We still keep daily bullish context, but on intraday charts market looks a bit heavy and shows number of bearish signs.
One of them is "222" Sell on 4H, and it suggests deeper retracement. But we have another ones as well.
Also this pattern has one pitfall, that you should care about, if you want to go short with it.
What this trap is - visit our signature link,...
Greetings,
our yesterday's Setup with "222" Buy has worked perfect and gold has completed AB=CD upside action.
Although we have positive look at daily gold and expect action to 1217-1218 area in nearest perspective, within few hours gold could show pullback,
based on nice "222" Sell hourly pattern
Morning everybody,
Gold has formed DiNapoli bullish daily grabber yesterday. It means that while gold keeps its lows, context stands bullish and market keeps chances on
challenging of 1217 top.
On 1H chart we have "222" Buy pattern, based on daily garbber's swing.
For more details, please follow our signature link, dedicated to gold analysis.
Last Friday we've got DiNapoli bearish grabber weekly pattern, which suggests taking out of previous lows on weekly chart.
This makes us change daily view as well. Currently difficult to forecast definitely how lows will be taken - either just washed slightly or with true breakout.
Bullish context could be re-established, if market will break up recent top and...
Market yesterday has completed our short-term ultimate 1211 target and we need to increase scale of targeting.
While our medium-term expectations are 1240-1250 area, in shorter term we have 0.618 AB-CD extension above recent top.
While market holds 1200 lows valid and stands above re-tested trendline, we're looking up.
Currently price action mostly points on...
Yesterday action was dramatic, perfect example of gold style of action.
But, in dry result, we've got important bullish patterns, which let us expect action to 1202 and then to 1207 targets.
For precise patterns, levels and trading setups visit our Gold analysis page, following our signature link below
Greetings everybody, our medium-term scenario suggest reaching of 1238-1252 major resistance area.
In shorter-term, while gold stands above 1190 lows, it keeps chances on immediate upward continuation.
For detailed charts, patterns, explanations and targets follow our signature link.
Gold has a massive surge and uptrend right now, with record high physical gold purchases no wonder every trader wants a piece.
Simple trade from me for any investment vehicle - Bet up
