Triangle Breakout - My bias is LONG as were in an uptrend channel with an identified Deep Crab Pattern.
X to B dimension is a little of but within 1% and that to me is acceptable. Price is above the 50MA on 1HR
CADJPY broken trendline and came back to retest it which gives us good opportunity for trend continuation A) entry now with around 90-100 pips stop loss or B) wait for the break of another support and pullback. Let's see how it's gonna look on sunday open.
System has finally updated its position.
Has officially flipped long.
Entered with a market buy for 50% of desired position. (will update with adds or stop loss)
TPs marked (red)
Stop Marked (blue)
Waiting on the 6hr to show a long call for confirmation, Then watching for continued confirmations. Will close out if I see strong rejections developing or ...
From a graphical point of view, GOLD is currently inside a bullish channel, and, more broadly, in a flag. In theory, the flag suggests a continuation of the previous bearish trend, although, in recent months, technical analysis has worked only a few times. The price is back above the important resistance in the $ 1,240 area, and Friday has carried out what would ...
this analysis is made for everyone who is interested in long-term perspectives in the precious metal sector. As I mentioned in my last analysis in August 2018 there was a significant low at $1.167. A small but profitable long trade. So far, so good!
BUT now I think gold will go down! I see three scenarios…
Scenario 1 – red/blue line, chance ...
It will continue to drop some but we are closer to the end of this downtrend than to beginning. Wait for a consolidation and accumulation buying and a break of the channel to buy. I will let you know when its a good time to buy.