Currently developing falling wedge pattern. It is expected a rejection at the mark area (Fib 61.8) . Upon rejection, will enter a buy position towards the mark resistance level. With previous bullish momentum, it is expected to break the resistance level towards fib extension.
Developing a continuation flag pattern , after strong bearish momentum. Expected a strong push to 1.07520 , currently looking for a better sell entry. Optimally looking at 1.08460 for excellent entry position. If it break early, will be looking at 1.08200 for entry at the retest.
Currently developing rising wedge pattern after a strong bearish rejection at the major trendline. Trade idea is to create sell stop at 2.0330 , with a break of this level it will confirm the bearish structure and a break from the rising wedge trendline.
Previously showed strong rejection of a long term trendline and created a broadening pattern. It break the inner trendline for 1st sell entry and now it break the outer trendline of the broadening pattern to confirm its move towards the price objective at 1.68900. Currently waiting for a retest of the outer trendline for a better entry at 1.8100 .
Currently neutral, waiting for the market move. But either move already have a trading setup waiting. Using Buy and sell stop as the trigger with expected target of the move.
Overall sentiment is still bearish and now forming a triangle, will be looking for any bullish rejection around 75.500 and ride it towards 78.540 for bearish entry. Overall trading strategy is on taking the trade near the edges with excellent risk rewards strategy
Weekly candle last 2 weeks was bullish engulfing, currently showing mix pattern. Waiting at 131.864 range, if it created bullish rejection candle, it confirm the wedge continuation pattern and the bullish ABCD move , minimum to reach the C point back at 133.8 . Further move up will confirm the bearish ABCD move towards 136.00 . Will wait to see any bearish...
Still maintaining bearish structure with ascending triangle pattern, we are looking for a bearish rejection in the e wave zone. Invalidate if it break point A
Currently in a good sellers zone, as long as it didnt break the higher low, we are still bias on another bearish leg.
Bullish pattern with target to the B point. Confluence with Weekly strong support level.
After making a new higher high structure, gold is currently moving to a retest of the triangle pattern breakout , confluence with the fib level and key level SNR. Expected to become the new higher low for another move to the upside.
After a clear rejection on the bearish trendline for a new lower high, it is now making the pullback towards key fibonacci level, targetted at the extension level confluence with the key level for an inverted HNS pattern. With double bottom in mind, it is expected to break the bearish structure to validate the inverted HNS pattern.
Maintaining bullish structure and break of the CTL and retest with good rejection at the fib level gives good risk and reward opportunity for this pair.
Long term Take Profit level for the Cup and handle pattern are still due. Currently having a 2nd bullish falling wedge pattern waiting for the break.
Excellent confluences in the mark area, with a retest from the break of the trendline , confluence with bearish channel and fibo level.
Now at a strong support area, looking for the retracement for the break movement on the retest of the trendline.
Still maintaining bullish structure, strong momentum after the bullish breakout. Currently holding HNS pattern in H4 , good risk and reward based on the current setup.
Gold in a falling wedge pattern, currently retesting the break and trendline, looking for another bearish leg before reaching the bullish area.