Bull looks strong on the H1 chart but facing big resistance at 35.842 & trendline. If it breaks, I aim for next level 38.166.
Bearish outlook will resume upon breaking 34.333.
Bearish outlook will resume upon breaking 34.333.
GoldenEuro Cross (XAU/EUR) GoldenAussi Cross (XAU/AUD) 51 replies
Gold futures & XAU 77 replies
Daytrade - XAU/USD & XAG/USD 14 replies
XAU/JPY & XAG/JPY 13 replies
Successful XAU/USD traders 7 replies
Dislikedhaha interesting. in singapore, we use man or bro or yo. its the first time i am encountering the word "chum". anyway, i wont say that the long term uptrend has resumed but we will see how it goes.Ignored
DislikedThis is a fork on my 4H chart.
The smaller upfacing fork comes from one beeb posted yesterday I believe.
Price look like the trajectory of a bouncing ball with the bounces getting smaller.
Both forks are upfacing but in the larger and presumably dominant fork price is not getting lower and lower in the fork each time.
From my understanding that is a bearish indicator.
The downfacing fork - price looks like it likes this one.Ignored
Dislikedthis is my 240min GC - fairly obvious what needs to be taken out to turn things initially bullish.....
beebIgnored
DislikedI take it you are saying:
The upper parallel of the downfacing fork (which has held price all night) must be taken out - then price would appear likely to move into the upfacing fork for a bullish move.
If price does not break the upper parallel it remains within the downfacing fork and this is bearish.Ignored
Dislikednot bad grasshopper....
i would just caution that imho it is very rare for there to be a "moment" of trend change - more likely a changing of emphasis or likelihood....
beebIgnored
DislikedThe upper parallel has held.
Price is moving down - looks like it will hit the up fork lower parallel at around 1487.
If that cracks the safety net is the lower parallel of the large (red) up fork at around 1475 or a bit less (all guesswork really).
That basic lower parallel in various variations of much longer term forks has held for some time now.
If that one goes I see price and the 150ma kissing again and that safety net is high tensile steel.Ignored
Dislikedimo there are a number of other support levels beneath the 1470's....
beebIgnored
Dislikedthis is my 240min GC - fairly obvious what needs to be taken out to turn things initially bullish.....
beebIgnored
Dislikedbeeb,
in your this down fork, why the A point is 1505 instead of 1576 ?
your this A point make the fork make sense. but would like to know how and why you have chosen it in 1505.
many thanksIgnored
Dislikedas previously stated it's an unmodified or normal schiff from 1577 high ie the A is moved forward 50% in price but not moved forward in time....the A is 1520.6
beebIgnored