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GOLD ANALYTICSHello All, hope you were profitable yesterday and welcome back. YESTRDAYS RECAP! We had traps set for both the UPWARD and DOWNWARD movements, the Traps were broken starting with the lower one but then RESISTANCE got worse and we didn't see our TAKE PROFITS ZONES HIT, then there was a decline after the resistance and the MARKET pushed up a bit and broke our traps for the upward movement but yet again resistance got stronger and our TP'S were not achieved, GENERALLY SPEAKING Gold has been acting completely different, it even made me dig deeper and here i came to realize that at the start of this week mainly on TUESDAY i was expecting a lot of STRONG RESISTANCE for at least 4 days and guys it has come to pass, the RESISTANCE has been there on the CONSOLIDATION ZONES, and it might last for even LONGER than i had anticipated for, today is the fourth day and we've had no MAJOR PROFITS COLLECTION, if on Monday the MARKET STRUCTURE is not broken completely then trust me the same will continue for at least 2-3 days of next week as well. Gold is been acting weirdly since the CPI REPORT RELEASE and ever since, the MARKET STRUCTURES have been forming their own ways of declining our entries, with all being said remember my entries are on 1 HOUR TIME FRAMES, and there are a lot of opportunities on LOWER TIME FRAMES. TODAY'S ANALYSIS. As of now GENERALLY the BUYERS are in control and as i had indicated since WEDNESDAY i was expecting a fall $1856-60 first, once we see the fall this is an indication that BUYERS are actually recollecting themselves and getting ready for $1960 -$2000, so for today's analysis i'll be very brief we have our TARGETTED ZONE for a fall when $1907 is broken, this stands as the only MAJOR RESISTANCE LEVEL up to now, so once we have broken the level we either wait for a RETEST and then have our ENTRIES or we try read the previous pattern formation, after the break of a RESISTANCE LEVEL, this way will be easier for us to have an OVERVIEW of what we should expect the MARKET to do after breaking our RESISTANCE LEVELS and the best way to do it is generally putting a TRENDLINE then go to PREDICTION and MEASUREMENT TOOL and then CHOOSE the 6th OPTION which reads BARS PATTERNS, then you have to identify the previous level which was broken take the measurement of the LEVEL and then try implement it to the current broken zone, it may be hard for some of you, but this is the last piece of the puzzle, once you do this then we should be having a very clear picture of what we should expect to happen. On the UPWARD MOVEMENT i strictly recommend us to see level $1937 BROKEN in order to see that PUSH UP , and yes the same TRICK for the DOWNSIDE MOVE can be applied incase we see our RESISTANCE level broken. My conclusion, since we are in an UPTREND we should expect our break of the trap zone up but it should not drive further up mainly we looking at $1947 -60 nothing beyond that, meanwhile i had my buy entry yesterday and currently running losses in considerate amounts but hoping that i will be in before the end of today. Conclusions everyone in trading view has gone dormant, some have decided to extend even further and trade on a much bigger TIME FRAME, which makes it easy for them, but guess what guys, this is how a trader should be when A doesn't work go for B, Meanwhile there is some sort of a TRIPLE TOP formation, let's see what happens if it completes then i will have buy entry closed. Up until then Do wish you a lovely and profitable day!
OANDA:XAUUSD
by Ahmedshebe
GOLD ANALYTICSHello and Good Morning. YESTERDAY'S RECAP! All of us were actually expecting to do our PROFITS collection as usual , we had our traps set and we were ready , but sadly nothing took place , the MARKET played on it's own way, THE RANGING continued, and lastly forced me to Dive DEEPER to understand what was happening and guys i' saw the CONSOLIDATION, and yesterday's closinig remarks were the MARKET will be consolidating for a while. TODAY'S ANALYSIS! Every TRAP i had set yesterday remains the same, i'm sure there will be no breakouts for today as well and unless we come across some extra confirmation point's which as of now i'm sure i have covered all, so as i said yesterday we are expecting the consolidation to continue for at least the remaining of this week, nothing further, my thinking is we have to be ready for TRADING THE CONSOLIDATION , which basically means we have to identify our SUPPORT and RESISTANCE ZONES and as always Buy at Support close at RESISTANCE, and give A SELL which should close at Support. This is workable on any time frame , but a lower time frame will be clearer for this type of MARKET. Anyways my FELLOW TRADERS, i'll continue evaluating the MARKET STRUCTURES and will be updating as time goes by, for those few words, i see myself with huge recovery to make, there is a possibility i might go less of my Target this month but you know that's what TRADING is all about,. NOTE: i last night talked about the CONSOLIDATION CONTINUATION, and from last evening up to now we are on the consolidating market, my normal routine for the above market, i'll be also looking for opportunities in other PAIRS, the consolidation is due to the CPI news yesterday at last not wholly but it contributed a certain percentage. Up until then wish you a wonderful day!
OANDA:XAUUSD
by Ahmedshebe
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