Forexgurubd

13/02/2024

07/02/2024

The month of January can be described by one picture below. In general, the price of XAUUSD was very choppy. It fluctuated back and forth throughout the month. In terms of months, January closed in a bearish mood. We can see that the price action formed an inside bar pattern. However, on the weekly timeframe, we see a fake-out of the inside bar. The bears took liquidity at the two-week highs and pushed the price lower, but it did not go lower and pulled back from support.

After the news on Friday, the price fell below the previous two-day lows and bounced back. Overall, I expect the market to continue to fluctuate as it has not yet broken out of the range zone. Given that the DXY has reached a resistance zone, we can expect some pullback from it, which will be reflected in gold. Although it has moved out of the range boundaries, this could turn out to be a false breakout. On the 4H timeframe we have a big bearish candle which stopped falling at 2030 level. There was a similar movement at the beginning of January – a strong fall and a pullback, which turned into a sideways movement. Pay attention to the 2030 and 2050 levels as the price narrows between these levels.

As we can see, there is a lot of rejection at the 2020–2030 support levels. On the 1H timeframe, XAUUSD formed a lower high, and it’s forming a 1-2-3 move. I expect some rejection at the support level and to buy confirmation. If it goes below the 2020 support level, the next area to pay attention to is near 2000. Because the market is moving sideways, you can see that it grabs liquidity above or below the highs and then moves in the opposite direction. If the market forms a rejection candle, such as a long-tailed bar, I think bulls will try to push the price towards the local high at 2040. My goal is the resistance zone at 2038.50.

The price perfectly fulfilled my last idea. It reached the buying area. XAUUSD market rebounded from the strong support level. The price formed tweezer bottom on the 4H timeframe. I think the market might just keep moving back and forth in the range zone as it did before, right at these price levels, in anticipation of the next news release. However, if the market rejects the support level, a complex pullback may be formed. I expect the price to pull back down and go upward to local highs. My goal is the resistance zone at 2036.50

30/06/2022

Hey guys , We are back with BTC overview . We sow that BTC failed to break $ 21700 zone and came down to $ 20K . For now we have decided to short the BTC to $ 18.5K after what we should witness a nice pullback .

What is the reason behind that you might ask ?

Firstly - we see that major support is at $ 18.5K . Secondly - by reaching $ 18.5K we are going to see " Double Bottom " pattern . Thirdly - Failed to break several times the $ 21700 line .

20/06/2022

XAUUSD covered the Fair Value that was created while it was trending heavily to the Downside.
It is currently consolidating and gathering momentum for a impulsive move.
There is a Formation of a bearish Flag formed and hasn't materialize completely.

22/05/2022

As we can see the price now is in the Range zone and major supports here are formed , we are looking for a pump here like the green arrows mentioned on the chart . Major resistances and supports are all mentioned on the chart + 33K is major resistance now .

< press like if you enjoy + comment your opinion about the market or your thoughts , below this analysis >

27/04/2022

Hello traders!

BTC is giving lots of stress to many traders as it is staying in the same range for many days, no it's time to scan BTC to see where it's heading.

The first pattern in the picture is the Head and shoulder pattern and it failed to drop hard. It's a sign that the market doesn't want to move down.

The second pattern is the 'J' shape pattern and it's the pattern that is formed to drop hard. Normally market dump from the peak of this pattern and sometimes it forms expanding Channel pattern at the top of 'J' pattern and the market drop after that.

The third pattern is expanding channel and after the breakout of expanding channel market moved towards the bottom and after that it always retrace back towards the start of 'J" pattern and drops exactly from there. It was the perfect setup and the market gave a successful drop but again it failed to drop hard. Normally it moves least 1:1 or 1:2 size of the J pattern but in this case, it failed to move towards the downside and it is another sign that the market doesn't want to move downwards.

My true reversal point is at 37475, the market can rise from here or it can arise suddenly after a breakout of 38200 support.