My last gold drawing broke the weekly trendline prompting me to create a new chart but ultimately gold is still looking to retest the 2000 mark after it gets through a few key levels. I also took a look at the weekly gold Chart and notice a perfect pendant breakout for a possible rally to 2000 next week.
This is the Daily Chart for USDMXN and on this chart we can start by seeing an obvious downtrend for the 1W and having a recent bounce off the trendline and a recognized S/R Zone. Now the 1H and 4H are both showing a more aggressive downtrend towards the Supply Zone and if it breaks through the supply zone we could see a drastic down jump possiblity, there are 5...
I am only charting up this weekly DXY to test and prove correlation between it and all the XXXUSD Pairs that I will try to be trading for the week. It looks like it broke the 50SMA on the Monthly and Weekly pretty clearly with a definite break in the monthly uptrend. With a broken monthly trend and strong downward trend on the weekly, I expect that all XXXUSD...
So I drew up this weeks Gold chart and it looks like itll be a good time for me to enter my first long trade, I will try to stay with this trade from sunday thru friday if it seems to go in the direction i want it to go, the Stocastic Oscillator is showing a good indication of being oversold, coupling with the fact that it broke my flag wedge on the 1H and 4H...
Here we have my first real charting of anything and Im really publishing it to get corrective feedback or see if Im on the right track. So the prediction is that with a obvious downtrend happening with a flag pole pattern coming to light, I traced a Fib on the most recent swing low and high and came up with this golden test zone that seems to follow the flagpole...
