R3 LRS 1930 SMC Supply Area -R2 MRS 1903 SMC Supply Area -R1 HRS 1875 SMC Supply Area
S1 HRB 1857 - S2 MRB 1853 50% MACRO FIBO MN TF - S3 LRB 1823 SMA 44 MN TF
SELL> 1903 - 1875
BUY> 1857 - 1853
FOLLOW UP
D1 Resistance Sma44/1916 Sma200/1927
W1 On Resistance Sma44 / 1917
MN 38.2% / 1903 Macro Fibo at strong Resistance
OBSERVATIONS: Seven days 800 plus pips down. The Doomsday happened. The one I was indicating since the beginning of this month. We are officially in down trend now. A number of consequence Friday, Weekend and a Month’s end. Once again Gold showed its power of unique movement, The GDP came negative and instead of climbing up after filling the gap, it keeps on declining. The drunk elephant when it moves it kills and destroys every fundamental and technical analysis whatever comes in its way. The selling and buying points are very far from each other as the movement per day is so huge, we cannot assume close SNRs will do the job. Still waiting for Sma44 to align with any SNR of Fibo and the price to test this area to take a sell entry. By the closure of all larger time frames, if we close above 1853/50% MACRO FIBO then we might retrace towards 1903/38.2% MACRO FIBO and if we close under it then 1853 will serve a Strong resistance in the new month.
S1 HRB 1857 - S2 MRB 1853 50% MACRO FIBO MN TF - S3 LRB 1823 SMA 44 MN TF
SELL> 1903 - 1875
BUY> 1857 - 1853
FOLLOW UP
D1 Resistance Sma44/1916 Sma200/1927
W1 On Resistance Sma44 / 1917
MN 38.2% / 1903 Macro Fibo at strong Resistance
OBSERVATIONS: Seven days 800 plus pips down. The Doomsday happened. The one I was indicating since the beginning of this month. We are officially in down trend now. A number of consequence Friday, Weekend and a Month’s end. Once again Gold showed its power of unique movement, The GDP came negative and instead of climbing up after filling the gap, it keeps on declining. The drunk elephant when it moves it kills and destroys every fundamental and technical analysis whatever comes in its way. The selling and buying points are very far from each other as the movement per day is so huge, we cannot assume close SNRs will do the job. Still waiting for Sma44 to align with any SNR of Fibo and the price to test this area to take a sell entry. By the closure of all larger time frames, if we close above 1853/50% MACRO FIBO then we might retrace towards 1903/38.2% MACRO FIBO and if we close under it then 1853 will serve a Strong resistance in the new month.
Comment:
Lets C
