In January of this year, a clear and well-respected swing zone began to form. The bottom of this zone held very strong support yesterday and today, and broke clean through the top of the zone today. I see a good entry in a potentially very high upside trade. There is a resistance zone from ~$70.80-71.80, so my soft target is right below that zone. However, I am...
Gold is sitting in a swing zone that was established firmly in May 2015 and has been a significant level ever since. I believe gold is at the tail end of this recent downswing, sitting on a significant level, and readying a retrace. My target is the 0.5 fib retrace of the most recent downswing: $1261.90. Gold also dipped into the oversold daily RSI twice in the...
2.7 level support established in May. Respected on 7/19 and a quick retest today. Unless it dumps into close today, I consider this a daily reversal candle. I expect a 50% retrace of the most recent downswing for a ~5% gain in the next 1-3 weeks.
Entry: 2.731
Target: 2.863
Stop: 2.648
Daily Ichimoku cloud has been fully bearish for a while now. We just got rejected by Kijun resistance, also a hidden bearish divergence has formed. I am long term bullish, but will have a short open for the next few days, likely.
Note: A hidden bull divergence formed at 6500 before we ran up to 9k.
Daily trend turns bear. Bearish Williams Fractal sits at 2532, close below that level could be a nice short entry.
Possible bull scenario -- bull div forms and plays out on daily RSI.
