If the price falls out of the channel it is really bearish, from here I prefer staying out.
I believe Crude Oil is ready for a long because of the arguments below. Personally I don't have a strict TP, but if price drops out of the flag this scenario might get invalidated.
1. I believe this is the right channel we are trading in, every time the...
FULL target hit. Looking back for a long now.
NGAS met heavey resistance we have a bearish divergence in RSI and MACD, looks like it is going to retrace some, before further upmovement.
The blue line looks like a level to respect in my opinion, because of the double bottom it made there and from there it went steeply up.
I was expecting this pair to breakout, but then I missed my entry. This made me upset and did some further analysis, that was the moment when I saw this breakout is a false one. Because of the bearish divergence on the 4h TF and the resistance is met in fibonacci Pivots.
When I saw this i zoomed out to the bigger picture, daily and weekly.
Daily showed me this...
Target almost hit! Looking for 1160-1170 area from here. 1160 is a level to watch closely for this year!
Gold is completing an ABCD-pattern here. Once this is finished we have a big H&S, which could offer us a lower low for this year. From that point it will be even more bullish, take a look at my previous analysis on gold for more explanation on it.
The chart shows we had a clear breakout, this can be a first trigger of what might happen. If the FOMC doesn't raise interest rate tonight which is highly possible, GOLD will rise at lest to 1225 before meeting resistance again.
Currently it is in consolidation phase, so don't cheat on yourself and exit your short strategies in time!
Currently USOIL is doing complete the opposite of what most of us would have expect from it. But still I see room to go down before the big launch. In the daily timeframe we can see we are in a big channel, with a smaller channel that is in my opinion a bearflag.
In that smaller channel we had/have a rising wedge, which at the moment is behaving the same as a...
This pair finished the WW pattern and came back from the sweet-area. The triangle is broken and first target I'm aiming for will be the yellow arrow, second target the orange arrow.
Thumbs up if you like! Wish you a happy and safe trade.
This pair did something most of us didn't expect it to do. So I consider this trade as invalid from this point of on.
It's about time to short this pair before going long. Chart speaks for itself, keep your risk and money managed. That's the most important part of the whole trading game ^_^
Most of you guys have seen my larger timeframe charts already. I like bigger pictures that show the direction we might go up to clearly.
From my point of view and what the chart is telling me we might be bottomed soon. I can see a massive long about to come on this EURUSD-pair, the main trend is still bullish since the early 90's. I expect this channel bottom to...
Since there are not many XAGUSD charts, I decided to post my view. Chart speaks for itself, falling wedge at perfect fib-levels. We could see a big move at a breakout from the wedge.
Stay tuned, thumbs up if you like ^_^
If the DXY decides to fall, I expect gold to change of trend. Actually the trend has been rising since before the 2000. So it might continue the trend.
Last fall from 1900 has a fib-retracement which might have been completed or will be completd at 1156 area. So call me crazy but I think this is going to be a start of a new bullish season for the XAUUSD...
The DXY has an overbought RSI in the weekly and monthly. Also there is a hidden bearish divergence. Last resistance was met on 100.42 that was also the kiss of the upperchannel.
Last high was met at fib 0.618 level of the retracement from the fall of 2002. I expect it to become bearish from here, but soon we will know..
We are at a point where the downtrend might come to an end. Personally I expect a bounce from the lower channel. But a fall below the lower channel can open the floor and then we might see parity or even lower.
My advice for the moment is to stay out untill we get a clear sign.
14th April UPDATE:
SHORT activated, price fallen out of the trendline channel and wolfe pattern couldn't be completed.
Looks still very bearish, dollar is gaining more power than it already had. That's a bearish sign for the xauusd pair.
Gold price has fallen out of the channel in the beginning of March. Now the lower band of the triangle act as...