I already long gold, but I really like this possible inverse we are sitting on the neckline of. Watching closely.
Nice little formation of patterns have developed here. Pretty simple and clear trade. Inverse plus wedge break.
I know most of my charts are pretty simple. I refuse to clutter them with indicators that dont work just to get some extra clicks. Or make it look fancy. Trading is not fancy. Almost 2 decades, never seen a single indicator worth its weight. Price action / SR rules always.
Maybe one more extension, but I look for those gaps to be filled sooner rather than later. Maybe by July or so.
Im getting some possible signals for sell here and this is one of the possibilities I am looking at outside of the corrective channel it seems to be making a possible head and shoulders (as always never trade and HNS before confirmation) but I will be watching that 147 area quite closely if it keeps shaping up.
Last week, I manually closed my gold shorts at a profit and switched to a long position. I also updated that chart to reflect this change. This weekly gold chart appears ready for a move, and I believe it will likely reach the 2080 area before fluctuating and eventually moving higher. (2185) However, let's focus on this initial move before reassessing.
Gold refusing to fall through the 2020's has provided a fair amount of long scalps, but in the bigger picture i think gold moving up is in the cards. I like 2060-85 and eventually 2150. Its gold so there will be a lot of volatility. thats why you trade small and accumulate always
I would be all eyes on this EURUSD chart as we approach an extremely important trend line here on the 4hr and daily. Any break and retest of this line would be worth a short. Alternatively a nice bounce would carry quite a nice RR on the long side as well.
Even though I am already long AUDUSD (see previous setups if needed) I found this to add to the possible outcome of the trade. I will be watching closely as the neckline of 0.68xx area creeps closer. Important rule: Never trade a head and shoulders unless its confirmed, they can murder you on a false break. However due to already being long it is helpful to keep in mind.
I would expect Gold to make some moves to the 2046 area this week. Perhaps some scenarios we see are an exhaustion gap to open up the week followed buy a fall to get out the rest of the buyers in the market. Or perhaps just a move up to 22xx to get that psychological number printed before we fall. Anything can happen but I will be scaling any upside movement for...
Easy play here on AudUsd, trade is right there on the chart.
I have another chart of this already, this is another view of what im seeing. This move up doesn't mean anything to me as the return to the mean should happen during correction sitting nicely around target levels. 16400 give or take a couple of hundred.
I got into this double top as soon as the daily closed. I'm looking for 2080, the 2043. Then, there will probably be more upside, but I will only worry about this nice risk vs. reward on this short for now before reevaluation.
This is what im thinking gold will do, looks like an easy play to around the 2100 -2110 area and then should fall to around 2043-2048 area. Will reanalyze then.
Last week was great. Im not so bullish this week I think we will have a move down to at least the 2043 area while gold figures itself out. I think any further move up will be cancelled out by a bearish move by the end of the week. Falling below this area opens the door for the 2025/ 2015-2018 area. Both great areas for a bounce. On the other hand a capitulation...
I love this, 18k hit, nice rising wedge pattern. I like 16400 area eventually but this will wiggle around for a bit before it gets there.
Been posting this for awhile now, if you see any of my last posts about it. This time will be holding for the gap fill on the short side and then will reevaluate positions.
Pretty simple chart here, I dont really use indicators so my charts are all naked like this. Head and shoulders. Im bearish here overall, looks like an easy play with low risk nice reward.