Previous Week Update:

  • Before:

Gold Update.PNG

  • After:

Gold H4

Didn’t follow any of the paths, instead it created a nice range as I expected because there was no major news and we have NFP coming up. Plus, it was at a very critical zone!


Upcoming USD News:

  • Tuesday
    • CB Consumer Confidence
      • Previous: 121.1
      • Forecast: 120.3
  • Wednesday
    • ADP Non-Farm Employment Change
      • Previous: 178K
      • Forecast: 186K
    • Prelim GDP q/q
      • Previous: 2.6%
      • Forecast: 2.7%
    • Crude Oil Inventories
      • Previous: -3.3M
  • Thursday
    • Unemployment Claims
      • Previous: 234K
      • Forecast: 237K
  • Friday
    • Average Hourly Earnings m/m
      • Previous: 0.3%
      • Forecast: 0.2%
    • Non-Farm Employment Change
      • Previous: 209K
      • Forecast: 180K
    • Unemployment Rate
      • Previous: 4.3%
      • Forecast: 4.3%
    • ISM Manufacturing PMI
      • Previous: 56.3
      • Forecast 56.5

Monthly: Monthly closed bullish and is starting to break out of the triangle, but we will need a monthly close to confirm this. For now, we look at lower timeframes.

Gold Monthly.PNG

Weekly: Weekly closed bullish, however, on the lower timeframes you will see we were simply ranging. But usually when there is a doji then a bullish candle in a bullish market, it usually means continuation, but it is NFP. So tread carefully!

Gold Weekly.PNG

Daily: Highlighted Zone shows you are nice range. Simple, we will break out, wait for retest then we will start our trend. Up or Down? Don’t know. Wait and see. Go with the trend, it is your friend after all.

Gold Daily.PNG

H4: Highlighted Zone shows our range, and we can see that we also have a trendline. If we want to start a bear run we must break that trendline, and it is entirely possible for us to test the trendline this week and either bounce or break. BUT NFP!

Gold H4.PNG

Gold Overall Analysis

If you read my PDF, you know what to do with this Ranging Box. Simply, look at my analysis above, wait for breakout, retest, and ride the trend that it will have created for us.


Predicted Movement:

Gold Prediction

All paths are possible, I see B being a strong possibility. BUT it is NFP! So, breakout, retest and we go ride the trend. Keep it simple <3.

IN ADDITION:

To all who have read my PDF, if there is any feedback or something you want me to cover in my PDF 2.0, please e-mail and let me know <3.

Whoever knows how to add a booking system to WordPress please do let me know. I will be looking to take 1 on 1 sessions for 30 minutes to 1 hour to discuss any questions you guys might have about swinging or just general FX.

Have a great week to you all and THANK YOU for all the support.