Technicals – TP Market Trades https://www.tpmarkettrades.com/marketanalysis Thu, 25 Nov 2021 01:57:47 +0000 en-CA hourly 1 https://wordpress.org/?v=6.6.1 https://www.tpmarkettrades.com/marketanalysis/wp-content/uploads/2021/11/favicon-32x32-1.png Technicals – TP Market Trades https://www.tpmarkettrades.com/marketanalysis 32 32 XAUUSD Technical Analysis 23.11.2021 1h chart https://www.tpmarkettrades.com/marketanalysis/2021/11/22/xauusd-technical-analysis-23-11-2021-1h-chart/ Tue, 23 Nov 2021 01:46:23 +0000 https://www.tpmarkettrades.com/marketanalysis/?p=93

-We’ve seen a Massive Drop on Gold after the President Biden picks Jerome Powell to Serve As Chair of the Federal Reserve for 2nd Term. and DR Lael Brainard to Serve as Vice Chair,
  • Overall the Bearish move on Gold also played out on Technical side based on previous Daily Candle (19.11.2021) Closing Bearish below Support at 1850. Buys Above 1811 is to have a better confirmation for price to close above the recent Resistance on the 30min Targeting 2 Strong 4h Previous Supports on the left (1816 and 1825), Those Targets could be met by the end of the Week and it all depends on Volume in the Market. Reason for having 72 Pips as A No Trade Zone is because when we usually have big moves more likely the price could possibly consolidate before breaking out of the Zone so is better to allow Price Action to Form.
    • Sells below 1803.800 makes perfect sense as the Current Daily Candle flip Bearish and breaking it’s Own Low. When looking at the Monthly Time Frame the candle is still Bullish so possibly this could be just a Pullback on the HTF from the Recent Resistance at 1815 to then Retest the Highs (HTF).
    News : We have Flash Manufacturing PMI and Flash Services PMI (Medium Impact News), They are looking at Good Numbers and if they turn out to be better than expected we could see gold Retesting the Previous Daily Candle Low at 1802 to then target 1799 and 1793.400 Previous Daily Resistances.
    ]]>