Following a massively profitable week for us (see the link below for reference purposes); The Gold tumbled almost 3% on Friday after a blockbuster U.S. jobs report for January which came in with whopping 517,000 jobs hereby triggering profit-taking activities on the yellow metal’s long-running rally since the beginning of the year. Price is currently trading at a critical point where the bullish trendline and the $1,860 share a confluence on the daily timeframe. This video illustrates the technical perspective of the current market structure to figure out trading opportunities for the new week.
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
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The week has started on a bullish note as buying pressure is observed above the $1,860 level. If the buy pressure is going to continue, we might likely see a breakout/retest of the $1,880 level for buying opportunities. However, if a breakdown/retest of the $1,860 level happens, we shall be ready for a trend continuation to the downside. Update coming up soonGood morning
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With a flat channel within $1,880 & $1,875, a Pennant pattern is identified on the 15-minute timeframeTrade active
Secure the current sell as buying pressure resumes where a breakout/retest of the $1,880 level will welcome buying opportunities. Watch the replay of our live session this morning as we discussed this at length.Trade active
Ensuring that the sell position is secured as we look forward to adding more positions at the breakdown/retest of the $1,860 level. I will share the outlook on the 1H time frame in a momentTrade active
outlook on the 1H timeframeTrade active
Price action takes out the sell position with a small profit. Still looking forward to selling opportunities beloew the 1,875 levelGood morning
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QUICK UPDATETrade active
The bears have been struggling in the last 24 hours as price action remains consolidated around 1,875/1,865 rangeTrade active
Secure sell positionTrade closed manually
Taken out of the sell position. Sellers are unable to make a breakthrough as we anticipate Fed's Chair Powell's speech in an hour. A breakout/retest of the week's resistance level at the $1,880 level will be welcoming buying opportunities.Trade active
Selling pressure continues below the $1,880 levelGood morning
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Secure the buy position as price action break out the $1,880 levelTrade active
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Price action takes out the buy position as the consolidation phase continues and with a breakdown of the $1,880 level again! Looking forward to selling opportunities below the $1,880 level since bulls have found it difficult to remain strong above this level.Trade active
UPDATETrade active
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Price action takes out the sell position as indecision continues in this market. Risking a buy position above the $1,880 level in anticipation of a breakout/retest of the $1,886.50 level. We shall keep the option of selling opportunities open at the breakdown/retest of the $1,875 level.Good morning
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Secure the current buy position as price action breakout/retest the $1,880 levelTrade active
Buy position was taken out at breakeven as price action triggers the sell-stop order at the breakdown of the $1,875 level. Time to secure the current position as we look forward to more opportunities.Trade active
Secure sell position as we look forward to more opportunitiesTrade active
Secure sell positions and following the breakdown of the $1,860 level, we look forward to adding positions below the $1,860 level.Good morning
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FRESH NEW LOOKMarkets have remained indecisive in the last 11 hours as all eyes remain fixed on the outcome from Michigan Consumer Sentiment Index which is coming up in 45 minutes, In that regard, this is what I see from another technical angle on the 1H timeframe.
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UPDATE following the COnsumer Sentiment Index
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Trade smart. Trade consciously
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.