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Confluencetrading

XAUUSD Short: 4HR Analysis I typically trade Gold on 1HR & below but this 4HR set up caught my eye Confluences: - Rising Wedge - Clear Downtrend - At an area of resistance - Trend Meets Resistance Ways to Enter: Conservative: Wait for price to close below that last area of support (1901.251) then enter. Aggressive: Have a sell limit at resistance area or sell once price reaches resistance area. LIKE, COMMENT, and FOLLOW *tell me what you think of the idea and tell me if you took it :)*
OANDA:XAUUSDShort
by aleasewell
2
USD/MXN Quick Analysis (Using Supply and Demand Method)The Price is now moving up to the Supply Level as you can see in the Chart. The Market has created two Equal Highs, R1 and R2. These two Equal Highs form a Fake Resistance Level also called the Fake Out Zone line (FOZ Line). The Banks and the Big Institutions are preparing to clear the highs and the stop loss of retail traders who are in sells. A lot of traders have already joined the Buy movement. We can see the Price Compressing up to the Supply Zone. All Supply and Demand Traders know that every gap or void must be filled. We have a very Strong Confluence of Resistance in the 23.10 - 23.35 area. This Area has been tested only once, so we have a Fresh Supply level in this area which means a lot of Unfilled Sell Orders are still here. This is the Real Resistance. Our Sell Area is the Red Circle in the Chart. So we will set our Pending Order and wait for price to get there..🙏🙏 Strong Confluence of Resistance (Three Types of Resistance): Strong Verified Horizontal Resistance at 23.18 - 23.33 Pivot Point Resistance 3 (R3) at 22.97 38.2% Fibonacci Resistance Level (Daily Chart) at 23.00
Short
by Benettel
2
GOLD Clean ViewGold looks still very weak to break 1912 key level, it has to find the right liquidity needed to break thru that level. Mulitiple wicks on 1912. Trendline has been touched one more time and probablly will hold. On daily TF, not a single body candle has engulfed previous wicks. Personally expecting gold to push up through at least two previous Lower Highs and prolly form a double top before finding the right momentum to break 1912 key level and the significant trendline to look for Higher Lows to be formed on larger Time Frames.
OANDA:XAUUSDLong
by theforexdaddy
2