faris.makki

faris.makki Updated 

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 Stop Loss:...

faris.makki Updated 

Fundamentals weakening. Negative divergence on daily chart. Investors likely to pull out. Short on breakout. good RR.

faris.makki Updated 

Positive divergence and oversold. Price likely to rise especially due to DXY high chance of pullback. Buy the breakout or at 1247. TP 1299. SL 1229

faris.makki Updated 

Technicals are improving, expecting first impulse wave upwards.

faris.makki Updated 

Double top at 46.5 sends oil down, triggered by Saudi oil production freeze deal high probability of failure. From elliot perspective this could be described as impulse wave 1, assuming this is wave one, the retracement is likely to occur at 0.5 fib of the move, given the oversold RSI on the 60m chart, we are likely to find an entry at 45.35. Wave 3 should be the...

faris.makki Updated 

MACD cross over and oversold RSI at strong support level at 1300-1310. along with inverse head and shoulder pattern forming. Expecting a move to 1380 minimum if pattern is completed, especially with uncertainty in risky assets.

faris.makki Updated 

Positive divergence spotted on all 3 indicators + near Fibonacci and support cluster. + inverse H&S spotted on MACD 1H tf, expecting pullback to at least 0.786, quick long position will be closed at that point, then will wait for golden fib 0.618 which coincides with key level (44.6-44.7) and hopefully short it to support of current flag pattern at fib extension...

faris.makki Updated 

Oversold indicators, bullish divergence and strong support at this level. Also expecting US dollar to consolidate which will help drive up gold higher and possibly even oil. Entry 1305 TP 1335 SL 1297

faris.makki

Improving technicals, Good support found. YEN likely to decline from deliberate government intervention (to protect exporting companies). Also possible inverse head and shoulders.

faris.makki Updated 

Oversold RSI, Bearish harmonic pattern. declining MAC D and KST. TP: 43.4 else main uptrend line for safety

faris.makki Updated 

I'm not convinced by this bull run. I think stocks are overvalued overall and the fundamentals are weak. I believe this month and/or next month will be a very bearish one. Honestly I expect to see a full crash sometime very soon. But I won't call the top without sufficient evidence.

faris.makki Updated 

Reversal

faris.makki Updated 

Negative divergence printed already in all 3 indicators, approaching strong resistance (45.8)

faris.makki

Perfect scalp before the weekend. Sorry I didn't post this earlier

faris.makki Updated 

Bull harmonic price pattern. Oversold indicators + support holding. Also I'm bearish on stocks, Gold tends to go in opposite direction, in that sense there is more weight to the evidence. Entry 1335 TP1: 1356 TP2: 1363 SL: 1327 It's likely to go higher than that so we will see how it plays out and find another entry.

faris.makki Updated 

Watch out for negative divergence. Oversold RSI and strong resistance at this level. Weak fundamentals. Will post update when price reaches action point.

faris.makki Updated 

Short-covering bull run almost over. Waiting for high to short the possible reversal. Will look out for negative divergence (price vs. RSI) to support the short decision. Will review if/when price reaches action point.

faris.makki Updated 

Declining RSI (14). Strong resistance. MacD and K.S.T. (Know Sure Thing) about to cross. Weak fundamentals