Gold sell down to 1465, 61.8 fib acting as strong resistance and buyers losing power. Hoping the dollar stays strong the rest of the week also.
Waiting to see if we get an equal high forming a double top, looking to sell down to the first target 1.71200. Lets see how this plays out.
Today I caught about 170 pips on the massive gold drop after completing the head and shoulders pattern. However, i am trading the break and retest again here. Simply wait for price to retest the previous floor (now a ceiling) and look for price action confirmation following this retest. If this setup plays out as I expect, im going to be keeping my tp open and...
my analysis on usd chf using fib retracement levels.
Price Broke Trendline, Retested Resistance, now im expecting a bearish week on gbp usd. First target is 1.22000
After a big break down and a retest, im looking for a buy on gold.
wait for further break down followed by candlestick confirmation before considering entry.
Following the break and retest, im looking to sell for about a 90 pip gain.
Key levels are in pink, looking for a drop down to target 53.95
Trend Reversal off resistance, tight sl and potential 100 pip gain.
Price trading at major support level, watch for confirmation of a bounce before entering long. Very possible trend reversal here.