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.
4 hour chart: trend, cycle, and momentum are all up. 1 hour chart CCI is above +100 and the trend is up 15 min chart: trend is up and support is at the 50 SMA this is also the 50 SMA on the 1 hour chart 1 hour demand zone RBR formation $200 risk with 5 contracts
4 hour chart is entering the 7th wave 1 hour chart is entering the 11th wave 15 min chart is inside of the 4 hour supply zone (market edge. We might get a double top or a retest of this area and a deep pullback to 2152.8. At this point the 1 hour trend will recalculate. However if price follows the 4 hour pullback then we could see a drop all the way to 2095.
Silver popped up on our TrendCloud Scanning System and started showing us a short signal. TrendCloud signals started forming and are still working out nicely. Trend and momentum are both down across multiple timeframes and heading toward the first ADR checkpoint. If you would like to become consistently profitable so you can move out of the simulator and into...