Bullish momentum on the H4 shows that a large bullish candle has closed above the 14 and 50 EMAs. Expecting a continuation of this bullish momentum within the coming week after possible retracing and hitting that 1.40265 price point area or the 14EMA. The minor support around 1.407 will be a signal on whether price continues moving upward from this point or breaks...
Gold is moving in an ascending triangle of sorts showing that it is close to reaching the top of a very key resistance area from which we can look for shorting opportunities.
It is possible that it may break this resistance area, so to be on the safe side I will be looking for rejection candles towards the top such as a strong doji or evening star candlestick...
The pair recently broke a long uptrend and has continued to fall since then. It has also reached a very strong horizontal resistance and support level which may determine the outcome for the pair. Assuming the resistance level holds the short bias will continue, however if it breaks this level then we could see a potential long opportunity up to the previously...
Broke uptrend and has begun falling from retracement after break.
Has crossed over with set EMA and SMA as well as having broken a smaller retracement channel.
Looking to target previous low around 13.2000
Broke a larger uptrend and still on the way down with sharp bearish momentum shown.
Also recently broke a short retracement channel which means it may be a good chance to enter a short in this pair, followed by a cross over on the 9,20 SMA and EMA .
Stop loss set above top of last retracement around the 81 price.
TP target is around 79, assuming it breaks...
GOLD has recently broken an ongoing uptrend and is currently on a retracement pathway which I believe is going to continue approximately to the 1279 price which has multiple trend-line as well as resistance level confluence. Positions on this will be long to the 1279 point and then a short once it reaches the top of the level and crosses over the EMA and SMA.
