Candlestick analysis of major currency pairs as of 12/5/2023

Hello. Amazing day 🙂 Below are some recommendations for trading on the Forex market on 12/5/2023


On Gold at night updated historical highs 2074, 87 and formed something similar to the Absorption pattern. I don’t think we’ll run to collect the lows of 1804.69 as quickly. And given the end of the year, we can walk a little sideways here. I’ll see if we give a reaction to the level below 2009.33. If we start to roll back upward again, I will look at the reaction around the level of 2074.87 and higher in the area of ​​2110.00. I don’t recommend rushing into deals here; it’s better to wait until everything calms down.


Silver has a similar situation and Absorption is at the level of 25.22. It’s too bad that the highs of 26.12 were not removed, they look like an attractive target. And it’s possible that we’ll go there again. Today we stopped at FVG 24.33, I think we’ll go even lower to 23.65 or even 23.69. There we will look at the reaction and make some decisions. For a rollback upward, I’ll take the level of 25.07 for now, I think it will be clear whether we want to go higher or not.

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