Gold dropped back to 1200 and may be an opportunity to go long.
Round top, pull back, bearish rally again. Possibly a course of action.
XAUUSD completed 0.886 geometric pattern and there may be two course of action at this time. 1. Wait pull back to trend line break and go long. 2. Wait dropping to B point and go long. See what happens!
The spread between BTCUSD and BTCCNY hit range high. This may imply the pair will drop further. Beware, Chinese new year is just around the corner and the price may be volatile beforehand.
BTCCNY bounced back at Yearly pivot point. IF down trend continues, 2620 will be a sell zone.
Simple trendline tells thousands of words...
XAUUSD reaching to a buy point that is 1085 - 1089 with 5-0 pattern completion.
Here is a 5-0 pattern completion coming up around 1090-1085. This may be a good chance to go long.
Reaching to the potential reversal zone.
BTCCNY is a leading indicator of BTCUSD. Now the bottom chart shows spread between BTCUSD - BTCCNY, and it clearly shows reversal formation at this time. And also, the trading volume is not catching up. Thus, it is still skeptical if BTCUSD breaks 470. I am a bit of bearish standpoint currently and may 380 +-20 is something that I see from the chart.
This is what I am looking for currently in a short time perspective.
There are 3 clues that USDJPY pair may break a floor targeting to 110 level. 1. Triangle break 2. Double top formation 3. Divergence. Yes they are all simple clues however within a forex market with huge number of market participant, simple idea may works better. See what happens. Here is a link to my video analyzing this; youtu.be