys, Gold normally moves in corrections. What i mean by that is if it runs one way in london, you will usually see the reversal in NY. shh. Dont tell anyone My zones and targets were met, but not tradable as the price action did not line up. The 1m strategy, which im calling Gold Gang Concepts , did well and i managed to bag a few pips with it. Not bad. Ok the zones for tomorrow .. the buys are very nice with clean traffic to the left .. nothing to stop it hitting target should we get a close up there. Sells a little further away at 1944 to allow room for anything untoward in asian. We are ignoring the spike up from Monday as ive put on the charts. Ok gang happy trading .. shoot me a comment if you have any questions and follow along for constant updates during the day. TommyXAU
OANDA:XAUUSD
by tommyXAU
13
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
OANDA:XAUUSD
by tommyXAU
5
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
OANDA:XAUUSD
by tommyXAU
15
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.
by LimitlessRx8
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!
Education
by FortuneAI
1