We are getting an Extension of the fifth wave on the 4 hr and price is making an ascending wedge reversal and it is divergent with MACD. This is telling me to look for short positions rather than long on smaller timeframes.
It appears buyers are stepping into the market. waiting for price to get back to the bottom. for nice long position if we get signal on lower timeframe.
This trade came to a great spot and gave us a beautiful engulfing candle. I will look to take this to the bottom of this pattern and further if it breaks down.
Watching for sell on 15 min timeframe. P
Price action in this area indicates reversal, although candles are not huge because this pair moves slowly.
Would like to see clean break and correction on 15 min to trade the next leg down.
Same outlook as before. No buy or sell yet for me yet. I exited my sell last week (could've held a little longer). Would like to let it get to bottom or top of channel before adding USD to my portfolio again.
Buyers have shown interest in GBP over past two weeks. Expecting the trend to continue. We are very close to the bottom on higher time frames.
Waiting for price to reach bottom of correction or reach trendline.
I still believe there is upside potential for gold, however, I believe the next move is to complete this correction on the Daily TF. We have strong bearish candles within this correction, potential for a longer term sell exists at these levels as well.
