Be prepared y'all, this could be a blast. As you can see, we got a strong support that will make a good chanse for the price to go up. My target will be on resistance level.
Gotta say it's been a pretty unique and strong down trend for a long time, but the reverse is possibly here. It looks like it's slowing down at the moment on a strong support level. I got a good feeling it will break trendline and go up any moment. My goal will be on the top of the most recent decending trendline because the market tends to pull back to around that level.
This will be a great buying opportunity in my opinion. I can see it creating a uptrend after touching the lower trendline so it might go all the way up to the trendline above. It made a selling opportunity 9 days ago making it seem like it would begin to make a downtrend, but it went back to making an uptrend 2 days and 16 hours ago. Right now it's down at support...
The price broke a descending trendline at support level. The horizontal line is a structure and if it breaks above it is most likely to start making higher high and higher lows, that is when you should start looking for buys until it comes up to resistance level.
Could be too late for entry on this one, but if it goes down again then this could be a good entry. It recently broke above a decending trendline + it made a retest on it/demand zone. It could go up to supply zone at least.
I know this looks like a bunch of bs xD, but thats all lines of where the price could react to in the future. I just noticed that the price is reacting to a major trendline. It created structure for buys within it- meaning, it possibly made a higher high and higher low right now.
As you guys can see here, i placed some trendlines whitch i think the price is highly likely to be respected in the future. The next move for me is to see if the price will begin to create lower lows and lower highs. As shown with the drawings.
We got more evidence telling us the market might be stronger for buys. As you can see, we got a demand zone within the fibonacci. Adding that to the fact that we're currently in a uptrend tells me that the two trendlines are most likely just manipulation. I can also see some more evidence on a lower timeframe but that will be to complex for this timeframe:)
You see it's on the bottom of this pattern i see as a descending channel. The reason why i see this as a buying opportunity is because it might respect this pattern and it also has two untouched zones above which it might be attracted to. In the end of the day it might touch the upper line and continue down with its pattern or it might break above and continue up...
You can see gold is close to a strong trenline being respected four times before. The price also broke structure to the downside meaning the price got a good chanse of continuing down.
I can feel something powerful about this point because three trendlines crosses. Two of the trendlines are bullish and we got a strong demand zone thats why the market might be better for buys. It's 14 days until the price might react within the strong spot. Until then you can buy and sell back and forth if the price reacts to the trendlines .
I feel like the highest posibility is that it will break the channel and continue with its trend, but be prepared it may continue down as well.
Here you can see a nice channel pattern closing up on support zone meaning, it can bounce up from support level, break the channel and go up about 73 pips.
Market has respected the trendlines multible times and i feel like it will continue to do so. Below you can see the support level within trenline. If we add to the fact that it's is in a uptrend we got three confluences in our favour.
I feel like this could go up because it just broke above trendline on this falling wedge pattern. You see support level is also there to support the up move.
It looks like the market has created a curve i think it will go down from. You can see all the empty space below.
The price broke above structure and since it's in a uptrend, i think it will retest demand zone and continue to the upper trendline.
Im in for sells because recently it began making lower lows and lower highs.