Expecting to enter a sell position after gold attempts to make one last move to the upside.
I'm bearish on gold because in my opinion gold is overextended, looking at the larger time frames (weekly and monthly). Gold had a massive push to the upside now it's time to sell off some of that and this current retracement explains the bearish movement.
Price has been moving in a down trend the previous days.
Now with the new low price has formed, and a break of the previous low, I am expecting price to make a retracement and ultimately form another lower high.
Once price broke past the previous low and closed outside of the trend line, price found support at the demand level.
If you move to the 4...
Eurjpy has been a strong uptrend lately. The catalyst to this strong move to the upside was the Inverse head and shoulder that formed.
Price broke the neckline of the IHS which also served as a level of resistance. Because price broke this level, it will now serve as support.
The break of the neckline caused price to create a new high (or higher high).
Expecting to see some bullish movement of the AUD in the upcoming trading week.
Price formed a double top, then made a bearish impulse breaking the previous low (which is now acting as the neckline of the double top).
Price then found support at the 50.0 fib level completing the bearish impulse and formed a double bottom. This double bottom formation was...
Once price made it's last push to the upside, it made the bearish impulse as expected. I was looking for price to make one last bullish impulse, then create a bearish candlestick formation before entering a sell. Check out the previous analysis below:
Check out the previous analysis (BEFORE) below... I also posted the link to the analysis.
Price made the bearish impulse as expected, I may have entered a sell too early, but my overall market sentiment was right.
Analysis published on Oct. 19
Price made the bullish move as expected (see previous analysis below). My overall bias on gold is bearish still, so once gold meet resistance and form a bearish candlestick pattern I will enter a sell.
Expecting KO to make a bullish impulse.
Price made a strong bearish move to the downside, found support and created a double bottom, which shows that price may be ready to change directions.
On the 4h time frame you can see a large bullish candle created after the previous indecision candle.
Price broke past the previous low ultimately creating a new one. Now,...
Gold has formed a double bottom and price has retest the neckline. An impulse move should be expected.
With the formation of the double bottom price has also created a new low, it may be safe to expect price to retrace and test the previous low and possibly meet resistance and continue the bearish trend.
My long term bias for the DXY is bullish. But a decent short opportunity is present.
First price created made a move to the downside into my demand zone and found support, ultimately creating a double bottom.
Price then made a bullish impulse to complete the double bottom, and now it appears that it may be overextended. When price create a double bottom,...
As you can see my overall longterm bias for AUDJPY is bearish. But im expecting a push to the upside, before the next drop.
Price created a new low, and now im expecting price to retrace and test the previous low, meeting resistance then create a bearish continuation move to the downside. Bear