the price has broken the channel for a while and moved in range.
with last day moves it seems now forming a bullish pattern and
getting ready to go upward.
it may have a short term move or become a trend. (we will see)
but for now if the trigger level broke price can test around 1.012
if you take any long position your stop loss would be below 0.995
also can move in range between 1 and 0.995 for more hours before
any bigger movement.
below 0.995 our next key level would be around 0.9863 , lets see
Comentarios
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I am also bullish on gold and chart below is my setup for short term target around 1754 level. but if the price loose our key level support can drop to 1696
Comentarios
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let's make it more clear setup: the price has tested above the trigger level but couldn't hold it and right now has formed a local channel. we can expect bullish if this channel breaks upward. if not the price can keep moving into the ranged area or even drop. so you should consider new setup of entry and stop loss until the trend be more clear.
I don't see any strong bullish momentum for this setup. To me it looks more like a corrective pattern perhaps waiting for another trigger for sell. But price can go to any directions.
bestfarbit74
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@Yusofjfx, yesterday we had signs for a bull momentum right now yes the signs are more sideways. we are talking about 1H chart I think mentioned it almost in every comments that our setup is for short term by the time of publishing if you play the chart you can see the price jumped and broke my level with a long bar today I refreshed the post that we are moving sideways and need to setup new entry and stop loss also mentioned if the price closed below 0.995 it probably drop to 0.986 so can be short setup too. thanks for the comment
Rajsarkar
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Your idea is quite good but for today unless it breaks 1.0050, EURUSD can drop again
bestfarbit74
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@Rajsarkar, look at the chart again and also if read my content. I mentioned about ranged move area before any bigger moves. we have tested above the trigger level several times so if the price can not hold it clearly it will drop so in new setup we should consider new entrance and stop loss
Yelli_trades
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hey) thanks for sharing. it's very probable. I myself will follow some bearish side this week
bestfarbit74
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@DemoDiaryFX_Trading, yes I already mentioned about short term setup and longer timeframes still bearish I also mentioned about ranged zone that you explained it too. thanks for sharing your idea