professionalgoldtrader

professionalgoldtrader Updated 

will reach or retrace to the bearish trade zone around 2812-2824 before making a move

professionalgoldtrader Updated 

what I’m seeing here is a clear bullish breakout setup. Let me explain what’s happening: Wave Patterns: As you can see, the price initially dropped significantly from a higher level, but it’s now showing signs of recovery. This movement has formed a triangular consolidation pattern, which is highlighted by the yellow trendlines. Trendlines (Yellow Lines): These...

professionalgoldtrader Updated 

Harmonic Analysis: The GBP/USD chart shows a potential "AB=CD" or "Gartley Pattern" structure. There are clear harmonic movements forming an upward trend. The green line pointing upward indicates the completion of the D point, where we might expect GBP/USD to rise further after the "CD" leg completes. Opportunities and Risks: Opportunity: If GBP/USD bounces off...

professionalgoldtrader Updated 

Looking at this chart, the DXY is moving within an ascending channel defined by the two white trendlines. Based on my analysis, there are a few key levels to watch, especially the Fibonacci retracement levels. First, if the price starts to drop from the upper boundary of the channel, it is likely to retrace down to the 0.61 Fibonacci level. This is an important...

professionalgoldtrader Updated 

This chart shows that XAU/USD is currently moving within an ascending channel, with clear support at the lower trendline and resistance at the upper trendline. The market is currently resting near $2700, testing the upper trendline and the key resistance level around $2726.67. Key Levels Analysis: 1. Resistance at $2726.67: If this level is broken, the market...

professionalgoldtrader Updated 

In this chart, I am analyzing the XAU/USD market, and I expect a brief bearish correction before the market resumes a strong bullish trend. Let me break it down: 1. Retracement (Pause): I anticipate the market will retrace downwards to the Fibonacci 0.61 level, which is around $2,630.79. This is a key level where markets often find support. 2. Bearish...

professionalgoldtrader Updated 

1. Key Level at 0.78 Fibonacci Retracement The blue marker at the bottom (190.650) represents a significant level where the market may find strong support. This level corresponds to the 0.78 Fibonacci retracement, which is often considered a potential reversal point during a downtrend. 2. Comparison of Moving Averages (MAs): The red moving average is currently...

professionalgoldtrader Updated 

The pattern I am analyzing is the Deep Crab Pattern, which is one of the key harmonic patterns used in technical market analysis. I’ll break it down step by step according to the Fibonacci levels and market direction: X to A: This represents a strong upward move that sets the foundation of the pattern. It is the initial leg of the movement. A to B: Here, we see...

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1. Basic Structure of the Chart: This is a 4-hour (4H) chart showing the price movements of GBP/JPY. There are two Exponential Moving Averages (EMA) on the chart: The blue line (EMA 50). The yellow line (EMA 200). These EMAs are used to identify the trend direction and momentum of the price. 2. Gartley Pattern (Harmonic Patterns): The chart features a Gartley...

professionalgoldtrader

1. Key Support at the Blue Line (1.20332): The blue line is a critical support level. If the market breaks below this level, it signals a continuation of the bearish trend. I expect the price to drop further until it reaches the white trendline below. 2.Bearish Continuation to the White Trendline: If the blue line is broken, the price will likely continue its...

professionalgoldtrader Updated 

the market to drop (bearish). Here's an explanation of the chart from my perspective: Market Movement: The price has risen sharply, but it is now sitting at a resistance level (a strong point that the price might struggle to break). It’s likely that this upward movement is temporary. Moving Averages: The yellow line (long-term moving average) shows the general...

professionalgoldtrader Updated 

Harmonic Analysis: The GBP/AUD chart suggests the possibility of a "Bat Pattern" or "Crab Pattern," with the D point approaching. The market is currently near the lower trendline of the ascending channel, which could act as a critical "reversal" zone. Opportunities and Risks: Opportunity: If the D point (support at 1.9940) holds, GBP/AUD could rebound and move...

professionalgoldtrader Updated 

Current Market: Bearish (Downtrend) The market is currently moving downward from Point C towards Point D, indicating a bearish trend because: Price movement is consistently heading lower. A bearish market reflects that sellers are stronger than buyers at this stage. Point D is located at a critical level, the 127% Fibonacci extension of BC, which is where a...

professionalgoldtrader

Analysis: AB = 78.6% Retracement: This indicates that the AB leg was a deep retracement, forming the basis for the harmonic pattern. A deep retracement like 78.6% usually means the likelihood of a significant reversal increases when the D point is reached. BC = 123.6% Extension: The BC leg is extended, meaning the BC movement is wide. This could indicate that...

professionalgoldtrader

appears to be forming a harmonic pattern. Based on AB = 50% and BC = 161.8%, we expect the DXY to reach the D Point, where a significant reversal or continuation of the trend could occur. AB Leg: The DXY retraced 50% Fibonacci retracement, confirming a solid start to the harmonic structure. BC Leg: The second move (BC) extended to 161.8% Fibonacci extension, which...

professionalgoldtrader

Harmonic Analysis: The GBP/JPY chart clearly shows a "Shark Pattern," with the D point nearing completion at the 197.1 to 197.5 zone. This Shark pattern suggests that if the D point is reached, the market might face a downward move or reversal. Opportunities and Risks: Opportunity: If GBP/JPY reaches 197.1-197.5 (the D point), a reversal to the downside could...

professionalgoldtrader

Looking at this chart, I can clearly see a harmonic pattern forming with the key points X, A, B, C, and D. This is a structured pattern that helps identify potential reversal zones in the market based on Fibonacci levels. What I Observe in the Chart: Pattern Formation: The price movement has formed a harmonic structure starting from X down to A, retracing back...

professionalgoldtrader

According to the XAU/USD (Gold Spot) chart I analyzed, I can see sequential patterns and structures that help in market analysis. There are several important elements visible that can indicate the market's direction: Harmonic Patterns: The chart shows harmonic patterns like Gartley or Bat, labeled as XABCD. These patterns often indicate areas where the market may...