sbaharis

sbaharis

it takes chaos to move price to another level. with current war in mid east as well currency war, gold is the haven to store. the struggle to break ATH is only due to strong USD. against other currencies, gold is already on price discovery. Based on TA, price has bounced off crucial safe levels and currently making its way to All Time High.

sbaharis

Based on the news pump, pulled Fib on m15 from swing high to swing low, marked the 50%-61.8% area and found the zone to be high confluence. TP is based on H4 Swing low to Swing High fib. Gold is overextended on small timeframe. retracement is possible. on higher tf, will look for buying opportunity in lower zones.

sbaharis Updated 

Continuation of previous setup shared. opened up Fib from first rejection latest lowest low, price retraced to 50%-61.6%. rejection confirmed. second entry executed near the first entry levels. refer to previous chart for info.

sbaharis

price reacted to the golden area of 50% - 61.8% . closed my sell at 2003 and flipped to long, aiming first target at 161.8% of consolidation area. maintaining open TP due current economic climate.

sbaharis Updated 

I feel like gold is way too high, fueled heavily by the narrative of dollar news. we're almost reaching the all time high based on MN. Zoned out to smaller TF to H4 and decision based on rejection and fib 61.8 retest from below.

sbaharis

not an advise. just to journal my trade. entry based on H4 fib of 61.6% - 50% retest from below of broken wedge. target based on D1 fib of 61.8% and 50% as well.

sbaharis

Here's a setup based on structure and fib. Two positions intended here one for D1 scalp, the other is for swing high. may break structure for lower where we'd look for sell.

sbaharis

Gold has been bullish since the start of Ukraine-Russia crisis, serving as a catalyst to pump its price up. With every pump, there's a dump (retracement). gold sits on a level of interest as we hope to see bull continuation. buying level was from 1960 to 1970 in the ABC correction. 5 wave up from here.

sbaharis Updated 

Earlier i posted a long stop order (which is activated). leaving the position to run and placed a short stop order incase the direction continues.

sbaharis Updated 

currently at an interesting level of fib, where we call as The Golden area. Retest of the level from above and continuation to 1.618% or break below to retest higher TF golden area, where we'd observe the reaction.

sbaharis Updated 

Gold is showing strength this recent days. Waited for pullbacks for entry. Scalping with the trend. TP 1900

sbaharis Updated 

I forgot to update the SL from the default setting in the previous post. Here's the updated version.

sbaharis

so the shorting didn't work. that's -10% of equity. here's a breakout of previous high, inside the monthly golden area targeting the 50% fib.

sbaharis

What goes up, must come down. Fundamental aside, this is just a momentum play, applying what i learned from crypto. TP at 1.618 fib. possible heading to retest broken triangle before flying off.

sbaharis

Golden Area (60.8%-50%) is holding strong on the weekly TF. price seems to rest well. with the current bias on hyperinflation and more money to be printed, going LONG fits the narrative.

sbaharis

just another triangle spotted. the top is the resistance+golden area of D1. expecting a channel down. tight SL

sbaharis

The setup is based on D1 Golden area of Fib 61.6-50%. broke below the GA and expecting a retest of said area from below. wait till price reach above, and place sell limit.

sbaharis

We're aiming a medium term bear to bull demand level of 1700. if you've missed the sell entry at 18++ as per previous post, this is a great reentry setup, aiming at the same TP.