Ok guys, target almost reached, the question is, what now to do?
We can see 2 shooting star candles (which is bearish). We need to be patient we have to wait for that candle to close.
MACD losing his strength. RSI showing bearish divergence. This will probably be easy trade. There is too much bearish arguments.
I think it will found massive resistance in that golden pocket area (0.618 - 0.65 Fib).
I think we can say B wave (Corrective ABC waves) will be formed there.
My trade will be short at 0.618 Fib, and my target is 0.382 Fib (1283$). In case that I am wrong i will put stop loss just above that 0.786 Fib (1334$). Risk to reward ratio is 2.83!!!
I think it will wound strong support at 0.382 Fib, and possible form double bottom. Will that be C wave? We will see, until than let's focus on this trade.
If you have any questions fell free do DM me or post comment. If you like my trade and anlysis make sure you hit that like and follow button. Thanks!
We can see 2 shooting star candles (which is bearish). We need to be patient we have to wait for that candle to close.
MACD losing his strength. RSI showing bearish divergence. This will probably be easy trade. There is too much bearish arguments.
I think it will found massive resistance in that golden pocket area (0.618 - 0.65 Fib).
I think we can say B wave (Corrective ABC waves) will be formed there.
My trade will be short at 0.618 Fib, and my target is 0.382 Fib (1283$). In case that I am wrong i will put stop loss just above that 0.786 Fib (1334$). Risk to reward ratio is 2.83!!!
I think it will wound strong support at 0.382 Fib, and possible form double bottom. Will that be C wave? We will see, until than let's focus on this trade.
If you have any questions fell free do DM me or post comment. If you like my trade and anlysis make sure you hit that like and follow button. Thanks!
Trade active:
Target reached. Let's short this. We can see bearish divergence on MACD and RSI. I will update more infomation here. If you have any question write a comment or send me a message.
Trade active:
Yup, there is a drop, I expect little retrace on 1310, than hard drop.
Trade active:
This was so easy. Don't forget to close your trades soon.
Trade active:
Be ready to take profit. Expecting decent support at 0.382 Fib
Trade closed: target reached:
I'am closing my trade here. Gold found nice support here. If you like this trade don't forget to click that like button.