Quick and simple analysis. Wait for rejection of the support before going long. Multiple rejections will indicate a reversal and an uptrend.
If support breaks and then retested-close out position. Keep stop loss at 30 pips below support.
EUR/AUD is again at a fascinating position. It is touching the super important 1.66 resistance once again.
If the price manages to break through this level we might see enormous gains in a very short period of time. During this pivotal moment we will have to keep a close eye on the price to see what happens.
If the bulls manage to break through the resistance it...
Divergent RSI, 5 Wave impulse complete.
Goals are in blue (blue line)
Red line is invalidation.
This is my short term outlook while correction happens, on longer time scales gold looks very bullish. But I don't plan to keep my short in forever.
Call it syncronicity but I believe Gold, too, got out of its corrective phase. RSI might suggest a short term pullback on smaller timeframes, however. Anyway, I bought some yesterday and think this has got more to give.
Wait till price reaches demand zone. Let the price come to you and load on buy and scale to next supply zone.
Enter for the buy .71431
SL. below demand zone.
If anyone has any comments or criticisms-please share.
Thanks!
We started on the higher high in this latest impulse, and on the weekly it appears to be that we in Wave 3 of Impulse. I am just wondering now if we might at some stage next year or the year after see prices much, much higher than $2000 per ounce. The chart seems to support this.
