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Here is a look at gold with Bollinger Volatility bands. In late December 2016 gold price made a move away from the lower Bollinger band and has last week touched the upper Bollinger band. Price reaction here was a quick movement away from the band, with close breaking the 1 SD upper band. This week price has tested the 1 SD band as resistance , and has moved...

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Here is a scenario for price of gold to move down 1. Pattern - consolidation within a wedge . 4 waves have completed , it may be possible the E wave is truncated. 2. Price Movement - there has been quite a strong movement away from a possible double top. 3. Fair Value - the longer term averages (100/200) sit around 1242. So reversion to the mean needs...

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.A long scenario for AUDNZD. Need to wait for 1. Wave structure - seen a minor wave 3 completed , and need for waves 4 and 5 to play out. 2. Intermediate Support level test- at 102.40 3. Test Further Pivot Support - price to move through S1 towards S2. 4. RSI to move back down well into the Oversold region. When the above has occurred some form of...

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Here is scenario to short EURAUD Reasons 1. Support and Resistance - the pair have come up against intermediate resistance and moved away. 2. Wave structure - possible wave 3 completed. 3. Moving Average Cross - the short term moving averages have crossed to downside and price moved beneath both. 4. Fair Value - has price closer to long term averages...

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Here is a scenario for shorting the EURCAD. Reasons 1. Support / Resistance - price has recently moved away from an intermediate resistance ( supply zone). 2. Wave structure - may be in a corrective wave 4 , with C wave about to turn down. 3. Divergence - price has made a higher high, and both oscillators ( RSI, Momentum) have made a lower high. 4. Fair...

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The EUR JPY has approached an intermediate horizontal resistance area. Looking for movement away from this supply zone. Entry - 123.80 ( monthly pivot point ) Stops - Choice of 3 1. Moving average cross - 124.50 ( Aggressive stop ) 2. Recent Price High - 125.85 ( Conservative stop) 3. Prior Resistance level - 126.50 ( Also monthly R1...

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The AUDUSD moved up last week on 3 days and had a minor correction on the last 2 days. There is divergence present between 1. Correlation - The Aussie is normally highly correlated to the EURO ( monthly basis 92%) , but recently has a diminished correlation ( week basis 32%). 2. COT data - The Aussie had price moving up , and the large speculators have...

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Here is a short trade based on Moving average cross. Reasons for short 1. Price has made its way towards (100pips off) an intermediate swing level and supply zone. 2. Price has fallen beneath the short term moving averages (10 and 20) . 3. Price extreme - price is above the monthly pivot ( 70 pips ) and a long way from the long term average price ( 400...

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We are in the midst of the UK Parliamentary Elections. The exit polls are pointing to a hung parliament. "The big picture is that political uncertainty could take weeks or months to be resolved and it is likely to weigh on both financial markets (in particularly the pound) and the economy" With this background , and the technicals pointing to a flat...

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A scalp trade on the Aussie for the Bears. Enter - now .7428 Stop above the high of the corrective wave @ 75.70 Target - 74.55 ( bottom of the wave 4 ) to 74.70 ( .50 fib retracement of prior corrective wave). Risk Reward = 1.8

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As listed per chart.

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Pound has completed E wave now. Look to short at 1. Now 2. Break of triangle 3. Break of D point Target origin of triangle a wave . Potential profit 100 pips. Stop - aggressive inside triangle ( 25 pips ) . Risk reward 4 Stop - conservative . Opposite side of triangle ( 100 pips). Risk reward 1 Your choice. :)

salsapete Updated 

Gold is now in a 4th Minor corrective wave . Since the Minor 2nd corrective wave was a flat , the rule of alternation says this 4th minor wave will be a sharp. Looking for a zig zag correction here. Wave a has completed to 1281. Wave b will likely pass to 1290 ( .618 fib retracement of wave a) . Then Wave c , may then equal wave a , taking Gold to 1277 and...

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Aussie has been in a contracting triangle in 2017. Waves A,B,C played out. Estimates by fib expansion of the AC trendline to establish a time horizon for D wave completion @ .7610 on 29th June 2017 (.382 fib) E wave completion @ .7430 on 1st August 2017 (.681 fib ) From there the triangle to be broken with a measured move (AB vertical distance) from E...

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So a closer look at Gold on the daily chart. Count is 1. Primary Wave 5 2. Intermediate Wave 3 - extended 3. Minor wave Wave 3 4. Minute wave 3 in progress Projections based on 1. Extended Minor wave 3 of Intermediate wave 3 . 2. Fib projections at 1.618. Tracking to intermediate Wave 3 completion :)

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Here is another look at the longer term picture of Gold with wave count , with some fibs to consider. 1. Primary Wave 3 topped out in August 2011 @ 1.618 fib extension of Primary Wave 1. This wave had equal intermediate waves 1 & 3 , and alternated to Primary impulse with an extension of intermediate wave 5. 2. Primary Wave 4 was completed in October 2015. ...

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Fibonacci based Gold Count Long Term 1. In this count we have Wave 3 at a 1.618 extension of Wave 1 , completed

salsapete Updated 

Gold has made a wave 3 topping likely at the 1.618 extension of wave 1. The next wave will be corrective , against the trend , with wave 4. Wave 4 will travel usually to wave 4 one degree down and towards the .382 retracement of wave 3. With this in mind, if you are okay with a countertrend trade 1. Enter now 2. Stop - above wave 3 @ 1296 3. Target...