Following the Vumanchu Cipher B Divergence at the bottom of my chart: every golden dot has been followed by a pump to where the last drop happened. From there on we saw a drop to form a lower low and work our way through to the previous top.
This could likely be the move that brings us to that famous 3 400 level a lot of have been wanting to at least close to continue towards a downward trend and for bulls to form a stronger support around 3 333- 3 310.
The fan fib resistance 0 towards the bearish case has been put on the 2nd lower high on that 45 minutes timeframe to create a middle balance for shorter term analysis/scalping. Same thing for the fan fib showing rebound levels for the bulls has been targeted at the 2nd high of the same time frame.
The elliot waves showed on the chart are for potential price action speculations plays only please take it with a grain of salt. You may grab the chart and delete those if you wish.
I personally will be scaling my way in for a long position and will be expecting a drop from 3 385 ish and will be waiting for PA to re-analyze my bias.
Best of luck to all
This could likely be the move that brings us to that famous 3 400 level a lot of have been wanting to at least close to continue towards a downward trend and for bulls to form a stronger support around 3 333- 3 310.
The fan fib resistance 0 towards the bearish case has been put on the 2nd lower high on that 45 minutes timeframe to create a middle balance for shorter term analysis/scalping. Same thing for the fan fib showing rebound levels for the bulls has been targeted at the 2nd high of the same time frame.
The elliot waves showed on the chart are for potential price action speculations plays only please take it with a grain of salt. You may grab the chart and delete those if you wish.
I personally will be scaling my way in for a long position and will be expecting a drop from 3 385 ish and will be waiting for PA to re-analyze my bias.
Best of luck to all
Note
If we do form another lower low and aim for the equal high, please keep in mind it's going to be the 5th attempt at that level and we could be seeing a breakthrough, everything has been making an ATH and gold might be itching to join the party *
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.