JetSpark

JetSpark Updated 

impulses are counted with 1-2-3-4-5 and leg 1 or 3 or 5 must be the longest, in this case we have leg 3 as longest, "if" leg 5 stops as the same size as leg 1 will allways retrace at least to the 4th leg and depends on the trend of the begger timeframe this could retrace to 61.8 fibonacci and allso to the beginning of the impulse.

JetSpark

I do not use supply and demand as area of trade, i use trend lines as area, today 15 september trend has just broke secondary trend area, for me this means gold has choosed to go on the downtrend, and by measuring the first area i see that gold has made the same size on the second area wich make me believe the third are will be exactly the same with target at 1575

JetSpark

while gold was at 1720 i was wandering where it will go next, than there was a 3rd wave impulse at 29august ended on 30 august wich had a weak 5th leg, that means there is a bigger problem on a bigger timeframe, probably reason: going against downtrend, that was a new clue and now it is verified.

JetSpark

Gold on the middle to choose side, very risky to enter a trade now, better wait.

JetSpark

bullish trend strong, but every pump has to take a deep breath, so i am expecting price to go to 1770 at least before drop to test the bigger down trend. big money incoming!!!

JetSpark

it has been and it will allways be better to trade based on trends and the easiest way to draw trend lines is on the top left on your chart on the "trend lines tools" you will find a tool called "regression tool" try it yu'll love it, Trade every trends!!!

JetSpark

to understand where to buy or sell you must first understund the current phase you came in, the worst place will be to come in on the panic phase, so be sure not to enter trades in this phase if you want to do a long term investment, you could still sell, but... what if it drop's? the accumulation will be short so you will probably enter on the participation phase.

JetSpark

it's important for traders to understand the direction of the price, the very basic of doing it is to first draw trend lines, there is no wrong or correct, there is only hight and low.

JetSpark

Golden bear allmost over, bulls will gain strength soon be ready for it, strong trends allways gives a strong swing!

JetSpark

bearish trend started, expecting 1750, was the hight of 8 july, no courage to buy now... brrr

JetSpark

No more bulls trends on the orizon, berish season open, be ready for the "Big Dump"

JetSpark

it's clear that the non farm hour at august 5 resetted the present support and resistance, height at 1778 and low at 1771, so until the new and clear trend is formed the funniest way to play on consolidation will be to try catch a few dollars between this new support and resistance.

JetSpark

xauus is hot again after firstfail to break 1788 it's now at 1789 but a divergent is forming, so be carefull if you are bullish it may have a strong pullback

JetSpark

EIGHTCAP:XAUUSD gold long term trend down is continuing, after touching trendline at 1788 it did not breakout and had a pullback to sma 100 in h1 and also strong hedge at 1747 before a pullback to retest the short term top and the long term trend, from there if it can not breacj the trend it will continue for a long bottom.