Thread: Trap the Market

Be skeptical of XAUUSD (Gold). Why is price action on Gold ambivalent up to now? A goal is still of bears southward; recall yesterday's post as well as the zone indied. Any fundamental news may be seized upon to drive price action to the zone.

KP

Originally Posted by ;

if you're tracking XAUUSD (GOLD), do not feel tempted to go for a long trade. It is much better to wait for price action to enter a support zone a weekly time frame support zone. Technically, the market is still bearish but we may see a response for a northward turnaround round the 1315.90 area. Trade secure and prosper. KP

Very good monitoring. Notice the previous wicky price action (candlestick formations) around the zone around the H4 time frame. However, we have to wait before searching for a buy trading chance around the zone.

Trade safe and prosper.

KP

Originally Posted by ;

quote That level is connected by 1.382 extencion fib of last movement. Looks fine.

Originally Posted by ;

See attached H1 chart; probably turnaround zone is bound by purple coloured horizontal lines. I may be wrong. Trade safe and prosper. KP image quote

That amount is related by 1.382 extencion fib of past motion. Looks nice.

Watch attached H1 chart; likely turnaround zone is bound by purple coloured horizontal lines.

I may be incorrect. Trade safe and prosper.

KP

Originally Posted by ;

If you're monitoring XAUUSD (GOLD), do not feel tempted to go for a long trade. It's much better to wait for price action to enter a support zone, rather a weekly period service zone. Technically, the market is still bearish but we may see a response for a northward turnaround round the 1315.90 region. Trade safe and prosper. KP

Originally Posted by ;

If you're monitoring XAUUSD (GOLD), don't feel tempted to go for a long haul. It's much better to await price action to enter a support zone, preferably a time frame support zone. Technically, the market is still bearish but we may observe a reaction for a northward turnaround around the 1315.90 region. Trade safe and prosper. KP

searching for any market entry?

If you are monitoring XAUUSD (GOLD), don't feel tempted to go for a long haul. It is better to wait for price action to enter a support zone a period support zone. Technically, the market is still bearish but we may see a response for a northward turnaround around the 1315.90 region.

Trade thrive and safe.

KP

One of the pairs I'm currently watching is GN. In case it retraces into the pivot, which can be in confluence with the immediate 4-H resistance zone, I will be disposed to go southward using it. Trade safe.

KP

EURUSD is at a weekly resistance zone however there's room for northward move, USDCAD is making a bearish push through a weekly support zone, GBPUSD is retesting the weekly battle that corresponds with a weekly resistance zone for a push. Trade safe.

KP

If you use too many technical indiors, technical indiors which do not perform roles or utilize technical indiors as signals rather than as part of a important confluence variables, you'll get stitched. Trade safe.

Originally Posted by ;

How can you successfully snare the market on a consistent basis? Operate within important S/R zones. KP

it's crucial to specify and frame your important S/R zones based on the daily TF. Trade safe.