XAUUSD is insisting on forming BROADENING TOP, the points from 1-4 already formed on the wedge, and the decision to go long or short will depend on point 5. If the price break the wedge up, most likely the price will reach 1450. but if it reverse at point 5, and break the wedge from the bottom, it will go down to 1060. I strongly believe it will turn down after...
Is it a Crab Pattern, or contracting wedge. The answer is I can not tell now? but in both cases I think the price will be reflected from the lower edge of the wedge. It is more important to watch the price around the crossing point of the upper edge (point e). I personally believe it will cross the upper edge and complete the Crab Pattern. Let us see what is...
In reference to XAUUSD falling, for the coming 5-6 weeks, NUGT is forming the forth leg of BAT or CRAB patterns, Most probably CRAB. I would keep an eye on the four targets. Tp1 almost met. My best educated guess is that DUST will reach 20$< Just above the point X You may want to hold SHORTING NUGT at least until end of June, early July. Let us see how the price...
Looking into the long term, and specifically when the %K and D% crossed in their way below -80, The %R reverse under -80, I think the gold will go down to 1095 by the end of July, or early Aug. More precise timing of the exit can be established by D or 60 curves later on. In conclusion, if you are in the gold business, it is time to short for the coming 3 months....
We have a BUTTERFLY, I think it will catch 1.30 very soon.
If you are on the ride down, then good luck, I think it is a long run down. I would say TP1= 0.88243 TP2=0.85152 TP3=0.83521 I do not see it going below 0.83521 By the way, I am not riding this ride down unfortunately, but thought to share with those who are going to the valley.
Looking in the long term of USDCAD, there is a repeated pattern, 15 weeks USD weakening, the several monthes of getting stronger. I would go Long with USDCAD, if considering long term. Of course shorter terms will show ups and downs, So if you are a daily trader or a short term trader, this curves may not bet the best for you. but I am 95% sure that for the...