Daily and weekly backtest of the long trendline. RSI following suit and closed the week wedged between 50 and 200MA on 1D. A green week could see upward continuation on this trend
Quick rebound out of the supply zone sent it to the channel resistance which is also the .786 fib
Daily flashing hidden bear divergence on macd and rsi
Still think this follows my previous idea on the weekly and we see this channel down on LPSY
Another break below the double line and it will pick up speed
Gold hit the 0.236 from previous downtrend as well as bearish divergence on the daily and fell hard last couple days. Potential support here on trendline and in a previous liquidity zone with hidden bull divergence on 1D. Could see a test of the previous double top. A break below trendline could send it down to test trend at the 1600 range
Lost it's support today. Potential wyckoff on weekly. Bears hoping for famine and increasing inflation beware. Everyone saying China opening will cause inflation to rise but it should ease the supply chain issue which was half the reason for the inflation. If it finds support and trends up again we may not have yet seen the UTAD
Larger diamond pattern forming after the July pattern played out and hit target. Strong bullish divergence on the larger time frames, bounce off the .618, and RSI trend break and backtest (similar to July/Aug run) looks pretty good. Could come back to test the support line before continuing
I know this pattern can be hard to spot but this looks pretty good to me. We also have a bullish divergence on the RSI with a break of resistance and a backtest of that resistance line. Will be watching closely next week for the next candle
Haven't seen anyone posting this but this is why we're getting support the last two weeks. We've broken above the 10 year resistance line (log) and then double backtested. Looking up from here
Just an observation
Retraced the run up from the dip in Dec 2018 to the peak in Mar 2020 and looks eerily similar.
No real news behind it as things start opening up and COVID numbers drop, but maybe this GME fiasco could trigger something with the big money movers
