We have an extended trend on Gold right now. When will a deep pullback take place?
Let's take a closer look and see...
4 hour trend is extended, and the 1-hour trend has just been recalculated.
We are expecting the 1-hour trend to continue down to a level of demand located near the 100 SMA on the 4 hour chart.
Once we hit demand, then start looking for...
CCI is above +100 on the 1 hour chart
We are at the beginning of the 1 hour trend and creating the 2nd wave.
Previous resistance is now becoming support.
We are also finding support at the 1 hour TrendCloud.
4 hour chart is also in an uptrend.
Trade entry at PDO
Let's see if we can catch this 1 hour trend for 5 waves.
4 hour chart MACD is showing bearish divergence and also cycling down.
1 hour chart is in a downtrend and CCI is below -100
15 chart shows a downtrend and Fibonacci retracement level of .618 inside a supply zone.
Let's see if we can hit .618 and take the trade short all the way to the 50SMA on the 4 hour chart.
We can only take what the market gives us.
We can control the market. We can only control our stop loss and manage the risk in our trade.
Hopefully, we get the full 5 waves out of this trend.
That would be an awesome payout!
Link to this strategy in my profile :)
TrendCloud Signal triggered on Crude oil today.
blue line: entry
Red line: stop loss
4 hour / 1 hour / 15 min charts all line up in trend strength and momentum.
Trade Plan link in my profile.
Watch how TrendCloud lines up this momentum shift on Natural Gas.
4 hour chart: Trend and Momentum are both red, and breaking structure to the downside.
1 hour chart: Trend is down, so TrendCloud turns everything red and shows you a crossover signal. CCI is also below -100
15 min chart: TrendCloud Entry signals start flashing. At this point you can take the...
