ive been following gold for a long time now so ill make a list of why price will potientially fall next week for 200 pips
1 huge wicks on the 4 hr time frame on my 61.8 fibonacci level
2 price made a lower high on the 4 hr after rejecting weekly support
3 price was originally in a down trend on the daily time frame
4 on my daily fib price reacted to my 61.8 level
5 price rejected of the 18 sma on the daily and closed beneath it
6 weekly candle was once 289 pips on the bullish side but wicked for 165pips meaning just like 20 pips from being half of the weekly candle rejection (144 pip) 289/2=144.5. 289-165=124
7 4hr 18 sma breaish cross
8 price managed to close under daily support on the 4 hr tf with 2 candles
9 trend line broke on the 30 min time frame
10 Lower highs keep being formed on the 30 min
AND WITH ALL THOSE CONFIRMATIONS IF PRICE CLOSES UNDER PRICE 1852.950 WHICH HAPPENS TO BE A QUARTER POINT I WILL BE TAKING THIS PAIR SHORT ALL THE WAY DOWN FOR 200 PIPS
THanks for viewing feel free to give me some feed back and show some insight
1 huge wicks on the 4 hr time frame on my 61.8 fibonacci level
2 price made a lower high on the 4 hr after rejecting weekly support
3 price was originally in a down trend on the daily time frame
4 on my daily fib price reacted to my 61.8 level
5 price rejected of the 18 sma on the daily and closed beneath it
6 weekly candle was once 289 pips on the bullish side but wicked for 165pips meaning just like 20 pips from being half of the weekly candle rejection (144 pip) 289/2=144.5. 289-165=124
7 4hr 18 sma breaish cross
8 price managed to close under daily support on the 4 hr tf with 2 candles
9 trend line broke on the 30 min time frame
10 Lower highs keep being formed on the 30 min
AND WITH ALL THOSE CONFIRMATIONS IF PRICE CLOSES UNDER PRICE 1852.950 WHICH HAPPENS TO BE A QUARTER POINT I WILL BE TAKING THIS PAIR SHORT ALL THE WAY DOWN FOR 200 PIPS
THanks for viewing feel free to give me some feed back and show some insight
