Hint: Hordes of Mordor to Pillage the Castle
With the rise of DXY ever closer to the 94 levels as predicted in earlier forecasts, plus the dovish announcements of Powell on fiscal policy, this safe haven castle is set to fall within three weeks. Gold has broken strong structural moats and now spirals into the weekly established from January of 2020. The fall below the intersection of horizonatal monthly structure at 1770 and this indicates strengthening bears at the gates.
Previous analysis consistently proved correct and now gold will attempt a few feeble retraces up before falling deeper to 1680.
MARKET ORDER RULES
Take a market order position upon the confluence of valid entry rules on the 4H or 1H chart.
Trading philosophy: Don’t short at the lowest of the momentum nor do we long at the peak of a impulse. The safest entries are at the end of a retrace on the 38.2%, 50%, 61.8% or 78.6% fibonacci back in the direction of the master trend.
4H chart should confirm that the retrace had turned in the direction of master trend. The should have dropped below zero signifying a environment. Price would have dropped below the 10 and 20 . For good measure, check that the 4h and D1 is below the 50 signal line
4H chart should confirm that the retrace had turned in the direction of the master trend. The should have gone above zero signifying a environment. Price had gone above the 10 and 20 . For good measure, check that the 4h and D1 is above the 50 signal line
I am not a financial advisor nor a signal provider. These are the opinions of a 20-year private trader in the legal profession as well as a businessman diversified in the tech and hospitality industries. My favored tools of the trade include wave analysis, price action on the 4H to Weekly timeframes and institutional order flow.
Trade at your own risk.
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