Gold buyBreakout to the upside after small drop to the downside movement gold finds room the upside so we buy we go long
Friends
Sell to the downside Double top formation , as we are at our third touch so we expect the market to short.
Remember we only need two touches to be able to anticipate where our third touch will be as well as the next impulse will, evolve with the market and know that it doesn`t really have to retrace . And key to enter a good trade is a good chat pattern formation
Sell to the downside after clear chart pattern formationIn EURUSD I can see a double bottom formation to the downside, and obviously we are at our third touch and we expect a short to the downside.
We must be able to wait for a clear chart pattern formation and then execute our trades, stop loss never more than 30 pips of risk to your account.
trend to the downside, so we move with it to short the market.
"Bling Bling " = Gold, dated 28 December 2019Hi all,
Thanks for reading my post (in advance).
For the very very few that may interested, this is my take on gold currently.
You will see my gold chart posted below (daily chart).
Some key observations i note:
- Price appears to be going higher (i know what you are thinking,... it is pretty obvious)
- 61.8 fib price level approaching (approx 1,514). I understand and acknowledge many don't value Fibonacci and that is OK. Whether it is horse**it or not, i am noting it down OANDA:XAUUSD .
- October 2019 high resistance (approx 1,520).
- November 2019 high which also may be acting as resistance (possibly) @ 1,518 approx.
- Noted high momentum (RSI) as momentum within " overbought " levels - make of that what you will.
A clear break of 1,520/1,530 area on the daily would in my humble and average mind possibly trigger further upside. Of course, i could be wrong. Let's see if we break these noted key resistance levels.
In the interim, i will be watching the quicker time frames to see if any further clues arise.
Kind regards,
@bazzman78tv
