Kumowizard

Price action still not clear. Key level 1075

FX:XAUUSD   Gold/U.S. Dollar
336 3 9
Daily:
- Ichimoku bearish , but shows an oversold picture with price far below Kijun
- Heikin Ashi shows consolidation, but to extend into correction we need more confirmation: candle pattern and haDelta is similar to the one we saw 19-20/Nov.
- EWO is bearish .
- For a pull back price should break and close above Tenkan Sen at 1071, and haDelta to stay above zero, with HA candles gaining some momentum in form of bigger green bodies. Possible retracement would be 1120-1130.

4H:
- Ichimoku is leaning towards neutral. It can become bullish only in case o a 100 WMA and Kumo breakout. Key reversal area is 1171-1175
- Heikin Ashi shows consolidation after the spike, short term bias is still bearish as haDelta failes above zero, Oscillator goes red and EWO is still slightly below zero.

Don't rush with swing longs! We may see one more dip first. Than similar to EURUSD             strategy, later you can set up a stop buy around 1072-1075.
tdmpac PRO
a year ago
good to know I'm not alone in this line of thought
Reply
Kumowizard PRO tdmpac
a year ago
markets are way too big... you can never be alone with your view :-)
Reply
tdmpac PRO Kumowizard
a year ago
heh, true that. lets hope Yellen agrees with us too hahahaha
Reply
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