Wave ⚪iv retraces shallowly at 23.6% and now the graph is making wave ⚪v with a target fibo extension of 50 - 66.7%. However, if wave ⚪iv does not end, it may make an expanded flat pattern to grab liquidity before making wave ⚪v.
The chart enters the supply zone and hits the resistance and if it goes back down below the red ema line and there is a divergence from Macd, open a short by tp at Choch.
The retracing wave could elongated flat A B C down 50%-60%. Along the way there could be a fake TL at 23.6%, a fake S/R flip at 38.2%, a fake W pattern at 50% before bouncing back.
when wave (1) ends, gold will bounce up again to make wave (2) or make ATH. However, if wave (2) ends, it will find a time to open sell.
The Macd signal in TF 4H is above zero and is still bullish, so it is still waiting for bullish momentum to return along with an input signal from stochatic rsi. However, it could be a pullback to continue down.
The chart continues to run sideways between this week's support and resistance trends. And now the inner triangle is braking slightly upwards, which has a profitable range. But even if it breaks past the support level to down side, it will not open short because it must face week's support.
Gold ran between the 2012-2064 price range and is currently in an uptrend, so expect a bullish bar to break through the 2040 sub-resistance level and retest down to sweep sub-liquidity before continuing.
At TF 2H the killing zone begins to appear, so wait for the momentum bars to confirm whether it will go up or down. But overall, the graph has broken the trend but there is still selling pressure.
To make LH before making the next impulse HH wave. This may involve a downtrend continuing pattern trap to create liquidity for the next uptrend return.
, entering the manipulation zone, can only go down if a bearish bar closes below the flip zone, otherwise it is likely to be an accumulation of liquidity.
US30 bounced at the 200 ema line with a beautiful candlestick pattern and is likely to continue up. So we looked for a target using fibonanci which found an overlap of 161.8% and it is possible that US30 is running in an uptrend channel.
Oil has broken out of the resistance trend and retested and is likely to continue rising. The buy order is placed when it can break out higher high and the RR remains at least 2.
, 2 plans: 1) Place a short order when there is a bearish bar below the flip zone. 2) Place a buy order when the chart crosses the 2nd trend resistance line and shows a bullish property.
Gold encounters resistance and may retest at the blue 4H trend line first.
Upward reversals are also supported by candlestick patterns and divergence. However, downwards are supported by chart structure and hidden divergence as well. Therefore, we will continue to focus on downtrends by looking for opportunities to open sell orders when candlesticks fall out trend line in TF 15 min.
, there may be a bounce back where you have to break the trendline and flip zone before you can find a momentum to open a long order. Now there is divergence so wait to open a short order when the graph breaks out the trendline down.
, dropping wave 5 of (A) target fibo projection at 76.4-85.4% which, before dropping,pullback to make a sub-wave ⓑ.
, since wave ⓒ in truncated ZZ projected more than 61.8%, it may be impluse wave 1. Therefore, the price levels for closing long positions are set as shown in the figure.