mahyar1986

mahyar1986

its clear as i drew..

mahyar1986

THE RED LINE ABOVE is the our target to decide what to do for our next move..its very important line,ITS RIGHT TIME AND RIGHT RESISTANCE

mahyar1986

in chart can be seen

mahyar1986

i think we must expect a short correction before rising again and break the resistance line above you can have SELL position now at least until the 0.50 Fibonacci retracement.

mahyar1986

i think we could expect the gold to fall after it touche the major down trend,other wise it must break it through with power and then the game is changed

mahyar1986

every things clear, after double tap,it went up to make a higher high which can be a signal to long...but still there is small chance to break down

mahyar1986

we have down trend as our previous upward trend has finished its journey( Fibonacci time) now before we get whole down trend profit,we better get it step by step

mahyar1986

as you see beside the up trend we have,we also have a RANGE channel as well from the price 0.76943 and 0.78158 there is a potential to keep going by the RANGE but because i can see the high intention of SELLER in a short period of time,it would probably break the trend and fall. but because it couldn't make the higher high in upward trend and it went through a...

mahyar1986

ITS MORE LIKELY TO FALL for 2 reason: 1-on upward trend,the buyers had almost 12 days (100 and 160 fibo time) to make a higher high but they couldn't 2. for three time attempts,they couldn't break through the resistance line(0.8719) how ever it's upward trend but if ever it breaks the resistance line above,then wait for pull back and then open long position but i...

mahyar1986

as i drew,i have the line of 78.6 fibonacci from the long trend number(1)(3) and the line of 88.6 from the trend (2)(3) both of them are making a good zone,the candles couldn't break through for three times attempt so in a certain time we have given the buyers didn't have the power the make a higher high..now it's time at least to fall untill the fibonacci levels...

mahyar1986

AS WE SEE WE HAD UPWARD PITCHFORK THAT THE candles touched the middle line as it couldn't make the higher high and gave us us signal of buyer weakness,and it came to the second pitchfork and i expect it comes atleast up to the middle line of the second pitchfork

mahyar1986

after the previous down trend touched the supporting line of 1.17055,we had upward trend started as it could be possibly a new upward trend or the correction of the previous trend,to make sure about it i used 3 fibo time indicator which showed the vertical line as you can see which is exactly the same time of our previous down trend to see if the buyer have the...

mahyar1986

the whole scenario is we have upward trend from the double tab on 1680 support line,and it came up almost to 1800 resistance line and now we have a flag that can show the next move of the candles as i showed..if it breaks the upper line of the flag then we expect it that the trend will continue up to 1847,otherwise if it would break the 1759 supporting line then...