A brief gold yearly setup strategy. I would really like you guys to live some comment and tell what do you think. I'm not an expert of the harmonic patterns but I like to focus on simplicity and price action....
Hi all, last week before the rising wedge ( which is failed eventually) I said the gold can even reach 1275 as a first target and depends how fast to get there might be even above, so now at 1282... BUT I don't expect more.
I think the time is around when the price will turn back.
...posted a chart before about how far the bull can go before drop...well if this rising wedge formation is correct than might be not even 1270 but 1268!!!
Now I'm watching closely my long to quit before the price drop
Hi all, I still keep my long position (re)opened at 1254 and try to manage according fib retracement.
First TP 1275-77
I know many ppl waiting for short and by the time it will come... but till then, patience!
Hi all, a little hope for those who believe sp500 weakness coming soon. the past two daily closing candle (doji and hanging man) gives an opportunity to go short with a really good riks-reward ratio!!!
Hi all, posted chart few days ago, seem everything going according to the plan... swing trade, the TP is still the same but might be to late to go short. For those who want short wait for a bounce back and short than.
gbp/cad offer a good risk-reward ratio trend following opportunity. not much to expalin, have a look the chart. I would wait for better entry for short position at 1.8346 area, but even now it can be worth it.
Hi guys, I see many of us expect some bull movement and it's make sense, but when and where to place that long entry?! On the chart we can see the triangle BUT i think this case that gonna generate a fakeout!!! above 1260 I will be more confident until I'm on the side....
If the price come back to 1252 I will place a small long.
Good luck all
I think who believe sp500 weakness and waiting for trend change has to wait till Sep-Nov according this rising wedge formation....but for short time traders and swing traders there is an excellent opportunity to place short as the price is at the upper channel BUT lets wait for the next candle how it close. Risk-reward ratio is really good but just till...
After gold reached 75% retracement now time to go up (but just till limited time and prize). Risk-reward ratio actually quite good, (specially if you place long before ECB conference). SL place at 1239 and target is 1288-1290 might be happening tomorrow at NFP and than the Bear will come back next week. Definitely we will see triple bottom in the next two weeks...