mytrade1602

mytrade1602 Updated 

Similar Pattern/Principle Analysis

mytrade1602 Updated 

Here is what I am seeing. Long from around 1275.

mytrade1602 Updated 

Let's see if this is going to be true.

mytrade1602 Updated 

Here is the my idea about the gold movement. 1338 is the key.

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Once the 1328 is broken, the possible gold movement.

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It seems that the retrace is done, gold goes on the bull cycle again: 1. bull flag 2. 0.382 Fib retrace similar as last wave 3. similar up-channel and down-channel intersection area, all of them show strong support. 4. RSI support.

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Gold EW waves and ABCD The key support position is 1244. If it has strong support. Gold will go to the D position(wave 3 of big EW, wave 5 of small EW).

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See the chart. 1210 area is the key support area. If support is confirmed, buy it up from 1200~1210 area.

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Gold EW waves. Suggested actions: If the price indicates the rejection from the 0.382 Fib level, short from 1260 area to 1220 area.

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February end Gold EW waves. 1260 area---> 1244--->1254--->1244--->1254---->1220

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Opposite process for the previous ping-pong actions.

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Gold is heading 1280 in the big ABCD Pattern. Also gold is standing up the daily cloud resistance again,also the 0.5 Fib, 1230. It's quite strong. Many expect gold fall from 1244, one of the key neckline resistance. I also thought that since the similar pattern as the one from 1220. But the resistance lines are different, the previous one(half) is much stronger....

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See the two areas, the latter one might repeat the previous one. They are both around the key line of the falling channel. In my idea, if breaking down 1220, gold will gold to 1205. If breaking up 1230, 1250 is in sight.

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The fall of gold is hard, it will go back to 1200 area. 1210 might not hold. Here is my view of the gold.

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Here is the prediction for the gold. Ignore the time frame.

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Gold Possible actions for next week. --->1230--->1220-->1240--->1230--->1236---->1220

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XAUUSD for next days. Gold is winding up, in my eye. -->1208--->1216--->1200---->1233

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XAUUSD ABCD Pattern for the beginning of February. Expecting gold to touch 1163. But before that, it will touch 1166(around 0.5 of the Fib) and might touch 1181 again, then down. It's possible that gold will spike up to 1195~1196 and then spike down, it's a good idea to put the pre-position the short at 1195. Short from 1192~1195, TP1 1174, TP2 1166.