as the us dollar continues bearish so will us30 and we can see the double top taking formation
gold has currently broken its most recent highs i am looking for buys
aw we can see by the chart us30 is making a series of lower lows and lower highs and we will be looking for sells as we break the 33325 area with our tp at 32785 with our stops at 33485
as we can see today gold is curently still in an uptrend as the dxy (us dollar continues to fall) gold is currently sitting at the 2034.823 where i will be looking to take buys from if gold continued to respect support
this is a simple break of structure trade where we can see possible continuation sells
SIMPLE IDEA FRO GOLD TODAY im looking for gold to comeback to my 4h support before making structure and posibly heading back to my daily resistance
gold is currently in a bearish rising wedge but has not reached its turn around point yet where I would be looking for long term sell so I will be buying gold from the 1 h break of structure back to the daily resistance stay turned
today us30 is looking bearish as it has come back to 4h resistance which is also a 61.80 retracement so i am currently selling back down to the daily support
this I my take on gold for the upcoming market open gold looks to be shifting into a short term selling bias and has broken structure on the 4h where i will ne looking for confirmations along with other time frames that gold will be continuing to sell happy trading
this is my analysis of what could happen today based on gold market structure gold has broken the previous 4 hour low and I now have my A and B POINTS for my fib retracement i am now waiting for c which would be at the 50 % retracement which is also at my previous low meaning support will now act ass resistance
ill be looking for buys from the 4 hour support back up to the daily resistance
as of today us30 was in a little bit of a range on the lower time frames but it is on a strong support order block so in not expecting to break before completing its cycle back to previous strong resistance then i would be looking to sell to my closest order block which is where big exchanges are in the market
as it stand it lookas us30 is about to finish its push phase so im looking for it to potentially pull back 35623 area before pushing lower to the daily supporting trend line
just a small insight on how easy it could be to break down us30 broke my mic so sorry for the no sound what i wanted to high light was start by -finding trends from the the daily 4H and sometimes the 1 hour -find all major support and resistance areas -after the ask your self is price in its push or pull phase -its never a good idea to enter in the push...
based on what i can see in the market right now im looking for a retarcement on gbpjpy back down to the 154.000 area for a a reversal then in looking for the market to push from there up to possibly tp1 and 2 marked on the chart
bases on the descending triangle pattern us30 just came out of along with a 61.8 entrancement on the hour the market could push up to as far as the 36565 area to then complete the right shoulder of the forming head ans shoulder pattern on the 4 hour
based on trend analysis im looking for a sell from a strong resistance with gbpjpy
Im looking for a nice short from NAS100 from the resistance which the market has failed to break multiple times right back into the support