The way i see it, we have a confirmed double bottom (close above 1224.55) with bull flag in development as shown on the chart. Basically bullish view, but PA below the 1224.55 line most likely targeting S1. Close below S1 and there comes another leg short. But, with this referendum stuff we can scratch al this and wait for things to settle down. Polls are saying...
"Head and Shoulders" and "Bear Flag" patterns confirmed . Targets as follows: 427-400 (Support level and rising trend line support) break should give the Bear Flag target of 320 and if the Head and Shoulders pattern plays out, target is 171.
Looking at the weekly, bullish scenario clearly visible. We have bullish engulfing or twizzer bottom(depending on broker print) in box on the chart. Placing fib trend extension we get 1345 as target for 0.618 ext. and possibly 1385 as 1. fib trend extension. We might get potentially double top at 1345 which will be good enough reason to short at that level, all...
"Performance of the symmetrical triangle is as follows (Kirkpatrick and Dahlquist, 2010, p. 315): Price Breakout Up: Price fails to gain at least 5% from breakout only 9% of the time; the average maximum gain before any 20% decline is 31%. Price Breakout Down: Price fails to gain at least 5% from breakout 13% of the time; the average maximum gain from shorting...
Basically, close on daily above the doji area (blue dotted lines)- bullish, close below - bearish. See chart for details. Note: The Doji is on daily.
As mentioned in the subject, on Daily we have DB and iH&S, both reversal patterns, We have a break of the neckline and a pullback for probably retest of it. I will be looking for a good entry and will target 61.8 fib retracement, as it's the exact length of the head of the iH&S pattern. Only thing that worries me here, is the rising wedge, normally a bearish...
Let's take a minute and look at the daily chart guys. We are in a down trend from 1290$ (Sep 2011) and currently in a descending triangle formation (bearish). We have a double bottom (bullish) - higher low but no higher high, so no up trend. Every time price is failing to breach the previous resistance level of the triangle (blue lines). Inside we have this...
Falling wedge, break and retest. Technical beauty, but this is gold. Targets 1312, 1336
Broken down rising wedge/channel , double top with lower high, bearish flag paying out which may take the price to 100% fib ext....Bounce from there or from current 61.8 fib. ext for a retest is expected (breaking the smaller falling wedge). Retest (if happening) should give us another lower high and down from there breaking support at 86.30 for down move to...
Let's see where this takes us. Currently scalping short, and would like to enter long on a retest of the wedge, depending on PA when we get there.
Broken bullish flag, with nice bullish engulfing candle. Good Risk/Reward, worth a shot.
Gold Short based on expanding triangle break, retest and bearish divergence. Small position in, will wait for final print of that 4hr candle to add.
Break and retest more visible on 240m chart