A-B-C-D Trade - page 120
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OK, Gold entry effected at 19:30 open of 15-min candle. $1408.20
The 18:30 BAJA divergence candle was interrupted by the U.S. holiday.
The next one at 02:30 had entry at open of 03:15 candle price of $1410.60. Currently, having just broke aforementioned trend line, sitting on the 23.6% retrace fib of $1406.
That retrace fib is based on Feb 18th 22:30 low of $1386.70. Large plots increase probability of 23.6 being a factor.
Gold approaching 38.2 fib of $1402.30, and good time to get off the train for +70 pips gross.
We can move the low to get more or less fib levels, to suit where you want to get off.
As with Gold, EUR/USD broke out to the downside during Asian. Plot low from Feb 18th low to high, produce 38.2 fib 1.3649.
This support was broken at 00:30 and thrust down to the 78.6 of 1.3580, also the 78.6 fibo fan line, and attempting a 100% retrace to 1.3544. Did someone say bounce?
Open of week had a 1-hour Bearish Bat.
Last month S&P downgraded Japan's credit rating. Today, it was Moody's turn.
Also in the pipeline, more unnecessary comments from ECB about rate hikes to fend off inflation. This was a "warning".
Caution with Yen and Euro pairs today.
Meanwhile, Gold pivoted at the 38.2 and swung below Point B to the 50% fib $1399.30thus far.
The cluster is the FE 100, same as the 61.8 = $1396.30
Well, might as well throw in renewed Portugal debt concerns into this growing basket.
EUR/USD BAJA divergence on 07:00 30-min candle. Entry triggered 08:45 at 1.3551. Pair also just broke out of triangle, and now at 1.35621, which is 23.6 retrace fib and previous Point B.
Next level up is 38.2 = 1.3584.
edit: forgot to add that earlier, S&P released statement that projects ECB raising interest rate during summer.
Gold 30-min chart with Gann_SQ9 indicator.
A 38.2% retrace prior to extension. The up trend pivoted at the 360-degree level (blue), which was the 138.2 extension (yellow fibs).
A slight overshoot of the 200% extension level, to near 720-degree, before coming back down to the 138.2 today (360-degree).
As posted earlier, the BAJA caught the top, and went for 70 pips to the 38.2 retrace fib (not shown).