Gold went up and exactly touched 1220$/oz (checked it on a one minute interval) as predicted in my previous plots (3 weeks ago) and now will move south:
In short-term perspective price will rebounce at some levels (navy blue lines).
Price already retraced back to it's Exponential Moving Average (red line), that is a natural move.
Moreover, Buy or Sell Signal indicate that price approached to the Sell trendline (orange).
I'm still learning but in my perception price of gold will move down in next few days or
move sideway, approach ichimoku cloud and then keep going down.
Wide spread of ichimoku cloud (red and green lines) indicate strong downtrend.
Upcoming few days will release a lot of data on US economy: www.forexfactory.com/calendar.php
Indicators will be positive and gold will move down while DXY goes up.
Price already retraced back to it's Exponential Moving Average (red line), that is a natural move.
Moreover, Buy or Sell Signal indicate that price approached to the Sell trendline (orange).
I'm still learning but in my perception price of gold will move down in next few days or
move sideway, approach ichimoku cloud and then keep going down.
Wide spread of ichimoku cloud (red and green lines) indicate strong downtrend.
Upcoming few days will release a lot of data on US economy: www.forexfactory.com/calendar.php
Indicators will be positive and gold will move down while DXY goes up.
Comment:
On 1D interval chart, gold formed very rare Doji pattern called: Four-Price
Definition of Four-Price Doji
This candlestick is simply a horizontal line that has no upper and lower shadows.
Recognition Criteria
1. The length of the body is null.
2. There are no upper or lower shadows at all.
3. The open, close, high and low are the same throughout the entire day.
Candlestick Requirements and Flexibility
The body should be colorless and have exactly zero length. There should be no shadows.
Trader’s Behavior
A Four Price Doji is a very rare occurrence and it will be seen only if all the four price components are equal. That is, the open, high, low, and close turn out to be the same. It represents complete and total uncertainty by traders concerning the market direction. It usually occurs when a stock is very illiquid, has low volume, or the data source does not report any other price other than the closing price.
The Four Price Doji is not reliable on its own like most other candlesticks. It only reflects one day’s trading and conveys a sense of complete indecision. Like all other doji types, Four Price Doji is also important only in markets where there are not many doji. In a chart characterized by many doji, the emergence of Four Price Doji does not have a signal value.
www.candlestick...om/Pattern.aspx?lang=en&am...
Definition of Four-Price Doji
This candlestick is simply a horizontal line that has no upper and lower shadows.
Recognition Criteria
1. The length of the body is null.
2. There are no upper or lower shadows at all.
3. The open, close, high and low are the same throughout the entire day.
Candlestick Requirements and Flexibility
The body should be colorless and have exactly zero length. There should be no shadows.
Trader’s Behavior
A Four Price Doji is a very rare occurrence and it will be seen only if all the four price components are equal. That is, the open, high, low, and close turn out to be the same. It represents complete and total uncertainty by traders concerning the market direction. It usually occurs when a stock is very illiquid, has low volume, or the data source does not report any other price other than the closing price.
The Four Price Doji is not reliable on its own like most other candlesticks. It only reflects one day’s trading and conveys a sense of complete indecision. Like all other doji types, Four Price Doji is also important only in markets where there are not many doji. In a chart characterized by many doji, the emergence of Four Price Doji does not have a signal value.
www.candlestick...om/Pattern.aspx?lang=en&am...
www.zerohedge.com/ne...nts-washington-today