Gold formed a potential cup and handle pattern. Price break out of the handle, which is also a bullish flag and close above measured high. Therefore taking long positions should be safe now. The final target (1272) is the same price range as the initial bullish wave and represents 161.80% of Fibonacci extension. The price may also re-test 1120 (from 1230) several...
Getting ready for a long-term run with potential Sell entry around 1.0826-1.0860 and a final target 1.00.
Price climbed above 51.60 and is holding its position for 7 weeks. If this horizontal support will not be broken, price may go ahead to 55.00 and 60.00. (This is a long-term view for trend determination)
Short gold. 3 potential targets are indicated in the chart.
Sell USDCAD when price break the channel, otherwise go with the flow and sell from high (possible one more move up).
Just sharing my chart without any action yet. Price shifted aside from descending channel and is now testing 200 MA. Overall trend is bearish.
Crude Oil failed to break 54. Next move can be down to 52.40-51.60.
Goodbye 2016! Wishing you happy new year 2017 with many good decisions and a lot of profitable pips!
Getting ready to enter Long, if 51,60 will hold the uptrend (at approx. MA 100).
Some predictions for the future setups. What do you think about possible Head and shoulders pattern, if price hit 1210-1200?
Getting ready to short again. Consistent with long-term downtrend and possible FED rate hike (December 14). TP: 0,7180