Hi Traders! Arvinth here from the Home Trader Club team. The weekly summary and, review of May 2nd 2025 is here. It is now time to recap and summarize the trade setups that we had during this week. Below you will find a short explanation of all the trade setups we had this week and how it has currently developed now.
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Trading Ideas (Blog Posts)
GBPUSD – My idea here was “On the H4 chart, we had a strong bullish momentum and currently we have a bearish divergence between the first high that has formed on 21st April 2025 and the second high that has formed on 29th April 2025 based on the MACD indicator, which we may consider as evidence of bearish pressure. Also while measuring this strong bullish move we have two key support zones that has formed. The first key support zone is formed based on the 23.6%(1.32699) – 38.2%(1.31625) Fibonacci retracement levels of the strong bullish move. The second key support zone is formed based on the 50%(1.30756) – 61.8%(1.29888) Fibonacci retracement levels of the strong bullish move. So based on all this I expect short term bearish moves to happen now towards the key support zones shown in the image below (marked in green) and then the price to continue higher further”.
Current Scenario – In GBPUSD, based on the above-mentioned analysis, “I expected short term bearish moves to happen towards the key support zones shown in the image below(marked in green)”. The price action followed my analysis exactly as I expected it to here. The price moved lower and delivered 150+ pips move to the downside so far!
Silver – My idea here was “On the H1 chart, we could see that currently we have a strong bearish momentum here as well. In addition to this, the ADX indicator gave bearish signal here as well at the cross of -DI (red line) versus +DI (green line) and the main signal line (silver line) reads value over 25, we may consider this as yet another evidence of bearish pressure. Also while measuring this strong bearish move we have two key resistance zones that has formed. The first key resistance zone is formed based on the 23.6%(32.549) – 38.2%(32.766) Fibonacci retracement levels of the strong bearish move. The second key resistance zone is formed based on the 50%(32.942) – 61.8%(33.118) Fibonacci retracement levels of the strong bearish move. Until both these key resistance zones shown in the image below (marked in red) holds my short term view remains bearish here and I expect the price to move lower further after pullbacks”.
Current Scenario – In Silver, based on the above-mentioned analysis, until the two key resistance zones hold I was expecting short term bearish moves to happen here. The price action followed my analysis exactly as I expected it to here. The pullback that I was looking for happened with the price reaching the first key resistance zone, respected it moved lower and delivered a nice move to the downside!
Gold – My idea here was “On the H4 chart, the price which is moving higher has created a bullish trend pattern in the form of three higher highs, higher lows, we may consider this as evidence of bullish pressure. Generally, after a bullish trend pattern, we may expect corrections and then potential continuation higher. Currently it looks like a correction is happening. Also while measuring this bullish trend pattern we have two key support zones that has formed. The first key support zone is formed based on the 38.2% – 50% Fibonacci retracement levels of the bullish trend pattern. The second key support zone is formed based on the 61.8% Fibonacci retracement level of the bullish trend pattern. So based on all this until the two key support zones shown in the image below (marked in green) holds my short term view is bullish and I expect the price to move higher further”.
Current Scenario – My plan still remains the same in Gold, that is until the two key support zones hold my short-term view still remains bullish here and I expect the price to move higher further.
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If you have any further questions, don’t hesitate to drop a comment below!
Happy Trading!
Arvinth Akash
Home Trader Club Team.
