Hello traders ! Look at the linear 1 w gold chart, it says that gold is razer bearish then bullish
RSI is weakening. cross on MACD.
So I think that neckline was well distributed and XAU will fall hard.
So I think a fall is inevitable, even if the bulls take a new local high
Also you can check my previous forecasts about Gold below
I've waited patiently till the price has finally dropped to my level
For now -there is clearly visible ABC pattern (zigzag) on the chart
That means only one thing - that now we can consider new long positions ( for rebound ) so then i can short it again
Sorry for the excess dirt, this is my old trading plan
Ps. You can check my previous forecasts below
HERE IS MY REASONS WHY I SCREAM ABOUT ALTS , WHY I BELIVE IN ATL - SEASON LIKE FOX MALDER BELIEVED IN X - FILES hah )) AND WHY I"M BUYING IT :
1. Just retested resistance of the wedge and ready for free fall ( BTC dominance )
2. also there is HUGE bearish divergence on 1 M & 1 W charts
3. dominance will not be able to rise to the values of 2016 ( then...
Why it is worth considering only short -
1. A bearish wedge on daily chart
2. confirmed by HUGE triple divergence
3. very strong overbought
4. all fibonacci levels are traded
5. closing of the week
6. closing of the month.
7. yesterday we saw classic bull trap with pennant breaking ...
Hi everyone !, we almost reached the goals from my previous forecast, watch it below.
And for now this means only one thing - we need to roll over to look for sale points
As you can see - we're almost reached 1478 point ( 50 % fibo ) and this is one of the first reliable point for sale
Rollback from there seems to me very likely, so i just starting to short...