sparta121

sparta121

chart is showing a bullish flag candle formation. Pretty simple read.

sparta121 Updated 

It looks like our daily bullish trendline has been broken, if you go on the 4hr you can see when it broke it tried to recover but it rejected and went back below the trendline. Are we going to see bearish sentiment now?

sparta121

There's a trendline forming. This is the most crucial part to see if it respects the trendline for the 3rd touch which would make it a valid bullish trendline. If it holds, we should be going to the tops again. On the 4HR we're about to be oversold on the RSI which indicates a potential reversal. Knowing that the RSI is oversold and we're about to make a...

sparta121

The daily trendline has been tested multiple times and has been valid since DXY failed to break through above.We are expecting FOMC news in 3 hours at the time of writing which if it's hawkish we can expect DXY to break the daily trendline and move up, this will cause XAUUSD to dump since the dollar and gold are correlated. One goes up, the other goes down. We...

sparta121

Our bullish weekly trendline for XAUUSD has been broken, could it be a fake break? Possible, if not however we're heading to the levels of demand where I have tp1 and tp2.

sparta121

Gold has tested this area 1 month ago and it acted as support. Now we're retested it and it looks that we're going to test the 200 daily EMA level before we bounce up, which would make the famous W double bottom formation.

sparta121 Updated 

We're making nice higher highs and higher lows, so buy on the higher low on the trendline.

sparta121

Going up from support, we're also oversold so likely recovery back up with the trend.

sparta121 Updated 

Pretty obvious whats happening, we hit strong resistance. Go for shorts.

sparta121 Updated 

So we're heading to a key level which was tested 3 times before and acted as resistance, naturally when resistance gets broken it turns into support. Lets see if it will hold. Also RSI indicating close to oversold conditions.

sparta121 Updated 

Looks like we've hit the a support trendline, it's still not confirmed but it's a possibility, see if the trendline holds, if it does expect a recovery.

sparta121

Pretty obvious whats going on here. Eurusd has been rising a lot and is in a clear uptrend, we have to wait for it to reach a level of demand.

sparta121

Gold hit the previous level of support and formed a reverse H&S pattern on the 7th of june. Now we have hit the same level of support and seem to create another reverse H7S pattern. Aim for the resistance on top.

sparta121

Gold has wiped out 3 weeks worth of bullish sentiment just in the past 2 days, indicating bearish momentum is picking up. Volume indicated also that there's alot of money behind the selling showing that it's not a weak push down. The bearish weekly volume candle is higher than all the weekly candles since 21 of november. Considering the fundamentals, a weak dollar...

sparta121

We broke the previous support area and are retesting the level right now. If it rejects and gives a nice engulfing bearish candle, go for the short to the next demand zone.

sparta121 Updated 

EURUSD has been consolidating and hit the support level of the consolidation, buy from the support to the up levels.

sparta121 Updated 

We have rejected the previous high, indicating we are about to create a double top pattern. Trend is still bearish so going short with this one.

sparta121 Updated 

We're going forward with the bullish sentiment, we've created a bullflag. Wait for a clear breakout and possible retest before we go to the supply area on the highs.