arnelia16

arnelia16 Updated 

Since reaching a height of 4868.8 in November 2021, the value of Ethereum has seen an 81.9% depreciation and an enormous amount of selling pressure from the market. For the next week, I believe that bearish bias will continue and we will see further downward pressure on ETHUSD. On the 4H timeframe, Current price action is in a downtrend and has formed a 38.2%...

arnelia16 Updated 

The Fed's Higher-for-Longer Interest Rates and a strengthening US Dollar has caused a bloodbath in the price of Gold. Since September 1, roughly a month ago, the value of Gold has depreciated from $1953.06/troy ounce to $1845.80/troy ounce - a 5.5% drop in value. So, what's next for Gold? Will the selloff continue? Yes and no. A weaker-than-expected US...

arnelia16

As mentioned in the past, my long-term bias for XAU is bearish. Price just broke and retested a major structure trendline so I'm expecting it sell off with a TP @ or near 1904.8. Keep an out eye near the foundation level (red) because price may consolidate there before dropping to hit our TP.

arnelia16

Here's my analysis for GU for this week. Let's take it step by step. Overall, the long-term bias for price action is bearish. This is supported by the descending triangle pattern that has developed between the monthly trendline and monthly zone. On the weekly timeframe, price has experienced a trendline bounce after completing a 38.2% fib DT. This indicates to me...

arnelia16

Historically, overall price action has been in a strong uptrend, reaching its peak in Aug 2020. Since then, price has dropped and retested our monthly supply zone on two different occasions. The wick rejection near this level and the inability for price to move beyond this point implies to me that overall price is stalling and a trend reversal may be near. For...

arnelia16

Here's my current analysis for GU Point A: Previous Price Action On the 4H timeframe, price was in a 23.6% uptrend (that represented the pullback on the daily timeframe). We were nearing 2 crucial levels - the -27TP1 for the 4H fib and the daily trendline. From this data we can assume that price could undergo a trend reversal at or near one of these...