Bearish Market Structure + Resistance + Fib 38.2% = Confluence
Following the structure and the level it broke previously. It's been a while
Triple top at a psychological level + Fibonacci retracement level maintaining structure. The trend looks bearish from all the sentiment shown by the candlesticks from daily chart
Double top formation on daily, supported by the wedge pattern. Price broke out of the pattern and is retesting. After the retest completes im looking for possible sell opportunities
Rejectio off the strong monthly support key level followed by a 3 pin pattern
Can we possibly get to the monthly resistance level. I certainly think so.
Clear move following break of structure. this is what i am expecting
Double top at a key level hence i am expecting a drop to the downside. it could retest the double bottom neckline as well
I am anticipating a range break on 4H as shown by the purple lines. If it breaks to the bottom side i will be anticipating a double bottom to form then continue to the upside as we can see its been in a range on daily timeframe.
the outer trendline was respected and I anticipated a move to the upside but once it retests the broken inner trendline i will be expecting a move further to the downside as a retest of the inner trendline and as a fib prz as well as the price respecting the resistance line.
Retracement is in play and I am expecting price to move up a bit and hit my zone then anticipate a move to the down side. Plan your trades' Trade your plans.
Expecting a continuation downwards after a complettion of the pullback. Would strike after all conditions have been met because on daily chart, market structure is still maintained.
After observing BOS last week and a bullish move from the demand zone, I am expecting a pull back to the Fib PRZ zone (50-61.8%) then a continuation to the upside. More confidence is based on respecting the descending trend line shown in black.
Following break of structure on 4H, I'm looking for a correction to either 1. Fib PRZ 2. Broken Trendline retest 3. retest of broken structure then go short
As the new week unfolds this is what I am expecting at the moment as EU has found a new trend. Previous lower high (LH) was broken so I am anticipating a correction to take place then we continue with the new trend. We see confluence : Trendline breakout + Fibonacci + MS + candlestick analysis
On another note we can see it going either way! BECAUSE OF REJECTION ON THE RESISTANCE LINE and a double top formation
I am more biased towards a bullish move as we maintain structure. Trend line break and retest Support area Fibonacci 50 - 61.8% zone
Following break of structure, I am looking for the market to hit maximum 79% fib prz or touch the trend line for the third time before I see a continuation to the downside to the demand zone in gold.