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the structure resisted well to price each time they confront each other (price with structure acting as a support or a resistance), bounces were strong. looks like a very strong bullish signal.
aiming for the last high
this idea is correlated with GBPUSD and is to enter now but don't take the sterling trade for the moment (follow the plan)
wait for brice to break frankly this resistance and pullback to it (with rejection) to confirm it become support before entering long and aiming for the last high
of course on't forget to take profit at 1:2 like always
we can continue to short based on the last idea, this trade looks like a nice sell high
waiting for confirmation before entering. maybe it'll fall before touching the box, maybe it'll touch it then fall so pay attention to price action right now
and neckline broken
the neckline is important because it's a psychological level. H&S have 85% winning rate and added to a psychological level neckline that should be an insane winning rate
let's short by using the inside bar breaking down
Observing the chart price formed a bearish harmonic on a consequent resistance and gaped down confirming the trend change. Macd volume are beginning to turn bearish and lines crossed.
Fundamentally, we have a problem with OIL because offer exceed demand at a crazy rate.
The demand for oil decreased signifanctly due to global quarantine (no one go to...
confluence is a method used for having an edge on the market (advantage over others traders) based on high probability winning rate
in this case we used 2 types of resistance:
that provide us the best point entry possible for a trend continuation setup
short from here enjoying the...
the plan is to :
Find a first entry in lower TF
then when price break and pullback reshort
aim for 0.618 first and look at price reaction on this zone if it can break the low the bear flag will be validated so third entry
price give us a nice opportonuty to short now with that harmonic on the 786 fib.
after this strong fall and now the pullback was strong as the fall. but price can't continue like this. this is exceptional movement for gold (moving in all the way with this speed).
That could be the temporary top that we have waited for several months.
expect the price...