2 SCENARIO FOR THIS 1ST WEEK OF APRIL 1. Bigger retracement to $1290 (61% retracement on daily chart) 2. Break of $1225 and topping at$1254-$1260 Range: $1210-1224
I did not take any long positions during last weeks NFP. For this week the same strategy applies. we will only long if market starts the rally after the first 15mins of FOMC/ECB/YELLEN SPEECH. Buy above 1225 during FOMC/ECB/YELLEN SPEECH. The market should range from monday to tues. range is $1210-1224
IF WE RALLY THIS FRIDAY FOR NFP, HERE IS THE PROJECTION FRIDAY tops is $1254 We should get a retracement lows next mon-tues to $1238, then continue rallying to $1280. This scenario is only possible if Gold Rallies on NFP anoucement. Just remember Gold can still rally on positive or neutral NFP figures! it is all based on market sentiment.
3 POSSIBLE SCENARIOS THIS NFP WEEK AND NEXT! my strategy will just be following the trend instead of predicting it! IF bear look at $1180-1190 for targets IF BULL i will look at 1280-1300 for targets.
gold bounced off exactly from the daily channel. which further supports the bullish trend. We should see a rally end of week to $1248-1250 region.
BEARISH WHITE SWAN = SHORT SPX500 target 1800 2000 is strong support too.
A new bearish H4 channel is forming. adv nfp or nfp might help push gold up to the region of $1240-1250 before dropping. I plan on trading this movement if gold happens to trade within this trend channel. This is a plausible channel. targets for long: $1240-1250 targets for short from the top is $1200-1190. ALTERNATIVE: IF gold stays within the larger daily...
We broke this daily bullish channel which means this bull is now invalid on my chart. Also last week a lot of bullish harmonic patterns and bullish Elliot wave count patterns have failed. The only thing we can trust now is price action. It is normal for a bull market golld rally to have 38-61% retracement before continue its bull run. so i see gold potentially...
Just got another harmonic pattern formed today on my MT4. It is a bullish butterfly. this is only valid if gold stays above $1204. Gold also needs to break $1220. Daily pivot is $1218. For targets i would look at $1240 for tp1. SL should be under $1204.
CYPHER BULLISH PATTERN LONG GOLD TP1: $1243 TP2: $1250 TP3:$1280 (IF WE BREAK PIVOT AT 1250)
Trading the daily channel support at $1230 and $1220 buy with stop loss of $3 under your entry and a target of $1280-$1300
BUY GOLD AT 61% RETRACE at $1242 SL1: $1240 SL2: $1237 TP1: 1290 TP2: $1300 TP3:1320 Good luck!
$1295 base on trend channel top then 61% retracement ($1260 estimate) then 1.618% extension to $1335 Area (not exact)
We're near the market tops I estimate it can be anywhere near $2030-2050. My previous esitmate was 2020-2030. 1. At key Resistance/ Wedges 2. RSI daily overbought 3. hidden bearish divergence with previous drop highs 4. hitting 200 & 300 daily MA Trading plan. I will wait for a 4hr candle close before 4HR 20EMA before committing to this short.
HIDDEN BULLISH DIVERGENCE ON H1 this signals bear strength is weakening and a possible low > trend reversal.
I'm still favouring a weekly bullish candle so I am still long till fri session. reason being is we havent reach the tops of my channel Here is my trading plan for the week. These are all good Risk-reward trades 1. Buy at various key retracement level 2. SL is $3 3. tp1 1275, tp2 1280 tp3 1290 (top of my channel) see chart I AM BUYING AT $1255, $1250, $1245 $3...
BULLISH BUTTERFLY LONG GOLD entry now. SL: 1219 TP: 1256 or higher. good luck