I have another chart for DXY but want to also watch gold's higher TFs, as I trade lower TFs. If the dollar is starting an ABC correction, gold should see a bull so I want to watch these fib areas. If the dollar is not done, I'll trade accordingly. I currently have a 4hour harmonic short (see below) but we'll have to see how traders/market wish to start the year...
Not a trade; just a reminder of area I wish to watch. If the US Dollar completed wave 5 then we could see an ABC corrective. Will wait, watch, and see.
Good luck, be safe, don't enter short early. I'm holding longs into this, will only short if it fails breakout of 115x. Be careful around 1144 if it slows, stalls or turns. However, if it reaches 1140, I'll hold shorts longer. Enter only if it turns at 1149.3 SL at 51.95 (where if it breaks, I'll turn bull/long) Target is 1144 and 1140
ALWAYS WATCHING. WON'T TRADE THIS UNTIL I SEE A REVERSAL. I POSTED A FEW LEVELS I'M WATCHING. GREEN TARGETS ARE IF IT TURNS AT 1.618,- 124. SINCE THIS LOCKS THE DRAWING TOOL, I WON'T BE ABLE TO UPDATE REVERSAL ARES, TARGETS, OR CRAB LEG. SO, USE YOUR OWN CHART, MAKE CHANGES AS IT DEVELOPS, AND I'LL TRY TO ADD TO THIS AS WELL TO SEE WHERE IT ENDS. USDXXX...
No set/fixed targets yet. Watching closely.
Holding shorts wasn't easy while sideways in "the cloud". But we're free now and it dropped fast. I did close some short position and will hold the rest to see how deep it goes before it needs a break. 1h RSI is pretty deep already. Will add to short position when it either touches trendline on 1h RSI again or see if it retreats higher. 1150 is a signal for bull...
ALL IS ON CHART WAIT FOR SAFE PRICE ACTION AND POSSIBLE NECKLINE TEST. OIL ISN'T HAPPY WITH DOLLAR MOVEMENTS. SO IT THE DOLLAR TAKES A BREAK FROM IT'S PUSH, OIL MIGHT GET A BOOST.
As usual, I like to post what I am thinking, seeing and want to know and remember while trading lower time-frames. Timing might be off, though we fell quite fast, but here are some fibs I'd be watching if it turns bull. It would have to breach 1150 to the North for me to consider bull. Also, the moving averages would have to agree on what ever time frame I'm...
2 Moving Averages, MA11 and MA31, close. Safe gains, stop loss at break even. It's not every penny you could make but it is a safe way I made a few bucks last week while testing new ways to spot check another system/method I am using. $52 worth of gold movements last week wasn't too bad for a system so simple. Enter/close when the two MA's cross. If they are...
There is little most see that can slow down the US Indexes if interest rates, banks and oil push forward in the next month. But, if trends hold true, then we could see them take a breath soon. There will be a lot of movement along this drawn line. It's by no means a perfect path, again, similar to my other big picture charts, I'm just trying to keep things in mind...
Again, just like my other big picture posts, just areas of interest. Not a trade but may help direct lower time frame patterns, movement and trades.
All is on the chart. Just a set up I'm watching and trading. Do your own thing.
See chart. Will be interesting to watch the next few weeks/months play out. Try this, find the head and shoulders on Monthly and see where the target price is for a laugh. See patterns in Bull Bat how deep, for trade ideas for when Gold turns around...
Reversal zone is 1171/2. This may not be the big bull but if it's a solid retrace, then here are some targets... on chart. Good luck.
Just something big picture, again, to look at. Gold on Daily. With retrace points of interest. Not a trade but something interesting to see.
Lower time frame harmonics have not held any of there reversal zones. So, be sure it is reversing before entering. No early entries will save your cash. Harmonics are to show you where it may retrace to after reversal and are not a crystal ball of price action. Also, notice the two legs (second part of crab). One is where we are now/today and can retrace before...
All is on chart. 2 bats, 4 targets. But I've had fun scalps in decent range this week. Waves show that we could go to 1180 but could also be done closer to 1210. Either way, with all of the recent sideways action, either can fire. Looking at the events soon, rate hike, turn of year, earnings, new US president in office, can start more action.
I have deeper patterns published but this one is interesting based on price action tail. All is on chart.