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Thread: WaslanW's trading journal

  1. #121
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    Gold prices ended Wednesday’s session up $23.72, hitting the highest level in two weeks, as investors sought refuge from volatility in the wider markets.



  2. #122
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    Gold is reacting to what we are seeing in the equities market, and that is fueling more demand for gold. From a chart perspective, trading above the Ichimoku clouds (on both the daily and the 4-hourly time frames) suggests the bulls have the overall technical advantage.



  3. #123
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    However, as you can see on the charts, the area between the 1261 and the 1265 levels acted as solid resistance in the past, so it is not really surprising to see prices are stalling.



  4. #124
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    The oil markets rallied during the session on Wednesday, as we tested the 200-exponential moving average yet again.



  5. #125
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    At this point, I need to see the market close on a daily chart above the $50 level to feel comfortable buying.



  6. #126
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    That’s not to say that I think we’re going to fall apart here, I just think that the market is looking a little bit strange in this area, as you would think the numbers today could have pushed things much higher. If we break the bottom of the range for the day on Wednesday, then I think the market goes looking to the $47 level for support.



  7. #127
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    Short entry following some bearish price action on the H1 time frame immediately upon the next touch of 0.7466 or 0.7506.



  8. #128
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    Go long following some bullish price action on the H1 time frame immediately upon the next touch of 0.7331.



  9. #129
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    The AUD is relatively weak, so although it rose against a very weak U.S. Dollar, it was not able to get above the nearest resistance level I highlighted in yesterday’s chart.



  10. #130
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    Go long after the next bullish price action rejection following a first touch of 1.3521.



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