Gold moves below the daily pivot for today, and forms a triangle pattern after the break down on Friday. If the price does not break up the daily pivot then the chance is to continue down to the first daily support
-Open short positions if...
Gold closed bearish last week and was below the weekly pivot area for this week. It is possible that it has completed the ABCDE triangle pattern by breaking down support, if the ABCDE pattern is finished with point E at the high price on Friday ($ 1211.05 / oz) then the big chance is bearish and continues the downtrend with confirmation of a break down of $ 1192...
Gold still moves above the pivot and looks to continue the pattern by forming the 3rd wave, invalid if the price breaks below 1200, a big chance of a break up, completing the wave (E) in the weekly movement.
-Open long positions if the...
Gold still moves above the pivot and looks to continue the pattern by forming the 3rd wave, a big chance to break up, finish the wave (E) in the weekly movement.
-Open long positions
-TP at the first and second daily daily resistance
Gold seems to continue the pattern by forming a triangle pattern, a big chance of a break up, finishing the wave (E) in the weekly movement.
-Open long positions in the pivot area
-TP at first and second daily resistance
-SL first daily...
Gold still looks moving in the pattern formed, and moves in the daily pivot area for today. Today if the price does not break the pattern by breaking below the first daily support ($ 1194.03 / oz) there is a good chance the price will move to the first daily resistance area ($ 1206.43 / oz).
Gold closes below the daily pivot for today, the RSI indicator is already in the oversold area and the price seems to start losing momentum. The chance is that if the price does not break the first daily support, the price will move back up to the pivot area.
Gold closed bearish last week and was in the weekly pivot area for this week. If the price continues the trianggle pattern then the price will move to the first weekly resistance area, invalid if the price breaks low ($ 1187 / oz). Key support is $ 1187 / oz If it breaks low then it will move to the first and second weekly support area.
Gold moved again in the pivot area after having broken down the daily pivot for today. There are two possibilities, if 5th wave has finished in yesterday's hike then the chances are bearish, if it turns out yesterday's hike is a continuation of the 3rd wave then the chances are still bullish. Since divergence appears then the chances are greater in the first...
Gold breaks the channel and moves above the daily pivot for today. Pivot points are at the .382 Fibonacci retracement and the first daily support at the .786 Fibonacci retracement calculated from the beginning of the break. If the price cannot break below the pivot or the first daily support then the chance is still bullish with the target of increasing to the...
Gold is still moving in the daily pivot area and is seen forming a daily downtrend channel. If the price cannot move down pivot, the chances for the price to move back bullish and there is a chance for a channel break. However, if the price breaks down the pivot then the chance is to continue the downtrend channel formed.
Gold is still consolidating to form a triangle pattern and moving in the daily pivot area.
-Open long positions when the price breaks up the triangle
-TP at the first daily resistance
-SL can be placed in the first daily support or...
Gold consolidates to form a triangle pattern, looks like there is a bullish exaggerated divergence even though the pattern forms a descending triangle, if you look at the chance for weekly movement then the chance for daily if the price moves bullish then the chance it move to the first daily resistance area.
and if bearish then the chance it will move to the...
Gold consolidates with narrowing price movements forming a triangle pattern. Prices open in the pivot area for this week, if the first weekly break support price is likely to continue the previous pattern and the potential reversal zone is in the second and third weekly support area. If the price manages to move above the pivot then the chance for the price to...
Gold moves in the pivot area for today after yesterday having broken R2 but still back down. wich is the price breaks down the pivot down there is a chance to continue the pattern, but if the price breaks the previous high then the chance to continue move up.
Prices now have formed a bearish candlestick.
Prices are moving up and still in the channel, the price is at the first daily resistance, 200 MA on TF 1H chart is in the second daily resistance area, if price continues three drives pattern then there is a good chance it will turn down at the second daily resistance, invalid if price breaks up out of the channel.
Yesterday Gold moved down and closed below the daily pivot for today. Price is already in the first weekly support area ($ 1192.70 / oz) and is at the channel support line that is formed. Looking at the daily price movements in the past week there is a chance the price moves to form XABCD or maybe three drives pattern. Chances are the price will move back up to...