Price broke the previous high of 1.07355 and seem to be pushing up to 1.09682, before heading back down to collect more order and ultimately head higher.
The latest data from the COT reports show that institutions closed their shorts last week, confirming and justifying the strong push to the upside. The ratio of Long to Short trades held by institutions are...
This technical analysis is based on the market cycle.
Prices have been contracting from Aug 2020 to Feb 2022, during the covid days.
In 2022 as the world was opening up, the market entered the expansion stage. Gold price was falling to the downside as dollar price kept getting stronger. However, if we see the COT reports, the non-coms institutions have been...
Market Structure - Uptrend still valid
Area of interest - 1.20 zone
Entry - 1.20 zone; there will be a short-term push towards 1.22 zone, followed by a sweep down to 1.195 zone to collect orders (around mid-Jan), and finally the real move upwards
Exit - 1.26 zone
Yours sincerely,
The Profitable Trader from the Future
1. Last week, the price broke the 1.07 level.
2. Now let's study the Monthly Chart. There is strong bullish momentum based on the fib retracements taken from the previous high. Seems like price is retracing back to the 50% level to test.
3. With that in mind, I would think we are only looking for long setups.
4. 1.065 seems like a juicy entry to get in a long...
Price has been ranging between 1.2 and 1.205 for quite a bit.
Yesterday price broke the previous day high whilst respecting the previous low.
Not a bad idea to look for a long at the 1.2 mark.
Yours sincerely,
The Profitable Trader from the Future
Downtrend momentum seem to have shifted and we are heading up.
Looking for a Long in the next session may not be a bad idea.
Yours faithfully,
The Profitable Trader from the Future
Price seems to be heading towards the higher timeframe supply zone.
Looking for a rejection at this zone and a bounce back down during the London session.
Yours truly,
The Profitable Trader from the Future
Price bounced off the daily supply and heading down to the demand area at 1.2 for another push up...I think. we will see on Monday.
Yours faithfully,
The Profitable trader from the Future
