I am anticipating that Gold will slowly make its way towards the downside trend line, aligning with fib retracement and heads and shoulders formation. I believe the trade talks between USA and China between 10-11 Oct. We may experience price manipulation (fake breakout of structure), price shift up and touch daily high of 1423, before falling down.
Nice reversal formation, aligning with downside trend line and fib retracement. Target set from weekly timeframe, target to next point of weekly res at 1444.
heads n shoulder formation, fib retracement fulfilled. TP 1 to upside trend line, if price breaks through then TP 2 at 0.98500
Analysis Aligned with my confirmations: - Simple HL and LL formation - Major Daily Support level 1495 to now be a resistance level - new LL aligning with 61.8% fib retracement and double candle rejection.
long anywhere from the highlighted region, personally looking for price to dip into the lower area of the box for better entry.
IF price breaks the neckline, pulls back and finds resistances, then I will be placing my 3rd short entry on this pair.
Simple Elliott wave, expecting a higher high to form. this analysis will be invalid if structure is broken by price breaking back and closing below the previous higher low. 30 pip stop loss, great risk to reward ratio. Target, 1.4500
new Higher highs and higher lows forming. Keeping it simple.
This pair is currently making Higher highs and Higher Lows, I do believe that the pair is making its final push to the upside before making the real move to the downside. The pair must break this trend structure in order to fall down and hit the profit targets.
I am anticipating price to make a pull back to 11600 (blue highlighted box) from either the current price or from the neck line (yellow highlighted area), before heading up towards the 13000 and 13750 region.
By observing the H4 time frame, we can see that a strong and accurate wedge has formed, price currently much respecting the trend line and I am firmly favoring a downside fall. However, to confirm the short of this pair price must break the H1 wedge pattern, if wedge holds strongly and rejects the price short we can expect the price to touch one last time to the...
On the Weekly time frame it is clear to see a clean down trend, continuously created Lower Highs (LH), currently the trend line has held itself strong as price got rejected from breaking. Switching to the Daily frame, there had been a perfect daily bar closer from the trend line and fallen, also with the 50% fib retracement aligning perfectly with the trend line....
Looking at the weekly frames, can clearly see it has a formed a clean (even though there had been fake outs) and precise wedge, currently waiting for the price to tap into the 'empty highlighted area', where it has been aligned with the trend line and the monthly key level. what will invalidate this idea is if the price breaks out of both the trend line and the...