Based on my analysis, I anticipate GBP/JPY (GJ) to clear the liquidity at the top before resuming its descent toward my target profit (TP). This expectation aligns with the higher time frame (HTF) structure, which suggests a significant bearish move. To manage risk effectively, I am limiting my exposure to 0.5% of my trading account on this setup. The trade thesis is grounded in the premise that the pair will first attract liquidity above key levels before continuing its larger downward trend.
Here's the analysis based on the 4-hour time frame CAPITALCOM:GOLD Analysis: 1. **Resistance Zone:** - The price has approached a clear resistance zone (around 2660–2670) where sellers may step in. This zone has been tested before, making it significant. 2. **Bearish Price Action:** - The recent candlesticks near resistance suggest hesitation, possibly indicating seller strength. - If a bearish engulfing or similar rejection pattern forms, it may confirm a potential reversal. 3. **Moving Averages:** - The moving averages (possibly EMA or SMA) show alignment below the current price, indicating a recent bullish move. However, a pullback to the moving averages is typical in such cases. 4. **Volume:** - (Not visible on the chart) If volume is decreasing near the resistance zone, it strengthens the bearish bias. Suggested Sell Targets: 1. **First Target (T1):** 2645 - Minor support zone and close to the first EMA. 2. **Second Target (T2):** 2621 - A previous support level and aligns with the middle of the range. 3. **Third Target (T3):** 2608 - Strong support zone; price could bounce from here. Stop Loss: - Place your stop loss slightly above the resistance zone, around **2675**, to avoid being stopped out by false breakouts. Recommendation: - Wait for confirmation via bearish candlestick patterns (like engulfing or pin bars) before entering. - Watch the volume and any fundamental news that could impact gold.
The Australian Dollar rises as the Financial Times reported that the PBoC is signaling potential rate cuts this year. The AUD recovered from two-year lows as stronger commodity prices provided support, particularly Oil and Gold. The US Dollar Index corrects downwards from a new multi-year high of 109.56 reached on Thursday. AUD/USD trades near 0.6210 on Thursday, maintaining a bearish outlook as it remains within a descending channel on the daily chart. However, the 14-day Relative Strength Index (RSI) has bounced back above the 30 level, suggesting the potential for a near-term upward correction despite the prevailing downtrend. The AUD/USD pair may find immediate resistance at the nine-day Exponential Moving Average (EMA) at 0.6220, with the next obstacle at the 14-day EMA at 0.6244. A key resistance level is the descending channel’s upper boundary, around the psychological mark of 0.6300.
Hi guys, today we are overlooking Silver (XAG/USD) with some great Technical analysis. Currently the overview is on a 1D time frame making this opportunity Mid-Term as to how much time we would expect it to reach it's destination. Currently as we can see on the chart there has been a perfect formulation of the typical Head and Shoulders pattern. Additionally I would say on a shorter term the overall price has entered and formuilated a Descending Channel, which boost's our confidence in the price action that we are expecting. Additionally we are looking into the fundamentals so we can get the extra confidence in the price action that we are targeting. Entry: 29.31 Target: 26.60 which is just above the Strong Support Level Do let me know what you think about this analysis in the comments and what is your overview on this great Precious Metal.
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