Price have reached 1d trendline top forming this 1h wedge on daily basis 1st TP red line 2nd TP green line. Long term sell TP bottom blue line on my previous 1d chart.
I have small telegram chat where post instant updates for my charts: t.me......
Un es esmu forex traderis no Latvijas un mekleju biedrus, kas butu ar mieru...
GBPNZD really close to trendline resistance, long term TP can be dark blue line.
Keep in mind that GBP pairs can make some unexpected moves.
Trade safe, Good luck.
Pluss I have small telegram chat where post instant updates for my charts: t.me...
Un es esmu forex traderris no Latvijas un mekleju biedrus, kas butu ar...
Key level for gold right now, if we break red wedge buy a ticket to 1st TP for SELL to yellow line and possible to 2nd TP red line.
But clear sell only when we go below that line and best place to enter only on the retest of the wedge.
Pluss I have small telegram chat where post instant updates for my charts:...
Last time I shared DAx idea, it didn't go well, but I found that I wasn't seeing one inverted H&S pattern. In this idea there is inverted H&S and its TP have been reached and we also have reached top of the rising wedge.
So if DAX breaks bottom line of it then down to red line and maybe to the yellow line too, but will see.
I attach link to my MT4 chart...
We have formed one big 4h rising wedge (red lines) and in that we have one smaller wedge green one , if the big one is valid price can/should go down to 1493, which would be the take profit level for small wedge and also the touch of big red wedge . Either of these wedges to be valid gold needs to break 1503 level, which so far is really good support level .
I know this one goes against my previous gold chart, but I think that this one can't be ignored. This looks like a huge/long bull flag on 30 min, price has closed below fib 50 level, which can mean thats it's not valid, but on my MT4 chart this close has been really smal and short, even if that's not a bull flag then it's a nice chanel. keep in mind this one, and...
Now we have some more candles, GAP has been closed earlier today and now I see another sign for further up - bullish pennant, bottom lines have breen drew on 30 min time frame, so on 1h they probably doesn't look too right but on 30 min they are so if/when pennant is broken 1st tp at 1555.
P.s. Here is my new telegram group!...
1st. I see H&S pattern on USD index 1d chart which is testing it's necline now.
2nd. We had pretty big GAP when gold opened, which closed just right now.
After these two I'm expecting gold will go back up to this day high (pink line) if we break it next stop on MT4 is 1605. Thats prety high jump, but if USD H&S wil work it that not even the highestwe can go.
Long time no see!
So this looks slightly different than on my MT4, but idea is clear. I have a buy limit at that bottom blue line with TP all the way up to horizontal pink line. On my pont of view that green circle is a fake break out, following the news that day, (Don't remember which exactly.)
Hope this is helpful, good luck!
So since my last post about DAX has been throwed in the gutter, only right thing was this chanel, which turns out to be HUGE
possible bear flag. I'have pending sells on all three pink lines Tp around 11 500.