30 min engulf candle, so it will retest 2024 for now I still follow old plan retest2008 for a while
for my friend he asked about this one potential buy to 1405-1435 as long 1160 support strong
stoch on 4h quite high it will create a bearish divergence since yesterday reyesy 0.618 fibo later it will retest 0.5fibo just the 2007 still on target might extend to 2038 but if go to 2038, 2027 would be strong support for a while, making 2008 as very small chance target
Waiting for retest 2028-2038 then drop to 2017, monitoring extension start fr 2013 to 2005
I show all red histogram turn into pink color that's when daily reversal, so as long it not pink color yet careful with bearish trend already mark all support
still no sign bull or bear just see this signal to 2020
still above triangle 4h and daily MA around 2036 while the support on triangle 2018 (and candle) while visible support on 2009
if not retesting 2026 again it will bullish to 2049, extension to 2055 that spike down to 2021 then sudden reversal mean bear lose to buyer again
I find this easy technique to determine support resistance using MA 9 and MA 55 just mark all the curve from the MA (the blue MA, on this chart MA 9) note: this is experimental technique, find when I'm scalping using small TF I wont use this technique again if no retest to 1988 and 1956 treat it as useless technique, or treat it as a number like fibo (as u know...
very strong resistance around 2028-2029 it happen in the past too will add more chart about 2029
4h aupport looks break out already Is it valid or not? Fibo still need under 2013 to hit 1995 But I dont know is it valid bearish or not since the bounce from 2017 really strong (might hit 2036 again)
need monday or tuesday pa to make new analysis, is it bottomed on 2004 or not?
I will add more analysis in the update later but the key daily must not candle close above 2036 and weekly can still drop lower than 1970
if bearish it should not retest 1932 if retest 1932 it will retest 1937 or 1943 again as you can see 1943 very magnet zone, as for bearish target we see 2006 and 2000 as next support
make note that bearish divergence on weekly continues and starts breaking 2019 support fibo, meaning next fibo 1980 will be retested
bearish divergence but it reversal after making lower low so we can conclude the bearish divergence for now another big problem would be if it start breaking 2033 resistance and making a movement above 2044 which would target 2062 and 2072 in my opinion, I still see 1980 as next target but it can touch 2033 for now
I don't know if it is still bearish when hits 2043... this reversal only shows on 5min tf clearly
1. invalid if above 2062 and 2071 2. I will make lower TF analysis later and all rules based on fibo for it with 1934-1947 as the next fibo target 3. it will be annoying PA because I draw triangle and triangle just a 50:50 pattern 4. since it 50:50 I need to make scenario if gold go lower than 1934 too UPDATE IT'S NOT VALID YET, REMEMBER MUST BE UNDER...