All is on the chart. Just a set up I'm watching and trading. Do your own thing.
XAUUSD Looks like expanding flat ABC in making. any extreme retrace also make valid pattern to trade downspike. by previous impulse and fib line, I suspect quick spike to 1144 atleast and then Up. Any thing below is dip buying. I do not call for short at this levels. just watch and do the dip buying. larger trade is upside.
I've noticed that when moving averages converge and then cross while in a downward path (like the two next to the red arrows), the trend reverses. The same goes for upward momentum as indicated next to the green arrow.
Still think the miners will rip in 2017
Daily Chart I think that that was a great sign on Friday, Jnug up strong even in the wake of multiple days of great economic data. We broke out of the wedge and should move up with the Italy vote. But I think we will only reach around the $8.90 range before a little pullback. Then up hard to the second oval. At the end of the week or over next weekend we...
Bears seem to still be in control. Bulls will try to reestablish their ground at 1700. Bears/Bulls are going back at worth in this downward red channel. Safe trading!
The fight/focus area is the yellow box. Bull will try their best to retake the new resistance of 1170. Bears are gonna try to ride that momentum near the new support of ~1160, while also battling the dowwnard channel that has been alive for the past few days. Safe trading!
Pretty straight forward long setup for miners. It's all about patience and finding the pivot point in the coming days for first entry. RSI divergence, MACD divergence and also end of C wave impulse. This could also possibly be the absolute bottom of wave 2, but we'll need a couple of weeks or so to know for sure. With that said, there's going to be (at the very...
Reversal zone is 1171/2. This may not be the big bull but if it's a solid retrace, then here are some targets... on chart. Good luck.
Just something big picture, again, to look at. Gold on Daily. With retrace points of interest. Not a trade but something interesting to see.
4 Hour Chart Time for a bounce yet? I think yes. But nothing too fabulous. The oscillators need to cool off because the next drop will be big. We are way oversold with a lot of bullish divergences. I think we arein the middle or our B pattern and the Fed hike should mark the beginning of the downward C. I also think that the December 4th Italy vote cold...
With the help of USD slowing down a smidge, let's see if JNUG will continue to follow my red downtrend channel or break through and catch up to it's stronger uptrend blue channel. Arrow is my plan A. red channel is my plan B.
It look like we are in a wedge inside of a developing bear flag. That being said, we could visit the upper part of that bear flag tomorrow at the $9 range before the next drop. The dollar looks like it wants to at least test the top of the break out area. So be ready for a short term pop.
I have deeper patterns published but this one is interesting based on price action tail. All is on chart.
Dollar Daily Chart I wanted to start off with the Dollar chart because this week something happened. The dollar broke to new 13 year highs. And from my point of view, that changed the count for the dollar. By changing the count, I worked out as best that I could what to expect in the near term future. First lets look at Fib #2. Fib #2 shows the 100% level...