Gold Gold Daily Video, May 29, 2023

[Sive Morten]

Good morning,

We expect tough few weeks for the gold market due debt ceil agreement achieving. Now we're still focused on 1922$ target, but afraid that it could be reached right with gap down opening on Tuesday:

 

[davedubai]

Thanks Sive ..
On Dot .. No possible trade seen in XAUUSD except holding on shorts of 1965

 

[Tradeitanyway]

Hello Sive , am posting my view for gold , I am bearish since 2040 level

An mentioned before, gold has completed major 5 waves high at 2080+/- then was on selloff mode, clocking 1937 low on Friday 26th May.

Let’s make it short, gold has broke last month low and currently forming a shooting star monthly time frame which hints for deeper corrections that can extend to 1904 1895 as wave A green, then correction up to 1964 and 2007 levels as B green on chart, followed by wave C correction that can extend to 1840 1807 +/-

A break below 1807 1803 wave (4) origin is extremely bearish. In this case we can either retest 1780 1730+/-

I will make up update should any reversal happens.

Regards

 

[Tradeitanyway]

Hello Again Sive, you might see an interesting setup in the market USDJPY, I like these trades because it's safest and easiest entry, selling a pair upon testing an upper channel with bear flag potential formation on daily time frame is high in profit vs risk.

I am posting interesting setups in the market.

USDJPY has been on my radar for some time now. An interesting setup, bear flag might be in progress as WXY correction as wave (4) still unfolding. We are approaching resistance @ 141.00 141.80 . We should not exceed these two levels for pattern to play right. ”

A break above 142.50 142.90 is bearish setup, the count should be revised then.

Target of this patter should be at least offer a rejection to 136.00 133.00 zone, you should monitor price action for any potential bullish reversal. A break below 127.00 level targets 123.50 , 121.60 118.00+/- in extension.

Resistance: 141.10 141.80
Support: 136.00 134.00 130.50 128.60

Invalidation a break above 143.00 + daily or weekly close above it.

Regards

Note: this analysis reflects my own objective and trader should check other analysis. Manage your risk properly.

 

[ward133]

Good morning,

We expect tough few weeks for the gold market due debt ceil agreement achieving. Now we're still focused on 1922$ target, but afraid that it could be reached right with gap down opening on Tuesday:

Excellent analyze Sive

 

[Sive Morten]

USDJPY has been on my radar for some time now. An interesting setup, bear flag might be in progress as WXY correction as wave (4) still unfolding. We are approaching resistance @ 141.00 141.80 . We should not exceed these two levels for pattern to play right. ”

Yep, there was an article, by the way that short positions on JPY have increased significantly. This is due to both the recent collapse of the Japanese currency and the expectation of an increase in Fed rates. According to the Commodity Futures Trading Commission in the week ending May 23, hedge funds increased their shorts by 10,986 contracts to 53,706, the highest since last June.

️In May, the yen shows the third worst performance among peers in the G10 against the stronger dollar...