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Gold Market Trade Idea: Descending Triangle Breakout 📉 Pattern Overview : The descending triangle pattern is typically considered a bearish continuation pattern. It is characterized by a flat lower trendline that acts as support and a descending upper trendline that indicates lower highs. This pattern suggests that sellers are more aggressive than buyers,...

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Here's a trading idea for gold, considering the 30-minute candlestick pattern and the upcoming important economic data release: Gold Trading Idea: Navigating Economic Data Release Observation : - The 30-minute gold chart has formed a significant candlestick pattern, which traders should monitor closely as it may indicate potential market movements. Strategy...

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Here are the labeled prices for gold levels based on the latest available data: Support Levels: S1 : $2,150 S2 : $2,100 S3 : $2,050 Resistance Levels: R1 : $2,200 R2 : $2,250 R3: $2,300 Fair Value Gap (FVG): FVG1 : $2,180 - $2,190 FVG2 : $2,160 - $2,170 Order Blocks (OB): OB1 : $2,155 (Bullish) - OB2 : $2,205 (Bearish) Please note that these...

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Based on the recent analysis, gold prices have shown modest gains and continue to find buyers, indicating a bullish sentiment in the market. The upcoming US retail sales and producer inflation data could provide further insight into the economic outlook and influence gold prices¹. Considering the ascending channel pattern you've observed in the 5-minute candle...

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Trade Setup Review: Gold Sell on CPI News We recently capitalized on a strategic trade setup that involved selling gold in anticipation of higher CPI data. As predicted, the CPI data came out higher than expected, leading to a significant market movement that favored our position. Result : Our foresight and timely action yielded a remarkable +250 pips profit....

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As a Gold Trader understanding and interpreting CPI data is crucial for making informed trading decisions. Here's a guide on how to read CPI data and a trade idea based on potential CPI outcomes: --- Understanding CPI Data: CPI Basics: The Consumer Price Index (CPI) measures changes in the price level of a market basket of consumer goods and services...

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Gold Trade Idea Pattern Analysis: Gold has formed a flag pattern, indicating a potential breakout. The flag high will serve as our target price (TP), while the last swing low will be our stop loss (SL) level. CPI News Consideration: Today's CPI data release could introduce volatility. Historically, gold prices have shown sensitivity to inflation data,...

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Idea is attached where each level was given. When to enter and when to exit was given. This idea gave 1 buy & 1 sell signal with more than 150 pips in profit. Follow for more free signals.

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Idea is attached.and you can see that it gave +50 pips in no time Follow for more Trade Ideas like this

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Gold Trade Idea Result: Entry Point : Near the support level of $2176.33 - Reversal Pattern : A Pin Bar or Bullish Engulfing pattern was observed with high volume. - Position : Long position was initiated based on the reversal pattern. Exit Point: The position was closed with a profit of approximately 40 pips . This trade successfully capitalized...

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**Trade Idea for Gold:** 1. **Observation Phase:** - Monitor the 1-minute chart closely for high volume activity. - Look for a ** Pin Bar ** or **Bullish Engulfing** pattern near the support level of **\ $2176.33 **. - Conversely, watch for a ** Pin Bar ** or ** Bearish Engulfing ** pattern near the resistance level of **\ $2187.71 **. 2. **Entry...

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**Gold Trading Idea: Converging Triangle Breakout** ** Observation :** - A converging triangle pattern has been identified on the 15-minute chart, indicating a period of consolidation with the potential for a breakout. ** Strategy :** 1. ** Entry Point :** Wait for a clear breakout from the triangle pattern. A breakout to the upside indicates a potential buy...

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🌹 * GOLD LEVELS For 11/03/24 *🌹 * Trading Strategy* These levels are of 5Minute Candle Chart & it should be traded on 1 minute chart on rejection from these levels in with confirmation (pin rejections or Engulfing). *Stop Loss* Below or above these levels. *Take Profit* If next level is near then next level should be tp otherwise 50% of next level...

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GBPCAD: Ascending Channel Offers Bullish Continuation The GBPCAD pair has been trading within an ascending channel on the 3-hour chart, presenting a classic bullish continuation pattern. The channel is defined by two parallel trendlines, with the upper trendline having touchpoints at 1.7217 , 1.7291 , and 1.7335 , and the lower trendline with touchpoints at ...

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GBPCAD: Bullish Breakout from Rising Wedge’s Upper Boundary The GBPCAD pair has made a decisive move by breaking out from the upper trend line of a rising wedge pattern on the weekly chart. This breakout is contrary to the typical bearish exit from a rising wedge and could signal a strong bullish continuation. Key Observations: Pattern Recognition: The...

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GBPCHF: Anticipating a Bullish Breakout from Falling Wedge The GBPCHF pair is showing signs of forming a falling wedge pattern on the weekly chart, a development that typically signals bullish momentum ahead. This pattern is recognized by converging trendlines that slope downwards more steeply at the resistance line than at the support line, suggesting a...

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GBPCHF: Exploiting the Diverging Triangle for Swift Gains The GBPCHF pair has formed a diverging triangle pattern on the hourly chart, suggesting a potential breakout. This pattern, characterized by two diverging trendlines, indicates increasing market volatility and the possibility of a strong price movement. Key Observations: Pattern Structure: The...

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GBPUSD: Breakout from Converging Triangle Signals New Trend The GBPUSD pair has recently broken out of a converging triangle pattern on the weekly chart, indicating a potential new trend direction. This technical formation, often seen as a continuation pattern, suggests a significant move following a period of consolidation. Key Observations: Pattern...