- Forming a head and shoulders pattern with the neckline at 1.35
- Price broke below the 233 period VWEMA, came back retested and rejected it
- Price rejected the 1.37 even within the 50 - 618 retrace level
- Trend RSI broke and has stayed below the 50% level
- Major support was broken a few weeks back
- Price has since came back to...
- Double top on H1 broke the valley low
- H4 "double top" was strong rejection candles with long top wicks
- hit previous structure level on the 4 hour chart
- Moved back up to retest the valley support, now acting as resistance
- Doji candle printed on both H1 and H4 at resistance
- High volume bars on the most recent move down off our highs
- RSI was heavily...
Entered into shorts:
- Trend line and structure resistance
- High volume at previous stated levels hinting at sellers suppressing prices
- Broke minor uptrend
- Price between 618 and 786 retrace
- Monthly pivot point
- RSI and MACD divergence
- Double top will be confirmed when it breaks the valley
Gold is looking more and more everyday as if it wants to fall. A nice looking double top is beginning to form on the weekly chart.. still early and not confirmed yet, but definitely something to begin watching. More aggressive traders may want to start entering small positions at this point, if we break 1450 the pattern will be completed and additional positions...
Historically we can see here that Gold has outperformed in the months of December, January, and February. Looking at current TA on multiple timeframes and Fundamental factors underpinning price, this year should be no different.
Fundamentals are coming out strong for bull momentum with lack of positive trade negotiations and added fuel to the fire with the bill set by President Trump for Hong Kong Protestors and further restrictions on Huawei citing national security concerns. Additional tariffs to be struck on December 15th with China saying that and past tariffs must be removed to...
Based on a weekly and monthly view of this pair, the previous range it traded in was 1150 - 1350 a troy ounce. We have since broken that range and moved up 200 dollars to the 1550 level. Now based on the 200 dollar range it traded in before for roughly 6 years, I believe the market will now trade in the 1350 - 1550 price range. Looking at the daily chart, there is...
1. Nice Structure level
2. 618 Retracement
3. Top of Channel
4. Monthly Fib R3
5. Daily Bearish Engulfing
Don't expect a full reversal for now, but a move down to the 50% with structure confluence is looking probable.
Here is a mix of all Cad pairs with the Major currencies.
We can see multiple touches and a fake-out on the structure zone at the 618 retracement level.
The 618 from the most recent leg has shown signs of reversals signalling a possible first target.
Next level if that breaks would be the 100% retracement and then the -0.272 level where price has hit structure...
Good news for oil was released on Friday about output cuts to reduce supply and bring up prices.
Lower TF here we see price broke above bottom rand and is now in a higher range, I am expecting price to break that level this week.
- Major Resistance
- Triple Top with lower highs
- Bearish engulfing candle
- Down to 618 retracement, possibly even full 100% retrace based on structure further on chart...
- Price looking to revert back to the 200 Week EMA
- All 3 other indicators signalling sells as well
- Fed member Bullard suggests delaying December rate hike,...
- We are currently at a structure level that has seen price reaction that has caused price to reverse for long periods of time and has ranged between this
resistance level and support level at the bottom of the potential Head and Shoulders pattern. These structure levels also have a very high confluence with
the Fibonacci levels as well
- Looking deeper...
This pair gave us 2 weeks worth of indecision candles at the top of this wedge pattern signalling that sellers have entered and buyers are losing strength.
Current trend has produced 3 lower highs and 2 lower lows. Next we should be expecting a 3rd lower low.
100 SMA has just crossed over the 200 SMA to the downside adding confirmation of long-term trend...