Gold Educational Trade Idea - Sent on Mystery Trade Ideas
Please find the trade idea sent to the private community below!
Analysis with detailed explanation of the trade will be posted in the Public Community shortly!
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Back in 2022, I had broken my laptop and had been using Tradingview on my phone to analyse the markets for a while. Full video can be found on my tiktok page mysterypips.
GOLD - ADVANCE ANALYSIS ON MOBILE
WHAT IS A PIP?
Points in Percentage - This is a measured move from one price to another - With Gold a pip is 10 cents so for every 10 cents golds move that is a pip. In this case Gold dropped from $1853.00 to $1843.00. This is a drop of 10 dollars, In pips a $10 move in Gold would be 100 pips.
10cents = 1 pip
GOLD 4 HOUR EDUCATIONAL UPDATE:
We can see that Gold has reacted nicely at the 4 hour POI marked up. This could be a potential new Higher Low for Gold price to push up to create a new 4 Hour Higher high as well as a new All time high. Gold is still bullish according to market structure but there is also the small possibility that Gold might break the 4 hour Higher Low and push down as well.
GOLD 4 HOUR TIMEFRAME EDUCATIONAL ANALYSIS UPDATE!
Gold did not create new equal highs or a double top
Gold created NEW ALL TIME HIGHS at at 2450.00.
Gold also created a new Higher High for the 4 hour market structure
We can now expect Gold to drop anywhere between the most recent Higher Low and the new higher high that gold has just created before it continues to go up;
GOLD 4 HR TF & BELOW EDUCATIONAL ANALYSIS
Following Market Structure > Gold is bullish
We have the most recent high sitting at $2430 area. Price has a chance of reacting from that area to make a pullback before price continues to the upside
GOLD DAILY AND HIGHER TF EDUCATIONAL ANALYSIS
- Gold market has been ranging since August 2020 up until December 2023
-Price has recently broken out from the range
-Gold is only showing bullish momentum
