Price is in a downtrend respect to the wave counting, but at the same time I pointed out the formation of a corrective wave range 1806 - 1810, in the left corner I pointed out the order block leave from the past order flow. Price is moving from minor supply to form new liquidity over 1766. In our case, the price has pushed away from the supply and is aiming for a...
Just want to share my perspective on implementation on Wyckoff + EW principle. it's about market maturity and order flow
Price will be climb to strong supply after doing a minor correction
D1 1. SNRZ - reject SNRZ 2. Trendline - breakout bottom trendline 3. Pattern - inverse cup & handle 4. Trend - downtrend at support/demand area 5 BRN - reject BRN * Strong demand DBR
1. SNRZ - breakout and go to next SNRZ 2. Trendline - breakout upper trendline 3. Pattern - Head and shoulder 4. Trend - uptrend bullish engulfing 5. BRN - try to breakout BRN * Candle close at many of shadow in bullish condition. after a few days sideway (consolidate), price momentum break a supply. * Bullish engulfing after sideway
USD slightly strong before continue bullish or bearish. take the opportunity from the reversal candle to buy position then waiting for next position either it break SnR zone or reject.
Here some technical analysis about gold. initially USD looks will be strong. once the price reach demand area, we can enter buy position.
Price in sideway about a few days. Caution for all who want to trade this pair. 1st is chart pattern just look rectangle bullish continuation. BRN, SnR and trendline is confluence if breakout. If candle are close in a lot of shadow, it show the high probability price will follow direction of candle close.