FibonacciTradingCrew

FibonacciTradingCrew

Currently, Gold is still on an Uptrend and will continue to be at least while the monthly SAR is below price. The bearish Wolfewave signal to sell/short is when price goes back down below the 1-3 line. What event could push the price of gold down drastically? Remember - patterns could fail. Do your own due diligence and manage your risk.

FibonacciTradingCrew

Scaling out at multiple targets increases the odds of taking some profit. The 3:1 target got made already. There’s a measured move that is in play - which is also near an intersecting line target. The bearish Wolfewave 1-4 line is still also in play.

FibonacciTradingCrew

Keep an eye on the shorter timeframe patterns that could invalidate the longer term patterns.

FibonacciTradingCrew

The risk/reward of this pattern is quite attractive. Patterns could show up in multiple timeframes. The weekly bearish Wolfewave is still in play.

FibonacciTradingCrew

As long as the 4 hour SAR is above price, those bear targets are in play.

FibonacciTradingCrew

Fibonacci tool pegged to a high and low where the retrace levels have confluence with previous swing support and resistances. RSI getting close to overbought levels. The recent higher lows and higher highs could be setting up for a bear flag. How high will this bearish retrace go?

FibonacciTradingCrew

Bears have already reached the 3:1 ratio target. Those who are holding longer and are scaling out are still in play for the deeper targets.

FibonacciTradingCrew

On the bullish side, there’s the measured move target. On the bearish side, there’s a bearish Wolfewave. There’s a 3:1 ratio bear target and an intersecting line target. Bears who already took on positions could still be in the game even after the bulls reach their measured move target. Bulls taking profits at their measured move target combined with bears...