ChartFood

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SPX500USD

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XAUUSD

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The resistance trend line all the way back from June might be the most important to watch. May need to trade on retest not the break. Lots of tricks can be played here.

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After seeing how gold reacted to the bottom of the pennant, a limit buy order off the break out of pennant would indicate a time to take a long.

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We seem to be stuck in a pennant but to me looks bear flaggy also. Anyway, here's the broad concept of the way I see the chart patterns playing out. I'm aware many traders aren't seeing it this way, and I am grateful for that.

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Short, then long for more gains.

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USDJPY

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As you guys know I've been an advocate for the Bull tribe for a while now and nothing has changed. All time highs are coming.

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I've been expecting gold to rally up out of the channel, and that could still happen, but bears should know where to target if still holding or expecting to enter. A drop from current 236 fib level would be a significant victory for bear in my opinion. The 236 is typically the decision maker in fib. 1433 is my hopeful target mainly because I'm still very bullish...

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All intraday oscillators have turned bull and bears should be careful shorting come Monday.

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SPX S&P SPX500USD

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SPX SPX500USD

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Pending a breakout of the presented wedge you may be able to correctly time when to bet against gold once more.. I wouldn't be too confident that this pennant wouldn't collapse out the bottom which is why i recommend waiting for the fall wedge to break out a bit, but anywhere by the value box I've drawn could earn you some easy trades. Goodluck

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I really hope Gold breaks down but I can't ignore TA and seeing a potential retest of previous resistance levels. Could this be the early signs of another rally upward or a fake out? I'm just spotting out a likely push upward coming based of what the chart is showing.

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USDJPY may be the chart to watch going forward

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Intraday trades for you guys. (still long term shorting this structure).

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Just doing my part to shows possible patterns to you all. Good luck trading. Possible extension to top of wedge likely into a collapse. Fib patten mapped out to fall into 272-618 extensions after 618-786 cap out.

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I'm staying short in my positions and watching to see if Bulls push up past the resistance. A extension would put us back in the mix. I placed the stop just a bit higher that the extension zone. I'll keep my short and see if this is a trap for Bulls long term. A correction was bound to happen after such a sudden drop.