XAUUSD is approaching our first support at 1274.97 (horizontal swing high resistance, 61.8% Fibonacci extension , 76.4% Fibonacci retracement ) where a strong bounce might occur pushing the price up to our major resistance at 1302.26(horizontal swing low support, , 61.8% Fibonacci retracement, 100% Fibonacci extension ). Stochastic is also approaching...
XAUUSD / H4 / Technical Chart
Formation: Cypher Pattern
Risk Management: Fixed Lot Size
Target and Stop: On the Chart
Wish you many pips
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If you have another analysis at this pair, please share in comments, I will be glad to discuss with you.
XAGUSD is approaching our first support at 14.36 (horizontal swing high resistance, 61.8% Fibonacci extension , 78.6% Fibonacci retracement ) where a strong bounce might occur pushing the price up to our major resistance at 14.98(horizontal swing low support, ,38.2% Fibonacci retracement, 100% Fibonacci extension ). Stochastic is also approaching support....
XAUUSD just got our 1st tp hit, 140 pips profit.
This is its 5th wave on daily chart which has not finished yet.
The harmonic could send it down to lower position like 1212 as long as you could hold a short trade that long .
We are now waiting for our next target with half size and 0 risk.
Good luck to all you guys!
LESS IS MORE!
Dow Jones Industrial Average Daily Line Break Chart,
which uses closing price bars,
appears to be on the verge of entering
the proverbial "black hole " on the chart.
I've drawn an elementary circle around
the price area on the Dow chart,
where this almost "forbidden" event could occur.
It appears that recovery volume is quite lacking at this point,
Short gold for catching third plunge with targeting below 1268, as we can see gold got small consolidation between 1279~1273 and construct the energy to move forward when interval be break.
In another observe, gold lack the third downward to fulfill basic downtrend pattern, thus we can anticipate gold will drop to...
We would potentially see a bounce of the 1.272, at 2830 for a potential long setup. I would keep a really tight long setup, at 2810, to test out this support.
This means that the next wave 3 is up to 2960, and wave 5 will hit the resistance at 2997-3010
With last weeks price action we have a strong indication that the U.S Dollar is currently the biggest influence on the direction of Gold prices.
The price action further indicates that Gold is no longer a safe haven asset, but rather an investment. A lack of buyers who are choosing to invest in assets that could provide a better ROI makes the potential for a...