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XAUUSD Pre-Powell Key Level Update – April 16, 2025⚠️ XAUUSD Pre-Powell Key Level Update – April 16, 2025 🔥 Post-speech positioning starts now – but smart money prepares before the speech. 🔍 Macro & Context 🗣️ Powell speaks tonight – market expects hawkish reassurance amid ongoing inflation fears. 🥇 Gold just made new All-Time High (ATH) = 3319, liquidity swept, now consolidating. 🏦 US Dollar still uncertain, Nasdaq under pressure → Gold remains king for now. 🕯️ Key Levels – Updated with ATH Context 🟡 Daily Chart ATH (Liquidity Grab): 3319 Next potential targets above: 🧲 3340.00 = extension level + premium FVG target 🧲 3365.00–3370.00 = extreme FIB 1.618 + psychological round number Key Demand Below (Daily): 🔵 3246–3248 (Daily FVG) 🔵 3211–3214 (Valid Daily OB + FVG) 🔵 3204.97 (Daily FVG Base) 🟡 H4 Key Levels Current Structure: HH-HL bullish, last BOS clean Premium FVG rejection zone (current): 3306–3319 (Price reacting here) Support zone: 🔵 3247–3251 (unmitigated H4 OB + FVG) 🔵 3211–3214 (FVG + prior CHoCH retest) 🟡 H1 Key Levels 🧠 Weak High: 3319 🔄 Possible Pullback Area: 🔵 3285.00–3290.00 (minor H1 imbalance) 🔵 3264–3268 (last H1 HL zone) Strong demand below = 🔵 3247–3251 🔵 3211–3214 🧭 Scenarios To Watch Before Powell Quick retrace into 3285–3290, then another sweep attempt toward 3319 or new ATH (3340+). Deeper retrace into 3247–3251, then long (if speech fuels bullish sentiment). If Powell hawkish → gold may drop to 3211–3214 (valid buys here) before resuming uptrend. 📢 Final Reminder 📌 Don’t chase price right now. Wait for clean mitigation before reentry. 📌 Powell’s tone will define short-term bias, so protect capital! 📌 Always zoom out — the structure was right, but we need to act faster next time! 💬 Let’s Talk ✅ Drop your thoughts in the comments ✅ Like & follow if you caught today’s rally or plan to ride Powell volatility! 🎯 Stay sharp, stay patient — and remember: gold doesn’t forgive chasers.
FOREXCOM:XAUUSD
by GoldFxMinds
XAUUSD SHORTSolid market moves the past few days, I thought it was going to continue and it was safe because market started to stabilize again. However, as expected, one word from Trump and made the market spiraling again. Because of the hold on tariff announcement, we are now back to 3170 level again. Howver, for me, moves like these are always good opportunity for retracement. Opening at 3170// first TP at my prev opening then final at 3000 so we can still be in profit and croos out the previous one. setting a long SL on this one just to be sure at 3270. Let's see how this rolls Day210f100 L:6 W:5
OANDA:XAUUSDShort
by delrosariohanan
21
GOLD ROUTE MAP UPDATEHey Everyone, Another great day on the charts with our levels playing out and respecting perfectly. 3201 Goldturn failed to lock below, which provided the support like we said and the bounce back into 3230. We will now either look for a break and lock above 3230 for a continuation into the Bullish targets or we will continue to track the movement down with ema5 lock and catch the weighted level bounces inline with our plans to buy dips. We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. The swing range give bigger bounces then our weighted levels that's the difference between weighted levels and swing ranges. BULLISH TARGET 3261 EMA5 CROSS AND LOCK ABOVE 3261 WILL OPEN THE FOLLOWING BULLISH TARGET 3292 EMA5 CROSS AND LOCK ABOVE 3292 WILL OPEN THE FOLLOWING BULLISH TARGET 3324 EMA5 CROSS AND LOCK ABOVE 3324 WILL OPEN THE FOLLOWING BULLISH TARGET 3352 BEARISH TARGETS 3230 - DONE EMA5 CROSS AND LOCK BELOW 3230 WILL OPEN THE FOLLOWING BEARISH TARGET 3201 - DONE EMA5 CROSS AND LOCK BELOW 3201 WILL OPEN THE RETRACEMENT RANGE 3179 3152 EMA5 CROSS AND LOCK BELOW 3152 WILL OPEN THE SWING RANGE 3120 3094 EMA5 CROSS AND LOCK BELOW 3094 WILL OPEN THE SECONDARY SWING RANGE SECONDARY SWING RANGE 3069 - 3038 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
18
Consolidation Phase in XAU/USD with Bullish PotentialFollowing a period of strong bullish momentum, XAU/USD is currently trading sideways, remaining confined within the price range established between Friday and Monday. This consolidation suggests the market may continue ranging in the short term. However, if the price dips below the lows of the past two days and breaches the ascending trendline, there is a strong potential for a rebound and continuation to the upside. An alternative scenario could see the formation of a triangle or rising wedge pattern near the current resistance zone. Despite short-term uncertainty, a key support area around 3170–3180 remains critical. A bounce from this zone could signal the resumption of upward movement. Traders are advised to monitor these key levels closely for confirmation of the next significant directional move. The next target is the resistance zone near 3285
FOREXCOM:XAUUSDLong
by RTED_Investing
8
GS raises gold target to $4,000, UBS to $3,500 Goldman Sachs and UBS have issued another round of bullish forecasts for gold, citing ongoing market uncertainty (i.e., tariffs). Goldman analysts now expect gold to reach $3,700 per ounce by the end of 2025, with a potential rise to $4,000 by mid-2026. UBS holds a slightly more conservative view, projecting $3,500 by December 2025. Technically, gold has pulled back from new all-time highs seen during the Asian session but potentially remains in a strong uptrend. With prices trading well above both the 50-day EMA and 200-day EMA, shallow retracements may find support, especially as tariff-related risks persist for at least the next 90 days.
BLACKBULL:XAUUSD
by BlackBull_Markets
Gold Market Outlook: Potential Pullback in Play Following Early Early this morning, the gold market opened with a downside gap, potentially signaling the beginning of a corrective phase. With no high-impact economic events on the calendar today, price action may remain sideways or retrace toward the previous session’s low. On the 1-hour timeframe, bearish divergence has already been identified, supporting the case for a short-term pullback. A similar consolidation phase occurred after the bullish momentum seen from March 11 to March 20. If no unexpected developments influence the market, comparable price behavior could emerge. Overall, conditions suggest a classic breakout–pullback–continuation scenario, which is consistent with typical movements following strong directional trends. A key resistance zone near the 3280 level is currently being observed as a potential target area
FX:XAUUSDLong
by RTED_Investing
1
GOLD 1H CHART ROUTE MAP & TRADING PLAN FOR THE WEEKHey Everyone, Please see our updated 1h chart levels and targets for the coming week. We are seeing price play between two weighted levels with a gap above at 3261 and a gap below at 3230. We will need to see ema5 cross and lock on either weighted level to determine the next range. We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. The swing range give bigger bounces then our weighted levels that's the difference between weighted levels and swing ranges. BULLISH TARGET 3261 EMA5 CROSS AND LOCK ABOVE 3261 WILL OPEN THE FOLLOWING BULLISH TARGET 3292 EMA5 CROSS AND LOCK ABOVE 3292 WILL OPEN THE FOLLOWING BULLISH TARGET 3324 EMA5 CROSS AND LOCK ABOVE 3324 WILL OPEN THE FOLLOWING BULLISH TARGET 3352 BEARISH TARGETS 3230 EMA5 CROSS AND LOCK BELOW 3230 WILL OPEN THE FOLLOWING BEARISH TARGET 3201 EMA5 CROSS AND LOCK BELOW 3021 WILL OPEN THE RETRACEMENT RANGE 3179 3167 EMA5 CROSS AND LOCK BELOW 3167 WILL OPEN THE SWING RNGE 3120 3094 EMA5 CROSS AND LOCK BELOW 2975 WILL OPEN THE SECONDARY SWING RANGE SECONDARY SWING RANGE 3069 - 3038 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
27
GOLD 4H CHART ROUTE MAP UPDATE & TRADING PLAN FOR THE WEEKHey Everyone, Please see our updated 4h chart levels and targets for the coming week. We are seeing price play between two weighted levels with a gap above at 3045 and 3078 due to ema5 lagging behind and a gap below at 3016. We will need to see ema5 cross and lock on either weighted level to determine the next range. We have a bigger range in play then usual. We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 3241 EMA5 CROSS AND LOCK ABOVE 3270 WILL OPEN THE FOLLOWING BULLISH TARGET 3298 EMA5 CROSS AND LOCK ABOVE 3298 WILL OPEN THE FOLLOWING BULLISH TARGET 3329 BEARISH TARGETS 3205 EMA5 CROSS AND LOCK BELOW 3205 WILL OPEN THE FOLLOWING BEARISH TARGET 3178 EMA5 CROSS AND LOCK BELOW 3178 WILL OPEN THE FOLLOWING BEARISH TARGET 3137 EMA5 CROSS AND LOCK BELOW 3137 WILL OPEN THE FOLLOWING BEARISH TARGET 3108 EMA5 CROSS AND LOCK BELOW 3108 WILL OPEN THE SWING RANGE SWING RANGE 3077 - 3046 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
19
GOLD DAILY CHART MID/LONG TERM UPDATEHey Everyone, After completing this chart idea last week, we stated that we wanted to continue to share an update on this, as its still playing out by falling back into the range. We also stated that whenever we see a breakout outside of our unique Goldturn channels; I always state that, when price does a correction, we look for support outside of the channel top. - This played out perfectly, and although we saw price break back into the channel, you can see ema5 failed to break into the channel and created a Goldturn just above the channel top, highlighted by the circle, confirming the rejection and bounce into the bullish targets completing the levels above. This is the beauty of our Goldturn channels, which we draw in our unique way, using averages rather than price. This enables us to identify fake-outs and breakouts clearly, as minimal noise in the way our channels are drawn. This enabled us to identify the fakeout into the channel using ema5 and gave the confirmation for the bounce. This chart idea is now complete!. We will now update a new daily mid/long term chart idea next week. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
12
GOLD 4H CHART ROUTE MAP UPDATEHey Everyone, After completing our 1h Chart route map, please see update on our 4h chart idea, also completed perfectly! We started the week with the drop into the weighted retracement level. No ema5 lock below confirmed the rejection, inline with our plans to buy dips and then we saw price climb up nicely clearing all our bullish targets. BULLISH TARGET 3045 - DONE 3078 - DONE EMA5 CROSS AND LOCK ABOVE 3078 WILL OPEN THE FOLLOWING BULLISH TARGET 3109 - DONE EMA5 CROSS AND LOCK ABOVE 3109 WILL OPEN THE FOLLOWING BULLISH TARGET 3137 DONE EMA5 CROSS AND LOCK ABOVE 3137 WILL OPEN THE FOLLOWING BULLISH TARGET 3170 DONE BEARISH TARGETS 3016 - DONE EMA5 CROSS AND LOCK BELOW 3016 WILL OPEN THE FOLLOWING BEARISH TARGET 2987 - DONE We will now come back Sunday with our updated Multi time-frame analysis, Gold route map and trading plans for the week ahead. Have a smashing weekend!! And once again, thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
33
GOLD (XAUUSD): The Next Important Resistance Levels Gold updated the All-Time High yesterday and trades in the no-man's land again. Here are the next potentially significant resistances based on psychological levels. Resistance 1: 3247 - 3252 area Resistance 2: 3397 - 3302 area Important historic supports: Support 1: 3128 - 3167 area Support 2: 2953 - 2982 area Consider these structures for pullback/breakout trading. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDLong
by VasilyTrader
1
Gold Ideas April 11th - Brand new ATH 3220 & PPI✨ MARKET CONTEXT: Gold is currently testing the 3220 supply ceiling after a massive bullish leg. Liquidity has been swept above March highs, and PA is now in a highly reactive zone. If price rejects here, we look for imbalances to be mitigated below before continuation. 🙌Wait for clear PA confirmation on all entries (5-15m structure shift, engulfing candles, liquidity grabs). If PPI news hits hard, we might see manipulation — trade after the first 15–30 min. Don’t overtrade. Let the levels come to you. Goldie loves the drama. You love the sniper entries. 💅🏽🎯 🎯 Key Reversal Zones for Friday (Potential Pullback if News Hits or Profit Taking Begins): 1. 3190–3195: Minor mitigation zone for continuation longs. 2. 3183–3189: Ideal for sniper entries on a juicy dip. 3. 3170–3175: Key mid-structure retest + liquidity zone. 4. 3148–3155: Full pullback area if market turns bearish post-news. Keep these levels on your radar, especially if Friday gets volatile. Don’t chase the hype—let price come to you. 🧵 Key Imbalance Refill Zones: - 3195–3203: First scalp area, high confluence. - 3178–3184: Strong impulse base. - 3162–3169: Ideal sniper entry with bullish PA. - 3148–3154: Big daddy support (but news sensitive!). 📌 Important Notice!!! The above analysis is for educational purposes only and does not constitute financial advice. Always compare with your plan and wait for confirmation before taking action. 📣 If this strategy sparked clarity, hit that like button and follow our community for more in-depth ideas. 💛
FOREXCOM:XAUUSD
by GoldMindsFX
GOLD ROUTE MAP UPDATEHey Everyone, Another awesome day on the markets with our Bullish targets getting smashed. After completing all targets upto 3078 yesterday, we continued to get candle body close breakouts above 3078 opening 3094 and above 3094 opening 3119 and then ema5 lock above 3119 confirmed 3148 for the perfect finish to this chart idea. We can now move over to our 4H chart idea and our remaining multi timeframe route maps to continue to track the movement for the rest of the week. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 3055 - DONE EMA5 CROSS AND LOCK ABOVE 3055 WILL OPEN THE FOLLOWING BULLISH TARGET 3078 - DONE EMA5 CROSS AND LOCK ABOVE 3078 WILL OPEN THE FOLLOWING BULLISH TARGET 3094 - DONE EMA5 CROSS AND LOCK ABOVE 3094 WILL OPEN THE FOLLOWING BULLISH TARGET 3119 - DONE EMA5 CROSS AND LOCK ABOVE 3119 WILL OPEN THE FOLLOWING BULLISH TARGET 3148 - DONE BEARISH TARGETS 3034 - DONE EMA5 CROSS AND LOCK BELOW 3034 WILL OPEN THE FOLLOWING BEARISH TARGET 3015 - DONE EMA5 CROSS AND LOCK BELOW 3015 WILL OPEN THE FOLLOWING BEARISH TARGET 2999 - DONE EMA5 CROSS AND LOCK BELOW 2999 WILL OPEN THE FOLLOWING BEARISH TARGET 2975 - DONE EMA5 CROSS AND LOCK BELOW 2975 WILL OPEN THE SWING RANGE SWING RANGE 2950 - 2922 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
16
Gold Ideas ahead of CPI on April 10thCurrently, Gold is at 3082, with a mix of uncertainty ahead of tomorrow's CPI release. The market is in a wait-and-see mode as traders position ahead of the data, which could drive volatility. With the macro context in mind, we’ll be focusing on key support and resistance levels, aiming to capture price action based on SMC &more. 🔻 Sell Zone #1 – Intraday Fade 📍 Sell (confirmation only): 3,095 – 3,108 📉 SL: 3,110 🎯 TP1: 3,080 🎯 TP2: 3,060 🎯 TP3: 3,040 ⚠️ Tip: Move SL to breakeven when TP1 hits fast 🔺 Sell Zone #2 – Double Tap and Dump 📍 Entry: 3,125 – 3,139 (Ideal: 3,135 – 3,139) 📉 SL: 3,145 🎯 TP1: 3,105 🎯 TP2: 3,080 🎯 TP3: 3,055 ⚠️ Tip: Use only with clear rejection (M5/M15 M-pattern or bearish engulfing) 🟢 Buy Scenario 1 – “Reclaim Retest” 📍 Entry: 3,066 – 3,068.50 📉 SL: 3,062 🎯 TP1: 3,089 🎯 TP2: 3,113 🎯 TP3: 3,127 🧠 Trigger: M1/M5 CHoCH or Bullish Engulfing 📌 Confluence: M5 Order Block + Fair Value Gap (Discount Zone) 🟩 Buy Zone – Deep Value Pullback (Fresh Setup) 📍 Entry: 3,035 – 3,040 📉 SL: 3,025 🎯 TP1: 3,080 🎯 TP2: 3,095 🎯 TP3: 3,110 ⚠️ Tip: Wait for strong bullish reaction (M5/M15) 📌 Important Notice!!! The above analysis is for educational purposes only and does not constitute financial advice. Always compare with your plan and wait for confirmation before taking action. 📣 If this strategy sparked clarity, hit that like button and follow. 💛
FOREXCOM:XAUUSD
by GoldMindsFX
6
My trade for GOLD (XAUUSD) todayHere's my trade for GOLD today. From daily tf where my bias is bullish targeting the PDH and structure tf which is 1H then entry tf which is 5m. Now for my idea, i am expecting for price to go towards the PDH and that's where i got my bias. For my structure clearly we can see that the recent 1H candle respected the recent bullish FVG so now i can see that the bias is aligned with my structure tf. Once i saw that my entry tf is also aligned with my structure tf, i decided to enter with a target of 1:3R
ICMARKETS:XAUUSDLong
by alfoxDayTrader
XAUUSD signal fomc Gold preserves its bullish momentum and trades near $3,050 in the second half of the day. Further escalation in the trade conflict between the US and China force markets to remain risk-averse midweek, allowing the precious metal to capitalize on safe-haven flows. XAUUSD signal 3082 Support 3068 Support 3047 Support 3020 Resistance 3109 From a technical perspective, the recent sharp decline from the record high stalled near the 61.8% Fibonacci retracement level of the February-April move-up. The said support is pegged near the $2,957-2,956 area, or a multi-week low touched on Monday and is closely followed by the 50-day SMA, currently around the $2,952 region. A convincing break below the latter will be seen as a fresh trigger for bearish traders and drag the Gold price to the next relevant support near the $2,920 horizontal zone en route to the $2,900 round figure.
OANDA:XAUUSDShort
by Stiven088
GOLD ROUTE MAP UPDATEHey Everyone, Piptastic day on the markets today with our chart idea playing out, as analysed. After failing to open the swing range yesterday, we stated that the retracement range will continue to provide support back into the Bullish Goldturn targets. The retracement range gave the bounce into 3015, 3034, 3055 just like we said. The momentum was too strong to get the ema5 lock above 3055 to confirm 3078. However, the candle body close above 3055 gave the confirmation for the 3078 target, which was also hit completing this range We will now look for a break above 3078 for a continuation above or a rejection here will see the lower Goldturns tested again for the bounces. The market is moving in bigger ranges so candle body close can also give earlier confirmations for the next Goldturn without ema5 lock. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 3055 - DONE EMA5 CROSS AND LOCK ABOVE 3055 WILL OPEN THE FOLLOWING BULLISH TARGET 3078 - DONE EMA5 CROSS AND LOCK ABOVE 3078 WILL OPEN THE FOLLOWING BULLISH TARGET 3094 EMA5 CROSS AND LOCK ABOVE 3094 WILL OPEN THE FOLLOWING BULLISH TARGET 3119 EMA5 CROSS AND LOCK ABOVE 3119 WILL OPEN THE FOLLOWING BULLISH TARGET 3148 BEARISH TARGETS 3034 - DONE EMA5 CROSS AND LOCK BELOW 3034 WILL OPEN THE FOLLOWING BEARISH TARGET 3015 - DONE EMA5 CROSS AND LOCK BELOW 3015 WILL OPEN THE FOLLOWING BEARISH TARGET 2999 - DONE EMA5 CROSS AND LOCK BELOW 2999 WILL OPEN THE FOLLOWING BEARISH TARGET 2975 - DONE EMA5 CROSS AND LOCK BELOW 2975 WILL OPEN THE SWING RANGE SWING RANGE 2950 - 2922 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
18
Learn 3 Best Time Frames for Day Trading Forex & Gold If you want to day trade Forex & Gold, but you don't know what time frames you should use for chart analysis and trade execution, don't worry. In this article, I prepared for you the list of best time frames for intraday trading and proven combinations for multiple time frame analysis. For day trading forex with multiple time frame analysis, I recommend using these 3 time frames: daily, 1 hour, 30 minutes. Daily Time Frame Analysis The main time frame for day trading Forex is the daily. It will be applied for the identification of significant support and resistance levels and the market trend. You should find at least 2 supports that are below current prices and 2 resistances above. In a bullish trend, supports will be applied for trend-following trading, the resistances - for trading against the trend. That's the example of a proper daily time frame analysis on GBPCHF for day trading. The pair is in an uptrend and 4 significant historic structures are underlined. In a downtrend, a short from resistance will be a daytrade with the trend while a long from support will be against. Look at GBPAUD. The market is bearish, and a structure analysis is executed. Identified supports and resistances will provide the zones to trade from. You should let the price reach one of these areas and start analyzing lower time frames then. Remember that counter trend trading setups always have lower accuracy and a profit potential. Your ability to properly recognize the market direction and the point that you are planning to open a position from will help you to correctly assess the winning chances and risks. 1H/30M Time Frames Analysis These 2 time frames will be used for confirmations and entries. What exactly should you look for? It strictly depends on the rules of your strategy and trading style. After a test of a resistance, one should wait for a clear sign of strength of the sellers : it can be based on technical indicators, candlestick, chart pattern, or something else. For my day trading strategy, I prefer a price action based confirmation. I wait for a formation of a bearish price action pattern on a resistance. Look at GBPJPY on a daily. Being in an uptrend, the price is approaching a key resistance. From that, one can look for a day trade . In that case, a price action signal is a double top pattern on 1H t.f and a violation of its neckline. That provides a nice confirmation to open a counter trend short trade. Look at this retracement that followed then. In this situation, there was no need to open 30 minutes chart because a signal was spotted on 1H. I will show you when one should apply this t.f in another setup. Once the price is on a key daily support, start looking for a bullish signal. For me, it will be a bullish price action pattern. USDCAD is in a strong bullish trend. The price tests a key support. It can be a nice area for a day trade. Opening an hourly chart, we can see no bullish pattern. If so, open even lower time frame, quite often it will reveal hidden confirmations. A bullish formation appeared on 30 minutes chart - a cup & handle. Violation of its neckline is a strong day trading long signal. Look how rapidly the price started to grow then. In order to profitably day trade Forex, a single time frame analysis is not enough . Incorporation of 3 time frames: one daily and two intraday will help you to identify trading opportunities from safe places with the maximum reward potential. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDEducation
by VasilyTrader
15