Looking to sell at 1831.45 Trading with the wedge conformation the selloff is close to an exhausting count on the intraday chart. 50% fibonacci level 1830.47 from 1876.07 to 1784.86. Resistance located at 1831.45 resistance could prove difficult to break down expect a reversal in this move preferred trade is to sell into rallies. Support: 1804.46 Resistance: 1831.45
In this potential short trade we are looking for the start of Wave (C). Only trade this if the following conditions are met. Entry: $1830 Stop: $1851 Target: $1744 Risk\Reward Ratio: 4.5 If price goes above $1851 before the entry level is hit then this trade idea is invalidated. Remember to use Disciplined Money Management Principles to ensure longevity as...
Option 1 under the flag will be DOWN and target red line (1840)and (1815) and Close at black line (1860) Option 2: above the flag will be UP target (1872) and close at under flag
If you are taking other peoples advice be careful! If you are doing like crypto hodlers and economists by extrapolating be warned! You will get burnt. In this video I give you some golden nuggets for free but most importantly I prepare you for what comes next. Please LIKE and FOLLOW to get notification of updates and future posts. Original Gold Short Idea...
XAUUSD SHORT POSITION IDEA I can't enter long =]]]
Reaching the resistance since February on gold, area is 1815 - 1825.
Gold may be forming a double top a short is at play waiting for confirmation
it is for me or the market its is impossible that if the market make 2k pips in just short of time 3days that he needs to recorrect it self at least 50% - 61% fib if he do that in long term at least it wil take 2 or 3 week to get there.... have a nice day.
Hey traders, On the H1 charts for Gold I see a Head and Shoulders pattern that has formed. If price can break the neckline I see price going down until about 1435 or until we see signs of reversal. Simple technical analysis and price action. Risk management is king.