GOLD: First green day
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“Trade setups, not movements”
1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)
2. SIGNAL DAY
3. WEEKLY TEMPLATE
4. THESIS:
Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni
“Trade setups, not movements”
1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)
- Monday DAY 1 Opening Range
- Tuesday DAY 2 Initial Balance
- Wednesday DAY 3 (reset DAY 1) Mid Point Week ✅
- Thursday DAY 2
- Friday DAY 3 Closing Range
2. SIGNAL DAY
- First Red Day
- First Green Day ✅
- 3 Days Long Breakout
- 3 Days Short Breakout
- Inside Day
3. WEEKLY TEMPLATE
- Pump&Dump
- Dump&Pump ✅
- Frontside ✅
- Backside
4. THESIS:
- Long: this is my main scenario at the moment, but let's review the current template to have a better understanding!
Monday triggered weekly breakout traders, placing a higher high on top of the high of the week, before starting dumping down into the previous opening range high (which is Monday's high of day)
Tuesday, the market mostly consolidated into the current low of week, attempting to push lower, failing and closing as a first greed day.
Today, the high of day and other time frames are triggered in the market, with major red new at 10am NYT this market can keep going parabolic, or eventually starting a 2/3 days of dump and pump to complete by the end of the next week the weekly dump and pump template. - Short: right now, a part for a potential 3 session scalp, I do not see any further down move for the day, it does not mean that during the week it won't build a short template. For better clarification, I will be updating this post in a daily basis.
Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni
Nota
A potential short scalp was identified, but it moved with USD major red news, so I couldn't capitalise on it.
This short move can start the dump and pump for the further few days
Nota
New month, new week, today is the opening range of the week.
Gold, currently is still consolidating around the low of the week, is not in my favorite position but PMI at 10am of today can start building the new thesis of the week.
Long or short? Actually, there is not template I recognise, I will be waiting for better development!
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