About meAll my ideas posted are real trades executed with my real account. My posts are for educational purposes only, I don't mean to provide recommendations or investment advice, I only want to trade with swag.
GOLD has reached a major resistance point on the daily chart. Plus I have identified a triangle is starting to form maybe because GOLD will consolidate before taking another big move. We are entering a SHORT position aiming to the bottom line of that triangle with the SL set just above the prior high.
We have seen a collapse in all indices, we have an overpriced Euro and USD ($DXY) is showing a strong reversal pattern.
Our target is 91.70 while SL is just below the support line we drew in the chart.
WTI got it's uptrend broken and a new bearish channel is starting to show. We must watch for that 58.50 level, if Crude Oil cannot pass that point, we are entering a short position looking back to 54.30 on a first target.
We also got a nice resistance that supports my theory.
WTI looks like is rejecting a new high, it seems like it is going down to 56.20; We are identifying that it is still inside a bearish channel but we have also a wedge so it may be breaking this channel soon to make a huge move (it can be either up or down)
We are entering a Short position but with a close follow-up since it can go up anytime.
WTI (Crude Oil) missed to get a new higher high and it looks like it has entered a bearish channel with target at 54.
We are waiting for it to develop, if it goes up to 58.50 it may be regaining a bullish movement.