Anticipating tradesApplying following trade strategy:-
Bullish trend
No divergence
Bullish Cup & Handle continuation pattern
Bearish rising wedge reversal pattern
No harmonics
Bulls=2,Bears=1
Trade on break out of HH
Tradingstrategies
Anticipating tradingApplying following trading strategy:-
Bullish trend
No divergence
Bullish Ascending parallel channel continuation pattern
No reversal pattern
No Harmonics pattern
Bulls=2
Trade on break out of HH
Anticipating trades through trading strategyApplied following trading strategy
Bullish trend
Bearish divergence
No continuation pattern
Bearish Head & Shoulder reversal pattern
No Harmonics pattern
Bulls=1, Bears=2
Wait for break out of neckline of right shoulder for taking trades
EURUSD Analysis: Anticipating a Slight Bearish Bias Towards 1.1!EURUSD Analysis: Anticipating a Slight Bearish Bias Towards 1.10000 (24/09/2024)
As we analyze the EURUSD pair this week, a slight bearish bias appears probable, with a target near the pivotal level of 1.10000. Key drivers for this outlook include the recent economic data releases, central bank policies, and market sentiment.
1. Economic Data:
Recent Eurozone economic indicators have shown mixed results, with weak manufacturing PMI figures suggesting slowing growth. Conversely, US economic data, particularly strong job numbers and retail sales, point to a robust economy, potentially strengthening the dollar.
2. Central Bank Divergence:
The European Central Bank (ECB) is likely to maintain a dovish stance amid economic uncertainties, while the Federal Reserve appears committed to a tighter monetary policy. This divergence could exert downward pressure on the euro.
3. Market Sentiment:
Increased risk aversion due to geopolitical tensions may lead investors to favor safe-haven currencies like the USD, further supporting the bearish outlook for EURUSD.
In conclusion, the combination of economic fundamentals, central bank policies, and market sentiment suggests that EURUSD may trend towards 1.10000 this week. Traders should stay alert for potential market shifts and adjust their strategies accordingly.
Keywords: EURUSD analysis, bearish bias, economic data, central bank policy, ECB, Fed, market sentiment, forex trading, trading strategies, 1.10000 target.
XAUUSD Flag Breakout Mastery – 100 Pips in Just Hours!You executed a fantastic trade on XAUUSD, capturing a solid 100 pips in 3.5 hours. However, there were additional techniques you could have employed to potentially capture more of the overall move:
Higher Time Frame Confluence: Ensuring the overall trend aligns with the smaller time frame breakout can give you confidence to hold for bigger moves.
Trailing Stop Strategy: This could have helped you lock in profits while giving the trade room to continue further.
Recognizing Momentum: The impulsive nature of the move post-breakout was an indication to hold the trade longer. Momentum trading often provides an opportunity for a bigger run.
Extended Targets: using Fibonacci extensions could have encouraged you to hold for additional profit.
Complete Trade Walkthrough
1. Entry Analysis:
Pattern Recognition & Confluence:
Descending Flag (Bullish): You identified and entered at the top of a descending flag, which is a continuation pattern in a bullish market. The breakout from this flag confirmed the upward momentum, making this a high-probability trade.
Confluence Factors:
Breakout Confirmation: Price broke through the descending resistance line, signaling a continuation of the bullish trend.
Support Zone: The prior lows acted as strong support, providing additional confidence that the price would move higher after the breakout.
This was an excellent, well-timed entry based on price structure. You entered right as the market broke out of the flag, aligning with a momentum-based strategy.
2. Price Action (PA) Analysis:
Impulse and Correction Structure:
Impulse Move: After the breakout, price made an impulsive leg upwards, which you capitalized on. This impulsive move is common following a flag pattern breakout, and the price shot up quickly, reflecting a strong buying pressure.
Correction: You entered just before the impulsive leg, after a period of corrective consolidation, which validated your timing. Once price pushed up, there was a brief consolidation before continuing the uptrend.
Momentum Continuation: Price made higher highs after your exit, indicating that momentum was still intact.
The price action displayed clear continuation signals following the breakout, suggesting that the market was still trending upwards.
3. Trade Management:
Time in the Trade:
You were in this trade for 3.5 hours, which aligns with the short-term nature of this flag breakout. However, the trade ran further, reaching up to 350 pips.
Profit Targeting:
Initial Take Profit (100 pips): You wisely took 100 pips as price approached a prior high. However, the fact that price continued upwards suggests that you might have captured more pips using alternative techniques.
Exit Consideration:
100 Pips Exit: While exiting at a previous high is logical, the lack of signs of reversal (e.g., no strong bearish candles or rejection at key resistance levels) indicated there was still room for the move to extend. The price continuing upward shows that the bullish momentum was strong, and you could have held on for a larger move.
Stop-Loss Placement:
You didn’t mention your stop-loss, but if you placed it below the structure of the flag (and adjusted it accordingly), this would have allowed you to reduce risk and hold for a longer run.
4. Potential Improvements:
Higher Time Frame Analysis (HTF Confluence):
HTF Context: Had you zoomed out to a higher time frame (1H or 4H), you may have seen that the breakout was part of a larger bullish trend, indicating there was potential for the move to continue beyond the 100-pip target.
Price Momentum: The momentum post-breakout on smaller time frames was strong. Checking the HTF would have given more confidence that this wasn’t just a short-term spike, but rather part of a more significant trend.
Trailing Stop Strategy:
Trailing Stops: Once your trade was 100 pips in profit, instead of closing the position entirely, you could have moved your stop-loss up to lock in some profits. This way, you could ride the larger move while managing risk.
Example: After 100 pips, trail your stop just below the previous consolidation or a key structure (e.g., 50 pips back), allowing the trade to breathe and move further in your favor.
Extended Profit Targeting:
Fibonacci Extensions: By using Fibonacci extensions, you could have projected extended profit targets beyond the initial 100 pips. Typically, a flag breakout can lead to an impulse equal to the size of the flagpole, offering more opportunities to scale out of the trade gradually.
ANTICIPATING TRADEAnticipated trade, by applying following trading strategy:-
1. Bullish trend
2. Bearish divergence
3. No continuation pattern
4. No reversal pattern
5. Bearish butterfly harmonics
Anticipated bearish divergence and initiated two trades by using sell stop
“USDZAR on a Downward Trend”The South African Reserve Bank has reduced the policy interest rate to 8.00%. Following this move, the reversals at the 17.40 level in the USDZAR pair have drawn attention. The Fed had unexpectedly cut rates by 50 basis points at its September meeting. This situation has led to significant losses in dollar assets, while we can observe that any increases in the USDZAR pair remain limited.
From a technical perspective, if the exchange rate surpasses the 17.70 level, rises may initially extend to 17.95 and then to the 18.20 resistance level. On the downside, if the 17.40 level is breached, we could see a decline to 17.15 and then to the 16.90 support level.
Unlock the Market's Hidden Rollercoaster: How to Ride the WavesXau/Usd Review with my trading personality
As a Whimsical Rollercoaster Enthusiast, your trading style is likely driven by the excitement of quick market movements and the thrill of capturing early trades. You're probably someone who thrives on dynamic entries, enjoys the fast-paced action, and may have a more intuitive approach to the market. Let’s blend that with risk management to balance your adventurous spirit while still keeping a solid trading plan.
Technical Review for a Whimsical Rollercoaster Trader:
1. Key Levels to Watch:
2,595 (Resistance) and 2,580 (Support) are your playgrounds right now. You’re drawn to the thrill of what might happen at these zones.
If price pushes toward 2,595, you might feel an urge to jump in, expecting an immediate reaction. However, I encourage you to:
Embrace your adventurous nature but temper it with tactical precision.
Let the level hit and then wait for a quick confirmation (like a wick rejection or a mini pullback). This gives you both the excitement of early entry and higher probability without losing your edge.
Scenario: Price pushes toward 2,595. Here, your Risk Entry could be triggered:
Risk-Entry Plan:
Enter short at the first rejection of 2,595.
Set a tight stop-loss just above the liquidity zone (2,600), respecting your love for quick moves but protecting from being shaken out too soon.
Target the 2,580 area first, knowing the ride might be wild but worth it.
Why it suits you: It’s a quick decision, satisfying your need for speed, while the tight stop-loss aligns with managing risk. You get that thrill, but within guardrails.
2. Confirmation Entry – Building Momentum:
Confirmation Entries might feel a bit “slow” to you, but they can help ensure you stay in the game longer. Consider them when you want to ride bigger moves, not just quick scalp trades.
Scenario: If price breaks through 2,595, wait for a retest to confirm this zone is now support. Here’s where you bring in your whimsical nature: instead of waiting too long, spot a smaller timeframe pattern, like a bullish engulfing candle or a rejection wick, and go long.
Confirmation-Entry Plan:
Enter long at the retest of 2,595 after a clear rejection pattern. Think of it as waiting for the next loop on the rollercoaster — the bigger move is coming, and you want to be on board for it.
Set a slightly wider stop-loss, maybe under 2,580, to allow the trade to develop without getting knocked out early.
Aim for the next higher liquidity zones, like 2,600 or 2,615.
Why it suits you: This method still lets you catch the excitement of a momentum breakout, but the confirmation gives you more confidence. You still get the rush but with less risk of getting thrown out before the big move.
3. Patterns Within Patterns – Your Playground:
As a Whimsical Rollercoaster Enthusiast, you probably love when the market shows intricate patterns — they're like hidden rollercoaster tracks, revealing sudden twists and turns.
Scenario: If price breaks above 2,595, zoom into lower time frames and look for miniature patterns within the broader trend. You might find a bull flag within a larger ascending channel. Entering on these small corrective patterns can satisfy your need for fast-paced decision-making while riding the overall trend.
Plan:
Use these smaller patterns for quick entries. Set your stops just outside the pattern, and take profits quickly as the price breaks out.
Think of it as riding the small waves, but always looking for the bigger momentum move to follow.
Why it suits you: You’re jumping in on short-term opportunities while always keeping an eye on the next big move. This keeps you engaged and allows you to take action when you feel that burst of adrenaline without losing sight of the bigger picture.
4. Managing Whimsical Risk:
Stop-loss flexibility: As someone who enjoys spontaneity, a tight stop might feel restrictive but necessary. Here’s the compromise:
Set initial stops tight (like just above 2,595 if shorting), but allow yourself room to evolve the trade based on market action. If the trade moves in your favor, quickly move the stop to breakeven.
Mental Resilience: Losses will happen, but you need that mental discipline to jump back in without chasing every tick. Treat each trade like a separate rollercoaster ride — whether it’s a good or bad one, there’s always another one coming.
Use your intuition and excitement to recognize evolving setups. But keep a few rules in place to avoid the pitfalls of impulsivity (e.g., no more than 3 trades per day on a single idea to avoid over-trading).
5. Incorporating the Rule of Three:
For the rollercoaster trader, the Rule of Three is your ultimate guide. This rule asks you to identify at least three confirming factors before entering a trade:
Scenario: Price reaches 2,595:
You see a rejection (touch #1).
The lower time frame shows consolidation or a mini bear flag (touch #2).
Momentum begins to fade (touch #3).
Action: This triple confirmation allows you to short confidently, knowing you have the right mix of signals to back your bold entry.
Why it suits you: The Rule of Three still gives you the excitement of quickly entering trades but ensures they are high-probability setups. It prevents you from overtrading out of sheer excitement while still letting you capture those thrilling moves.
Summary Action Plan for a Whimsical Rollercoaster Trader:
Risk Entry: When you feel the market is ready to react at key levels (like 2,595), dive in! But do it smartly — use tight stop-losses and a quick decision-making process. Think of it as jumping onto the coaster right before it starts moving.
Confirmation Entry: Use this when you're looking for a bigger, smoother ride. Wait for the breakout-retest combo, then get in for the larger trend move. Stay patient here; it’s worth the wait.
Patterns within Patterns: Zoom into the mini rollercoasters inside the bigger structure. Catch the small waves but keep your eyes on the longer ride.
Trinity Rule : Ensure three factors align before entering. This rule keeps you disciplined while still embracing your whimsical nature.
KOG's RED BOXES - SILVERSILVER:
Key level here is 29.63 with the bias being bullish above.
Retracement needed with support just below at the red box which will need to break to go lower.
Have a look at the previous pinned posts on Red boxes to familiarise yourself with how they are so effective in keeping traders the right side of the markets.
Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated.
As always, trade safe.
KOG
ANTICIPATING TRADEAnalyzed XPTUSD by applying following trading strategy steps:-
1. Bearish trend
2. Bearish divergence
3. Double top bearish reversal pattern found in the end of bullish trend and before start of bearish trend
4. Anticipates a bearish trend, and initiated two trades with 1 % risk thru sell stop
ANTICIPATING TRADES BY APPLYING TADING STRETEGYAnalysis of EURUSD Forex pair carried out on 12 Sep 2024 by applying following trade strategy:-
1. Bearish trend
2. Bullish Divergence
3. No continuation pattern
4. Double Bottom reversal pattern formed
5. Bullish Harmonics pattern AB=CD pattern formed and chart near point D, PRZ
6. Anticipated that chart will go bullish by making HHs & HLs
7. Initiated two trades on MT4 by marking buy stop on first HH and stop loss at LL as no HL is still formed
10:1 Risk-to-Reward Setup - Bull Flag Breakout with Multi-TimeThis trade setup shows a confluence of multiple factors, aligning with a high-probability approach. Here's the breakdown:
Bull Flag Breakout:
The trade initiates after identifying a bull flag, which is a common continuation pattern following an impulsive upward move. This flag signals consolidation before a further upward push. The breakout from the bull flag gives a strong entry point.
Entry Criteria:
The entry was placed at 2560.404, slightly above the breakout area, ensuring momentum confirmation.
A Stop-Loss (SL) of 30 pips was positioned below the structure, protecting the trade while allowing enough room for price fluctuations. This is crucial to avoid tight stops that may trigger prematurely.
Key Support/Resistance Levels:
5M Lower Time Frame (LTF) S/R: This level acts as a lower frame confirmation zone, ensuring support below the bull flag breakout.
15M Support/Resistance (S/R): The larger structure aligns with the 5-minute support, adding strength to the trade by recognizing that price is supported by multiple timeframes.
Target (TP) and Higher Time Frame (HTF) Confluence:
300 Pips TP is based on the HTF Trendline, offering a solid risk-to-reward ratio of 10:1. This suggests the trade is aligned with a broader market trend, increasing the probability of success.
Zone of Liquidity (LQZ):
5M LQZ represents a liquidity grab, further confirming that the market might push upwards after grabbing liquidity near support.
Key Confluences:
Multi-Timeframe Analysis: Price action supports the move on both lower and higher timeframes.
Risk Management: A well-defined stop-loss ensures minimal risk with a substantial reward target.
Pattern Identification: The bull flag within the trend adds reliability, as flags in impulsive moves offer strong continuation signals.
This trade follows the "Rule of Three," where at least three confirmations (bull flag, multiple timeframe support, and risk/reward alignment) give the highest probability of success.
BTCUSDT: IDEA THAT MIGHT RESONATE SOONHello All,
Welcome to the quick update of BTCUSDT . We have seen BTC touch the levels of $ 52500 and retrace a bit until $ 58000 but couldn't hold it.
We can see it dumping and is currently trading around $56100.
The next levels to watch out for are $54700 and $53800 . If this holds, we can see BTC pump again and might make a new high in a few months.
Support levels: $54700. $53900, $49600 in the long run.
Resistance levels: $58027, $61100, $64000, and $72000 in the long run.
Let's wait and see how this pans out. Until then, stay tuned and trade with caution, ensuring strict STOPLOSSES !!
This is not financial advice, please do your research before investing, as we are not responsible for any of your losses or profits.
Please like, share, and comment on this idea if you liked it.
ScramblerG is always there to help and trade with caution but DYOR.
Why Most Traders Fail—and How You Can Succeed!The charts you provided showcase potential scenarios based on different liquidity zones (LQZ) on multiple timeframes, such as 15M, 1H, and 4H. Let's break down the key insights from the images:
Key Levels:
Weekly Flag Trendline: This yellow trendline represents the long-term trend and acts as a major resistance or support. It’s crucial to monitor price action around this level for significant moves.
4HR LQZ (Liquidity Zone) at 2,532.077: This level signifies an important area of liquidity on the 4-hour chart. It’s a potential reversal point or continuation area depending on how the price interacts with it.
1HR LQZ and 15M LQZ: These shorter timeframe liquidity zones are at 2,482.129 and 2,470.544 respectively. They act as interim targets or bounce zones based on the smaller trend movements.
Price Action Context:
Wedge Formation: The rising wedge pattern visible in all the charts, combined with slowing momentum near the top, suggests possible bearish pressure. Wedges often lead to sharp breakouts, so a breakout to the downside would align with the wedge structure.
Multi-Touch Confirmation: The multiple touches on trendlines, both support and resistance, increase the probability of significant movements. This concept is supported by multi-touch confirmation techniques.
Scenario Planning:
Upside Potential: A breakout above the 4HR LQZ suggests further bullish momentum, likely toward higher liquidity zones. This can result in a continuation to the upside, as shown with the green line projection on some charts.
Downside Risks: A breakdown below the wedge support and failing to hold the 15M or 1HR LQZ may lead to a bearish move toward the lower liquidity targets. The yellow line projections suggest a pullback to 2,485.055 and potentially lower.
The Trinity Rule Approach:
Confluence Setup: If price interacts with three major zones (like the 4HR LQZ, wedge support, and Weekly Flag Trendline), we can assess whether these align with other signals. This rule adds extra confirmation for higher-probability setups, as discussed in your document.
Overall, price action shows a decision point around the wedge and liquidity zones, with strong reactions expected in either direction.
What I'll be looking for USOIL on next few days.The price is at a crossroads and tomorrow's data will be, as always, decisive for the decision-making that will direct the market in the coming days. I will be waiting for this most likely downward movement, but always paying attention to what the price shows at any given moment. Be careful, trade safely and stay calm. I wish you all an excellent trading week!
This Simple Strategy Could Make You a Fortune in the Gold Marketprice action of Gold Spot (XAU/USD) in relation to the trendlines and patterns indicated.
Chart Analysis
1. Weekly Flag Trendline:
- The first chart shows a trendline forming a "flag" pattern on a higher time frame (possibly weekly or daily). This flag appears to be a bullish continuation pattern, indicating that after the consolidation within the flag, the price might continue in the direction of the prior trend, which seems to be up.
2. Price Action Inside the Flag:
- Within the flag, there is a period of consolidation marked by the parallel trendlines. The price has been respecting these lines, creating higher lows and lower highs, indicating indecision or preparation for a breakout.
3. Potential Breakout Zones:
- Key breakout zones are marked by the upper resistance of the flag pattern around the 2,530 level and the lower support trendline of the flag around the 2,470 level. A breakout above the upper resistance could signal a continuation of the prior uptrend, while a break below the lower support could indicate a reversal or deeper pullback.
4. Smaller Patterns:
- On the second chart (1-hour time frame), there's a more detailed view of recent price action with a potential bearish flag or pennant forming, suggesting a temporary pullback or consolidation within the larger flag. This smaller pattern appears to be within a trading range bounded by the horizontal support and resistance levels.
5. Key Support and Resistance Levels:
- The charts show horizontal support around the 2,433.301 level, which aligns with a historical low that could serve as a significant support level. Similarly, the resistance level is around 2,530, where the price has repeatedly failed to break above.
6. Current Market Context:
- The price is currently hovering around 2,497, near the middle of the trading range, suggesting indecision. This midpoint could be a neutral zone where the price could move in either direction based on upcoming market momentum or news.
Trading Strategy and Considerations
- Entry Points:
- If considering a bullish scenario, a long entry could be planned near the lower support line of the flag, around 2,470, with a stop loss slightly below the flag's support to manage risk. A breakout above the 2,530 resistance could also provide a good entry point for a continuation of the uptrend.
- For a bearish scenario, a short entry could be considered if the price breaks below the 2,470 support level, confirming a breakdown from the flag pattern.
- Risk Management:
- The proximity of the price to both upper and lower boundaries of the flag pattern provides clear levels for stop placement. This helps in managing risk effectively, keeping losses contained if the trade goes against the initial bias.
- Monitoring Price Action:
- Watch for potential breakouts from the smaller patterns within the flag, as these could provide early signals of the larger move's direction. It would also be essential to keep an eye on volume changes, as increased volume could confirm the validity of a breakout or breakdown.
By aligning your trades with these patterns and key levels, you can take advantage of the potential setups provided by the price action within these consolidating formations. Ensure to adapt to new market conditions and stay disciplined in executing your trading plan.
GBP/USD Strategic Insights: Q3 Breakouts and Q4 ProjectionsAnalyzing GBP/USD: A Journey Through Accumulation, Breakouts, and Forecasting
Q2 2024: The Accumulation Phase
During the second quarter of 2024, the British Pound entered a pronounced accumulation phase. Institutional buyers were actively engaged, positioning their trades to capitalize on future movements. This period set the stage for subsequent price actions and was crucial in understanding the currency's resilience.
Q3 2024: Strategic Movements and False Breakouts
As the third quarter commenced, the GBP/USD experienced a deceptive breakout to the downside, aligning perfectly with the Camarilla pivot support levels at S3 and S4. This false move highlighted the strength of these levels as key support zones, underscoring why initiating short trades—common among retail traders—was strategically questionable at this juncture.
By June 2024, the GBP/USD climbed towards $1.2800, briefly entering a distribution/accumulation phase, which prepped the market for an anticipated bullish continuation.
Mid-Q3 Breakout and Profit Realization
By mid-August 2024, propelled by institutional trading, GBP/USD convincingly broke past the R4 Camarilla level at $1.2950. This breakout targeted the R5 level at $1.3200, identified as the optimal take-profit point. This movement marked a significant transition from the previous range-bound market conditions, showcasing the effectiveness of strategic pivot level monitoring.
Anticipating Q4 2024: Calm Before the Next Move
Looking ahead to September 2024, expectations are set for subdued trading activity, with the GBP/USD likely oscillating between $1.3000 and $1.3200. This forecasted lull suggests another accumulation/distribution phase that could serve as a precursor to more definitive movements in the fourth quarter.
Conclusion and Forward Outlook
The trajectory of GBP/USD points towards stability in the near term, with potential gearing up for another significant movement as we approach the end of 2024. Traders should monitor these pivotal levels closely, as they offer valuable insights and strategic entry points. Given the currency’s recent history and the robust support demonstrated at key Camarilla levels, a bullish bias may be advisable heading into the next quarter, with careful attention to any shifts that might suggest a different course.
Stay tuned for further updates as we continue to navigate through these dynamic market phases and extract actionable insights to enhance our trading strategies.
GOLD ROUTE MAP UPDATEHey Everyone,
Once again our levels were respected and provided the calibrated bounces inline with our plans to buy dips.
Yesterday we advised that we were now seeing a range being established between 2500 and 2519/2533 and will need to see ema5 cross and lock on either weighted support or resistance level to determine the next move.
- 2519 was hit and then no lock confirmed the rejection into 2500 and then a break of 2500 followed with the full retracement range test. The retracement level gave the bounce exactly like we shared and more than 40 pips.
We will now look for a 2488 re-test and a failure to cross and lock above this level will follow with a rejection into the retracement range again. A further cross and lock below the retracement range will open the swing range for the extended swing bounce.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET
2509 - DONE
EMA5 CROSS AND LOCK ABOVE 2509 WILL OPEN THE FOLLOWING BULLISH TARGET
2519 - DONE
POTENTIALLY 2533
BEARISH TARGETS
2500 - DONE
EMA5 CROSS AND LOCK BELOW 2500 WILL OPEN THE RETRACEMENT RANGE
RETRACEMENT RANGE
2488 (DONE) - 2472 (DONE)
EMA5 CROSS AND LOCK BELOW 2472 WILL OPEN THE SWING RANGE
SWING RANGE
2458 - 2446
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
GOLD ROUTE MAP UPDATEHey Everyone,
Another great day on the charts today with our plans to buy dips playing out perfectly.
After completing our targets yesterday, we stated that no cross and lock above 2475 confirmed the rejection, which followed with the drop into the lower Goldturns for support bounces. We also stated that we are now back in the range and therefore levels are active again to track the movement up.
We got the drop into 2434 weighted Goldturn, which provided the support for the bounce now into 2459 weighted level. We will now need to see ema5 cross and lock above 2459 to open 2475 once again. Failure to cross and lock above 2459 will follow with a rejection to find support at the lower Goldturns track the movement level to level again.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET
2434 - DONE
EMA5 CROSS AND LOCK ABOVE 2434 WILL OPEN THE FOLLOWING BULLISH TARGET
2446 - DONE
2459 - DONE
EMA5 CROSS AND LOCK ABOVE 2459 WILL OPEN THE FOLLOWING BULLISH TARGET
2475 - DONE
BEARISH TARGETS
2421
EMA5 CROSS AND LOCK BELOW 2421 WILL OPEN THE FOLLOWING BEARISH TARGET
2408
2396
EMA5 CROSS AND LOCK BELOW 2396 WILL OPEN THE SWING RANGE
SWING RANGE
2380 - 2360
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
EUR/USD Trade Setup 1-Hour TimeframeLast week, we anticipated EUR/USD would reach the major supply zone, but instead, the price formed a new, minor supply zone. This was followed by a doji and a close below candlestick pattern, providing a solid confirmation from the minor supply level.
The trade was executed based on this candlestick confirmation at that level.
Now, we wait.
Remember, once you have full confirmation on a trade, don’t overthink execute the trade and stay patient.
GOLD 4H CHART ROUTE MAP & TRADING PLAN FOR THE WEEK Hey Everyone,
Please see our updated 1h chart levels and targets for the coming week.
We are seeing price between two weighted levels. We have 2438 Goldturn resistance and 2416, as Goldturn support.
We currently have a gap open above at 2438 and below at 2416 and will need ema5 cross and lock on either weighted level to determine the next range.
We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET
2438
EMA5 CROSS AND LOCK ABOVE 2438 WILL OPEN THE FOLLOWING BULLISH TARGET
2467
BEARISH TARGETS
2416
EMA5 CROSS AND LOCK BELOW 2416 WILL OPEN THE FOLLOWING BEARISH TARGET
2389
EMA5 CROSS AND LOCK BELOW 2389 WILL OPEN THE SWING RANGE
SWING RANGE
2369 - 2345
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
DAILY CHART UPDATEHey Everyone,
Please see update on our daily chart structure that we have been tracking and trading successfully for a while now.
Previously we had 2355 retracement range providing support and the re-actional bounce, as analysed and we stated that we will either look for a ema5 lock below this level to open the range below or a failure to lock below this level will follow with the upper range tests again.
This played out perfectly with no cross and lock below 2355 and therefore we got the perfect bounce re-testing all the targets above.
Prior to last week we also got the ema5 cross and lock above 2405 opening 2464 once again, which was hit once completing the gap again.
Currently we have a ema5 cross and lock gap below at 2355 and then a new turn created a current ema5 cross and lock above 2405 opening 2464 again. We now have gaps both ways and need to keep this in mind when planning to buy dips.
We will use our smaller timeframe analysis and trading plans to navigate the range in true level to level fashion.
Our long term bias is Bullish and therefore we will continue to use our smaller timeframes to buy dips using our levels and setups.
Buying dips allows us to safely manage any swings rather then chasing the bull from the top.
Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
