Seems that the beginning of this week is all about breakouts. We have important breakouts of crucial levels on major instruments. In this video, we will traditionally analyze three instruments but you can be sure that we picked the best ones!

Lets start with Gold, which currently is on the lowest levels since the middle of July. Today and yesterday’s candles look very negative and the reason for that is the breakout of a crucial horizontal support on 1850 USD/oz. This is definitely negative and brings us a proper sell signal.

Now we move on to indices, where on the other hand we have a positive sentiment. SP500 escaped from the symmetric triangle pattern present in the last two weeks. The breakout is to the upside, so it brings us a mid-term buy signal.

From New York, we move to London, where FTSE is having a similar situation. Here, the price also broke the upper line of the triangle and is aiming higher. Sentiment is positive and we should be aiming 6500 now, so the major resistance from June.

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About Author

Tomasz Wisniewski

During his career, Tomasz has held over 400 webinars, live seminars, and lectures across the globe. He was also an academic lecturer at Poland's Kozminski University. In his previous work, Tomasz initiated live trading programs, where he traded on real accounts, showing his transactions, providing signals and special webinars for the accounts; none of which were ever negative. Tomasz gives preference to a technical approach to trading: mainly price action with very strict money management rules. He believes that the most important thing in trading is your mind, so it is much better to focus on trading psychology than to look for the Holy Grail of trading systems.

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