algofxpro

algofxpro

As we can see GOLD has been bullish the last few weeks and it's getting more volume every day. It may touch 2550 but after a pullback correction. I have drawn my analysis the chart based on my analysis. Also, I used the Heikin-Ashi chart and trendline for that. But, not only that, but also I used Japanese candlestick on the lower timeframe as well. So, my next...

algofxpro

It's so simple, that I used the SMC strategy to mark the supply and demand zone and then wait for a proper rejection to execute the trade. Here in this chart, you can see I marked two zones and my direction is bearish because the trend is bearish. According to my plan, I'll split my trade size in two-part, first TP (take profit) will be around 1.0614, and the...

algofxpro

A higher chance that the EURUSD to go down to get support properly! EURUSD may go down to get support properly because it has not touched the supreme demand zone to continue the bullish trend! As it was previously in a bearish trend on a higher timeframe it must go and properly get support from the most demandable zone. So, look at my drawing on the chart and...

algofxpro

This setup is based on the SMC (Smart Money Concept) supply and demand zone! There are 2 different demand zones I marked based on two different timeframes, the first one is on the 15-minute chart and the second one is on the 1-hour chart. I prefer to enter on the 15-minute timeframe because of the trend as it's a strong up trend. So, this is my GOLD trade setup...

algofxpro

I tried to identify the next possible move of GOLD by applying the SMC (Smart Money Concept) simple supply and demand strategy! Here, I marked a valid and extreme demand zone and Heikin-Ashi 50% retracement. So, please comment on who uses the SMC concept to enter the market so I can get more confidence. Thank you

algofxpro

As GOLD attempts a massive bearish movement and today is the opening day of the week, regarding my analysis, we might not see a smooth bullish movement today. I'll wait for a short from my Fibonacci golden zone between 70.0 & 79.0 levels. So, let's wait to reach the zone and raise an opportunity to go short with proper confluences. Thank you and Happy Trading

algofxpro

I'm bearish on EURUSD today because in higher timeframes (daily, four hours, one hour, and thirty minutes) the price is rejected from the upper side and it's at the supply zone. Also, got a rejection from Fibbonachi 38.20 with a 30-minute big engulfing candle. So, all the confluences are in my favor that's why, I'm bearish today at least for 1:2 RRR. This is not...

algofxpro

Hi GOLD traders, it really noticeable that XAUUSD engulfed the previous 5 months and still going down this month. So, we can definitely say, it's a massive trend-changing move. As you can see my Fibonacci retracement points, have passed 61.8, 50 & 38 levels as well, and now target to reach the 0 level. It looks like, GOLD might touch at least around 1830.00...

algofxpro

This week is very important for GOLD in the forex market. It may go up or down based on certain price actions: It may go up: 1. The next daily resistance level is around 1950.00 2. The market's recent trend is up (bullish) 3. If breaks the 1950.00 level and retests, it may go up until 1980.00 It may go down: 1. As we can see the rejection from the upside 2. The...

algofxpro

I'm going to a short position for 1:3 RRR The reasons: 1. The downtrend started 2. Multiple rejections from the upper side 3. Fundamental analysis (CPI) is in favor of USD 4. One Hour Candle Is Below the 200 EMA 5. Multi-time frame confirmation

algofxpro

As we can see on the 30-minute chart the fibo-retracement from 50% and can't cross the trend line. Friday, last week the Employment Change and Unemployment Rate news was in favor of CAD as well, the dollar index (DXY) is decreasing. So, I'm bearish on USDCAD today at least for 1:1.5 RRR Do you agree with my analysis? Thank you, Regards

algofxpro

As we can see on the daily chart, EURUSD follows a head and shoulder pattern that already breaks the neckline, and the trend line as well, as a result, goes consistently down. Also, it's running under the 200 EMA which is another strong confluence that the market is in a downtrend. So, I'll enter the market after the final test at the neckline. My plan is to go...

algofxpro

As per my previous analysis (), GOLD respects all the zones and the head and shoulder pattern. I got my desired profits. But, today's scenario is a little bit different. As we can see on the chart, the 4-hour candle closed below the 200 EMA and 9 & 14 EMA as well, the overall market is on bearish movement but the 4-hour closed candle is bullish, which means most...

algofxpro

We saw that the NFP favored the dollar last week and didn't move as much as we expected. Still, DXY is strong and XAUUSD has been in a zone for a while with multiple upper rejections. In this case, I'm waiting for a head & shoulder pattern breaking the neckline (1938.00) from the lower side and retesting the breakout. On the other hand, it may continue with its...

algofxpro

I'm bearish on GOLD now for 1:2 RRR. But definitely, I'll close my trade 30 minutes before the NFP news whether it's in profit or loss, because I don't want any unexpected result. In my analysis, I believe the market will grab liquidity before the news and today my assumption for the news is bullish, so I'll close this trade and re-enter the market after the...

algofxpro

My GOLD Trading Analysis () and Live Market Condition Right Now!

algofxpro

As we experienced the last three days GOLD is super bullish, continuously breaking higher highs and going in that direction. In my analysis, it's time for a big pullback, so I'm very conscious about taking any trade (continue or reverse) I'll scalp today with proper support & resistance. Thank you

algofxpro

As I said in my today's analysis () GOLD may touch 1944.00 and it's touched. I got my 1:3 RRR, happily calling the day! Thank you all