Fxwarrior:
Buyers have formed a strong support and price is above 1725 region...

This means we should expect price to get to 1745 region by Tuesday. Whether it continues to 1770/80, will likely be decided on Wednesday.

I think price may bounce back from 1736.50 to retest yesterday's high @1720.00 before continuing the rally upwards but in any case we watch, we learn.

I gave a notice last week about a possible structure change, well it seems to be in play. The key thing here now is the recent lower high at 1755, a move to resistance zone would mean a higher high and confirm the double bottom. Failure to move above 1755 would mean gold continues lower. What a weekly candle though.

XAUTrader4L:
I gave a notice last week about a possible structure change, well it seems to be in play. The key thing here now is the recent lower high at 1755, a move to resistance zone would mean a higher high and confirm the double bottom. Failure to move above 1755 would mean gold continues lower. What a weekly candle though.

This is inverted cup n handle pattern
4hrtf
A break from the handle mean we are going down but first wait for the break.. Let's see how this goes the coming week

haryodehjia:

This is inverted cup n handle pattern
4hrtf
A break from the handle mean we are going down but first wait for the break.. Let's see how this goes the coming week

nice to have another perspective.

Good morning pip hunters. I want to know any broker that trades Filecoin Crypto. I have been trading on it with Instaforex but they just disabled the trade since Thursday morning. I really need a broker that offers that service. Very urgent

My thoughts on EU for next week.

No trade if point of entry is broken

Gold Possible Trade

XAUUSD buystop @ 1740
Stoploss @ 1730
Target 1770

XAUTrader4L:
I gave a notice last week about a possible structure change, well it seems to be in play. The key thing here now is the recent lower high at 1755, a move to resistance zone would mean a higher high and confirm the double bottom. Failure to move above 1755 would mean gold continues lower. What a weekly candle though.

That weekly indicates price rejection to the downward which was also confirmed by rejection of USD news despite favouring a fall.

It simply means gold is heavily supported for now.

My mistake last week was selling into a monthly S1 support for gold.

I have found a site that shows pivot points for gold so I won't be relying only on chart formation nor news alone.

It gives better insight. I think it's a breakthrough for me.

Fxwarrior:



That weekly indicates price rejection to the downward which was also confirmed by rejection of USD news despite favouring a fall.

It simply means gold is heavily supported for now.

You mean rejection to the upside?
I dont care much for news anymore but yes it is supported for now. There are times gold will just do odeshi for news and continue its way.

This is how I look at gold... I'd like to be corrected if I'm missing certain points.

If the TL and horizontal resistance points effect a pullback, I wish to sell towards the 1720-1715 area

XAUTrader4L:



You mean rejection to the upside?
I dont care much for news anymore but yes it is supported for now. There are times gold will just do odeshi for news and continue its way.

I mean rejection to downward movement.


That doesn't mean we should ignore news especially high impact news.

charly20:
This is how I look at gold... I'd like to be corrected if I'm missing certain points.

If the TL and horizontal resistance points effect a pullback, I wish to sell towards the 1720-1715 area

Try a TL from 6 Jan.

XAUTrader4L:


Try a TL from 6 Jan.

Ok.. judging from my TL drawn to the best of my ability, there's been a close outside the TL that means we may need a retest?
If so I think those levels may still be worth considering..


What's your opinion sir?

charly20:



Ok.. judging from my TL drawn to the best of my ability, there's been a close outside the TL that means we may need a retest?
If so I think those levels may still be worth considering..


What's your opinion sir?

Am not a fan of retest of TL but ofcourse the levels need to be watched especially 1755.

The weekly chart also tells an interesting story, weekly TL, 61.8% fib of 2020 and the BB shows that it is stretched and needs to move back to atleast the BB mid line. Nobody knows what the market will do, we just look for the higher probability.

XAUTrader4L:



Am not a fan of retest of TL but ofcourse the levels need to be watched especially 1755.

The weekly chart also tells an interesting story, weekly TL, 61.8% fib of 2020 and the BB shows that it is stretched and needs to move back to atleast the BB mid line. Nobody knows what the market will do, we just look for the higher probability.

Well whichever way...We watch together, we learn together and from each other

What site is that?

Fxwarrior:
My mistake last week was selling into a monthly S1 support for gold.

I have found a site that shows pivot points for gold so I won't be relying only on chart formation nor news alone.

It gives better insight. I think it's a breakthrough for me.

Fxwarrior:
My mistake last week was selling into a monthly S1 support for gold.

I have found a site that shows pivot points for gold so I won't be relying only on chart formation nor news alone.

It gives better insight. I think it's a breakthrough for me.

You can always calculate standard pivot point for any tf. High plus low plus close divided by 3. That's all.

Quote of the week

"Making money from the market is one thing,

Keeping it is another.

99% of traders can do the first one.

Only 1% can do the second one."

Aluspecialty:
No, I beg to disagree. This account is not fake.
Create an explorer, it's free to create. Let us all see for ourselves. It takes just 2mins to create.
In fact, it takes lesser time to create than the affiliate that you already created with a broker for commissions
@Feshizzy, theyoda, see this

Hahaha , should not surprise you, haven't we seen enough?
https://www.nairaland.com/6439337/latest-experiment/9#100403052

"Possible scam alert" I say possible , before una jump to conclusion.

Big thanks to Aluspecialty for trying to help those greedy ppl.
Ppl will never learn though , you can try to help them and they will still take you as the number 1 enemy

Donvic4u:
Boss infofirst..

Pls how would you trade this chart?

Until I first check with my eyes from the weekly tf then to the 4h tf.
Despite the fact that the diagram looks convincing. Its just the view of the owner.

infofirst:


Until I first check with my eyes from the weekly tf then to the 4h tf.
Despite the fact that the diagram looks convincing. Its just the view of the owner.

I know boss..

But am not asking how ull trade the pair, but that particular chart

...

boss infofirst how do i update my fxblue account

The party has begun amid a literally stagnant market and folks are already harvesting pips.


Where una dey see this pips?

This place is very quiet... Everybody don go take position.....

Donsheddy:
This place is very quiet... Everybody don go take position.....

Monday trading is very annoying and some don't even trade on Monday.

With the result I'm having of recent.
I'm guessing, the less attached you are to the market the better.

Eyes on Gbpusd and Nzdusd , liking the NU better for short.

Short gu 1.3892 , stop loss should be 10-15pips above the high. Little risky so will need to manage the trade.

Preferred NU but no entry set up just yet.