This is a setup we are currently waiting, we have already set our Buy Stop orders: Main items we can see on the 4HS CHART: A) The price is above a previous resistance zone now working as a support B) Both the Previous Resistance and the current support have been tested multiple times from both sides C) Currently, we can see 2 corrective structures above...
Use this as a guide to develop your view of the situation: Main items we can see on the chart: a) We should Focus on the "Major Support Resistance Zone." b) Take a look at how we can use that support resistance zone as a clear divider for "The price above or below it." c) After the price testing the zone as a resistance we saw a breakout with a bullish...
High probability of an increase in the GOLD I do not recommend GC for sale
The main trend is down. After a weak closing on Thursday, expecting further pull back on Friday. If prices bounce off of $1682 level, then the market may trade within a range from $1682 bottom to $1737 top. If $1682 is broken, the next downside targets are Fib levels at $1660 (0.618) and $1620 (0.5). RSI indicator is pointing toward lower prices.
high probability that the price will come to hit the $ 1660
The Analysis is based on the Harmonic Pattern and the E waves. But still subject to more signals. The uncertainties are, 1. Technically, for both Harmonic Pattern & E waves, they don't tell you the exactly top/bottom for the pattern; 2. For fundamental, the unlimited QE depends on the Dollar liquidity, we can only follow the change of the situations. 3. The...
Because the price of gold has reached a new high, we have to change the Elliott wave count from a simple corrective pattern to an irregular or running correction. Only in this type of corrective patterns, the new high may be reached as a wave B. This wave also consists of three sub-waves. What is more, the upward movement has stopped at the upper limit in an...
With this post we are not saying, "The price will start a bearish movement" What we want to express here is: IF the price starts a bearish movement (that would mean that the resistance zone was strong enough to make the price Re-enter again), We will trade it in this way. Main items we can see on the Daily Chart: a) The price is on an ascending channel b)...
I was watching this last week and it has completed the pattern as of today. Watching this closely as the measured move is around ATHs in gold. Closing above the structure and ill be adding to longs. Happy trading traders!
This is my first post, would love to hear your feedback :)
In coming Months i will be looking to short Gold depending on How it Retraces this Down-move and Timing that on Lower Time-frame Charts
Use this as a guide to develop your view of the chart. Main items we can see on the 4hs chart: a) currently, the price is on a Support zone b) On that support zone, we expect a reaction towards the broken ascending trendline c) From an Elliott perspective, we have a full count 12345 and now is correction time d) How is a correction composed of 3 Waves...
Just shared my opinion. :) 50/50 long and short all mixed, I will be ready with very extra margin founds. When you trade that's your own risk. Goodluck!
Gold is an important support area at 1550 We should not close less
Gold has made the move higher as a prior idea was showing could happen and is now in a top side consolidation. I will be watch to see what side of the golden zone breaks but for day scalps the red zone will be the intraday signal i will be watching for scalp trades. Big picture I am still leaning long but will take profit if the gold lower band breaks.