Yellow metal witnessed its strongest week in the last year to set a bullish tone for the coming week. However, it is worth noting that coupled with the fact that price action is within a long-term bearish momentum, the price is still trading below the $1,800 level - a level that was broken to the downside by sellers in July. Judging by what has been happening around the $1,625 in the last month, the bulls have been waiting for this week for a long time and the negative CPI data last week displayed a significant opportunity to take advantage of a weaker US Dollar. From a technical standpoint, we want to be patient and see how price action will relate to the $1,800 level in the coming week before making an informed decision.
Risk 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.
Risk 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.
Trade active
Price action is caught within the channel of $1,773 and 1,755 since the beginning of the week. Patience is required here as we waiting for signals in the form of a breakout or breakdown to anticipate an entry. Update coming soonGood morning
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Price action is been monitored as price remains within the channel but there is a tendency of bullish momentum as buying pressure appears around the 1,773 area. However, if a breakdown/retest of the 1,767.50 could incite a sell momentum. Update coming soonGood morning
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Securing the buy position a price action finally breaks out of the $1,773 zone to set a bullish tone for the week.Trade active
UPDATEThis was explained in detail during the live session today (see the video on my youtub channel). Secure current buy position
Trade closed manually
Taken out with a small profit as prices plunge below $1,773; buying above $1,773 is still feasible as long as the price does not break below the $1,768 area. Update coming soon as price action is been monitoredTrade active
Secure the current buy position as selling pressure increases around the $1,783 zone and if a breakout of this zone happens, we want to be looking forward to adding more positions. However, a breakdown/retest of the $1,768 will be sending a bearish signal.Trade active
Secure current buying position as buying pressure continues around the $1,773. The $1,773 level shall be serving as a yardstick for trading activities today; if price continue to oscillating above this level we think of buy and if price breakdown/retest this level a selling opportunity will be considered. Remember that participants anticipate an high impact event coming today (Retail Sales ) which can be seen reflected on the chart as a consolidation phase. Good morning
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UPATESecure position
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Over 1,000 pips in profit as the price is currently within the sell zone at $1,783 area... Details explained during the live session today (video on youtub)Trade active
Selling pressure continues as the price takes out the buy position with some profit; securing the current sell position. For buyers; no buying now unless the price breaks above the $1,783 level.Trade active
UPDATESecuring position
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secure position as buying pressure appears at theTrade active
QUICK UPDATEBreakout/retest of the $1,783 will be a bullish signal hence keep this option so that we can take advantage of this move.
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secure sell position as sell pressure continues at the breakdown/retest of the trendline.Trade active
secure sell position as the price breaks down the $1,773 levelGood morning
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UPDATETrade active
This was explained during the live session today (video on youtub); securing current positions as another position is triggered.Trade active
With over 1,800pips running in profit, we continue to look for opportunities to add to the existing trade trade.Good morning
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This setup was duly explained during our live session today (video uploaded on youtub); secure the current positionTrade active
The current sell position is running with over 5,000pips in profit (3 positions) as we head into the weekend; securing the positionHappy weekend to you all!
Trade smart. Trade consciously
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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.