McCarteen

McCarteen

Price on long term view looks bullish and unfolding as an impulse. Looking at a complete wave 1 to 3 and the current consolidation taken as a wave 4 correction. At the moment price has been trading at a typical 38.2% fibonacci level for a wave 4 retracement which can be reliable level to give us direction of what gold might do next. Price might drop below to try...

McCarteen

From my last update price hit my invalidation point and forced me to review my approach. Alternatively price looks to be in a corrective move to the downside, and as it looks, last week price might have been completing a wave B of an A-B-C correction and wave C is yet to unfold. A very good one to look at ahead of this week/ A happy trading to you all. God Bless You.

McCarteen

Price still unfolding well no invalidation level broken. As for now I am expecting the wave 3 advance to at least try and reach the 1.618% fibonacci extension level. A happy trading to you all. God Bless You.

McCarteen

I am still considering this short option as long as price has not invalidated my analysis, and staying cautious on any bullish signal. A happy trading to you all. God Bless You.

McCarteen

Assuming price found resistance at the top labelled Minor wave 5, we can assume that the current unfolding pattern is a correction pattern. With Wave A have unfolded as a motive wave then the whole correction can be assumed to be a zig zag correction pattern. If so then we can expect a 5 wave move of wave C. A Happy trading to you all. God Bless You.

McCarteen

From the last analysis Nasdaq has broken my invalidation level which forced me to recalculate my waves. By the looks of it, it seems like the recent high has completed a wave 3 move and the move down we are looking at a minor wave 4 flat correction pattern. It can be assumed that wave 4 might find a level of support at the 38.2% level without ignoring the 50%...

McCarteen

I am still assuming that a wave 5 is in progress with the interior count of wave 1(leading diagonal) and 2 assuming to be complete. Now assuming that wave 3 is still unfolding with the interior wave 4 currently unfolding, taking a shape of a flag technical pattern. Using the fibonacci retracement tool I can see price is currently testing the 38.2% level of...

McCarteen

Price broke below my minor invalidation level, although I am still seeing price as bullish. I will be attentive to price when it reaches the 38.2% fibonacci level, which is a common retracement for a wave 4 pullback. Below the invalidation level I will switch my trend idea to selling idea. A happy trading to you all. God Bless You.

McCarteen

From yesterday's analysis price retraced and rejected at our assumed level of support, on to find that the retracement of that wave 4 seem to have found support at the 50% fibonacci level, From this position we can expect price to grow and later get a chance to update our invalidation level.

McCarteen

Here I display what I saw as a potential motive(impulse) wave with wave wave 2 respecting the start level of wave 1 and wave 3 targeting the 1.618% level where price found resistance. Then we saw the wave retracement which I assume might have found support around the 50% fibonacci level, and now I am expecting price to grow and at least to clear the recent...

McCarteen

Price is advancing well to updated my weekend analysis, this is the plan for today hoping to see some pull back and offering more chances of entry. A happy trading to you all. God Bless You.

McCarteen

From the past week I had to update my analysis since the wave 2 retracement does not retrace more than a hundred percent of the start of wave 1. So I will assume that the current advance up will be my wave then a wave to follow, and still it must not retrace below the start of wave 1. I wish you all a happy trading week ahead. God Bless You.

McCarteen

Price might have found a reliable level where it is at now. Looking at the advance I labelled it as a motive(impulse), with the volume shown by price it seemed a case. The advance of minor wave 3 has found support at around the 1.618% level of fib extension, leaving me to assume that the decline in price might be a fourth wave correction. And now price...

McCarteen

From the top labeled (A) price has been correcting within contracting trendline channels which leave me to assume this pattern as a triangle pattern. Alternatively price might be forming a complex correction but restrictions are set for the validation of this analysis. A happy trading to you all. God Bless You.

McCarteen

Looking at the price swings of the final leg of the correction I am expecting a motive wave. But since the swings building up this final wave are overlapping, then I decide to label it as a falling wedge or an ending diagonal pattern. They are often followed by a strong reverse in price so be onlook. A happy trading to you all. God Bless You.

McCarteen

The big bullish push in price might be something to have a look on. Just after price has finished forming an ending diagonal pattern(falling wedge), price rose significantly as expected, since diagonal patterns are followed by a big move opposing their trading direction. Now price is at a significant low and I will be onlook for a reversal pattern which will help...

McCarteen

It looks as if price have found resistance around the area where Minuete Wave 1 equals 5, which is the completion of the cycle of impulse Minor wave 1. From here we can expect a correction rally of Minor Wave 2 which is usually deep and can travel as far as 78.6% of Minor Wave one. I wish you all a happy trading. God Bless You.

McCarteen

I am still bullish on Dollar Cad applying patience as price unfolds, and looking to take this one on a fair opportunity.