On the 1D chart, we can see the price breakout the demand from the left, on the same chart we can see below the next fresh demand, most likely, the price on his way to reach this Demand below and maybe also the one at the bottom, on the 1Hour chart we can see the next fresh supply levels which are great levels to sell GOLD and join this bearish momentum. I’ll sell...
Have multiple confirmations for the swing sell to the downside:
Evening star formation has been created on the daily with a retest of SR level for the continuation down.
If you zoom out, you will see a giant teacup formation on the daily, confirming that the handle is beginning to be made.
If price decides to temporarily bounce up, looking for second...
Price with gold has bounced off the 1283 daily key level zone 4 times now. If it makes it there again, I'm looking for the breakthrough to confirm again the bearish swing trade I shared weeks ago.
If price breakthrough daily key level...
If pullback begins from daily key level:
Just trading this within wedge until it breaks through one of the trendlines. Overall move is bearish, but let's what happens this week.
if breaks the trendline...
If break monthly SR area after trendline...
Wedge formation can be seen on weekly and daily. Not full enough for the breakout yet, but have to wait and see what price does for now. In the meantime, the wedge may not even be broken this week. Currently, waiting for breakout or rejection of overall trendline.
If overall trendline respected...
Must break trendline to...
This one depends on if price will support or breakthrough monthly support/resistance and trendline to determine clear direction.
Would like to see the harmonic fully respected all the way to 1.502034.
If monthly SR and trendline broken, looking for a target tp around 1.492892.
From the monthly SR area...
A bearish harmonic is still being completed before price does a retracement back down off weekly support/resistance area around 112.125. Looking for price to go as far down as the trendline for bounce up for continuation.
But if price breaks the trendline, it will fully respect the bearish harmonic and will possibly make its way down to the previous weekly SR...
dalla price action vediamo che stava facendo sempre minimi più bassi fino a quando ha fatto un higher low e un higher high! mi aspetto quindi un altro higher low per poi cercare un nuovo massimo! cercherò l'entrata sul 61.8% di rintracciamento fibo dall'ultimo impulso! che è in confluenza con un livello psicologico importante e con la media mobile a 50 periodi!...
Sul grafico settimanale, il cambio EUR/CHF sta configurando una situazione di triplo minimo su una zona di supporto molto importante, quella compresa tra 1.1114 e 1.12. da notare inoltre la divergenza tra i tre minimi e il trend dello stocastico in ipervenduto. A meno di una forte rottura della zona di supporto, possibile raggiungimento verso la zona target sopra 1.15
The key levels that marked on the chart are the next fresh supply and demand for now, each one of those levels seems to hold unfilled orders, and each one of them is a great level for Position on the first touch, I'll buy if the price hit the demand below, and sell if the price hit the supply above, that's the meaning of "buy low and sell high", for both position...
Currently, price has the option of supporting or breaking through the counter trendline to determine which daily SR level it will go to. The overall move on the chart is bearish, but do not know how much longer this flag will go.
0.74422 if the counter TR is broken
Since in a 4hr resistance zone, Awaiting the pullback sine price got exhausted around this area last week. Then a continuation back up around mid-week.
All dependent on where price turns around