nikdobii

nikdobii

Simple Trading: Head and Shoulders Pattern With the price topping out at 3440 , gold is now making a pullback to clear some LOWS. Watch 3375 If gold remains under 3375 , the price may continue to fall. If Gold rebounds above 3375 , we should see the price start to consolidate as buyers will try to take control. **Keep in mind, the price has already made its...

nikdobii Updated 

We await the price to confirm the last step (6) to complete the distribution Phase. The price has fallen to SUPPORT as we predicted. Once a LOWER LOWER is formed, the Distribution Phase is complete. Expect gold turn to remain bearish. Falling as low as 2815. BULLS : If the price can respect the support and bounce back above 2910 with strong bullish momentum, we...

nikdobii

Simple Trading: Distribution Phase First, we can see that gold has started to consolidate. Once we see this, we look back at previous candles to identify the patterns in this phase: (1) preliminary resistance (2) the last buy (3) a retest to confirm support (4) confirm resistance without making a higher high. (5) Higher high (typically a FAKEOUT) We are...

nikdobii

Simple Trading: Rising Wedge Pattern GOLD has been trailing up for the past week. The Price of gold has currently broken below the rising wedge pattern, which means a huge sell-off may occur. At the moment, we are waiting for the retest of previous support to confirm new resistance. Once the New resistance is confirmed, we will see price reject the 2680-90 area...

nikdobii

Simple Trading: Descending Triangle Nas100 has been trailing down for the past week. if the price breaks below 20,700, then the bullish momentum may be loss. Expect Nas100 to continue to bounce from one end of the triangle to the other end. Once the Triangle is broken, we can reveal the exact target area. Keep in mind that the last 4hr candle has closed below the...

nikdobii

Simple trading - Wyckoff Event This is an extremely short-term pattern, and there is not much to explain here. Other than this, the pattern/event happens when the market makes a big dip and starts to consolidate. AKA "accumulation phase" Expect the market to fall back down to the previous support area 2595-2585. After this fall the market should reject support...

nikdobii

Simple Trading - Wyckoff Event If the event has started then the dollar index will have one heck of a year coming into Q1 and Q2. Watch for volume change on the intraday day time frame and expect the trend to continue bullish. Long story short the DXY is growing strong with the rise of BTC and Donald Trump being elected President. Targets: 109.40 - previous...

nikdobii

Simple Trading - Ascending Triangle Gold is overall bullish so if the pattern breaks, it should break to the upside. Of course, if gold can not maintain bullish momentum, it may result in a further decline in the price. This pattern may not break out until the end of Dec. maybe into Jan. with this in mind we are still about to take price action trades on the...

nikdobii

Overview: Gold and silver have outperformed most other "safe haven" assets. These precious metals are ending the year with remarkable gains. Investors have flocked to them as hedges against inflation and market volatility, helping to drive their values upward. Price: The Bull trend started back in March! (2040). Nine months of continued bullish price actions and...

nikdobii Updated 

Long story short... The market is currently playing inside the zone 2625-2655. (30pip range) Gold should maintain above 2615. a Close below this level counld invalidate the Bump and run pattern and continue with more bearish pressure. Its NFP week and you know the USD has been gaining strength. Wait for the breakout above 2655 before entering another Buy. We need...

nikdobii

Let the Trade ride! Understand pullbacks will happen but the price is in motion. Respect the trend. Gold has officially broken about the accumulation phase. Price has retraced back to previous resistance confirming new support. (2675) Keep in mind: Today Core CPI m/m and CPI y/y Thu Dec 12 Core PPI m/m and PPI m/m **Both of these red news events could shift...

nikdobii

Simple Trading - Bump & Run pattern The 4hr chart has given us a beautiful setup. Before the run, the first entry was after the impulse trend was broken. Then, we waited for the price to make the second confirmation by breaking above the main "3 touch" trendline. With Gold remaining bullish after the DXY rose higher and higher, it only proves that gold is...

nikdobii

Overview: Gold and silver have performed remarkablely in 2024, emerging as the two best-performing assets of the year. Precious metals often serve as safe-haven assets during times of economic uncertainty, and this year has proven no exception. Investors have flocked to them as hedges against inflation and market volatility, helping to drive their values...

nikdobii

Simple Trading - Expanding Wedge pattern Gold has broken above the expanding wedge and is now pushing for its target (2615). Expect gold to continue to the previous High (2600) and make a higher high. If the Expanding Wedge pattern plays out correctly, 2615 should be the next target. Keep in mind that there is strong resistance at the 2600 price level. Expect...

nikdobii

Simple Trading - Triangle pattern Gold has broken from its bullish momentum and is now finding support in the triangle around 2505. Expect gold to continue to the previous low and make higher lows around 2490. If the Triangle pattern plays out correctly, the Price will break bullish above the recent highs and continue to the target. Keep in mind that 2 or more...

nikdobii

Simple trading - Triple top Gold has managed to resist 2500 three times. Unable to break above 2475...Gold has broken from its bullish momentum. Expect gold to continue to the previous low and make Lower lows. *These are my thoughts, not financial advice.

nikdobii Updated 

Simple Trading - Head and Shoulders pattern -PLEASE READ BELOW- Gold has broken from its bullish momentum and is now finding support at 2350. Expect gold to continue to the previous low and make Lower lows. If the Head and Shoulders pattern plays out correctly, 2400 should be the Highest gold goes before reaching the target. Keep in mind that 2 or more candles...

nikdobii

Simple Trading - Cup and Handle pattern Gold has made a break from its bullish momentum and is now finding support at 2380. Expect gold to continue to reject the previous low and continue to make higher lows. If the Cup and Handle pattern plays out correctly, 2380 should be the lowest gold should go before reaching TP1. How to trade the pattern: Entry 1 is the...