Good buy opportunity after the price broke out of the flag formation o the upside. I'm looking for buy candles in lower timeframe to minimize the risk.
I posted this a couple of days ago... Hopefully it benefitted someone. The green lines are the next targets on the fib. Beware though, there is strong resistance around these levels.
The white arrow simply represent what I anticipate but it might not be a straight line. As we can see, after the impulse, we had a long correction which ended at the fib golden ratio, then price broke out of the diagonal. As long as we stay above the white horizontal line, I look to buy. And the potential targets are pointed out in green on the fib.
As the dollar is weakening across the board. I gave been monitoring USDJPY and after a long consolidation the price has fallen outside of the diagonal and seems to be ready to drop. I will look to sell as long as price stays below 144.8. Please share your views
As this pattern is forming, I think the recent correction higher is an opportunity to sell at the top for aggressive traders. Or wait for a break to the downside before selling. Either way I think the dollar will weaken across the board. Please share your views.
I am still learning EWT (Elliott Wave) But combined with simple chart pattern, this shows me that the next move up is about to take place. This looks like a triangle which also formed an ABCDE wave pattern. As long as E stays above C, the move should be to the upside. Please share your views.
Back in April I posted this as a potential move... Today it has played out and there is still more upside move in my humble opinion.
There was a clear breakout of the descending triangle or wedge... (to the downside) then price retraced at 50% fib level which was also the bottom of the wedge then fell. Hopefully we reach all the targets. The white arrow is there just to show the path that the price took.
Congrats if you took the trade when I posted... Now this is a zoomed out view on this pair. Some support around the blue and white line but if price goes through them and closes below the white line in the few days to come, it's game over. Targets are on the green lines.
A few weeks back I posted about this possible scenario... and today it played out.
At this point I am slightly bullish... just based on what the chart looks like. Remember, trade what you see and not what you want to see. Also I have highlighted in blue arrow the clear bullish divergence on the RSI, which further support my bias. However I have also indicated the resistance levels around 15070 and 15200. Watch the kind of candle that will be...
The RSI is showing some divergence and XAUUSD might be getting ready to resume the trend up. As long as the price stays above 1895. Buy the dip!
Weeks have past since I have been watching this move up and posted it here. And that's exactly what happened. I believe there's a good buying opportunity at the moment as indicated on the charts.
I'm closely monitoring this and I plan to buy at the level shown. Please share your opinions .
View from the daily timeframe: In my opinion, looking at gold recently, I identified the impulse (white arrow) on the left, the move down however seem very corrective (blue arrow) and I will be waiting for a strong daily bullish candle in the designated area (white square) which is also around the golden ration of the fib retracement. But it could also turn around...
In my humble opinion, these are the two anticipated scenarios for the DXY. Unless it reverses and closes above the white line shown here, I will be looking to sell.
I have had this setup for weeks now and I believe the dollar is weakening further across the board. Keep an eye on this. Weekly timeframe.
By the look of things, the DXY fell out of the ending diagonal, right around the 0.768 Fib retracement level from the 8th March and in my opinion is setting up for a drop. It's worth keeping an eye on...