This is my XAUEUR markup that I'll follow 'til 4.05.19. I react to levels, so I patiently wait to see certain things take place in the market. *DISCLAIMER* THESE ARE JUST MY HUMBLE OPINIONS, NOT TRADING ADVICE.
we have just found that XAUEUR Hitted Major Resistance of 1 Hour After a long Time, We are Hoping to approach our 2nd Target aka Max Wave 3 otherwise First Target which is Inter Tyw3 Respectively.
Bat didn't work out very well, didn't it?
Now we have big big big red candle ripping through previous supply level.
Well, is it the end for Gold?
I don't think so.
We can see clear wave structure forming from the very bottom and it seems as though we are in potential wave IV.
Hence, here's our trading plan!
We will wait patiently for 1287-1293 area....
on the weekly chart, I see potential resistance zone marked out which has been tested several times so I am hoping price will be influenced by sellers hopefully and that selling pressure will be emitted due to psychological levels. Also this is in confluence with the downward trendline as well so I am hoping price reacts to that.
This is a position trade as well...
Alright these past 2 days have seen golds price run stagnate a little bit, and the time to blow off some off this bulls steam is now since we are due for a correction of some sort. Dont worry though because this is a healthy part of the market, and is expected. Now the last major level falls exactly on a FIB level near $1234. I expect this level to be tested in...
This is going to take a long time to see if I was right or not but its going to be fun looking back at this in a few years, if the world as we know it continues of course.
nb:
* please do not use it as a basis for opening a trade, Thank you
** My analysis may be wrong, because I am not yet professional but amateurs and still need a lot of learning.
See the main chart for entry and the required tp and sl. any updates will be available when needed. please take into consideration the spreads of your broker and integrate them in the entry and tp sl details appropriately. cheers
WE expect US dollar to fall and the bond market to be propped up to force money into stocks and push stocks higher
If gold falls --> Dollar go up --> the whole world falls in terms of fiat purchasing power --> Chaos
Will they kill paper gold once and for all and make the world's fiat burn?
Phenix rises?
Debt has risen since 2011 why has gold and silver gone...
We have been wrong about how far they are willing to take the world down the shit hole once again just to surpress gold in $
Buyers should come in here
Hard to justify a sell
Crazy divergence daily RSI
US dollar craziness
10/30 spread craziness
Stock market will not make new gains if gold continues to fall either
They have to make up their minds now --> FED
We already timed this support area but after this failed test (H&S) we are more confident that Long Gold will be a good trade considering the situaton in DXY / UUP, BND and USDCNH
trade with care
