Tricky trade this one as the 4hr chart was a bit messy this morning after a sudden drop last night. The 1hr flow was bullish, and liquidity was raided on both sides on London open.
I took the long off the 5 minute area of interest and retest of the structure, following the 1hr fractal high raid.
11 pip stop loss, half of position taken at 2R as my rules state....
Maybe WARNING is a better title. Since February low I could only find three of these Williams Fractal set-ups. One was on the way up to near the first top of the double top, and the other two at both tops. You need to find two arrows pointing up followed by one down and then two pointing up again (as I've indicated with the finger signals). The first i.e. first...
Low reached of $10,200 looks promising as last trough (in red) on the MACD looks like a trough this time but MA may have needed to have been a bit more within reach. No Williams down arrow as yet. This is an update on my previous What to watch posting.
What to watch. If the market can hold above $10,320 and close above the MA with a downward Williams arrow that's potentially a good sign. If not then there's another leg down. I discovered this by doing some back studies using my MACD for best timing (I haven't checked for errors). Study the MACD on my chart and judge for youselves what happens where I've joined...
This is looking really good rally. Smash through $11,600 next. Looking to see at least two more Williams arrows either one down and one up, or two up like earlier rallies to get there or beyond. Back check it for yourselves.
Gold price is giving change trend signals on the hourly chart. The price has crossed the MA50 and indicator Alligator lines and formed a bearish fractal. Breakdown of this level would be an optimal sell level.
Using the Bill Williams system on this one, we still haven't got a signal so we are neutral here.
As you can see there is a highlighted area. This is the Support and resistance from the daily time frame.
It looks like we got a false breakout . of course price cam back into the neutral area.
What are we wait for?
Awesome Oscillator is near zero ( At...