resistance 1960
support 1890,
on late rate hike cycle gold was trading at 1046
now it is trading at 1890. lets see what happened
long above 1960
short bellow 1880,90
rising wedge pattern
support 1760, 1721
resistance 1815, 1834, 1950
bullish above lower trend line
bearish on breakout of lower trend line
long on lower trend line tp 1877
short on retest of lower trend line after breakout. tp 1677
new entry
my entry only after breakout and retest of yellow box
long above 1811
short below 1771
old entry
breakout enter on retest of lower trend line
enter on retest and tp new lower low
this multi time frame analysis form h1 to monthly time frame from h4 to Monthly
H4 - price has breakout rising wedge pattern, ready to retest lower trend line and make new lower low
Daily - price has retest daily resistance after breakout , making sideway correction below resistance before making new lower low on h4
Monthly - if this month candle...
when price goes up they rising along trend line.
in bullish trend we buy on retest and take profit at previous high. repeat this process until trend line breaks
when trend line breaks when enter again on reset of trend line will sell entry with take profit new lower low
we have perfect example of trend line concept on h1 and H4 time frame with retest ,...
price has made its rising wedge chart pattern after downtrend from 1834
the whole trend was started from 1900 on June fomc
are hedge funds back to sell again for fomc taper announcement ?
are they insider seller for fed tapering announcement , selling gold from 1900, 1834 ?
based on price action and Elliott wave , (impulse correction impulse)
✔ trend started ...
price has made rising wedge pattern on 15 min time frame
breakout and retest of lower trend line continues its down trend than we have yellow support zone on daily time frame
