so this is my overlook on gold at this current time and its looking really good but we might need a bit more time for price to develop a bit more but this shows a few different types on what could happen with gold as we know this doesn't have to happen. but this looks very clean and has a good probability hope you enjoy :)
please let me know what you think!
so price is slowing down at the moment with this pair but on the daily time frame this looks clean we're a bit away yet from reaching this double top area which is a really strong area as we have been bouncing of that resistance for some time now but with the way we are moving and
giving the corrective price action this could go early
so looking at this now if we break below this strong area then gold will start to move but looking at this price action now if we wait and retest this zone and the back of that downtrend acting as support along side with other factors then we will see gold drop and the dollar rally up to around 98.55 area but i like i said if we break then gold could start its...
so adding up a lot to why i would take this long under the 200 EMA landing along side the 382 fib and retesting a good area of support once again and backing by the higher time frames this could go higher than my TP target but i like to be in and out of the markets depending on how i see a situation not a lot of room left before we could see some big bearish...
price is coming into a key level now so daily time frame and looking left and seeing what we have had before now will this go early or could we still have a bullish run taking the last highs out and then we drop ? looks clean at the moment lets see on the lower time frames but keep this one open as we could still reach highs above this zone
here a few different setups looking at this trade now this looks to be a nice hover within a pattern but this can still move higher and then drop out we need this trade to be confirmed before placing any orders :)
stay patience let the markets come to us
wait for the right time to buy or sell
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