Potential setup. We are in a distribution area according to Wyckoffs theory.
Here we can wait for price to go to the level indicated. There should be stops there. In my opinion placing a stop loss and to trade for longs is too risky for now. Rather we wait for price to to the indicated level and decide to trade the breakout or the potential reversal. The candle stick formations and strength of the dollar would help determine which is the...
If both the neckline of the head and shoulders and support is broken then we can look for price to be attracted to the level indicated.
I favor the short side. With peace talks completed between america and north Korea, gold may be "dumped"
As per the previous setup given earlier. This analysis now includes the stop loss and take profits.
If price can get into the area we could look at long setups. I still favor the upward trend.
I expect price to trade within the current consolidation range.
equal measured move from the previous structures in the channel. We are creating Higher Lows. Disclaimer. Trade at your own risk. All ideas shown in the past and future are for demo accounts only.
I expect price to be attracted to the level indicated. We could see some relief and then more upward movement.
Potential channel for price to trade within. We would expect there to be repetitiveness with the price structures.
I am once again looking for repetitiveness. We found support at a previous years low. Then price found resistance at last years high. I expect price to reach last years resistance level or atleast indicated by the arrow.
In the red box area we find a optimal trade entry. If price can get into that level we can look for long entries.
I still favor the uptrend. Optimal trade entry in the boxed area.
I am looking to follow the trend in this case. Or ultimately trade the breakout.
I expect higher prices. There is a bullish pennant/ flag pole present.
Potential Repetitive structure. We are in consolidation for the long term.