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GOLD awaiting its next moveOn market open this week we saw a downside impulse on GOLD. This has been going on for the past 4 days. We're expecting a breakout in either direction, but a downside move to 1700 is more likely to happen. This is a good opportunity to look for short positions with a good RRR. As always our entry is based on current market state. The best way to enter would be a breakout of support or candlestick signal. Watch out for our daily analysis to find out how this will play out. Support us by giving us a like and leave a comment down below!
FX_IDC:XAUUSDShort
by ForexTrendline
27
GBPUSD H1 - Short SetupGBPUSD H1 Moving down to the lower timeframe, which we don't generally like to do, bullish start to the morning since the EUR and LON session kicked off. But following our trading zones, we caught a nice move on this yesterday and followed down the next LL and LH sequence. Trying to marry up the two GBP resistance zones, but also would like to see this bullish move slow down and maybe better signs of rejection seeing as it's literally just S/R on a lower timeframe.
Short
by Trade_Simple_FX
EU analysis coming into London openGood Morning Traders! Sorry about the lack of post yesterday, I will make it up to you with an in-depth post today. Currently we are in a daily downtrend leaving unmitigated ranges on the way down-these should be filled for efficient PA to continue. We are also in a 4hr selling range as seen by the overall red box, I have marked 2 ranges that have yet to be mitigated. My Preferred entry would be the sweep of the Asian session lows as we are in the daily demand area and working our way towards the edge, we also have some nice liquidity above to be run, and EQL under the current PA to be swept. This would give a great long entry an excellent area. If this doesn't happen we still have an unmitigated range marked in green, above for a sell, I don't like this as much as its not selling at the premium of the overall 4hr range, however I must trade the PA as I see it. The 3rd entry potential is the top range marked in green, this is with the overall momentum, unmitigated and at a premium of the entire run, it would be a no brainer sell area for me-but I expect it later in the week. As always trade safe and reach out in DMs if you would like to know more about what we do at envision.
by EnvisionEJ
TRADE OF THE WEEK | Key Level Breakout Trade 💰 Hey traders, Here is a great breakout trade that I caught on AUDNZD this week. This trade is based on a bearish breakout of a major daily key level and its retest. Original post - Retesting the broken structure, I am always looking for an intraday confirmation (reversal pattern on 4h/1h time frames). On hourly time frame, after some fluctuations, the price formed a tiny double top formation with a lower high. Breaking its neckline, and respecting a local falling trend line, that was a trigger for me of a coming bearish movement. I opened a sell limit order on a retest of a broken neckline. My entry level was 1.05437 My goal was 1.0475 My stop loss was 1.05705 The price dropped nicely as predicted giving me 70 pips of pure profit. Great example of a confirmation, rule-based trade. Share your winners of this week in a comment section! ❤️Please, support this idea with a like and comment!❤️
Short
by VasilyTrader
14
BOE Thursday, NFP Friday...The Dollar has derived little or nothing from the hawkish leanings of Fed’s Waller who argues that with inflation running well above the 2% target an announcement on taper could come in September for an October start, and the FOMC should do it early and fast in order to be in position to increase rates in 2022, if needed. In fact, the Buck is still on the back foot against almost all major counterparts and EM currencies, as the index continues to pivot 92.000 and skirt round numbers vs several G10 peers, like the Pound either side of 1.3900 in the run up to ‘super’ BoE Thursday and NFP the day after. Watch out for fridays impact and make sure to manage trades around the announcements.
by FTUKcom
3
GOLD IMPULSIVE MOVE EXPECTED! +-350 PIPSThe wedge is my favourite setup to trade: WHY? - Sniper entry (Low risk:reward ratios!) - High probability setup. - Indicates market is preparing for big move to up or downside. Important to practice patience with this setup. A lot of fake breakouts can occur. Recommend waiting for the break and RETEST CONFIRMATION! On a higher time frame. Overall bias is to the DOWNSIDE but in terms of my entry, It can go either way. Once price breaks and retests- I will buy / sell in that direction. To catch the 350 pip move. What are your thoughts?
TVC:GOLD
by Wild_ZA