I come from the future.
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GOLD
Scalping set up
Scalping set up
I come from the future.
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- May 31, 2024 10:12am May 31, 2024 10:12am
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GOLD Scalping set up {image} {image} {image}
Scalp
I come from the future.
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- May 31, 2024 11:08am May 31, 2024 11:08am
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{quote} GOLD Scalp{image}
End of scalping
Have a good weekend
I come from the future.
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- Jun 12, 2024 5:11am Jun 12, 2024 5:11am
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Is this valid buy set up?
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- Sep 12, 2024 4:52am Sep 12, 2024 4:52am
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{quote} Expecting news to deliver temporary pullback, given the big difference between 2.9% last month to 2.5% this month seems a bit too much. Possibility for headline to come at 2.6 or 2.7%, but it would not change the fact the CPI is falling. But as always market to over react the news, to trap money on both sides.
Gold has been trading in sideways pattern with limited clarity.
However, there are signs suggesting that it may need to decline further before completing the larger wave four of wave five.
On H4 when zooming out, the structure starts to resemble a potential WXY correction.
A clear three-wave structure for the W and another three-wave move for the X, suggesting that we might now see either an ABC flat pattern or a continuation of the WXY formation.
If this is indeed an ABC flat, we could anticipate a five-wave move to the downside.
However, if it continues as a WXY, the price may form a more complex trend with a significant correction in the middle before another trend completes the W leg. Either way, this points to a potential downward continuation in the short term.
Fib retracement levels to the most recent price movement, we maysee a strong possibility of a lower high forming, and be watching for a three-wave pullback to the upside, aiming for a Fib bounce that could present a shorting opportunity in line with the prevailing downtrend.
Maybe,,, only maybe ...... there is growing clarity that we are either at the end of a wave X within the WXY formation or nearing the end of a wave B in a flat pattern. ( we have to be open mind on this option)
The distinction is important, as the end of a wave B typically leads to a five-wave move down, while the end of a wave X results in a three-wave move.
Regardless, both scenarios suggest further downside potential.
I come from the future.
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- Sep 12, 2024 4:59am Sep 12, 2024 4:59am
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I come from the future.
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- Sep 12, 2024 5:29am Sep 12, 2024 5:29am
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GU
Daily, focused on short positions as there is no clear evidence that the downtrend has ended.
Watching for one to three-wave pullbacks and Fib retracement levels as potential entry points for shorts.
Haven't see a significant retracement yet, it's important to note that price doesn't have to stop at the 38% level—it could continue down to deeper Fib levels.
On H4, key resistance level remains higher up, so I'm primarily looking for sell opportunities on the lower time frames until we see a clear break of structure to the upside. 
Without a break of structure, there's no reason to consider long positions.
H1, Fib retracement to the latest downward move.
waititng for short setups, specifically looking for three-wave corrections upward, followed by Fib retracement levels and bearish engulfing moves to the downside.
Given that the trend is down on the daily, 4-hour, and lower time frames, we focused on short trades in this overall downtrend.
Daily, focused on short positions as there is no clear evidence that the downtrend has ended.
Watching for one to three-wave pullbacks and Fib retracement levels as potential entry points for shorts.
Haven't see a significant retracement yet, it's important to note that price doesn't have to stop at the 38% level—it could continue down to deeper Fib levels.
On H4, key resistance level remains higher up, so I'm primarily looking for sell opportunities on the lower time frames until we see a clear break of structure to the upside.
Without a break of structure, there's no reason to consider long positions.
H1, Fib retracement to the latest downward move.
waititng for short setups, specifically looking for three-wave corrections upward, followed by Fib retracement levels and bearish engulfing moves to the downside.
Given that the trend is down on the daily, 4-hour, and lower time frames, we focused on short trades in this overall downtrend.
I come from the future.
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- Last Post: Sep 12, 2024 5:53am Sep 12, 2024 5:53am
- Joined Jul 2021 | Status: Rookie | 3,395 Posts
{quote} GOLD Gold has been trading in sideways pattern with limited clarity. {image} However, there are signs suggesting that it may need to decline further before completing the larger wave four of wave five. On H4 when zooming out, the structure starts to resemble a potential WXY correction. A clear three-wave structure for the W and another three-wave move for the X, suggesting that we might now see either an ABC flat pattern or a continuation of the WXY formation. If this is indeed an ABC flat, we could anticipate a five-wave move to the downside.{image}...
Daily
Zoom in-Daily
5th fractals of W.3 already exceed 100% of W.1. So minimum for a wave 3 is considered to be met.
USDOLLA
Even at Swing low, Showed rejection at Daily OB, But failed to produced an external MSS. Downward for Dolla still on table. Unless a swing failure pattern occured.
This is why i am willing to wait for trap door to open before loading some swing shorts for gold. Untill then, i see upward more than i see free fall. So playing with some scalping.
Riskin' ticks for points!