I had post an idea before last week. It was winning trade even though the gain was not hign as my expectation.
As i indicated within last post, Gold was oscillating in a pivot area (1160~1366) on 1W chart during past 4 years. It may continue a quite long time.
But on 1D chart, an uptrend momentum is still in progress, it now encounters a retracement and i...
4th CL pivot area was just completed. Because a trend line and a retracement is already in sight.
Now it's time to find 3rd buy piont on lower time frame (1H). I expect it will be around price 65.2.
But if the retracement drop below than 64.8 then i need wait for 2nd sell piont after all.
For reverse trend scenario, there is also a chance that price goes sideway....
It seems NYMEX Crude Oil may continue one more week of oscillations before it soar to a new high.
I expect it can firstly retrace below than 63 in 1~2 days then rebounds in the horn pattern.
But the pivot area (shown as Horn Pattern) is already mature, so it may breakthrough this week as well.
For scenario 1, i apply short term (like 15m) trend trade. but create...
It's my 1st time to have DXY analysis, I start from longer time frame to short time frame sequences.
1M chart:
For long run, DXY will approach and breakthrough 103.82 which was set Jan. 2017.
1W chart:
In middle term, DXY stuck in a pivot area 95~98 for past 10 months. It may continue 1~3 months oscillation before break through resistance 98.
1D...
It's my 1st time to have DXY analysis, I start from longer time frame to short time frame sequences. 1M chart:
For long run, DXY will approach and breakthrough 103.82 which was set Jan. 2017.
It's obvious gold is still oscillation in pivot area (1160~1366) on 1W and 1D chart. Currently on 1D chart it will be either retracement or down trend.
But no matter what it is, on 4H chart it clear down trend. That's why i choose 4H chart to trade at this time.
Price momentum just breakthrough pivot area support level on Tuesday. It may test the resistance 1281...
I was try to comments to an idea but failed, ()
So i post my comments here as an idea.
That's idea refers to long term (monthly chart), basically i agree that long run SPX500 may breakthrough last year high in future.
But i see short term technical divergence at candles under 1D time frame, so i expect there will be relatively big retracement before it...
