So i like to forecast what could happen on every trade i take always finding the best highest probability, this setup looks so clean at the moment be nice to know what you guys think and if we forecast both situation then we wont be shocked when it doesn't happen either gold for the win :)
keep it simple looking at current price action the way price has fallen and type wedge formation i would say this would break out eventually but given that zone weekly zone which would line up with number 2. that would be the better trade to take
just say patience let the markets shows its hand first don't rush any trades
so very interesting level so after some bearish momentum and looking over a the DXY this still can move lower and would line up across the index for the dollar to gain strength for next week to around 98.55 if this is correct then this would sell off and line up with a strong double bottom to then buy this pair lets see how we open tonight and stay neutral still...
as seen here if we respect this area and rejected 0.618 fib and testing the current 50 EMA as support this will be a nice long position trade RRR 1.4 as this trend is bullish at the moment taking this to the top of the first ray line seen price can turn around at that area
here another setup now both interesting either one but this is why we wait and stay patience wait for the right time or wait for the market to confirm the next trend especially at a key zone in price stay open
with this price action with how we have moved to this outer structure this looks like the buyer are coming out and now the seller will be coming in with the corrective way of moving with price action this is looking good for a short and showing a clear rising flag this could drop out we could go from the top down or get a hover and then break on the drop but...
after a bullish break on the weekly and looking over at the dxy looking to gain more strength this looks good to carry this bullish momentum on , check the lower time frames for a clean entry or a retest on the zone
This on the weekly time frame looks so clean price has respected this lower zone for some time now and the way we have fallen even better for some big big moves to the upside
this will be a really good swing trade to place!
Now gold has been mad over the past couple of days, theirs some strong indications that we will be moving for one last push down before moving higher this is the 15 mins time frame for a filter on this trade number 1. if we get the hover on that ascending channel i will enter that on the drop
or number 2 we come back up to test that double top area and break down...
this is now at a really strong area a key level in price i said we would get back to this level now do we reject or break above and gain strength ? interesting but this pattern does show more for a bullish move up but this can always drop out so stay neutral and wait for the first move to be confirmed
so after a strong impulsive move now in the counter trend or the correction i will wait for a retest and a clear rejection from either 0.382 or 50% FIB and a rejection from the 50 EMA just wait for conformation before taking this trade as we could still move lower and impulse from the bottom of the falling flag lovely trade setup here
so this breakdown shows 2 outcomes and what is possible in both situation and your trading psychology behind both sets up ? can you accept this 1% loss knowing that this trade shows and lines up with the higher time frames ?
and seeing how we got there with some strong momentum would this put you of this trade ?
biggest issue behind trading falls from your...
so after yesterdays post for gold and re doing some more analysis 100% still looking for longs with gold theirs 2 outcome with this setup, we keep corrective till we hit the downtrend and then drop towards this strong area which would meet up with a strong weekly zone or we move out of this area with some strong monument but adding with 618 FIB rejection once with...
this is looking really good for a massive long term buy trade on this ? what do you guys think looks very interesting still awhile away yet few more months and price will be there ? seen on the last move with around 333.39% eyes on this!
hi guys and girls so looking across the board going in to next week this is looking really good at the moment but please stay open and neutral this is just what i see and think at this current time but please leave a comment and let me know what you guys think
have a great weekend :)