in a channel, may be 3rd wave in daily, moving average holding, and a cypher pattern 1H. a good opportunity to go long.
downward continuation after last down on daily chart, retracement done. expected region is 1.27 fib extension area on daily.
price action very interesting. seeing some king of good setup.
Monitor the price action is sea water box. we are near to the key level that must be retested. dxy is strong and strong possibility to retest the broken high level of 9 march 2020 which is now turn into support.
DXY is seems bullish, I am seeing big wedge formation,breakout above will provide us buying opportunity on the retest of wedge upper border.
i don't know it is correct or not. but tried to draw to kill my time. ))))) still learning.
1H trend line broken after H&S and touched the main horizontal resistance and that is weekly pivot too. Now making 1H bullish flag, 0.5% ret. might be seen and then move up to the area 1.161% that is there 4H trend line as well as weekly resistance. that weekly resistance area will decide further move of the gold. ECB ahead, may be we will see strong response.
I am seeing a strong supply zone ahead and a very strong pattern H&S on daily and 4H chart. so will see price action in supply zone for short positions. over all strong bullish bias and shortening is not recommended, it will be a retracement till the last demand zone which is 61.8% of last upward movement and a strong horizontal line breakout.
I am looking bullish bias, 4 hour trend line broken, retest of broken trend line most likely, seeing buying opportunity in 1950 and 1940 region for strong upward 2k. support and resistance drawn. weekly candle showing still downward movement. so hope it will touch my supply zones and turn back to 1920 region that was previous all time high and my demand zone in...
Seeing many interesting structures, bear flag, H&S pointing out 1875 and 1820 area, bearish engulfing candles on daily and 4 hours TF. But for last 4 days, fact is unable to break support multi years high 1920. Until now,1930 to 1920 showing major demand zone. I am seeing HH again on small time frame after retest the demand zone. Flirting with MA50 on 4H TF, hope...
Looking for long opportunity. once get confirmation. in order to break 1879, bearish till 1765.
I think there is little upside left and then seeing short opportunity with tight stop loss.