The major yellow bearish
GOLD
wolfewave was shaped successfully on 07 June as the price didn't manage to break through resistance area of ~1295-1300 and thus formed the peak at point V.
Currently, the minor purple wave is forming on H4 and if successful, is likely to re-test previous resistance level once again.
Provided that new double peak will hold successfully and if confirmed by divergence/volume, it may provide an interesting opportunity for short positions to be opened.
Good luck All!
GOLD
wolfewave was shaped successfully on 07 June as the price didn't manage to break through resistance area of ~1295-1300 and thus formed the peak at point V. Currently, the minor purple wave is forming on H4 and if successful, is likely to re-test previous resistance level once again.
Provided that new double peak will hold successfully and if confirmed by divergence/volume, it may provide an interesting opportunity for short positions to be opened.
Good luck All!
Trade active:
Slightly incorrect small WW is currently supporting the formation of point 4 of the purple wave. RSI shows clear divergence and 3 long positions were opened in Sweet Zone of wolfewave (green).
It is also possible that grey WW will become active instead of current green one.
It is also possible that grey WW will become active instead of current green one.
Trade closed manually:
Closed longs with minimum loss, too many different waves merging, grey pattern appears to be more likely, but another wave formation around 1245.xx area is also quite possible
The situation is too unclear for the present moment.
The situation is too unclear for the present moment.
