Hi there. Price has moved impulsively at the top of the pattern to the downside. Wait for the price to complete the continuation pattern that its forming and watch strong price action for sell.
HEALTHY RETRACEMENT -BULL FLAG - SMART MONEY IS AT THE BOTTOM 2012
XAUUSD is approaching our first resistance at 1233.86 (horizontal swing high resistance, 61.8% Fibonacci extension, 78.6% Fibonacci retracement) where a strong drop might occur pushing price down to our major support at 1219.38 (horizontal swing low support, 38.2% Fibonacci retracement). Stochastics (89,5,3) is also approaching resistance and we might see a...
The 4H chart presented here for Gold might be suggesting that an impulse rally at a lower degree could be in place at $1230 levels yesterday. Please note that according to the re-labelled wave counts yesterday, Gold could be unfolding into a potential Wave C, within the A-B-C corrective rally that began from $1160 levels earlier. A lower degree wave i or a could...
XAGUSD is approaching its resistance at 14.51 (100% & 61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse to its support at 14.28 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing low support). Stochastic (89, 5, 3) is approaching its support at 92% where a corresponding...
XAUUSD is approaching our first resistance at 1234.81 (horizontal swing high resistance, 78.6% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 1219.92 (horizontal swing low support, 38.2% Fibonacci retracement). Stochastics (89,5,3) is also approaching resistance and we...
We witnessed a big rebound in crude oil prices and a slight weakening in U.S. Dollar index today-one more factor which contributes to this short-term corrective upswing rally in precious metals is U.S Existing Home sales rise but despite the better than expected data graph of home sales have been in a large decline over the beginning of this year and overall...
The counter trend rally that began from $1160 levels in Gold is probably progressing in Wave C since forming lows at $1195/96 levels. On the 4H chart presented today, we have changed the counts to fit the most probable outcome, most like a combination could be in the making. Initial 3 wave rally seems to be a probable zigzag between $1160 and $1245, labelled as A....
XAUUSD is approaching its support at 1216.7 (61.8% Fibonacci extension, 61.8% & 38.2% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 1223.9 (61.8% Fibonacci retracement, horizontal swing high resistance). Stochastic (55, 5, 3) is approaching its support at 3.6% where a corresponding bounce could occur.
Gold remains bullish above $1195/96 levels, with immediate price resistance seen towards $1235 levels. Bulls could be looking to push through $1235/36 levels, before producing a meaningful retracement lower. Please note that the metal should remain above immediate price support at $1195/96 levels going forward and a safe trading strategy could be to buy on dips...
The first TP = 1,203.20 as the price made a low near 1,196. After that the Lower High scenario within the 4H Channel Down eventually prevailed, restoring the 1D chart to neutral bias (RSI = 51.209, STOCH = 53.842, Highs/Lows = 0.0000). This indicates that the two month Channel Up will be put to test once again as the 4H Channel Down after making a new Lower High...
Hi Guys, just wanted to share an interesting articole by David Brady @GlobalProTrader on 2nd August. I found it after reading this tweet by @TaviCosta twitter.com that hit my curiosity. Work in progress! Lol. Disclaimer: Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is...
Gold continues to print higher highs and higher lows since $1195 levels earlier. Please note that the metal had bounced off trend line support and also around fibonacci 0.618 support at $1195/96 levels earlier. Bulls should remain in control till prices stay above $1196 levels and push through $1250/70 levels at least, before deciding further course. Looking at...
XAUUSD is approaching its resistance at 1234.2 (61.8% Fibonacci extension, 78.6% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 1215.8 (50% Fibonacci retracement, horizontal pullback support). Stochastic (89, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.
XAUUSD is approaching our first resistance at 1234.12 (horizontal swing high resistance, 61.8% Fibonacci extension, 78.6% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 1208.47 (61.8% Fibonacci extension, 61.8% Fibonacci retracement). Stochastics (55,5,3) is also approaching resistance and we...
Hi there. Price is forming a continuation pattern to the upside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
Waiting for retest 1216 => Go Long Target to 1250.xx
Targets and stops on the chart. Don't forget to like and follow. Thank you.