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GOLD BULL
Feb 13, 2020 at 06:14
เป็นสมาชิกตั้งแต่ Oct 23, 2018
29 โพสต์
Last time i looked at gold (not on here) it was sat at the support area of 1550 area. suggested it could move from there and price has since moved up a couple of hundred pips.
You can see it has bounced from the 0.38 fib a few times, which shows that area is strong on the daily TF.
Whats next? Well i dont know for certain but could we go up to form a triple top? who knows but look out for the top around the 1587 area.
We could then either get a retrace to the 0.38 fib again or even deeper to the 50% rest stop or to meet the .618 and trend for multiple confluences before a gigantic push up. Remember buy low sell high. Look for the spots dont trade in the middle and get caught out
You can see it has bounced from the 0.38 fib a few times, which shows that area is strong on the daily TF.
Whats next? Well i dont know for certain but could we go up to form a triple top? who knows but look out for the top around the 1587 area.
We could then either get a retrace to the 0.38 fib again or even deeper to the 50% rest stop or to meet the .618 and trend for multiple confluences before a gigantic push up. Remember buy low sell high. Look for the spots dont trade in the middle and get caught out
เป็นสมาชิกตั้งแต่ Apr 09, 2019
538 โพสต์
Feb 13, 2020 at 20:05
เป็นสมาชิกตั้งแต่ Apr 09, 2019
538 โพสต์
With the impact of coronavirus I think a triple top is likely. Once they get it undercontrol it will probably coincide with a dump to one of the key levels. I honestly wouldn't be surprised to see the 0.5 or even 0.618 level reached before a massive rally
If you can't spot the liquidity then you are the liquidity.
เป็นสมาชิกตั้งแต่ Aug 16, 2011
110 โพสต์
Feb 17, 2020 at 07:24
เป็นสมาชิกตั้งแต่ Aug 16, 2011
110 โพสต์
In my opinion the shorters should be very careful at the moment.
Look at the trend-line break on silver...
Whilst generally silver moves tend to lag gold it could be the other way around for a change.
Given the economy, debt, virus and raging stock markets I would be surprised if we see gold below 1500 in the near future.
A logical trade would be the triple top, however we are not in logical times.
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