Alan Solarsh analyzes forex charts in real time, spotting a bearish wedge and noting where price is pausing on the 50 and 200 moving averages. He identifies an order block and fair value gap, waiting for a channel breakout to confirm the next move.
Alan Solosh here master trader and ambassador for FBS let's look at the charts so we've got a bearish wedge that is formed here it is going to be the Fed interest rate decision Bearish which means that way I don't follow this technology I follow a different technology I follow the technology of candlestick analysis so the second candle is still below the atma. We've got one candle above the ATMA over here and and we're also the prices paused on the 50 moving average which is the 200 moving average on H1 significance why the institutions trade on those moving averages so also we're on an order block I'll show you where it is so these lines over here is where the order block is this block over here and where does it start from? You can see see that there is a fair value gap over here I don't think this is an order block I think it is just emotional trading we need to break out of this channel to see direction.
Double bottom forming - Gold ready for $4000 #trading #technicalanalysis #xauusd
