dgtrd

gold forming double correction, does it?

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
we are in correction phase, where the price takes a long time to do almost absolutely nothing! especially for the most part, double threes and triple threes are horizontal in character

correction patterns are usually hard to track, they do follow rules but yet not so easy to identify what is forming in advance.

the question is "what is the correction pattern forming for gold". the drawing on the chart is an attempt to present some possible scenarios of correction patterns forming

finally, correction patterns can be simply considered as a pause within the larger operating trend and we expect trend continuation once the correction patterns are over

Trade closed: target reached

Comments

bravo!
Reply
dgtrd gghsusa
@gghsusa, thank you ;-)
Reply
just see GOLD today looks your ABC count got a big thumbs up!
Reply
dgtrd alagh
@alagh, ;-) it played well ;-). so curious now how it will proceed next, is it going to be a double correction ?
Reply
very good insight!
Reply
dgtrd alagh
thank you @alagh,
need to spend more time trading so to be able to do coding more efficiently ;-)
Reply
alagh dgtrd
@dgtrd, that or you can always collaborate with traders to get a beta feedback!..BTW for whatever it is worth i have been an investor/trader for more than 12 years ..do drop a line where ever you think i can assist.BTW your MAMA and Supertrend range catches both trending moves and Mean reversion trades...the screener does need few tweaks to be effective will share more over the weekend..thanks once again:)
Reply
dgtrd alagh
dear @alagh,

I believe the best way to learn is together, to do better is together and do aim to act accordingly

For example,
the study of neglected volume is as a result of team work - selected in the editor’s picks (just want to emphasis the power of team work)



the study of rsi of volume indicators is as a result of inspiration from a user - selected in the editor’s picks



there are many updates applied based on users comments - macd-x, price distance to ma, screener part of superTrendRange and so on

I do highly value experience an so glad to hear your kind offer to share your experience and contribute to make the study better and better, sincerely thanks

BTW, I used to trade blindly in fact even was not trading and a year may be a bit more I started to took trading seriously and whenever find some time I spent it reading, researching both trading and math (long time since have not been looking to the formulas).

cheers
Reply
alagh dgtrd
@dgtrd, wow congrats for that! ready to test anything anytime!
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out