This is by far my most intricate and detailed analysis of Gold following a distribution that took place a few months ago, as shown.
We have hit our target area for gold as shown and stipulated.
Following the DXY's downward it has since settled and seems to be consolidating giving signals of a reversal with a H&S as well as distribution...
M1 : Ongoing bearish (yield) price action, currently below KS.
W1 : Ongoing breakout progress of the MBB important support level (1.5160)
D1 : Currently below the clouds and testing the bottom line support of the ongoing
H4 : Far below the clouds area and below all indicators, (KS, MBB and TS)
H1 : Failure to recover above the clouds (1.5320)...
Price formed a double top pattern
Price broke neckline to make a new lower low by breaking structure
Price then formed a Wave 12345 pattern with a breakout, followed by an LTF correction
Waiting for price to breakout from LTF correction for an entry
Gold is globally in a downtrend channel, the uptrend has reached the resistance level. Preconditions for a further fall: a false breakout of the technical pullback level of 1875.0, which almost coincides with the upper border of the downtrend, as well as a trend that is directed downward.
The right time to short $CAR?
Finally, the trendline has been violated after an Evening Star Pattern formed on the daily chart.
We can clearly see that this stock has been on a strong uptrend since the pandemic, and has almost doubled from the pre-pandemic high ($52.90). Meanwhile, AVIS BUDGET has not been fully operational, sold a big chunk of its fleet and...
We can see price is trading in a descending channel.
We have identified key short term structure levels in blue.
The yellow key level marked is a respected long term level.
USD has been weak across the board once again. Will we see a recovery and a bullish push for the reserve currency over the coming weeks?
Would love to know your thoughts on this XRP chart pattern... as you can see with the arrows, clear heads and shoulders i.e. reversal/bearish.
But then, there's the lovely pennant, usually associated with an upcoming uptrend/bull market.
Which do you believe? what else would you add?
Lower highs and lower lows --- broke under 200ema and retested as resistance, looks like we have room to go down further to the key areas pointed out.
TRADING IDEA --- NOT AN INVESTMENT OPPORTUNITY -- DO NOT TRADE THESE!
Hi, my name is Shooter_Forex .
DownTrend signal appears M (demand zone) + W1 (demand zone). Sell Limit
Note: If you want to sell at frame H4, you need a patience signal to appear. Good Luck !!!
I use the following methods:
1. Price Action
2. Supply Demand Zone
3. Risk management: Investment capital ( 4% / deal)
Previously I suggested the idea of a long for XAUUSD on H4. Didn't work out that well. I do believe this is a short on the daily with a nice pullback targeting previous lows. Bearish flag pattern formation on the weekly chart, favouring the upside, but on the daily we have a pullback in a clear downtrend.
Lower highs/lower lows.
Long term Gold is very much...
Price action suggests that this currency is heading for a BIG move to the down side.
S/L 130.000 T/P 126.000 Area.
Utilising multiple positions and/or trailing the stop loss from here could see huge profits.