I'm newbie still learning every day... Sometimes I got problems with bearish divergence 1. What range of the divergence? what the tp for bearish impulse? 2. Why there is trend reversal after the divergence? why the gold does not continue the bearish trend? and this chart shows me some clue about it Cyan = bearish divergence Purple = hidden bearish divergence red...
divergence with some support and resistance line
IMO, this would be sign for gold bear for a while the problem is sxy... how high dxy bullish impulse? if shallow gold bear could stuck at shallow bear like 1475 or 1465 before bounced up to target 1560
just for fun, not trade advice
i see some form on weekly chart, what do you think? looks like need to wait for gold break up 1535 first
testing trend line for bull, if bear can forming harmonic from juli to september i will target 1447 at 23 august
so i see some connection between dxy trend line and gold and see possibility 1525 or 1520 and 1538 for gold dxy 97.15 and 96.88 NOTE: JUST FOR FUN i would revise it if gold bear and dxy bull
wave 1 usually same with wave 5, so we will got high chance to hit 1538
i just using basic theory about flag bounce ABC or ABCDE let see the result... what if bear? down to 1475
wave 1 from 1160 to 1348 = 188 poin wave 2 from 1348 to 1269 = 76 poin (0.382 fib) wave 3 from 1269 to 1527 = 258 poin (3.618 fib) speculation wave 4 from 1527 to 1417-1428 = 110- 99 poin (0.382 fib) wave 5 above 1550
watchout HS pattern... from 1469 to 1474/1480 we could dive more IMPORTANT NOTE: we still bullish!!!
1469 become important line with 1464 and 1458 target start from 1469 to 1505
i'm confused how big this next drop... 1480? 1475? 1468? 1464? break down continue with bear impulse? hit 1458? then 1445?
this not long term chart so my triangle only target 1501, i'm not bear, still bullish at least until gold hit 1520 right now we got lot of resistance 1484, 1475,1469,1464,1458 each resistance could interpreted different way
rsi still bullish, and dxy clearly same with gold proceed wave 5 now target above 1475 invalid if bear to 1445