Will the market dynamics and fundamentals take us to the $2,070 Mark? uptrend channel at 4H TF "not a financial advisor"
Pitchfork indicator is your best friend!!! "not a financial advisor"
While the Downtrend FIBO is not valid any more; an uptrend FIBO is forming along with ABCD pattern. This was due to yesterday's news (Fundamental). Back to the chart; On 4H timeframe; we may set new targets at 1880. Stay Tuned. "not a financial advisor"
It is Pitchfork indicator at 4H timeframe. Using the indicator to identify positions entry (SHORT/LONG) is paying off. Mainly in an uptrend direction. "not a financial advisor"
At this time of uncertainty; it's been a while GOLD is moving sideways in higher timeframe. I am taking advantage of this behavior in making quick wins. LONG/SHORT both closed at profit.. hit rate was about 85%. Thanks to the newel integrated indicator Pitchfork.. although it work the best with Stocks and ETFs.. you may apply it on higher timeframes.. worked fine...
GOLD is testing the last FIBO resistance level.. Looks like it is breaking it respecting the uptrend channel for sometime now. Level to watch: At 1830.00.. Breaking the historic resentence is opening a clear path to target the area of 1850-1855.. While waiting to reach that level to go SHORT; I will be going LONG all the way.. working so far ;-) "not a...
Now the GOLD is testing FIBO 50% while in an uptrend channel on the 4H timeframe. I am going LONG in shorter timeframes (15-30 min).. working so far. "not a financial advisor"
FIBO's 38% is holding as solid resistance; AND the uptrend channel is slightly cracking (with its' 50% forming some kind of resistance) our original pattern (ABCD) is still forming yet will take a bit longer. "not a financial advisor"
While FIBO is holding; an uptrend channel is forming (4H TF). 50% FIBO is the next level of resistance. This will lead to a new target. Major news in 30 min. Let's wait for the Fundamentals. Market Action Discounts everything - J.J. MURPHY "not a financial advisor"
FIBO is always right.. 4 hours timeframe.. "not a financial advisor"