Right side of the chart:
See how it broke the last time?
There was a retesting at the L-MLH (white) going on. Then in the middle it pierced the upsloping orange, dotted Pressure-Line.
Now, compare it to the actual situation...
One of my coaches in the earlier days always told me: "Before you cut meat, you must sharpen your knife".
In Trading the Grindstone is...
Look what happend to silver price durring the Crash in sept 2008 and what happened after. So if economy crashes again what do u think will happen?
Govt tools are not exahusted. Never underestimate the powers of govt. Those who rule make the rules
the Good Using Of Price Channel is Most Important to define a Target and reversal Zone
So To Calculate a Distance Between the last rebound and using the same distance to define next Rebound and we can make it easy when we mix it with Rand S Level
You can Inbox me for More Info about this strategy or Others
Details are in the chart.
After an impulsive phase, gold has been consolidating within a triangle pattern in the last 2-3 months. A break out could be possible in the near term.
For more info about triangle pattern and Elliott wave, check out this link
www.elliottwave.net
Stay tuned !
How to trade the ABCD pattern
This is an example of a bullish ABCD pattern.
Ideally, Point C should be Fibonacci retracement between 61.8% to 78.6% of the A-B leg.
Point D should be a Fibonacci extension between 127% to 161.8% of the B-C leg.
Stop loss should be below D or previous low.
Take profit can be at the 38.2% and 61.8% Fibonacci retracement of the C-D leg.
Tip of the day #1:
“It's not whether you're right or wrong, but how much money you make when you're right and how much you lose when you're wrong.”
George Soros
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When we look at the chart.
We expect a strong rally or fall because of the price action.
Price in the same areas so bollinger bands are squeezing.
But !!!
Look at the chart 17 YEARS LONGGGGGGG Same price action. No move. God.
Life time and price is same..
So Stay away from forex and other leveraged and date expiry stuff.
IF you wanna buy something. Buy it....
Crude oil has completed a complex correction labeled as wave II or B at the 42.03 level from where we started to track a new bullish impulse. An impulse is a five wave pattern, so there is room for much more gains on energy market since we see current leg up as blue wave 3 of an impulse. Wave 3) has in general five clear waves, which means oil price can still...
For more details and background please read my article on Long Term Analysis of Oil published recently at www.talkmarkets.com
OPEC meeting is schedule on Thursday the 30th November 2017. It is widely anticipated that OPEC members and other cooperating oil producing nations will agree an extension of the production cut beyond March 2018. It remains to be seen if...
Gold: XAUUSD 1.25% How DXY -0.25% is the gold 1.24% trader's best friend right now
So far gold 1.24% has behaved in the bear-mangling mode expected of it since the dollar broke
down below key support on DXY -0.25% at 94.26 (right hand chart) but it wasn't too smart to let
it go again at 1290. That rally on Friday was vicious for bears - the shape of price...
On the weekly gold chart I am expecting a rest of the broken trendline as it confluences with a support level.
We may pull back through it so be carefull if you any any trades here but following that a restest of the recent wave high is my first target.
Learn with the Lex van Dam Trading Academy on TradingView! www.tradingview.com
Featured in our Trading Club, 4th July
Our checklist provides a systematic process that fellow hedge fund managers and traders employ to analyse markets, from which the biggest trading decisions are made. We use similar versions to analyse major currencies, stock markets and...
This pattern has brought me great success scalping crude oil.
How to trade it:
Look for an ABCD triangle formation with lower highs and higher lows.
Draw the triangle with extended lines.
Measure the baseline at B and divide it by 2
Add this value to the point of breakout to get a nice padded target to either side
Look out for fakeouts and good luck.
...
Took me quite some time to build this up but the result shows a very clean sceanrio here ! Everything tends to correspond between each different timeframe and so the forecast is even more likely to occur.
It shows that on the biggest timeframe, gold has made it's 5 wave impulse and is now retracing in 2 impulses . The first have been completed and we clearly...
As you can see "Magical" SR levels work every time. Support/Resistance (SR) Levels and Zones are very important for all traders. Basically, you can expect that on specific levels price will stop remain for some time or bounce off. This help up define Risk to Reward Ratio. I know few methods how to mark SR. But I have found that this method is the best to define SR...
If you are a trend following trader, find instruments and timeframes that satisfy your trending criteria and just follow the signals. But remember:
consolidation period can be brutal to a trend following strategy. Also, the longer the trend, the greater the chance for a reversal.
With that in mind, make sure you apply proper money management.
