Doomprophet

Doomprophet

from the daily chart we see the top of the descending channel(fibo 0.5 level) has rejected the price upward movement and the price will go to lower fibo levels in midterm .

Doomprophet

as we see from the four hour chart the price is on the fibo 0.618 level and the descending channel top . if it breaks it strongly we can look for a good long position and if it detests we can find a short position to the lower fibo level target .

Doomprophet

as we see from four hour chart , gold has break its ascending channel and now is in the descending channel that has detested to its top . also from the daily and one hour chart we see the gold has admited to place under the ichimuko cloud and its first target for falling is fibo 0.5 level (1892) . only if it can break its descending channel strongly then we can...

Doomprophet

in for hour timeframe we can see the price is on the resistance and the descending channel top , so we look for a short signal with the fibo 0.236 level (123.418) . if it breaks up the resistance we can look for a long signal .

Doomprophet

it seems that it can not break the descending channel top and move down to the lower fibo level . there is a strong resistance on fibo 0.786 level (1.187) . if it can break up this resistance we can look for the long signal.

Doomprophet

the descending channel resistance now is the ascending channel support for this pair and detests to this support , so we can open a long position with good risk to reward rati and the channel top target .

Doomprophet

as we see from the daily chart it may have a upward movement to the descending channel top and then detests and fall sharply with fibo 0 level target .

Doomprophet

as we see in the daily chart , it may detest to the descending channel top and fibo 0.5 level . in the lower timeframes if we have see a bearish sign we can open a good sell with a good risk to reward ratio and fibo 0.236 level target .

Doomprophet

as we see from the daily chart , it is close to a great resistance fibo level and the descending channel top , we can open a nice short position if the price reaches the fibo 0.618 level around (0.914 - 0.915) with a appropriate risk to reward ratio . if we have retest from fibo 0.5 level we can make a sell there too with fibo 0.236 level target . for now we...

Doomprophet

after gold could break its uptrend channel now it flows on his downward path , as we see the fibo 0.618(1935) level is a great enemy of its upgoing movements and also the downtrend channel top is another enemy . also in one and four hour timeframes we can see that buyers strengh is exausting and that's another sign of falling in gold . two possible scenarios:...

Doomprophet

as we see dxy has a strong support on the red fibo line in the daily chart , it's clear we had several fake break outs on this support line . two scenarios are possible in my veiw : 1.the last break out is fake and it will go up to the channle's top and then fall sharply or can break the resistance channel's top . 2. it will break the support line massively and ...