At present, the price is approaching a significant resistance level on the daily (D1) chart. This area has historically shown strong selling pressure, suggesting that a reversal might occur. Additionally, the H1 chart is revealing a Quasimodo setup, which further supports the potential for a downward move. Given these technical indicators, I will be opening a...
Trading Plan for Gold: I am currently waiting for confirmation of supply and demand (SnD) levels on the H1 timeframe. I will also be observing for any changes in market structure on the M15 timeframe, which could indicate potential entry or exit points. This approach allows for a more precise analysis of price action and trend direction.
There is a bearish sentiment (BOS) observed on the M15 timeframe, with a confirmed break below the latest support. Additionally, the D1 chart is currently attempting to test its resistance level.
AUDUSD already break on H1 TrendLine, so it can be take short position
Uptrend gold give best Risk ratio to open position. Bottom trendline gold have already reject the price.
USDCAD wait until test RBR area to take Buy Position
EURJPY Wait for Short Position based on trendline and Support Become Resistance
Currently USDJPY wait to price action to take short position, if the price can break upper trendline it will be long position
Currently EURUSD is down trend, best time to entry is on Support Become Resistance and hope trendline will reject the price.
AUDCHF, currently retesting the resistance area on H1 timeframe. it may be double top chart pattern.
EURUSD, after breaking its bearish trend line, is currently retesting it, in the 4-hour chart. The price point also coincides with a strong support according to price action. Hence, we expect the pair to find support and move up from here.
Resistence area and trenline on H4 makes XAUUSD strong to sell now.