Gold prices have plummeted today, down 460 PIPS so far. Price remains within a range if you look at price on the left, so I'll be keeping an eye to see how market closes & if price will push back up again. If price does push up, I do have a possible buy scenario in play. For now we just let price do its thing & create a structure.
Ever since we closed out our Silver buy position in profit & hit our Wave 5 target, price action has pretty much been in consolidation & not moving anywhere. This is why it's important to close out your trades at the right time, so you're not left holding the bag💰
4H chart has hit our resistance zone & rejected. But, on the smaller TF we're currently seeing a re-distribution schematic play out on Gold ahead of its sell off which means we MIGHT see 1 more new ATH. Re-distribution schematics normally take place in between Wave 3 high, Wave 4 low & Wave 5 high. This sell off schematic normally builds up within a 'Flat...
Previous U.S. Inflation Rate: 2.9% New U.S. Inflation Rate: 3% U.S inflation rate has rocketed up once again, which comes as no surprise. An excuse they’ll use to keep interest rates high, which effects the everyday person. Part of the game they’re playing📈
Gold has been absolutely crazy since market open last night! With a huge 350 PIPS move up on market open, price crashed back down 600 PIPS overnight. This impulse move down is a strong indication the top for Wave 5 could be in. Time for market structure to form its corrective phase now📉
The Dollar bulls have started this week bullish, alongside Gold. Both markets currently are moving with a positive correlation, which don't happen very often. We are still within our 'Wave 5' bullish move & we expect this move to carry on towards $111.350✈️
Gold has ONCE AGAIN created another new ATH. We seem to be creating a new all-time after all-time high. Option 1: Gold pushes higher towards $2,912 - $2,916 before coming back down. Option 2: Gold correct towards $2,827 before it pushes back up towards $2,916.
ABSOLUTELY BEAUTIFUL move on Gold overnight! Price has pumped up from our supply zone & so far running 370 PIPS in profit. Close to hitting ATH of $2,900🔥 Called this live, so you should all be in this trade & in profit!
🩸China has slapped the U.S. with 10% tariffs on Energy products & automobiles as a retaliation🩸 China’s tariffs on U.S. energy & cars will hurt American exporters by reducing demand & pushing down prices, affecting profitability. Energy producers may struggle with oversupply, while automakers like Tesla and Ford face declining sales in China. The move escalates...
4H chart has hit our resistance zone & rejected. But, on the smaller TF we're currently seeing a re-distribution schematic play out on Gold ahead of its sell off which means we MIGHT see 1 more new ATH. Re-distribution schematics normally take place in between Wave 3 high, Wave 4 low & Wave 5 high. This sell off schematic normally builds up within a 'Flat...
Remember my ETH short bias from 5 months ago? Despite it pushing up a little, price has remained within the trendlines & bearish channel, keeping its main trend in a 'downtrend'. We are still within a 3 Sub-Wave (A,B,C) corrective channel, with the current bearish move down being Wave C. Wave C target still remains around $786🩸
We're currently seeing a re-distribution schematic play out on Gold ahead of its sell off. Re-distribution schematics normally take place in between Wave 3 high, Wave 4 low & Wave 5 high. This sell off schematic normally builds up within a 'Flat Correction' channel, which traps in early sellers and late buyers into the market. This is why it is a hard pattern to...
We are currently seeing a re-distribution schematic play out on Gold ahead of its sell off. Re-distribution schematics normally take place in between Wave 3 high, Wave 4 low & Wave 5 high. This sell off schematic normally builds up within a 'Flat Correction' channel which traps in early sellers and lead buyers. This is why it is a hard pattern to recognise.
The Dollar bulls held steady this week & the weekly candle has just closed, with buyers stabilising price above our supply zone. We are still within our 'Wave 5' bullish move & we expect this move to carry on towards $111.350✈️
We've seen an initial rejection from our resistance zone, with Gold down 470 PIPS so far. We have seen most of today's downside wiped, as Gold has pushed back up again. We have NFP data tomorrow, so how Gold moves & the weekly candle closes, will indicate if we still have some further upside left next week.
I said on yesterday’s update that during extreme market volatility, Gold can possibly push up towards $2,868 - $2,883. This morning we saw that extreme move up & Gold has now aggressively rejected our $2,882 resistance zone🔥 Even though more upside MIGHT happen, overall Wave 5 is close to completion. Look left on the chart & you’ll see Wave 5 is now above our...
Gold is pretty much sitting on its last leg and exhausting all its bullish momentum. ⭕️Major Wave 5 Complete. ⭕️Wave V Close To Completion. ⭕️WAITING On Change To Bearish Structure.
Gold is still in its Wave 5 bullish run, hence the extreme bullish momentum. However, if you zoom out on the 4H chart you'll see that the current high isn't extremely far away from our October (Wave 3) high, which peaked at $2,790. We are waiting for momentum to slow down & show a shift in market structure. 🔴AT THE MOST EXTREME, Wave 5 can push up towards $2,868 - $2,883🔴