Hey guys, I am just putting up my signal, not as a signal for you guys to follow through, but more for analysis and critiques. Feel free to say whatever the issue is, that's the only way people get better at what they do. I'd like to be in the same position for that to get better in creating my trading strategies, so go ahead and if you think my plan and/or ...
Gold has retraced to a significant support zone, in my opinion. This zone is formed by the structure and .618 fib. retracement of a bullish swing from 1124 low. Along this support zone, Gold has formed what appears to be a Harmonic pattern. Also looks like a bullish divergence on RSI supports my case for a trend reversal. Im enticed to buy gold here for a position ...
We just had a breakout from Pot's accumulation period so I'm looking to see a new market cycle form. We are currently sitting in the right shoulder on the Inverse Head&Shoulder Formation waiting for a breakout of the neckline. RSI showing momentum back on the buyers side
now that a new good zone of support is created, we can wait for a retest of that support zone to go with a perfect entry and see how he go on the resistance. If he fail to break the resistance, we still make a couple of $$, but if it break it ...
Tell me what you guys think of that one.
A breakdown of Gold with potential scenarios for both the up and downside.
The blue box indicates the criteria for entry with 4/5 requirements needing to be met before entry, this method cuts losses and gives a clear structured way to enter trades that can be back-tested.
We completed a bearish Bat pattern on this pair @ 105.89
Price currently lies at around 106.17s
This provides a great opportunity to go short on this pair. This pair has been in a down trend. We have completed at an area of support turned resistance and have also put in some bearish divergence.
Target 1@ 103.21
Target 2 @ 101.54
SL @ 107.93
Let's wait for what the Census Bureau will give us :)
1. Actual > Forecast - most of us will think it's good for Dollar :) let's see
2. Friday will add some confusion
3. Having a bear at a lunch time on wall street? well not sure, however friday new's are normally so "short term"!
4. As a traders do care, let's see :)
TA view is the same!
Well most of the participants are expecting a Pound to go down, but we already had a surprise effect with interest rate decision, so what to expect now?
1 Economy - nothing has changed yet, even though G is leaving, it will take time
2 Friday - due to some explanations on Behavioural finance studies, the market is most likely to be illogical during
Price came very close but if we can actually reach 1.4094 then we have a Bat pattern which completes at the 88.6% fibonacci retracement level.
This pattern completes in an zone of support.
Furthermore, this pattern serves as a continuation of the recent uptrend.
Target 1: 1.4354
Target 2: 1.4510
Note that that we have CPI (inflation) figures ...
- Low test candle formation.
- Rejection of both horizontal support and a downward sloping trendline.
- Price sat between 0.5 & 0.618 Fib retracement.
- Bullish MACD Divergence
- Oversold on Stoch RSI
- Trading against the trend.
- Trading towards key EMA's.
Thoughts on this position?
- Rejection of 0.618 retracement level
- Stoch RSI oversold on monthly, weekly, daily.
- Rejection of horizontal resistance
- Rejection of upward sloping trendline
- Reversal candle pattern
- Trading against the trend
- Trading toward key EMA's
0.68562 - 0.618 retracement from previous swing low to latest high.
This retracement ties in with ...
- good reversal pattern.
- price sat at good support.
- recent break of downward trendline, now retesting.
- 0.5 Fib retracement level from previous swing low to high
- Trending against the trend
- Trading through EMA's including 50EMA on daily.
Thoughts? Please comment below