We've got another pullback from 233 SMA, so there's an opportunity to have a diagonal triangle in wave (v) of {iii}
Hello Traders! Gold prices have maintained a steady state at the 38% fib retracement level. That fib is drawn from the low of 12/15/2015 @ 1056 to the high of the year at 1383. Steaming from the big selloff two weeks ago, the Stoch RSI has had time to stabilize and may be ready to move above the 20 line. Could this be the beginning of the next cycle up? We...
We've got a pullback from 233 SMA and the channel's lower side, so there's an opportunity to have wave (v) of {iii}
This price movement is likely going to be wave {iv}, so there's an opportunity to have wave {v} of C in the short term
Coming off a triple top bearish pattern, price is at the lowest level since July. If the current trend continues down I'm looking at the 38.2, 50, and 61.8 Fibonacci retracement levels to cover the position.
These are today's anticipated "intraday" exhaustion levels:- Short @ 2146.50; Stop: 12 ticks, Target: 36 ticks. Long @ 2122.00; Stop: 12 ticks, Target: 36 ticks.
Short @ 51.97 Long @ 50.40 Stop: 20 ticks Target: 60 ticks
Price approaching a 1 year trend-line support, which is a part of the larger time frame flag/triangle pattern formation. Elliott Wave principle is showing a 12345 impulsive move followed by an abc correction. Looking for reaction at this key support level to determine the direction of larger trend.
Go Long, as the price gapped up in weekly charts
We've got a pullback from 233 SMA and the channel's lower side, so there's an opportunity to have wave (v) of
There's an opportunity to wave a bullish impulse in wave (iii) or (c)
From a technical view we see head and shoulders completing and breaking down below a key 2016 support level. Key support levels at targets 1, 2, and 3 based on Fibonacci extension and retracement commonality zones.
There's a pullback from the SMA, so wave of 5 is likely going to be continued
Anticipated "exhaustion" levels for today. Scalpers could consider these levels for a counter-trend trade! Yesterday's Long from the 50.38 area produced a winner. Today: Long from 49.80; Stop:20 ticks, Target: 60 ticks. Today: Short from 51.95; Stop:20 ticks, Target: 60 ticks.
There's an opportunity to have bigger wave v of (iii)
There's an opportunity to wave a bullish impulse in wave (iii) or (c)
Potential expanding diagonal 3 or C unfolding. Still room to move on Prem. v Spot
In a weekly and monthly supply zone, heavy selling.