It appears that gold is near the end of a simple looking ABC correction, which is likely to end at around $1313. Or could extend to the previous low near $1300 and begin the rally from there.
My long term target for gold is much higher, due to both technical and fundamental reasons, than the target for this particular trade. (So I may have a bullish bias)
Positive divergence indicating the move down decelerating, as the price corrects 78.6% of the initial move.
Also it appears AU has formed a bullish harmonic pattern, indicating a continuation upwards.
It appears as if the USD is beginning to weaken against other currencies as well, therefore I believe it's a good time to be long AU.
Target 0.78 minimum
Pretty risky bet, but I think I can see this working well.
Expecting UC to continue corrective wave C to the downside.
Entry, exit and take profit are all on chart. Although you may prefer to enter after the small uptrend breaks down first, I will attempt to sell on the the fibonacci 0.5 and add when it breaks.
Enjoy and take care.
I believe Bitcoin could drop to recently lows around 2950 once more and test the previous low, which coincides with the trendline support. Also I can see a small inverse head and shoulders pattern forming in the small time-frames, I also believe that if this pattern were to valid, the target would also be near 2950-3000.
In addition, I see that cryptocurrencies...
GJ setting up for a good risk/reward long soon, maybe a little too late for it but let's see if we can catch the absolute bottom again with this one.
RSI is improving while the price is dropping (bullish divergence) which indicated the bears are losing steam and the likelihood of a move up has increased. In addition, it appears as if at that price GJ will form a...
Trade is clear, H&S close to resistance so likely possible, in line with alternate wave count also.
Not my usual style but will give it a go. Risk to reward ratio is not very good this time so will keep the position small.
Crude oil is very close to hitting a major trendline and strong support is expected there. Market is in clear consolidation mode as the MacD is stabilizing at centre. Besides this I can be certain that OPEC (as well as some non-opec members) won't allow this to persist for longer because the price is substantially below their objective. And finally the USD has...
Dax has recently broken out of a rising wedge which has been forming over the past months, it has managed to recover and is close to the lower part of the channel, currently in what seems to be a bullish pennant/flag in the 5m TF, which could send DAX to 12,060 before it begins to drop.
Trade with care.
Momentum improving. After extended wave 1 and corrective wave 2.. It appears as if wave 3 has already begun, a couple of buy points seems sound, if 141.8 - 142.0 is broken and daily closes above, buy. Or buy at the support level 140.0 or on the 200 MA retest, the choice depends on your risk appetite and if the market is generous enough to allow us to buy at the...
Bullish sentiment weakening. short the break of bullish trend line. TP is safe and modest right next to recent lows. Risk/Reward reasonable
Multiple approaches: 1) Short the break. 2) OR wait for consolidation of the new resistance after the break (safe) 3) short when 0.77071 (before or after breakout - high risk)
Take Profit: 0.75605