How did Gold move 157 pips UP in 6 hours?
The yellow box is an exhaustion area. It can be seen previously on September 1'st.
The shape that is made here I've seen move up a lot.
The yellow line at the bottom is what I'm looking for to enter. I want to see a push above that in order to enter a buy.
At the bottom, we can see a long lower wick showing the...
Is Gold back Bullish?
Gold has created a double bottom at this significant level of support.
Moreover, the final candle that we see is a Bullish Engulfing. I think we could begin to see some upward movement again.
Additionally, there is a trend line created. I think that price has potential to move up and touch the trend line again.
A touch of the trend line...
I find Gold to be doing this recently.
The 53 pip hammer is a sign that price will continue in that direction.
Gold is sending out these reaching candles-a candle with a long wick that tests the area. The next candle begins closing in that direction.
Price eventually moves bearish more strongly.
Price often movs back between these two white lines. These are both significant S&R.
Starting at the green slash: Bullish engulfing which closes higher than previous candles. This is followed by four more bullish candles.
Finally, close to a resistance, price makes a doji. I expect that this is where many were taking profits.
The very next candle is another...
Gold has travelled back down!
Start at the purple line. A descending triangle was made. At the first arrow, there is a breakout to the upside. The descending trendline was broken and price moved up just over 100 pips. Gold was looking like it could continue to rally up.
Until the Shooting Star and Bearish Engulfing Candles appeared-Orange circle.
Price...
A range was created between the two horizontal orange lines. There was an upthrust beginning at the blue flag. Price tried to go up after a retouch, but failed to have volume support and came back down.
You can see a Dark Cloud Cover followed by a Bearish engulfing which pushes back into the range.
Price consolidates in the bottom half of the range for a while....
There was a great opportunity to trade a double bottom during the London Session.
A double bottom formed on the 30 minute chart.
Price had originally moved up the the previous day's high (upper white line), but was rejected multiple times until if fell back to the 38.2% level Fibb.
Following this drop, price moved up a bit and tried to hit the daily level...
Here is a quick analysis of what happened to Gold after Friday's NFP. Asian and London Session.
NFP caused this large drop in the price of Gold on Friday. The close of the second candle after the drop becomes an important price point called A.
Price falls again and consolidates in a range at this 1775 level.
The first proper breakout happens with a large...
Why did Gold rise instead of fall?
Let's look at the 1 hr candlesticks to understand as well as the Fibb.
The 5 candlesticks within the yellow oval form a Rising Three Methods. This is a Bullish setup. It constists of a larger bullish candle, 3 bearish bodies which fall but fit within the first bullish candle, and end with a bullish engulfing candle.
The second...
Quick analysis starting from the extremely large bullish engulfing at 03:00. 11 Candles
Price reached new highs with a lot of volume. This high volume with new highs makes me think that Price would like to continue up.
Let's look at the next candles though.
Candle 2 is a shooting star followed by a spinning top. These two candles can be a sign of a reversal....
This is a technical analysis using candlestick analysis primarily with Support and Resistance. The Fib Extension is also used to understand where price eventually goes to.
Look for the numbers on the chart to see analysis.
1
uptrend to touch the trendline at the top.
Green spinning top candle followed by a hanging man. next red opens and closes lower: shaved head.
bullish engulfing-failed to make a new high.
kind of tweezer top followed by a doji.
2
spinning top at the lowest price.
higher spinning top followed by a bullish...
Part 2
Gold was trading in a channel!
i only just saw this. The drop in Gold of 500 pips last week was from three things:
1. Triple Top/Head and shoulders
2. Break of trend line
3. To touch the bottom of the channel.
Gold has been in a channel trending up since the massive double bottom from May. The trend and channel are still valid because Gold was able to...
