Gold - Too good to be true?Hey fellows!!!
Gold is still pushing down,
On the lower TF we gat what looks like to be a couple of bearish flags breakouts going on.
After gold has been trading in a tight ascending range all week, it finally broke the flag down yeasterday following US news,
And today, it came back to retest the 1870 level and again, US news kicked in!
So here are we now, breaking another flag, to, maybe, go get the 1830ish + level where gold could find some support, so that would be a great target,
Reasons that make me think of a fall until the Target Area:
1) Gold getting a lot of selling pressure
2) It broke a bearish flag yesterday, and retested it today
3) It's breaking another flag right now
4) It retested 1870 with an ugly "not in the textbooks" inside bar on H2, nice
wicks on H4, several engulfings on H1
5) 1870 was also the 50% fib retracement of the last impulse down move
6) the break of the mother bar in H2 is a signal for a sell, like were the past two H4 candles as well,
Ok well again we will see what the market decides to do but hey gold, that a lots of facts that go in favor of a meltdown! Even just temporary, there's only one thing, the 1850 level is on the way. Price bounced on it once, so, it's gat to make it trought otherwise we might see another restet of 1870.
But then after that, ther'es virtually no resistance all the way to the Target Area, knowing that there's an imbalance if you look left on gibber TF
The whole thing about it is, is it too good to be true or, is it like sometimes it's just like in the textbooks?
Market will tell :)
Thanks for reading
Cheers and happy trading!!!
Fib
BTCUSDT - Trading Range (Retest)2Hour Chart - UTC+1
My best effort attempting to draw a trading range that the price if currently retesting to enter back into the range. Will create a separate chart idea for a possible trading range should we continue to the upside.
Trading range:
Bottom 21,500 Top 24,300 and Middle 22,900. At the time of writing, possible retest of the top of the range. Not having yet hit the weekly at 24,295 could possibly be a signal for a front run however, levels between this weekly and daily levels above seem to be well respected. * The weekly was tapped. Nice reaction, lots a resistance above after recent daily action.
Fibs:
Fib Channel from low on Saturday 14 Jan at 11:00, to low Mon 13 Feb at 17:00, to higgh Thurs 2 Feb at 01:00.
Fib Retracemet from low Mon 13 Feb 2022 at 17:00 to high Thurs 16 Feb at 17:00. Interesting level is 0.618 about mid of the channel including a daily an nPoc.
Assumptions:
All monthly, weekly, daily, and nPoc Horizontal rays act as support and resistance levels. Support when price is above and resistance on price action below. Fib channel also used for indication of past and present possible support/resistance levels.
My bias:
Bullish for a break to the upside. Plenty of price discovery above should the range be broken to the upside. Although bias I'm always trading the levels as they come.
Daily review of BTC interval 4HHello everyone, I invite you to check the current situation on BTC in pair to USDT, taking into account the interval of four hours. First, we will use blue lines to mark the local uptrend channel in which the BTC price is moving.
Now we can move on to marking the places of support in the event of a correction. And here, in the first place, it is worth marking the support at the price of $ 24,129, when the price drops lower, the second support is at $ 23,789, then at the price of $ 23,434 and $ 22,952.
Looking the other way, in a similar way, using the trend based fib extension tool, we can determine the places of resistance. We will first mark support at $24,825, when it breaks, then we have second support at $25,300, then support at $25,741, and then support at $26,404.
Please pay attention to the CHOP index, which indicates that we are gathering energy again, the MACD indicator indicates entering a local downtrend, while the RSI shows a visible rebound, but we are still moving in the upper part of the range.
Bitcoin Head and ShouldersBitcoin has been in a nice range for the last couple of weeks, however it looks to have painted a H+S with a broken neckline. Targets and trade set ups shown with stops and invalidation levels. If the neckline is reclaimed, I would look for a long to reclaim at least 0.5 fib for first TP and second TP range high.
SHI/WETHGood fib confluence on the wave tops and same extensions as the first pump, so its possible we get a deep fast 4 wave now, which would satisfy the rule of alteration between waves macro 2 and macro 4, and then a 5th up to the 1.618 of the third
DOT / USDT 4H CHART - Targets and Stoploss!Hello everyone, let's look at the DOT to USDT chart on a 4-hour time frame. As you can see, the price is moving below the local downtrend line.
Let's start with the support line and as you can see, first we have a support zone from $6.66 to $6.57, if the support is broken then the next support is $6.45 and $6.29.
Now let's move on to the resistance line, but first we have a resistance zone of $6.82 to $6.95, if we manage to break it, the next resistance will be $7.08 and $7.27.
Looking at the CHOP indicator, we see that most of the energy has been used, the MACD is close to entering a downtrend, while the RSI indicates a strong reaction, which creates room for increases.
GOLD new lows?SAXO:XAUUSD
English: Hey traders, at the moment, I'm eyeing a move back to the main level of 1900 in gold. In the 4-hour view, gold has reached new lows and is forming a small downtrend. I recommend using the Fibonacci tool to analyze the gold chart. If we apply the tool in the 4-hour view, we can see it has come directly to the 61.80% level and has been slightly rejected there. If the 4-hour gold candle closes around 1928, we may also see a bearish candle formation, further strengthening our confidence.
Deutsch: Im Moment suche ich eine Rückbewegung zum Hauptniveau von 1900 bei Gold. Im 4-Stunden-Chart sehen wir, dass Gold neue Tiefststände erreicht hat und einen kleinen Abwärtstrend bildet. Daher empfehle ich die Verwendung des Fibonacci-Tools, um den Gold-Chart zu analysieren. Wenn wir das Tool im 4-Stunden-Chart anwenden, sehen wir, dass es direkt auf das 61,80% Niveau gekommen ist und dort leicht abgelehnt wurde. Wenn die 4-Stunden-Goldkerze um 1928 geschlossen wird, können wir auch eine bärische Kerzenformation sehen, was uns weiteres Vertrauen gibt.
Dollar reversal or retracement?TVC:DXY
English: Hey Traders, I'm currently looking at the 4-hour chart of DXY. Due to the negative news on 01/31/23, we saw a retreat from new highs to the main level of 102.000. I think this could be the start of a new uptrend for the dollar. For tomorrow, I see a bounce at the 4-hour fib. to possibly 102.900 at best. But for this, the dollar news must also be positive. Otherwise, we could return to the lows of 101.600, I think. However, there's important news tomorrow. So be cautious! These news can change direction rapidly!
German: Aktuell schaue ich mir den 4-Stunden-Chart des DXY an. Aufgrund der schlechten Nachrichten vom 31.01.23 sahen wir einen Rückgang von den neuen Höchstständen auf das Hauptniveau von 102.000. Ich denke, dass dies der Beginn eines neuen Aufwärtstrends für den Dollar sein könnte. Für morgen sehe ich einen Anstieg am 4-Stunden-Fib. auf vielleicht 102.900 im besten Fall. Aber dafür müssen auch die Dollar-Nachrichten gut sein. Andernfalls können wir zurück zu den Tiefstständen von 101.600 zurückkehren, denke ich.
NQ CME_MINI:NQ1!
day trade/scalp
after bouncing from the previous circled low, at 11600
it is forming a downward channel
needs to break out of that in due time to see upside
ERs might give the push
R2 11910
R1 11850
and
S1 11720
S2 11680 (the previous base before it had a flag breakout)
will look to short above resistance lvls