Last week I marked this chart up for the buy, the lower swing closing out the week is indicative a sell coming up. I don't think this is a sell to enter a bearish market but I will be following this fib structure to see what happens.
This is the updated pattern for Gold, the ghost pattern is what I saw as of last night based on structure and technical analysis. Everything after the patterns is what actually occurred. I use ghost patterns within TV to help me remember what my analysis is, and to prevent anxiety. Gold is still a short down to about 2260 overall based on my analysis
Currently trading this position, I'm looking for a retest at the last swing to reflect the trend retest. The ghost pattern is what I can see coming up. Gold is in a bearish trend after the news this morning created a double top/reversal. My analysis is only down to 2300, then I will see if it pushes through or rejects at that level.
Trendline Break and possible retest followed by zone retest. I can see this continuing down to the next zone before retesting the trendline
This is my outlook for USDSEK this week. I am looking at a sell since there have been two break and retests for entry and I strongly feel that it will hit -.618% on the fib.
This is on a higher timeframe so it will take time for the positions to play out if this is accurate. There is always a chance that the market can continue in the opposite direction but in the current state, trading based off of what I see, there has been a clear break and retest on a major trend line. I always look for major support and once support is broken, I...
This is on a higher timeframe so it will take time for the positions to play out if this is accurate. There is always a chance that the market can continue in the opposite direction but in the current state, trading based off of what I see, there has been a clear break and retest on a major trend line. I always look for major support and once support is broken, I...