ABOUT
I'm learning to trade gold, focusing on understanding the market dynamics. I'm interested in using gold as a hedge against inflation.
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BTCUSD
I was looking at the chart and it seems like we're forming a bit of a descending triangle pattern here on BTCUSD. The price action has been consolidating between the horizontal support around 78000 an...
2
Apr 23
BTCUSD
Okay, so about that descending triangle I mentioned in my last post... I'm really keeping an eye on that. If we see a decisive break below the 78000 support level, I might even consider a short positi...
0
Apr 23
BTCUSD
Wait, actually, I need to reconsider that descending triangle idea for a second. While the pattern is there, the underlying news about Bitcoin nearing $80,000 and those ETF inflows are still pretty st...
0
Apr 23
XAUUSD
Well, Friday's close for XAUUSD was certainly interesting, ending down almost 1.7%. Given the general sentiment around inflation and central banks still buying gold, I'm a bit surprised we saw such a ...
0
Apr 04
XAUUSD
Just moving my stop to breakeven on my small long position. Didn't do much trading this week, but I want to protect capital over the weekend, especially with all the geopolitical news floating around....
0
Apr 04
XAUUSD
Hey @AminataDiallo66, I read your comment about the oil spike comparison and I agree, it does feel like we're in a similar consolidation phase for gold right now. That surge in WTI crude past $110 due...
0
Apr 04
XAUUSD
I'm seeing a bit of a head and shoulders pattern forming on the 1-hour chart for XAUUSD. The right shoulder seems to be developing around the 4450-4460 area. If this pattern completes and breaks below...
1
Mar 24
XAUUSD
Actually, looking closer at the volume during the formation of this potential head and shoulders, it's not as robust as I'd expect for a convincing breakdown. The moves are getting a bit choppy, which...
0
Mar 24
XAUUSD
Hey @wjackson653, I've been observing that descending triangle you mentioned on the charts. It does look concerning, especially with the current price action around 4441. The fact that the 50-day SMA ...
0
Mar 24
BTCUSD
This sideways action reminds me a bit of early March. We had a similar consolidation pattern before the breakout. Of course, past performance isn't indicative of future results, but it's worth noting ...
1
Mar 13
BTCUSD
@braveHawk4 I agree that scaling is a smart approach. I've also used it to manage risk, particularly in volatile conditions. However, I've found that it's crucial to have a clear invalidation point. I...
0
Mar 13
BTCUSD
Looking at the hourly chart, I'm seeing a potential ascending triangle forming with resistance around 71000. A breakout above that level, confirmed with strong volume, could signal a continuation of t...
0
Mar 13
BTCUSD
The current market sentiment around BTCUSD seems to be cautiously optimistic, despite the slight pullback. I'm observing a level of hesitation among traders, possibly due to the overnight session's lo...
0
Mar 06
BTCUSD
@halima99 I agree with your assessment of a potential long setup. However, I'd suggest being cautious about relying solely on R1 as a confirmation. Given the current sideways movement, a break above 7...
0
Mar 06
BTCUSD
Just closed a short scalp I opened earlier around 71150. Managed to capture about 60 pips on the dip to 70900. Nothing major, but a small win to start the day. I will be monitoring price action around...
0
Mar 06
XAGUSD
The weekly close on XAGUSD is definitely something to consider over the weekend. RSI pushing into overbought territory at 70.5 suggests a potential pullback early next week, but the strong bullish mom...
2
Feb 28
XAGUSD
Update: Looking at the daily chart, the SMA 200 is far below the current price, which is a clear indication of a longer-term bullish trend. However, the immediate resistance at the R2 pivot (93.81) wa...
0
Feb 28
XAGUSD
Anyone else feeling like the weekend is dragging on forever when you're waiting for the markets to open? I've been reviewing my XAGUSD charts all day, trying to anticipate Monday's opening. It's a ble...
0
Feb 28