Introduct ion:
Gold (XAU/USD) has recently exhibited a notable pattern on the H4 timeframe, signaling a potential trading opportunity. 📉 A double top formation has emerged, suggesting a shift in market sentiment and a possible trend reversal. This analysis will delve into the implications of this pattern and identify potential trading levels for short-selling...
H4 Analysis:
-> Swing: Bullish.
-> Internal Bearish.
-> Has reached EQ.
Price printed double bullish iBOS to confirm swing pullback phase is complete.
Currently internal structure remains bearish.
I have now started to map all CHoCh's to gain a micro-view of structure due to the nature of price action and the size of ranges.
Expectation remains as H4...
-> Swing: Bullish.
-> Internal Bearish.
-> Has reached EQ.
After the swing BOS price aggressively moved to the upside.
Price printed double bullish iBOS to confirm swing pullback phase is complete.
Currently internal structure remains bearish following second bearish iBOS. Price pulled back to premium 50% EQ.
Expectation is for price to continue to trade...
-> Swing: Bullish.
-> Internal Bearish.
-> Has reached EQ.
After the swing BOS price aggressively moved to the upside.
Price printed double bullish iBOS to confirm swing pullback phase is complete.
Currently internal structure is bearish. First aggressive structural indication that pullback is underway (CHoCH) where price is reacting at H4 supply zone....
price are coming down from 2088 level on h4 time frame
price is making lower low with lower high a clear down trend below yellow
if trend line breakout instant bullish from 2016 but until breakout it is bearish
I have a lot on this week outside of the markets. This is my thoughts on EU which follow on from last week's idea. I'll be looking for M15 zones to hook in and ride price action when time allows. I'll update below when I'm at the charts and see anything interesting so be sure to subscribe to this idea, below.
Weekly: From November 2022 to the present, the weekly chart of the euro against the U.S. dollar presents an "Uptrend Channel" , and the past five weeks have happened to be in a downward trend. The current price is looking for strong support. It is estimated that the integer around 1.08 is the key support from the graphical observation. Thinking from the weekly...
Spotted a possible gartley on the 4h looking to catch the C-D leg
Here are my measurements:
- X @ 172.326
- A @ 168.055
- B @ 170.695
- C @ 168.356
- D @ 171.412
I'm interested in trading the CD leg looking to TP @ 171.250
Comment/Critique welcome lmk what you think!
I expect the price to drop to around 1.3530 for now.
If the price breaks the resistance indicated on the chart, the uptrend should continue, but I expect the price to fail and fall.
We'll see what happens after the weekend.
Have a nice wekkend!
P.S.
This is not financial advise of course, just my idea.
There is a supply zone at 138.000 on the H4 timeframe and the price is going nicely up to the zone. What do u think? Will it fall from supply zone? My profit target for that short from supply is at 133.000
