I am shorting this pair since it broke the trendline + its entering the supply area with divergence on 4H TF + forming ascending wedge.
I am going long on this pair as it almost break the weekly trendline and forming head&shoulders pattern with double botton on weekly chart as well... note that its long term view and its on weekly so he move need a year at least to show some good profit.
I think gold will make an AB=CD pattern which will be starting from this level or above a bit heading to levels identified + comments on top.
I don’t care if Johnson win or not this will TP indeed , let the market dance as the want still you will hit this target :)
with this Analysis I assume that no more BTC downside if it break the TL and the 200 EMA might bounce from Supply area to correct to (50,61.8) fibo + retesting the TL and move up again to god knows which price LOL
it will be really powerful when Harmonic , Demand area and Wolfe wave match on same are ... as we can see here formed Shark pattern + Demand area on 4H and Wolfe wave .. price just touched 161.8 ext of Wolfe wave and fly ... its give very good RR ratio ... for me I think passing the 1250 and close daily above Gold it heading north and will update this when price...
GOLD bounced nicely from the strong demand area and its looking for 200 DMA and for the strong supply area created 1298-1308 as target , matching with USD index Analysis posted earlier.
After a clear Divergence and nice price action with week, month, quarter and half year closing. we see that index will go down first and then continue moving up matching with EURUSD weekly Anlysis for head and shoulder formation.
reached 161 fibo ext and first order is filled waiting for first target .. this is based on Wolfe wave + Divergence
Wolfe wave formed + divergence good to buy with price action
this area match with demand area 4H and inside daily + Divergence + harmonic pattern on daily that's why I put SL to next fibo ext level
wolfe wave +divergence + Demand zone on 4H inside daily zones both fresh targets are clear ;)
I believe the pair out of the box and its heading to the Supply area which is match with box target as well ... Supported with GBP Index Analysis and USDCHF Trend Analysis.
the Chart is telling everything ... it formed head and shoulders beside its on the way to make double bottom in weekly chart targeting almost 2.00 :D
depending on Diamond structure and wedge pattern expect the pair will go down to 148 area and then price action will decide will it continue down or move up to 155 till 159 area
the pair corrected to 61 fibo on 4H and made Wedge supported with divergence and H&Ss on 1H TF and its projected to form AB=CD pattern RR is very good in this :)
Supported with 61 fibo of the bullish wave and TL which forming wedge ... the target is 50 - 61 fibo of the last bearish wave ... Fundamentally supported with GBP strong data