Break of structure to the upside already happened by producing a new high with good momentum. Expecting price to trade higher. Target is a 1 to 1 completion to the upside and/or 127% Fib. Nice rotation candle forming right now.
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The bears made new lows overall. Nice harmonics are in play, see lines. Price came into an area of support with an extended 1 to 1 harmonic completion touching the 113% Fib Extension on Nov12 at ~1.12166.
Right now the correction is happening with the bulls struggling to trade over the 38.20% Fib Correction at ~1.14456.
I am expecting the bulls to overcome...
Went long XAUUSD in the immediate orderflow. Expectation is a 1 to 1 to the upside / 127% Fib. Price is still not in my overall short area in the higher time frames, which I described in my XAUUSD Short idea yesterday. Until then I am aligning with the immediate OF.
Structure broken to the downside -> Expecting new low. Price is correcting right now. Waiting for price to trade into immediate resistance area, orange rectangle, 61.8 Fib to go short.
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Longer term resistance - immediate 1 to 1 completion. Expecting price to trade lower into key support areas.
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As described yesterday, the buyers came in strong out of support areas at ~24100. Price broke through the 25000 level and created a new structure high by breaking the last highs as well. In the more immediate order flow price created a 1 to 1 to the upside reaching 25300. Price corrected strong and broke the immediate structure at ~25070. I am expecting price to...
Price tried to trade lower to create a new structure low and to retest the support levels at ~24209 and futher down at ~23980. While waiting for yesterday's sell, I was expecting a rotation and a short-entry between the 50% and 61.8% Fib Correction. After the sellers came in around there to correct weak, buyers dominated and traded price higher creating immediate...
After an extended 1 to 1 completion (yesterday's short) we reached strong areas of support (blue lines - my weekly analysis) where the buyers need to show up. Since the last high that price made is not being taken out, I am still looking for shorts. Price is correcting right now. Unsure about the correction this time, but I am expecting it to happen between the 50...
Right now we can see a nice harmonic correction. I am expecting a 1 to 1 completion to the upside of the previous immediate swing at orange rectangle area --- ~24969 and ~24986. Looking for a D-sell.
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Price is selling off nicely. New structure lows were created with nice ratios and harmonics in play. The last low was created with less momentum and less projection since price is reaching strong support areas at blue line ~24209. Buyers slowly start to show up. Still bearish market and looking for shorts.
Check my longer term analysis as well:
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YM still bearish - The buyers came in good at ~25200. The sellers still dominated though and traded below those levels. Expecting price to create new structure lows and retesting support levels at ~24200 and ~23980 - (blue lines). Nice harmonics in play, also in the immediate order flow.
Check my analysis for the more immediate order flow.
**DISCLAIMER: Futures...
After this huge move to the upside, I am expecting price to correct into the drawn orange rectangle-area at ~25160. Looking for longs there. Target at 25460-25480 at a one to one/127 Fib extension. Stop below the last low at ~25009, safe below 25000.
*DISCLAIMER: Futures, stocks and options trading involves substantial risk of loss and is not suitable for every...
