It is possible to form the "Head and shoulders" model.
My reasons for entry: 9 daily rejections, not counting the previous top 27/2 makes this case interesting. The inverted hammer after the double top formed tells me that we have a potential fall to the downside to profit from.
Price has rejected MA200. We will se a new bearish movement...?
Looking at the 4 hour chart we have found resistance at historically strong support and resistance zone. Price did not manage to close above 1234.00 despite several attempts. Right above us we find a 0.618 fibonacci retracement. Looking down at the hourly we also see a 2618, a double top (which also can be seen on 4h) followed by a 0.618 retracement after...
Short Term We could have a bounce to test the trendline around 1245-50 area in the next 2-3 days and then we can head towards the DCL around 1200-1180 area which is the 61.80% retracement from the December lows. This also means we could form a H&S pattern which once broken it could fall further around 3.5%, the same extension from the neckline to the the 27h...
A potential 2618 setup is closing in on 15min XAUUSD. Price is currently meeting resistance at a previous strong support level looking back on higher time frame. Perhaps this could add to the case with the price consolidating around this area, and just maybe push price back down enough for us to profit. Im not looking for extended targets, only retest of the...
Bearish Cypher completing below previous trend/pennant line. Although it has already been violated, it could potentially hold some resistance. Lets see if it, with the help of Mr Cypher, can beat the bulls.
As USD trembles, XAU makes its path upwards. I will enter above 0.618 fibo (see chart). Entering late will give me a better risk to reward ratio, sure, it does also decrease my chance of getting involved - but I will live with that. Trend + structure were broken on the downside, which adds to the case with this 2618 trade. Order is set, lets hope we get filled!
Very strong bearish moves and shows further space to the donwside. Currently in a corrective structure we seem to be completing wave D with E expected to start and eventually break out of the structure
Double top followed by break to the downside. Selling the retrace with falling trendline as resistance together with previous structure-zone. Looking to take profit above 61.8 retrace of the leg. Stop loss above highest of the tops. Since is NFP tomorrow I will definitely be on the lookout.
Close below bullish pennant. Same trendline acted as resistance which gives us an opportunity to get short with target at previous low. Stop loss above doji.
We find touching @1256.86 and retesting this price agine AND in other side we also find same resistant @1274.39 BUT depending on basic and news analizy i think we will see broke and SHORT enter @1256.86 with main target @1248.09 ----------------------------------------------- hope happy tarading for all you can find me also in : twitter & instagram :...