Last week the SP500 broke MS on the daily timeframe imo. This is my signal to look for shorts instead of longs.
As you can see price has returned to the daily/4h OB and is showing bearish signs on the LTFs.
Invalidation is clear.
1% risk
Very strong daily trend upwards imo. Clean highs at 1.3350 is like a magnet for price..
I'll be looking for a long entry between 1.3225-1.3235.
Why? (Confluences)
- Daily OB
- 705 fib
- 50EMA
Invalidation below last swing point.
I think there's a good chance that 1484 was the top here for gold.
Yesterday's high was swept with a violent rejection so I'll short the return to OB.
Invalidation above the high.
Dxy also took out some daily lows, which is bullish. DXY up, Gold down.
4h chart suggests upside momentum next week imo. Broke market structure + closed above the 50 EMA. It was unable to create a LL after the low at $1453.
Besides that, USDX (DXY) has swept a daily high with a violent rejection. This tells me that price wants to go reverse (short term)
If gold wants to keep it's bullish market structure on the 4h, gold must bounce here.
The grey box on my chart is a 1h orderblock which alligns with the .618 retracement fib.
Invalidation below last swing low.
We saw a decent sell-off last week but I still think we will see one last tap into our bearish weekly order block. If we get that touch, we can also see some sort of h&s form on the weekly chart. We're at the edge of a big sell off guys!
Entry would be between 2870 & 2890.
If we somehow close a weekly candle above our weekly block, I think we could see a higher...
Imo qkc is ready to make a decent rally in March
Techs:
- We've made a ''under & over'' pattern which is usually bullish.
- Falling wedge breakout with volume
Fundamentals:
- March 31st: Mainnet Launch
I dont want to see a daily close below range low
shawn
