Gold Update Emerging Intraday Ending Diagonal - forex trading ea reviews

Gold Update Emerging Intraday Ending Diagonal ~ forex trading ea reviews

As part of the bullish reversal in Gold, I discussed an end of wave 5 formation on 11th November and I followed it with a buy order which went well. 

I posted intraday price updates on 13^th November and 17^th November which all went well to support the bullish move.

The general trend is still down. The recent bullish move is a typical ABC correction format and in short time, price should crash downward.

Presently, the C leg of the ABC correction is forming an ending diagonal which should complete at resistance zone (1210- 1230), a 161.8% extension of A from B. 

If price gets to this region and breaks below the support zone of the diagonal, then we could see a real move downward in a 5-wave motive move to 1000. 

I will update you here as we get more action from price

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Is Usdcad Ready For The Bullish Resumption - forex trading demo reviews

Is Usdcad Ready For The Bullish Resumption ~ forex trading demo reviews

If you want a comprehensive analysis on Usdcad, you can read the one I did on 20th of this month. The analysis supports a bullish move.

The recent bearish movement we had ( if completed) is a bearish complex correction and I expect Usdcad to rake high to 1.1850 ( more than 500 pips away) in a new bullish motive wave.

Coupled with the fact that Usdcad has a very strong negative correlation with Oil price which is dipping so fast, I won’t be surprised if the move is very fast to the north.

I will wait for an intraday retracement to 1.1310-1.1300 before taking a long bullish adventure on Usdcad

Meanwhile, I have a new wave count which doesn’t contradict my bullish bias

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Gold Update Still maintaining bullish correction - etrade forex trading reviews

Gold Update Still maintaining bullish correction ~ etrade forex trading reviews

On 11th November,I posted an analysis on Gold here.

 I wrote about the end of the first impulsive move that broke the long term weekly     ( wave 4 ) corrective triangle. I labelled this impulsive move on the intraday chart as the first wave of wave 5 ( to complete the long term bearish trend).

Gold reacted to the end of the impulsive move and look ready for the correction properly. 

Presently, price is consolidating in a triangle corrective pattern and if it manages to break out of it, we should see further intra day rally for another 300pips before the bearish trend continues. 

A break below this triangle will call for an alternative count. We should be ready to flow with the price and with what help can we do that better?....If not elliot wave analysis.

I will keep an update as price advances

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