testing now a double bottom area and just breaking it this might play a role with psychology taking the first move to the first high and then if we break holding this trade to the next high
so kept this clean as you can see how current price is after breaking this daily trend and price has re tested this area i will now wait for the first drop and wait for more continuation before placing my order be patience and wait for the right time!
so this is looking interesting weekly time frame looks very nice and looking at the current price action this is looking more likely to drop very soon, on the lower time frames price is coming to a big double top area but being aware this can move higher as seen but understanding this could go early with how this is showing at the moment keep your eyes on this!
after just breaking a double top area and re grabbing a few more orders i will now wait to see if we break this trend and then wait for confirmation for either a bearish breakout or breaking new Lows then i will be interested keep your eyes on this!
after some strong momentum and breaking new lows i will now wait for either a clear flag or wedge or a pull back to confirm the next move or any FIB levels
so as seen this could now rise from this double bottom area as this has been tested a few times or we break and still have more bearish movement but the better high value area would be on the 2nd support level that would be the better long but understanding this doesn't have to get there!
so just have a look right at both price bars and ask yourself at this current moment do you really think gold is still gonna move higher ? yes might creep up a little bit more but this does show more signs for moving lower again at some point in time my overall bias for gold is to move higher eventually but i cant see this happening anytime soon and just look at...
so this is coming to a key level now just taking a looking at price 2 ways this could go we either rejection soon for that 3rd touch and drop or just push a bit higher for the better trading setup at the outer structure as you can see here this would be the better trade but understanding this could just break above and drop straight out lets see
after breaking a double top and getting some good bearish momentum and breaking a new trend i will now wait for either a retest or the counter trend IE flag or wedge to confirm my next move or we reject from any fib levels still has some nice RRR in this trade just wait for the right time don't rush a trade!
now as we know the higher time frames show more direction with price this at some point will have some great buying power eventually but being aware this can still drop lower to areas i would say around 1.08803 but my overall bias is long but still has room to drop before the long term buy with this pair! but i could be completely room and we just tank down but...
this pair is looking very clean with how price action has devolved, key for this trade is how the momentum has changed direction now can this go lower yes course it can but this isn't fair away from the outer structure be aware of that but this could be a nice long play with this trade and filter the lower time frames for any key overrides this is showing more as...
just a higher time frame overlook like i said if we break then i will wait for the correction below if we have enough RRR if we dont break then i won't be trading this pair
so this showing so really strong bearish momentum now we're getting to a daily support zone but if we break below then i will take this sort and wait for the next correction as you can see in this picture 1.3 to the bottom of the 90 % rule this needs to break with good movement first don't just place this trade wait first!
so adjusting once again patterns within patterns and just looking at price action and now a few options what can happen here but this is my go to set up if we start to fall like this with slow momentum and starts showing any indication that price could be turning around i will check the lower time frames for an entry
so just looking at the current price action with gold and this looks to be hitting a support zone this is why we're bouncing but we have broken new Lows, this doesn't mean we 100% have to drop but this looks more likely to fall before the rising again this is a little breakdown on what i see could happen with gold always have 2 outcomes this wont come as a shock...
theres 2 setup here on gold we either come back for a 3 touch and drop or we get the hover on the bottom of that trend line and drop out taking this to the bottom of the structure
looks a nice setup keep it short and simple if we break this trend this will then instrest me for a short either we wait for the retest and then go short or set an order up for the next drop as this is a RRE but again i will say if we dont break then this trade might be invalid
this is the daily time frame now looking just at price action alone looks very interesting right seen in this picture 2 price bars pulled out the charts and would you agree they look the same ? now on the higher time frames show more direction with price but this doesn't mean that this cant just go straight through current price but adding with breaking this...