BetterBusinessBully

BetterBusinessBully

Remaining neutral until a bottom is established. If price action favors staying above 2285.21 there is a possibility for a correction I will not make too many assumptions about what happens next until after the first 8 hours of market open.

BetterBusinessBully Updated 

For the purpose of this analysis I am neutral however price did break-out of a bearish channel which was more like a range that when side-ways in a downward angle in terms of the LH but same lows for 9 days. Chart shows what I would like to see and obviously I would take long contracts as the corrective waves provided all parameters are met.

BetterBusinessBully Updated 

Thesis is outlined in the chart. Heavy 4H TF divergence > Bearish breakout already retested impulse followed by correction to 78.6% Inverted hammer above box Waiting for strong closing bearish candle and then retest of 199.504 to enter 90% probability based on rule parameters

BetterBusinessBully Updated 

Personal Journal entry Already entered trade is happening to fast based on Rule sheep parameters this is a 60% probability trade however over all trend is bullish probability that cycle just finishing and this is the start of a new Nice hammer engulf above box and there Taking ride up to 20 pips below EMA

BetterBusinessBully

Personal Journaling only chart shows detail Bearish move from last week to retrace back at least 50%-61.8% in order to continue bearish cycle. Ill continue to move my stop loss to break even in order to maximize my follow through. If I can scale in at those higher lows I will.

BetterBusinessBully Updated 

2414 support weekly support tested multiple times on 4H (support respected) Bullish retracement breakout to then retest 61.8% of the bullish move post breakout targeting 1.272 extension which is slight above 2435 which is monthly resistance and was tested during the breakout. Price will likely break through if it doesn't I will take profit here or just adjust my...

BetterBusinessBully

Price has been in a range for couple weeks, just retraced to 61.8 bullish retracement headed to the top of the range. This is a low risk trade with make buying major coming in to the top of the range, I’ll take two positions and close one at the top of range and wait to see if price breaks above the range finally send position tp will be at 61.8 of bearish...

BetterBusinessBully

Trailing and scaling initial trade great opportunity for another entry at this level for a short. Price was at a bearish retracement 61.8% broke out of the micro bullish channel. The previous bearish move was extremely violent in comparison to the bullish move that took a whole week. I will ride it down to about 61.8% retracement of the most recent bullish move.

BetterBusinessBully

Journaling: Price is sitting below 0.618 of the daily bearish move. Although price has moved up its taken 7 bullish candles to retrace 61.8% of 3 daily candles. Unless price breaks above 61.8 we will see a bearish move. No need for a large SL my target is the next 61.8 where I will take partial profits

BetterBusinessBully

Rational for bullish sentiment: After a full week of sideway consolidation price broke the high and had a bullish run; this makes the most recent trend bullish for which we had a 61.8 candle body retracement. We broke out of a small consolidation box and retested May 14th, 2024 Entered at 2350 w/ 190 pip SL accounting for Gold large range I will take partials...

BetterBusinessBully

The last bullish rally before retracement was 170 pips. (half this can be SL) The last 3 bearish moves from top of the channel have been 350+ pips Price will likely fill the wick from May 24th touching the top of the channel. IF A BREAKOUT HAPPENS BE CAREFUL AND ONLY BUY AFTER BULLISH AND BEARISH CANDLES CREATE HH. WE ARE LIKELY LOOKING AT A BEARISH MOVE...

BetterBusinessBully

Fundamentals are saying Gold futures are inching down (retracing) because it has been a bullish trend for quite some time it was long overdue for some substantive retracement/correction. They followed it up by saying economic uncertainty is likely to create pressure. Technicals show prices ranging inside of a channel and the middle of the channel acting as...