Spider's Den

anothe pending buy trigered 1.3584 .
I took 1/4 @ 1.3600


aligater

closed 3/4 1.3607

Why Gold stopped where it stopped:

see the green colored EW base channel

Channeling for perspective: EURUSD

1. chart daily TF

2. chart 4h TF see how it respects Fib levels

3. chart 30min TF see how Fib levels (retracements) work as supply/demand levels, see what Fib fns can do

4. chart 15min TF

5. chart EW count 1h TF (overview)

6. chart EW count 1h TH (last moves)

Friday...as always can be tricky. Eu looks like it might move higher, still lets react accordingly.

Bullish levels: 3630 > 3635 ( bullish continuation)> 3642>3650>3658>3663>3672
Bearish levels:3609 > 3605 (bearish continuation)>3604>3596>3588>3580>3576

Median point: 3620

Good morning fellow traders!

Moin Markus!

Schön schön ... hab schnell mal drauf geguckt ... reicht ... kommen wir aber bitte lieber zu einer verwertbaren Meinung ...

All we can say now is ... we are in a "sell all the rallies mode" ... Euro is not expected to see a big recovery (sold something while writing now at 1.3644) and it is more likely that this week number 45 will close in lower territory ...

Upside will be capped soon ... end of bullish move situation ... levels können der vorläufigen Tabelle entnommen werden ... maybe we see max. 1.3680 - 1.3731 maybe not as well ... but risk is growing on the downside ... 1.3560 will give way for 1.3509 and 1.3484 again ...

Cross of below 1.3484 and you can forget the upside ...

Otherwise ... random spike above 1.3750 will give respite only ... will delay but not cancel the downside views ...

Only a sustained move above 1.3786 would change the picture ... not very likely from current environment ...



palim palim




;-|

Here you go Infinitus
This is your Golden Forecast as promised


Weekly
Gold is almost done its up move and its entering an area of the circle, where momentum starts to discipiate and speed of advance slows down. We can see the first signs of reaction of this phenomenon in the drop from 1900. General behaviour after such a drop is to slowly phase out of the perimeter of the circle. So for some time to come we will be within the 1600-1900 range with lower highs being observed, until the second drop comes which will take us to 1500 zone

Daily
Since the daily chart of Gold does not offer a lot of points to work on, we need to draw conclusion by the way that we see the red/black circles are rolling. This rolling action is inwards as shown by the arrow on the chart
This usually happens when movement starts to slow down and loose momentum. So all that can be said at this point is another sign of Gold loosing momentum. There is one important observation here to be made and that is the black circle.

Price action is trying hard to maintain a support within that circle. If it can do that which is highly unlikely then the only way that it can propel itself to higher levels is to generate a hard bounce upwards from the pole of the black circle.

Given the fact that the poles of circles are one of the best places to generate a strong thrust, the more that time passes away from the pole, the greater are the chances that such a upward momentum will not be generated and Gold will be destined to fall.

H4
Motion will continue upwards breaking the perimeter of the red circle and finding resistance at the blue curve. After that we should see a sizable reaction downwards towards the blue straight line.

H1
Price action will certainly use the blue circle as its support base in trying to go above the red circle towards the pole of the green circle where a stronger resistance is located which it can use to generate a sustainable bounce downwards.

However right now from the nature of the bounce off 1730 its not very indicative of a strong upward move that can do much penetration towards the red circle. So a strong possibility is that the bounce that has started from 1730 will hit the red circle and then slide downwards towards the 1700 region, which then it will have a sustainable thrust to by pass the red circle and go upwards. So there is a spike action upwards thats missing.

The question is from whereabouts the perimeter of the red circle this thrust will be generated, which it cant be said at the moment.

So upside right now is capped and there is a high probability for a drop to 1700

Scalpers hint: Breakout of median point is always good to take profits. Observe PA. 3620>3609 +11 pips in 1 min

2nd breakout of median point +15 pips

PA is clearly bullish. I may say that if 3609 stays firm today we can see 3715. Price failed to close below 3609 ( bearish continuation) 4 times.

Hehe, really great Friday. Thank you market

Partial profits (95% of previous entries) at 1.3604 ...

+ 40 pips in a very short time ...



;-|

Look at this. All the dips towards 3609 have been bought. Failure to close below 3609 gives us a bullish tone so far. Buy the dips above 3609

Re-entered at 1.36627 ...



Furthermore pendings at 1.3670 ... 1.3681 ... 1.3730 ...

Jedes mal um etwa die dreifache Menge größer ... best method today ...



;-|

3645 bought again. Look how they have been buying it.

http://clip2net.com/s/1jeQU

USA holiday today so start thinking about closing before 12 gmt...

Moin Moin,

flying high or what?

But maybe you missed my different analysises yesterday, where I talked about different scenarios with an ideal top of around 3671

Completely agreed Markus. I have the number 3672 also, posted levels this morning.

If 3672 is broken i can see 3715 3750 soon. By the end of the next week it could go much higher....

Partial profits again ...

At 1.36427 ...

+ 20 Stellen profit again ...



;-|