Details are in video. This is likely to play out as some sort of correction pattern which we will wait to see. But this is definitely a good area to take short.
Trade Type: Trend Following Overall Trend: 4H: Down Daily: Up Signal: 1H: Waiting for Confirmation Definition of Confirmation: Bearish Candle in between dotted lines. Disclosure: This is NOT meant to be a trading advise but trading education.
Trade Type: Trend Following Overall Trend: 4H: Up Daily: Sideways Disclosure: This is NOT meant to be a trading advise but trading education.
Trade Type: Trend Following Overall Trend: 4H: Up Daily: Sideways Signal: 1H: Bullish *Aggressive Entry 4H: Waiting for Confirmation *Conservative Entry Definition of Confirmation: Close above 1.13930 on 4 Hour Candle. Disclosure: This is NOT meant to be a trading advise but trading education.
No real buyers here. Next level to watch are 1.12 and then 1.08 Refer to 4H - Supply Zone
Bat didn't work out very well, didn't it? Now we have big big big red candle ripping through previous supply level. Well, is it the end for Gold? I don't think so. We can see clear wave structure forming from the very bottom and it seems as though we are in potential wave IV. Hence, here's our trading plan! We will wait patiently for 1287-1293 area....
Trade Type: Long Trend: D Strong Buy, H4 No Trend Confirmed Pattern: Inverse Hammer, Bullish Bat Structure: Horizontal Support Comments: Strong uptrend overall, worth a buy
1. Wave confluence 2. Trend Structural Break Down 3. Upper Edge of Value Zone
AB 61.8 AB 88.6 AB 127.2 Note that this is my personal TP areas
Gold H4 Showing Lightening Pattern Once it breaks B point price could further drop to next support level.
Trend line structure formed at the inception of previous uptrend has extended to this level. The price has broken out of this important range and there could be possible sell incoming along with short pressure on usoil. We shall see!
Oil Short incoming. As predicted last week, there was not a good short opportunity towards the end of the week. Now we have noticed some weakness, showing bearish inside bar on 4 hour chart. It's a sign oil might have hard time making another upward move. Showing rising wedge lately and possibly with one more small leg up then it could be big sell...
After having confirmed its ceiling at 4300 ish, Bitcoin has dropped quite a bit. This means bitcoin is yet to move out of it's structural boundary. That said, we are looking at structural level with strong confluence and that could be only found outer edge of value zone. Therefore we are expecting 0.618-786 bounce once volume is confirmed.
Gold has reached the area of confluence like I have mentioned before. There needs to be a test of structure before we see another driving power for Gold. Also per wave count, we are at least very close to terminal of 4th impulsive wave. Good Luck!