VoxNexus
The H1 pattern already made bearish Choch in 1-hour time frame. My analysis, XAUUSD will make pullback to 2410 before continuing its bearish trend. This is my preliminary analysis until 2347 inducement level has succeeded to be broken by bullish body break
XAUUSD H1 seems to be trying to reverse the trend, where on H1 the last valid low only occurred a sweep, on H1 there was a bullish ChoCh & on the H4 supertrend there's a breakout. My first target is level 1.08402 to pull back and continue the bullish movement. Hope it works
My one rule of thumb is that if Friday is high then Tuesday will be lower, and if Friday is low then Tuesday will be higher. In this case, if the chart is unable to breakout at H1 ChoCh, then most likely the market will continue the trend (we can do an OP after an inducement is formed at M15). But if not, we can wait for a pullback after the breakout occurs and do...
XAUUSD is in a steady condition of 400 pips sideways and waiting for the PCE report release. The epicenter of this condition is at level 2325, with bullish confirmation levels at 2345 & bearish confirmation at 2315.
The simplest tip for trading at the beginning of the week: if Friday is high, then Tuesday will be lower; and if Friday is low, then Tuesday will be higher. Tuesday's trading direction can be inferred from Friday's LTF structure. If BOS occurs, then Tuesday will be higher than Friday; if ChoCh occurs, then Tuesday will be lower than Friday.
XAUUSD has succeeded in reaching the first layer of Fibo extension at 188. Most likely it will continue back to the 2nd Fibo layer at 2235, where there is FVG and H4 the golden Fibo zone area.
On April 19th there was a bullish ChoCh, and there's a pullback to 2372. Assuming it will continue to be bullish, the first target is 2397 then continue the pullback to the 2387 area to continue the bullish movement. #dyor
I'm trying to make a simple setup, using fib retracement, fib extension & order block in M15. Hope it works...cheers :)
I have 2 targets at Fib's golden zone as my TP/OP. Be careful, wait for the inducement & always set SL & rational TP.
The last NY session succeeded in forming a M15 bearish ChoCh. The London session is now pulling back at the 75% level and a head & shoulders pattern has been formed. Bearish trend take control?
Another perspective of the London & NY session can also be used as a guide to further directions without looking at the detailed chart. Here you can see that the NY session has carried out a bearish engulfing of the London session (double range). At the same time, level 2320 has been retested three times. This makes 2430 & 2320 important levels if there is a...
If the London & NY sessions have the same highest area, then the market will tend to be lower. Likewise, if it is in the same lowest area, the market will tend to be higher. At the same time, these areas can also be used as a base structure, to estimate the next market direction (if the market breaks out at valid high/low levels)
If the 2 poc distance has less than 200 pips (using the SVP indicator), then the market is considered to be in a sideways situation.
AUDCAD has formed a bullish ChoCh H4 & has pulled back in the OB H1 area. It's time for bullish momentum & waiting for inducement to determine the TP target.
From the chart that has been formed, there is a possibility that it will be able to reach level 278 Fib extension (2425) & I will partially close my position.
This setup is similar entry with my setup on GPBUSD. Hopefully, it works
As the annual fed funds rate cycle approaches at the beginning of May, the market will wait and see for the next movement. If the Fed raises interest rates, XAUUSD will tend to form a double-top pattern, before forming a bearish movement.