MommaPreneur

MommaPreneur

Descending Channel: The price action was moving within a well-defined descending channel, indicating a short-term bearish trend. The upper and lower boundaries of the channel have been respected multiple times, reinforcing the pattern's validity. 4H LQZ (Liquidity Zone) at 2,501.592: The price reached the 4-hour Liquidity Zone around 2,501.592 and failed to...

14:56

MommaPreneur

Daily Chart Analysis: Ascending Channel: The price is moving within an ascending channel, indicating a bullish trend over a longer time frame. The upper trendline acts as resistance, and the lower trendline as support. Daily LQZ Levels: Several daily liquidity zones (LQZ) are marked: 2,532.560: Acting as a key resistance level. 2,470.480: Another support level,...

MommaPreneur

Here is an update everyone!! Price melted through both TP1 and TP2. I exited with about 72 pips on the day (right before news at 07:30CST). I could have definitely managed my trade better and exited when I saw 82 pips. When price came back up towards my initial entry, I could have taken another short position. However, I was happy with a 70+ tick day! Pips...

20:00

MommaPreneur

Weekly Chart (XAUUSD, 1W) Trend: The chart shows a clear uptrend, with the price steadily rising since mid-2022. The trend is currently in a consolidation phase, indicated by a wedge or ascending triangle pattern. Pattern: The price appears to be forming a continuation pattern (possibly a rising wedge or ascending channel), which typically indicates a potential...

MommaPreneur

Market Structure: The updated chart reveals a recent bounce from a 1HR Liquidity Zone (LQZ) at 2,500.825, leading to a short-term recovery. This level was previously tested and has acted as a solid support area. Current Price Action: The price has pushed back above the 5m LQZ, around 2,509.135, after a brief dip below the channel's lower boundary. Short-Term...

16:19

MommaPreneur

1. Daily Time Frame (1D) Channel Formation: The daily chart shows an ascending channel, indicating a consistent upward trend. This structure suggests that gold has been gradually gaining strength over time, with higher highs and higher lows. Key Levels: 2,507.90: Price is hovering near this key resistance, close to the upper boundary of the channel. This is also...