thebasiqtrader

Hello traders. This is my current view on Gold. Last week Wednesday Gold had some bearish pressure after what I saw as a retracement on the 4h tf. After that quick impulse to the downside, we then had a retracement that went on until Friday. A few areas that I considered as a possible rejection zone for that retracement was the 4h fvg and the 4h supply zone at around 2029.3. At the moment (30m) Gold is in a minor consolidation which happened after the move down that broke a low. So we might break below the consolidation and aim for the low at 2002.1 or break above it and head to the 4h supply zone. I will keep my eyes on this pair and react accordingly, Danko!I am seeing a retracement that is too strong for me to look for any short positions. Gold might continue breaking highs.

Hello traders. This is my analysis on Gols today, I am bearish on Gold this week. I did enter a long position this morning which resulted in a loss. This is what I think might happen if this 1h candle closes below the lows of this consolidation, my actual tp is around 1987.000 but I'm keeping in mind the probability of Gold tapping into the supply level that is at around 2065.000 because at the moment if you take look at the other side of this trade idea, this consolidation might be just a retracement before an impulse to the supply level. What do you guys think?If Gold breaks above 2054.270 then I will be closing for now. And wait some bearish momentum

Hello. This is my analysis on Gold this evening (evening this side), a 2-hour long consolidation phase after CPI caught my eye as I was looking at Gold and I anticipate it to retrace back into that range. I marked out the supply level that took out the lows of the consolidation, and that's where I will be looking to get involved in the market unless I find a different setup in the morning when I wake up (signs of continuation and no retracements).Update. Woke and found a rather interesting setup haha, I recognise some buildup when looking at the 15m, what I see happening is an impulse to the upside before possibly beginning to head down.I will be looking for entries if market reject 2037.2Market tapped into my level, I did have some buys to the upside. Got out and looking to sell if market breaks below the previous low (2034.270)

This is just a quick and simple way of how I look at the markets, this was analysed with the 15m then I zoomed into the 5m. I like to do it as simple as possible because I found out that the easier the better. Of course I have my own flaws but the main idea is to have that little edge. My main reason to post this is not to give you a strategy per se but to give you an idea of how you could view the markets, remember, what works for me might not work for you. So I used to try to predict the market a lot, you know trying to guess where the market might reverse next then I would place an order there, most of the times the market would go to that zone like I "predicted" but then would continue shooting straight through taking me out. I then came up with an idea that, why not try find entries in the move to my point of interest (going with the flow) instead of trying to guess where the market will reverse. Ever since I did that my trading began to improve. So my way of trading is simple, I focus more on waiting for big moves to my desired direction then finding entry points after the market confirmed its direction, that way I avoid trying to predict prices where the market might resist/reverse at. If the market does resist from a certain price then I again wait for a confirmation usually in the form of strong rejection candles then I find entry points after, sort of like the impulse correction impulse idea. Of course there is a lot more to this than 1 paragraph with a picture of a market structure that happened already but you get the idea :). Danko!

This is my analysis on Gold today. This is assuming Gold is done with its run up. Yesterday I wanted Gold to reach 2050 and did just that after stoping me out first haha. If the current 15m does break and close below the previous low them I will seek entry at around 2041.955. No matter how deep it goes down after I post this. Gold tends to always retest previous SnD. Again this might be a risky entry just incase it retests 2050 again. Thank you

This is just a quick trade that might go horribly wrong because it was rushed.I am expecting Gold to reach 2050 so there are still possible entries in the coming days.

Hello again. I still stand strong on gold buys. I see Gold reaching levels around 2445 sometime this week. I have 2 setups for possible entries, one from a 15m demand zone and the other one from a 30m demand zone. I am waiting for market to give me a strong rejection from either of the 2 levels then I will look for an entry. I have 3 scenarios here, the first and last one I like to call them less risky because I get to wait for that pump. The second scenario I take it straight at demand because it is my last point of interest in this scenario, If market ever breaks the demand then I step back for a while.Looking back at the explanation. I do not know what I meant when I said 2445

I see a clear downtrend on XAUUSD for the past few days. Im waiting for a possible rejection from a 4h supply zone with would potentially push market to the downside and possibly breaking below 1810.657 onto the weekly fair value gap or demand zone below it.I could take a risky entry from the supply zone, but its best to wait it out and get better confirmation from some bearish pressure. From there, one can look for a position on the retracement after the first impulse.This analysis will be invalidated if the market breaks above 1953. In that case, we might see gold rushing to the 4H FVG or the supply zone above. At the moment, I have no bias on the market until I see a strong, impulsive move from the current supply zone to the downside.