Price retraced back and made a nice pull back then is formed yesterday a Doji candle so I thing it's a sign for ending of this retracement and starting of another trend wave.
After a upward weekly impulse, XAU/EUR is correcting on daily. On hourly chart we can see an impulse upward as a fractal of the daily correction (correction of the correction). There are some fibonacci retracement levels on what could be the daily resistance. Any price action on this level would tell us the direction on medium term.
InsideMarket has already...
we see here how gold has hit the butterfly pattern PRZ and reacted nicely. we have a cypher coming up
entry- 1082.25
sl- 108.17
tp1- 1085.18
tp2- 1086.99
another setup i put along was a shorting opportunity into the cypher PRZ. we broke out of the bullish channel formed and had a strong bearish engulfing retest, so price action is deffinetly giving us the OK...
Here are the key points for XAUEUR:
- Trend. I find the trend clearly up; the breakout from the long-term bearish Schiff Pitchfork seems to confirm it. Price seems to have switched from the down sloping fork to the up sloping one. The deviation from the black trendline is a sign of trend's acceleration.
- Support. The falling price has found support at the upper...
With a doubtful outlook on the world economy, people are seeking refuge in gold.
I already bought some gold at 972eur, and looking to enlarge my position around 1050-1060.
Price Patterns: "Bat"
The Bat Pattern, is a precise harmonic pattern discovered by Scott Carney in 2001
The pattern incorporates the 0.886XA retracement, as the defining element in the Potential Reversal Zone (PRZ).
The B point retracement must be less than a 0.618, preferably a 0.50 or 0.382 of the XA leg. The Bat utilizes a minimum 1.618BC projection.
In...
