Hi, I made a look back since 10 years ago on gold on a weekly time frame.
I found an amazing pattern yet simple pattern (AB=CD) and using fibo level to determine entry level.
Trend 1 (Bullish) : October 2008 to August 2011
Trend 2 (Bearish): September 2011 to December 2015
Trend 3 (Bullish) : January 2016 to present
With help of the fibonacci extension level,...
After watching endlessly 5 minutes, 1 hour, 4 hour and daily charts that barely move, it is hard to not give in to a slight sense of fear and uncertainty and question all the motives that brought you to this asset. The fear intensifies as we watch all the experts, YouTubers and analysts that do not really think twice before speculating with doom and...
This is a plain and simple pattern. No need to complicate this. If BTC breaks the upside with quotes over ~8300 USD the bullish trend will continue (more likely). At least until ~9000-9400 USD
If the unlikely scenario happens that BTC breaks to the downside (like ~7200 USD and lower) we'll see further falling prices.
I think Gold is going to go up a bit to 1315 before going down, 1315 is a quite strong resistance anyway
Can try to enter that area for pullback
Adjust your risk and lot size
Trade wisely and safe
Exhaustion pattern has occurred based on three touches, broke below and now retesting. as I've seen a 3 bar reversal pattern at the retest I have found reason to be short on this pair. any questions don't be afraid to ask :)
Head and shoulders pattern in play. Price broke the neckline and pulled back into an area which I consider a resistance zone. in doing so I believe it has created a 3 bar reversal signal on the one hour time frame which gives me reason to believe this pair could be bound to drop in the coming days.
There has been a long bullish trend in Xau/Usd and the price is now at the moment in the weekly resistance zone and also soon at the top of the channel.
That means we could see a potential pullback to 1296 zone where the latest bullish push was, where the price also broke daily resistance that is also the reason why i possibly see the price dropping, cause when...
Happy Sunday traders, I hope you're ready for another week of quality trading.
As I start my top down analysis for the week, one of the pairs that remains on my radar is the USDJPY as we open the week with a head & shoulders top pattern. The head & shoulders pattern is a classic reversal pattern & after last weeks bullish breakout on this pair. Price has rallied...
Earlier in the week we did some higher timeframe analysis on the AUDUSD and saw that despite being in a bearish trend, we've reached a level where the sellers may be losing interest & could be in store for a potential reversal.
A classic way that the market reverses is in the form of a Head & Shoulders pattern.
Thus far we have 3/4 of the pattern complete as...