In our case we have trend line being hit and respected, historical support and resistance area respected thus far, 0.618 fib retracement on higher timeframe, and a 0.382 fib of recent bullish leg being our first entry. You can see the breakout from the consolidation channel within orange. Buying zones in strong light green. If we close below 1260 we will most...
With the approach to the upward support level, long positions can be opened with a target in the area of 1300. I do not like the price dynamics at the moment of breaking up the resistance level. A short stop can make a profit in case the upward movement does not develop in the area of 1300. But for such a scenario it will be necessary to track the situation inside the day.
So at the moment I'm long gold it broke the orange channel, to the upside. The purple channel was broken to the downside now to retest that purple channel. 1250-1260 I'm happy with 1250 personally. I will look to short around 125x
Simple structure and trend continuation setup. We have previously strong resistance to, hopefully, act as our support in this trend continuation trade. Together with the support, we also have a trendline which should add to the case. ..and we also see the double bottom at the previous resistance level. This pair has been respecting structure and trend thus...
A bat-pattern together with heavily oversold conditions signals me to go long on this pair, with target just below 38.2% fib of C-D leg Lets see if we fly
Price action is heading towards previous (historical) support level. Break of wedge to the upside gives me a signal to go long at retest. Targeting the historical support level.
Bullish gartley completed at D leg, buy order pending for a retest of bullish trendline (bottom of the bullish pennant) With the gartley completion we have; Oversold condition Structure(support) Bullish trendline (support) Marked my stop loss and target levels. Happy gold digging
With lousy and direction-less equity markets today - Europe rollercoaster, US hibernating - let's take a look at Gold. The precious metal yielded a near-perfect bullish hammer candle today. I usually like to see those at the end of a longer downtrend, but would never want to ignore a hammer, when I see one. My longer-term technical work suggests a fresh bull...
Gold XAUUSD 30min bullish divergence looks like a good chance for gold xauusd to bounce back to 1230, then 1250 levels Cheers, SinatraFX twitter.com