GOLD - Heikin Ashi suggests patience
I still can see the bottom pickers everywhere: "Gold bottomed yesterday."
But on the Heikin Ashi chart all I can see is : sea of red.
It's not ready yet. Yesterday we printed a red candlestick again.
I highlighted the previous ICLs by red. I don't feel it's ready yet. The breakout above the trend line a month ago is no question by today: it was a bull trap.
It's the 3rd time MACD crossed over below 0. It's time to see some extremes.
RSI started to print the oversold zigzag. I'd like to see some more of that.
If Yellen calls the bottom in the dollar today gold could start the final phase of this decline.
But on the Heikin Ashi chart all I can see is : sea of red.
It's not ready yet. Yesterday we printed a red candlestick again.
I highlighted the previous ICLs by red. I don't feel it's ready yet. The breakout above the trend line a month ago is no question by today: it was a bull trap.
It's the 3rd time MACD crossed over below 0. It's time to see some extremes.
RSI started to print the oversold zigzag. I'd like to see some more of that.
If Yellen calls the bottom in the dollar today gold could start the final phase of this decline.
הערה:
On the 4hrs chart we perfectly tested back the previous DCL.
הערה:
Before we start to celebrate the H&S pattern I'd like to show I can see only a flag
with a 100EMA test...
with a 100EMA test...
הערה:
Though we have a prior trend but I can't draw a valid H&S on the chart because of the red rectangle.
And I don't believe in oblique necklines...
And I don't believe in oblique necklines...