It has been a while since my last post.
With AI taking my business, I have more time for trading than ever before.
It is a shame I only need 30 minutes per day 🙂
The trading analysis from last time was on AUDUSD.
Seems like price has really gone down as expected but then it met support and reverted its direction.
Currently it is trading higher than where it was last week.
I am not holding any positions in this pair.
Would be interesting to see how the price will react to the next major supply zone at 0.6800.
Gold Trading Analysis 09.05.2023
Today, I am looking at Gold.
Looks like we are in a steady uptrend.
The price has retraced slightly and currently is trading at 2035.
There was an inside bar on the daily chart.
This pattern will most likely pick up more buyers.
I will be looking at a possible retracement back to 2025.
I would ideally like to see a candlestick pattern on the 4H chart confirming the additional buyers.
On the other hand, I would be extra careful with the imminent supply zone at 2065.
Any bullish move could be short-lived if met with selling enthusiasm at this zone.
So be extra careful around this level.
Did you check my recent article on Why I Don’t Believe in Breakout Trading.