Good morning all,
Gold is currently bouncing around the 1557, 1558 price mark. Hoping the analysis shown can predict a possible outbreak before a possible re-adjustment to the price once the breakout has began to slow down/finish. The Blue zones show the area of which a breakout would cross & the highlighted rectangle shows frequent consolidation around that...
eurusd came back into demand zone which was respected on the higher timeframes. Price came back and has created an inverse h&s which should indicate that buyers are going to come in control and raise price.
Strong support at bottom of range and parabolic breakout potential at top. Based on emergent view of BTC as moving into new phase of trajectory based price discovery indicating Short term BUY at 7730, SELL at 9700. Model invalidated by fall beyond 6620 or failure to make 10000 by November.
Did you just hand back over some money to the market after what you thought was a great entry? But why, that "support" looks fantastic? You might have thought;
Multiple touches in the past, strong zone.
Price created some nice bullish Price Action, it must be bouncing off the support.
We had a huge strong move up not too long ago.
This is accumulation within that...