- Orange line : Fibonacci sequence x 1.618 from October 2008.
Yellow line : Fibonacci retracement 2018
white line : Projected Down Trenline from september 2016
Closer they are (orange and yellow fibonacci line) in between the high resistance/support is expected
- expect a down trendline would be tested and a possible retracement once it's touch that...
Gold has entered its 5 year Resistance Zone (1350 - 1365). This alone is an immediate sell signal. What's even more interesting though (and a stronger reason to go short on Gold) is the cycle that the metal tends to seasonally follow every 1.5 years.
The chart speaks by itself. I have distinguished two time periods: 2017/18 and 2019/20. Every time the price...
Not financial advice. I’m not a financial advisor. I’m learning to trade. Learn to trade.
CL1 Daily. Maybe dealing with a false breakout at the moment here but this is what it looks like to me. Target @47 area which matches up with the target of weekly bear flag/correction. These two targets also align with the dec 18 lows. If we do breakdown, and reach that...
Gold has broken the falling wedge with strong candles and a proper volume. The Bearish SFP in the end of the bullish trend, indicates that a retracement for a furthermore uptrend is coming. Entry is the place of pullback and destination is the Fibonacci Extension.
Please let me know if you have any...
A possible Sell opportunity:
- yearly levels (2017 high)
- strong area
Wait for a rejection from smaller timeframes. If possible then wait for a confirmation from bearish candlestick patterns.
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Gold has just entered today the 1,355 - 1,365 1M Resistance Zone with 1D highly overbought (RSI = 77.219) due to June's aggressive bullish run. The price is undoubtedly inflated due to the recent geopolitical tensions (U.S. - Iran) and the correlation with DXY has been broken. As soon as tensions ease, those dynamics will normalize and Gold should start moving...
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XAUUSD - Fractal TIP!
The pattern from 16-08.2018 until 13.11.2018 is repeating.
It can be noticed intraday on current charts, from 23.04.2019 until 16.05.2019 (today).
Many pips ahead!
Several rejections from the orange lines which have printed some bearish candlestick pattern:
- Evening Star
- Gravestone Doji (Shooting Star)
- Railway Tracks
All those have formed in the 4H chart and all those have formed around a pretty strong price level: multiple Monthly lows and Monthly highs have been in the orange area.
A great bearish price action but...
Pattern: Ascending Triangle on 1D.
Signal: Bearish as it is testing the last Resistance (twin rejection) Zone before the 2019 High.
Target: 1290 (Higher Low on 1W).
* If the Resistance Zone breaks, assume a fast rise to 1345.