After the false-breakout and sell-off of the 0.908 resistance, price can potentially test the resistance again then complete a head and shoulders formation on the 4h time frame and head back to the 0.888 level.
GN has shown steady bullish momentum with short and predictable corrections. Price will likely break above my demand zone with a possible target at 2.00000.
After last week's strong reversal from a bearish market on the daily chart, I suspect bulls to remain strong this week if price pushes above 106.400
The 4h time frame shows the price trying and failing to push through 0.96400 respectively to form a head & shoulders pattern. If price breaks below my support trend then I suspect a completing of the head & shoulders.
GC has broken above the 1.9000 zone respectively and has corrected back to the zone and is now rejecting bearish movement which could possibly show a continuation of the uptrend.
Decided to short GC after showing buying rejection at my 4h zone.
The price has closed a couple of hour candles above my recent resistance zone. If the current 4-hour candle closes above as well, I expect a rally up to 1.98000.
Last week's price respected my zones and continued to range making for easy long and short positions. If the price respected the current resistance I suspect the market to short back to the obvious support zone. These zones seem to be losing influence however and a possible break upwards toward 1.20400.
Since the reversal at 106, UJ rallied back up to 108 and did not accept the price followed by a break of that support trend line and a retest and break downwards. The price movement also shows a double top rejecting the buy.
ACad has been ranging from 0.93000-0.94000. It may break my support trend and reject 0.94000 again.
(Potentially a ranging market) UJ seems to be respecting that supply and demand zone. The price may rally to complete a "head and shoulders".
Backtested first to gather my support and resistance zones and trend lines. Looks to me like it's in a buying trend and has retested. Using MA21 and MA200, I'm predicting buyers to maintain control.
Price has been wicking out on my support line for hours. Setting my tp from backtesting with a risk a little higher than usual so I don't get taken out the trade.
The Bold Red Line is the Resistance line on the D1 chart. I let it retrace on that line a couple times before I hopped in a sell.
The price repeatedly bounces off my support line and finishes a bearish retracement triangle. Indicating an uptrend.
Don't let a couple of bearish candles psych you out your trades. Stick to your strategy !!
Corrected from my last lost in Gold. Goes to show never let a loss get the best of you !!
Watch for the breakouts in the price's upward and downward trends as it bounces in the greater support and resistance lines you see in the chart. This is one way I've been able to predict, with notable success, if the price is going to break those support and resistance lines or continue to stay in them.