Short Gold?
StatsEdgeTrading
Welcome to Forex Market Mondays, where we dive into how I’m using backtested strategies and technical analysis to navigate Forex, crypto, and metals markets. My approach is simple: I combine proven statistical edges with technical levels to guide my trading decisions, allowing for both structure and flexibility.
Bitcoin's Key Level at $70,000
Bitcoin continues to hover around that crucial $70,000 level. After hitting it again, we're seeing a sharp rejection. The next few days will be critical—will it push higher, or are we looking at a potential Bitcoin bear market? I’m still holding some Bitcoin from an earlier entry, waiting for that breakout before making any more moves.
GBP/CHF: A Short Opportunity?
GBP/CHF popped up on my algorithmic scan with a potential short setup around 1.14 to 1.15. After a big move down, the algorithm is signaling a potential opportunity to short this pair on any pop higher. Alerts are set, and I’ll wait to see how the price action unfolds before making any decisions.
Gold: Long and Short Levels to Watch
For Gold, I’m tracking two levels. A potential buy around 2,681 and a possible short near 1,775. Both are key areas where the backtests suggest there’s an edge. However, I’m not jumping in blindly—I'll wait for price action confirmation before pulling the trigger.
Key Takeaways:
Bitcoin's rejection at $70,000 could signal either a massive breakout or a potential downtrend.
GBP/CHF shows a possible short setup with key levels to watch between 1.14-1.15.
Gold has long and short levels set, but it’s all about waiting for the right price action.
By using a combination of statistics and technicals, I can remain objective and wait for setups to hit my predefined levels. If you want to dive deeper into these strategies, check out StatsEdge Pro, where I provide real-time alerts and insights.