Where will Gold Go?Observe the area of previous resistance (and now support) of 1444-1462 . If we break below this , the next zone Gold could trade at the previous zone (1365-1440).
Michigan consumer Sentiment is to be released very shortly. If we have a positive reading, the price of Gold will be expected to fall as USD strengthens. If we have a negative reading, the price of Gold will climb as USD weakens.
Overall, look for price action to get into the sell position, be careful on jumping the gun too early. Set take profit near the bottom of the previous zone and the stop loss right above the low of the current zone.
Zones
RIPPLE 1.2 REALLY SOON !!!XRP/USD has been really quiet lately, and when this happens on a pair, especially on cryptocurrencies, we are expecting a huge move. A lot of news on ripple world wide which may influence this move too. Waiting for a clean break of the descending trendline to confirm the expected target 1.20000
#tradesafe #staytunned
Bitcoin to 250k by 2023Fibonacci timezones and extensions are both very powerful tools when it comes down to finding out what time a bull market starts/ends and at what price range. The fib time zone 0.382 and 0.6 (highlighted as a vertical red and green color) is both used in order to identify the bottom of a bear market by taking previous lows onto bull run highs. This also allows you to see what timeframe the run will end by using the 2 (purple horizontal line) fib time zone; although the timezone is not accurate it serves as a way of understanding the potential time in which price peaks. The fib trend extension tool on level 14 allows you to identify the top of the potential price.
GER30: Wait for confirmation candle...- Pennant chart pattern formed indicating a bullish continuation of trend.
- Wait for confirmation candle
- On the W1 timeframe price is respecting the 61.8% level
- H1 timeframe is showing an uptrend and price retraced within the pennant.
- We are looking for price to break outside of the pennant and retest it before entering the trade
EURJPY: Analysis- Downtrend is getting weaker as price is struggling to make a lower low
- Price is currently at a weekly resistance so therefore; it's a bit of a premature entry for a buy
- As price is on a downtrend we would feel comfortable selling but need further confirmation on the H1
- The support level has been held since 2016 and price has touched it more than 3 times with a false breakout dating back to 2016.
--- Wait for confirmation candle ---
BTCUSD Mark UpDateFrom September 24, 2019 'til now bitcoin's price has been ranging within a HTFZ ($7435-$8783). The swing low of the move ($7793) took multiple hits which gave price momentum to start printing HHs & HLs. Price action was able to form a new untouched zone ($8188-$8182) which should give the highest probability trade. However, there's barriers waiting to stall price on it's way up.
If price dips in the zone, I would long it from $8282 to $8783 which is the starting point of the HTFZ. If price can break above the $8783 level then I would look to enter again on a retest to ride it to the next barrier which is $9531.
If price were to engulf the zone ($8188-$8182) I would wait for a B.A.R to short it to the swing low ($7793). It's imperative to be flexible.
NOT TRADING ADVICE!!!
Gold Analysis Here you see whats known as Price Action - where Price gives repeated patterns known as levels also know as either an Interday Trend or an Intraday Trend. Interday Trend meaning Price gives 3 levels up or down within 3 days of movement. Intraday Trend meaning Price gives 3 levels/pushes within 24hours of movement.
So for this upcoming week I believe Gold will continue pushing down towards 1429 price area - keep in mind price may gap up when the market opens up
How to Use Manual Levels PlotterBy defining a Structure of the Market you are trading, you can utilize the scaffolding of price as a means to take Low Risk Trades with High Rewards. Take this example of the ES. Levels were drawn beforehand on a larger TF chart. I define the structure of the market as places where either 1. Buyers Beat Sellers, and price shoots up, or 2. Sellers Beat Buyers, and price shoots down. It is at these points of control where price tends to revisit. By analyzing the price action on lower TF charts, we can take minimum 1:3 RR trades as price crosses over these levels. My indicator () makes it a bit easier to keep track of the levels for each instrument you're trading, whether you're on the computer or mobile. By observing Price Action on lower timeframes, we can analyze the trend and strength of the market to take a trade with a predetermined target(the next level above or below) and a predefined risk of 1/3 the profit target.