forexintel / Blog
Looking at the Weekly Chart for EUR/USD, the following points indicate a reversal, low ZZ at a key fibo level, double bottom, yellow locked above black with price below, price below the opening price of the year, month and week...
Hope you were able to enter a BUY order in all this mayhem. My heart goes out to all those who entered a stop loss near yesterday's or previous day's low in gold. Hope we learn something out of this...
I generally do not follow EUR/USD, but the strategy of BUY low and SELL high is applicable to any type of instrument. You can check out my other posts on forex gold prices...
While there is no doubt that gold is on a SELL trend, i see the possibility of a retracement in MN time frame. As of now, there are some indications from level 3 set up but there is no confirmation yet. It is for this reason that i have kept the BUY order open adamantly without closing it...
As can be seen from my previous posts, the price level 1086 seems to be working as the reversal level. It remains to be seen if the price will go to 1110 and reverse down as shown in the second possibility or continue to 1168 as shown in the first possibility (https://www.mql5...
Looks so much like the high ZZ in H4 is the only thing to happen and the price is supposed to go down. Every time frame has yellow locked below black MA. Price going below yesterday's low will be a signal to consider closing the BUY trade that i have entered...
Once again, the yellow is locked above black in H1 and H4 and the price is near a low ZZ in D1. Believe that the price will move to the next level of 1110, at least...
Expected the price to go up in a hurry like a retracement in D1. But the slow speed at which it is turning around, if at all, is reminiscent of trend change in D1 which could be a retracement in MN time frame...
At the close of the previous H4 candle, the price has closed above the MAs. Expect the price to retrace to 1089 before continuing upward, but as mentioned in my previous post, if the price goes below previous month's low, then the analysis is wrong...