Confluencetrading
Consolidating Structure Breakout | Short Opportunity on PullbackLooking to enter shorts on a pullback retesting the back of the broken ascending TL in confluence to the inner 0.618 fib retracement, previous area of S&R, and respectable descending TL.
Cancel order if 129.700 level gets broken before getting ticked in.
Yields are bringing the yello metal back down to restest S levelBulls have taken price all the way up and they are exhausted at the moment, is this consolidation going on meant for them to gather steam to continue their bull run or is the consolidation for testing the resistance in this level?
I believe Gold has touched a confluence over here and the bears are going to take over and bring price all the way to the 1735 area before the next major move.
Like I always state, this isn't financial advice, do your own analysis and trade wisely because trading CFD's on margin is very risky for noobs.
Have a great one!
Cheers!
Potential shift in momentum on daily support rejectionDon't get me wrong... we are still in a heavy bearish trend; However, I do think its about time the bears took a breather this week. The daily rejection off the 0.75600-0.75700 support area could indicate an early shift in momentum, so might as well YOLO myself into a long position here. Intra-day levels showing a decent long opportunity on a pullback retesting previous area of S&R in confluence to the respectable ascending TL and the 0.618 fib retracement. I would advise to lower your risk on this one.
$17 or $27 Oh My God Coin by Mid March- Ultimate Fib Confluence Look at the Time based Fib Extension on this bad boy from the 2020 bottom to the peak in the summer time. Combine that with a regular Fib Time Zone and we see a bottom or top is made after around 20 something days from once we reach the zone. Something nutty is about to be brewing.