for those who missed a bullish breakout of 1278 support,
you have a chance to catch a second bullish wave.
market right now is trading in a falling parallel channel called a flag pattern.
wait and buy a bullish breakout of this flag.
target 1 - 1286
target 2 - 1289.5
After a trade war fueled spike, Gold has almost reached the 4H Resistance (RSI = 60.740, MACD = -1.040) which has rejected the price on 4 previous occasions. Based on the 1D Lower High trend line, the upside should be limited (RSI = 51.087, MACD = -2.250, STOCH = 24.630) unless the trade was escalates and more stock capital seeks refuge on Gold's safe haven, but...
Copper is on a standard 1D bearish sequence (RSI = 39.990, MACD = -0.034, Highs/Lows = -0.0234) that has just (marginally) crossed the 2.74170 Support. With the RSI however approaching the 32.800 mark, a bullish reversal alert is triggered as the last 4 times that the price bounced near or just below this mark, Copper gained +7 to +8%. Assuming that happens now we...
Today we will talk about metals, specifically Copper.
Metals are in a big rally and everyone is looking for a potential resistance, especially on Gold and Silver! But, Gold and Silver are quite unclear at this stage and it's hard to predict, where are they going to stop, so in our opinion, it's always good to take a look at correlated markets and...
Pattern: 1D Head and Shoulders.
Signal: Bullish as the price has touched the Support of the neckline. Potential rebound towards the Resistance but tight trade due to the bearish momentum.
Target: 870.00 (top of the neckline and symmetrical Resistance).
an interesting thing I have noticed on Gold.
after each and every bear impulse that we have recently seen,
pullback lasts until 618 retracement of an impulse leg.
how it can help us?
if the market continues following this rule,
we will see bearish continuation and new lower low.
with 1260 target level.
Break above the trendline with a very powerful candle!
Wait for a trendline and strong area retest, there is also Fibonacci 38% which is a great retracement ratio considering that momentum!
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Have a nice day,
*This information is mostly used for educational...
Copper prices have just broken out of a support level of 2.8495, with the former resistance at 2.9750. The market has completed the advancing and distribution stages, and has just started the decline stage. I expect prices to tank further, as commodities are in large sell-offs these past weeks. The price is also forming a new downtrend, as it makes lower highs and...
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XAUUSD - Fractal TIP!
The pattern from 16-08.2018 until 13.11.2018 is repeating.
It can be noticed intraday on current charts, from 23.04.2019 until 16.05.2019 (today).
Many pips ahead!