Hi I hope you are well. We absolutely nailed our market call and especially on the XAU/USD trade setup. Both of which tested the 23,93 to 23,87 area as we expected before New York was open. But in place of ascending further, the market first tested the 23.81-23.87 resistance cluster right before NY came on line and moved south instead
At the moment when it was published, my first thought was that XAU/USD would start moving back up again and guess what; It also moved for a very short period of time but then market filled the imbalance i.e. 5-minute chart showed enough profits to make significant downward candle! I entered the market after this big candle retested This order block did not fill the gap for the rest of today and left a fair value gap (FVG) in its wake as market momentum then shifted downward.
Everything turned out as planned:-> More details on XAU/USD forecast you can find here.-
https://www.traderbaig.online/2024/07/xauusd-forecast-key-levels-and-live.html
> However, our XAU/USD analysis followed through with correct predictions and expectation in price movements. Markets has tested the key levels of 23,93 to 23,87 before New York session. But it also tried to check another secondary zone of 23,81-23.87before the session began and RU open for us the fall
When the news hit, I thought we would see more up movement as anticipated on XAU/USD but instead the market cleaned out that 5 minute imbalance and then some with a long candle down. This was a clear sign of changing the market feeling. After the retest of this major candle at its starting it was a perfect entry. After the dump, market loses its bullish momentum and made an OB/FVG confirming bearish trend.
Regarding BTC/USD, we continue to be on the side patiently waiting for that market meeting our levels.
You must be disciplined and wait for the market condition to fit with your trade style. This strategy is rather safe and the chances of making a bright successful trade are very high.
Market Testing Levels: Market tested the levels we anticipated to be honest. From the local point of view, the index holds within a bounds with wave (e) developing and forming an initial structure in is now over at 23,52-24.
Response: The news was followed by a very brutal response from the market, which moved much lower in big downward candle to erase an imbalance on the 5-minute chart.
Entry: The big downward candle was tested, giving a very clear entry point. That was when the market made a resumption of momentum to the south, creating an order block and FVG.
BTC/USD Trading Strategy: We will keep our patience to wait for the price range.
By persevering our methodology and patiently monitoring market environments, we can rely on making does decisions in trade to reach desired successful resolution.
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