Watching Silver to pull back in to the 17.15 area which is also a .618 fib and then push up into the 1.27 extension or a 1.618 ($19.8ish) extension to complete an ABCD
I’m watching for copper to Pull back into the last last resistance turning support in line with .618 ($2.70ish) and then continue its move upward toward $3. I will review 4hr for entries both ways. Not trading advice, just my perspective.
Im watching for 4hr price action to push up off of this major support, test out the .618 and then fall to 106.5ish. Fed had to pump to keep the Repos from going crazy and the “not QE” has a lot of position shifting with the COT report. It’s still showing heavy long positions, but there was shifting. Pull back then drop off.
While the push down is significant, major Structure is still unbroken. The most recent high never retested, so I expect at least a bull push to test the high and maybe pickup some liquidity for a short.
Cad/Chf is moving hard into a support, so no trade set up yet, but I’m watching this for a creating of a H&S. Last test pushed just above the previous high, so I’m looking for a bull setup. If we break here, it’s going to test lower structure.
EU tried to test the .786 and failed, retried and couldn’t do it, so now it’s broken back above the .618 and I think it’s going to test out the .50 fib.
Politics play into gold a lot, if there is instrument that likes fundamentals it’s gold. The decoupling of world power economies will play a large factor in the next few years, but although gold will have its fluctuations, price of it should rise significantly. All metals with industrial use will also. Oil products as well. As these economies start to “source” new...
As expected, EJ has pulled back into support. I’m watching for longs to take it towed to 1.27 fib of the A leg. Enter at your own risk, I am not a professional trader, though I’m trying.
I’m watching ECHF on Lower TF to move back into the current downtrend and meet up with momentum. I’ll take a trade if one becomes available, but with knowledge the this is counter trend.
Head and shoulder with a .786 retrace. Looking for lower TF entries.
Price looks to be forming a wedge between a 618-786 of the prior higher time frame move down. So I’ll be watching for a break of the trend line and then a push back into structure before shorting it towed the .645 area, which lines up with higher time frame structure break and a 618 of the current move.
While there is good reason to believe that we are bullish I am still Bearish until we get a break of current above structure $17.33 and retest or we have a completed harmonic butterfly that completes around that $15 mark. If we break the current counter trendline and that $1730-ish minor High structure we could be pushing to 1830ish to retest my C-Point before a...
Having rejected a solid zone of resistance and the test of the .618 has been rejecting multiple times, I’m looking for shorts on lower TF. If this pulls back as far as projected, I’ll be watching for long entries to complete an ABCD to the upside.