richardli77

richardli77

Market has been consolidating this week so far - investors awaiting US CPI data later today. Technically Gold seems to be completing the 5th wave of the ABC correction seen on the 4hr chart along with testing the 88.6% Fibonacci level yesterday. We have now liquidated today's Asia session high and now rolling over. I am currently running a short position based on...

richardli77

As shown on the chart, I am taking this bullish view on XLM and the cryptomarket in general - as you can see on the monthly chart we have just tapped into a monthly order block and rejected from 50% retracement of the candle of the order block. I will take the first month as indecision and this month as bullish confirmation as we go into April - I am seeing some...

richardli77

Update I want to draw your attention to the previous heavy drop in gold - we could be repeating this pattern as we had our initial bounce - see chart for more details The price initially found a floor at 1900 - however back in July, the first bounce was taken out before the real correction started - I am looking for one more drop before a decent move upwards to...

richardli77

Update to my previous idea - gold has been crawling up slowly currently looks like its correcting here for another leg up. However, with it being Friday I wouldn't be surprised if we see a sudden move in either direction. Any dip towards the 1920 - 1930 area could be a good opportunity for some buys - I also like to use the xau/xag correlation to better time my...

richardli77

After the much anticipated fed hike today, gold seems to have found buyers from 1900 and we could be in for some much needed correction from this crazy move these weeks! Looking back to June 2021 (the last sharp selloff), we have replicated the wave (pip-wise) and could be in for some sort of similar correction (see chart) not a signal but have another look if...

richardli77

Adding onto my other idea, This is the bottom trendline and area I will watch for reactions from, and see if we get any bulls coming in around 1770 - 1790 too

richardli77

As we have closed below 1800 on the 15 minute chart with no signs of rejection I am looking for sells only, I have placed a sell limit at 1800 with stop loss based off 1 minute timeframe structure around 1803, not looking for any long positions until we break the 1780 lows or show signs of rejection on higher TF. After this 30 minute close we could see pull back...

richardli77

Price reacted very nicely from this order block I posted yesterday, running around 8% and its only tuesday! securing most profits here at the completion of the M formation and leaving some to run, hope someone else caught this with me!

richardli77 Updated 

If you know about institutional candles this is something to look for, daily uptrend but finding some weekly resistance at the highs. Last week closed doji so we could have a final push up to take out previous highs before swinging back down. Institutional candle = trapping sellers on the wrong side of the market before a strong push in the opposite direction (up)...