Andybell411

Andybell411

The dollar has been getting weaker and weaker. Yen are looking to hike interest rates. Downwards daily channel. Strong daily resistance. Strong fundamental backing to go short. Price would have to go 200 pips which is more than its current daily ATR to get to the next strong daily support/resistance further up if this structure isn’t strong enough but I don’t...

Andybell411

The fed is cutting interest rates in September. This increases the chances of Gold breaking the ATH. Gold has had ample opportunity to come down further but has not been able to. The recent most obvious attempt to go short which can be seen clearly on the H4 was then met with price reversing right to the ATH region again. The US are also getting good news...

Andybell411

Price has come down to a major swing point. Now price leading into this swing point has been making lower highs/lower lows (downtrend). This means that many trend traders will be looking to short once price breaks this swing point with sell orders under the swing. You also have traders wanting to get long as the swing point placing their stops behind the swing. As...