I consider preferably short scenario for my next trades based on VSA
I consider this scenario and will look for confirmation at indicated levels to short
I consider this szenario to open my LONG position with several Stops on the move towards 84 or even 85. Volume Profile and Neck Line support this idea.
I consider following levels to trade at the moment.
Price exceed far outside Bollinger Bands on daily chart. I expect some recovery to 76.6 an further decline to 65.00 and 59.70. I going to trade the short trade as the overall market trend is negative.
I consider NG changed to positive trend. New entry level to long position around 2.3-2.4. Will follow the price movement at smaller timeframe at this level.
I present my scenarios for the next trading day. Prefered scenario is scenario 1. Fall to 75.00, getting more liquidity at 76.60 and further fall to 74.00 However, next week is the expiration of the current future. So price movement might be shaky.
After decline below 2.39 with test the way further down to 2.20 and 2.02 is open. Due to oversold RSI and RSI Stoch. I will wait for better etrance point to short. Entrance at 2.39 will be best to ride the short. Stay tune, will provide updates on this idea and my scenario.
In the last US session the price fall below (break) 65.70, but further decline was stoped with big volume. Please refer to my previous idea on daily chart. Thus, my prefered scenario is no. 1. But due to negative market sentiment scenatio no. 2 is highly possible. Current set-ups planned: Short entry on break 65.35 with fast breakeven and exit. Long when reach...
I indicated three levels of my scenario. Expect Gold to go up to either 1839 or 1847 USD. As it will reach one of this level will look at smaller timeframe how the trend continues. If I see some weakness will look to enter short trade with target 1800.