CUP and Handle ? It seems we have Cup and Handle pattern in Gold chart for weekly timeframe. I hope we will have motive wave, after 12 years resistance in Gold chart.
Long time channel in weekly chart from 2013 till this week. will price touch Madeline ? will price break support ? All depends to coming week ( interest rate ) Federal Bank.
We got 6 years Xauusd chart in bullish channel. Touching Middle line price is turning point for Gold.
As you see , price step out of bullish channel. in case price continue to bearish trend. I mentioned rectangle and strong support in coming weeks. strong area : $ 1400-$ 1850
last week's candle was not good sign for BTC. Waiting for this week candle. If candle be like current one, we go to rectangle area again.
May 13 , I wrote here BTC chart will go to correction phase and will form ABC. fortunately I rectangle support area and happily price react to that support. for coming months BTC chart will be in range mode and waiting for federal's bank interest rate.
C wave touched support area. waiting for coming weeks to see market react.
Good Day. Still we are in bearish trend line with 5 Elliot's wave. strong support is clear. Volume also shows bearish trend line.
As i wrote before for BTC ( weekly chart) we finished Elliot wave and started correction phase with A( 5 waves ) B ( 3 waves ) and probably C ( 5 waves ) which is ZigZag correction.
Elliot waves with 5 clear wave finished. Correction phase started. corrections could be zigzag, flat or Elliot triangle.
As you see in monthly chart for XAUUSD, we have 12 years resistance. I know how’s your feeling about breaking such a static trend line. Well , why we expect this static trend line will break: Fundamental( Covid-19 and new version- new policy from central Bank of USA- more and more demand in China and India- low risk investment- bearish market for crypto and...
As I wrote before for BTC in weekly chart. The chart finished B wave with 50K. We go for C wave. Corrective wave. What kind of corrective pattern will forms??? ABC ZIGZAG ? FLAT ? Or going for combo wave? Let’s wait and see. I hope you guys already sell in 50 K. Good luck .
After breaking down trend with very strong candle, prices goes to next target which is &1910.
A channel in the market is two parallel lines of support and resistance. The channel almost always slopes up or down. There must be at least two peaks forming a resistance line and there must be at least two troughs forming a support line. If price break support line. Don’t hesitate to sell. Daily chart.
After breaking , down trend during past week. We go for next resistances: First: $1910 (Fibonacci ) Second:$ 1950 (previous pivots) Reasons: -crypto market crushed -parallel’s market are end of the bullish phase -Central Bank of America publishing big size of Dollar -Big demand in India and China I am not optimistic. But above items can effect on Gold price...