based on old chart there is invalidation bearish trend if gold stay above 2062-2075 there is a fibo zone on 2083 too (old chart) and it still showing on small tf fibo (but I never use 4618 fibo so I wish it stuck on 2067 so I will use new fibo there
usually indicate a strong potential bullish target 2 times I mark 2120 as first target and 2170 as next target
note: this is just precaution, a risk management, a bad scenario when happen, and know why it could happen there an article in twitter posted by Kobeissiletter (the source of picture) it making similar movement like stagflation which potentially could see a higher inflation later but we are not in stagflation because inflation and unemployment still low and...
retest 0.382 = usually bearish signal for later (it can still go up first) break 0.382 fibo = bearish signal
remember: 1. above 2000 like retest 2001-2003 = 1st signal to 2028-2033 2. both 1981 and 1974 very good reversal zone, under 1974 would be hard to seek reversal signal
im still bearish with 1987 or 1982 or 1975 as next target but above 2000$ possible retest 2028-2033 and that 2028-2033 = gate to 2050-2056 and 2070 also 2120 = very interesting zone if gold go above 2070
just using it to see what level under 1970-1971 got 1953-1956 and 1938-1941 it also show that 1971 and 1985 will become resistance retest after price drop to under 1970 4h also show that 2069 or 2071 become bearish invalidating for gold to continue bullish long term with potential retest around 1950-1955
no bullish target unless 2058 and 2071 retested watching retrace down from 2037 or 2042 to form bullish channel or bull flag channel
wave 5 ready to hit 2500 zone but there is wave 4 usually it long term pattern wont let bull break resistance so fast and easy drawing triangle pattern there
see 2009 support retest, see 2005 support retest but wonder if it is so easy to drop that zone making triple top scenario for now
oil ready to retest 79-82 there gap in 88$ but there no signal to there yet
the 1995 is a zone where market maker change bearish momentum to bullish momentum, its a place where market maker throw a lot of money and where a lot of seller trapped it's called bank level, usually it will get retest again but I want to remind everyone that monthly ready to spike to 2150 but surprisingly weekly still no such signal
I just notice 1931 never retest as support, previously under 1944 I think we will see 1919-1904 drop but this 1931 resistance good area as support later for reversal I create this idea just to check later 1931 act as support or not
1. 4H not bottomed yet (need target under 1944) 2. daily enter bearish trend (but need under 1944 as valid PA) 3. weekly still got 1977-1980 as important resistance to break for bullish signal
1. I don't see any bottom signal, but 5min, 15min and 30min ready to retrace up only 1h is still bearish 2. monitoring 1968 to form mini double bottom then up to 1977 to create a bigger double bottom later in the bigger time frame 3. but once again, I don't see any bottom signal at all so it could straight to 1959 or 1962 and slowly later to 1959 alternative...
In the previous chart, I said there is a potential 2002-2005$ retest and it is more likely to hit 2012$ than retest daily support in 1960$ (if the price rejected under 1992) so bigger chance to retest 2012-2013 but if drop under 1992 and lower than 1985 it might start the bearish signal on lower frame and 4h might start reversal signal trend too probably depend...
potentially higher to retest 2002$ than waiting daily support retest around 1960
FOMC failed to take gold under 1980 and making double bottom there good target too around 2002$ not retest yet, but 94 for now