Hi,
The gold price has started to approach a possible buy area. I'll wait for a tiny bounce because of the quite sharp movement downwards and I act after I have seen bullish price action inside the green area.
Criteria count is not so high but the price level (inside the marked area) has worked historically pretty nicely and I expect that this time is not an exception, and criteria are:
1) Channel projection
2) AB=CD
3) Fibonacci Extension
4) Light-blue horizontal line - historically worked price level
5)* Fibonacci retracement
6)* Daily EMA200
7) Wait for a bullish price action inside the green area. Shorter timeframes breakouts from bullish chart patterns, higher timeframes candlestick patterns and etc.
* - Around the marked area
If it was helpful then take a second and support my effort by hitting the "LIKE" button, it is my only fee from You!
Regards,
Vaido
The gold price has started to approach a possible buy area. I'll wait for a tiny bounce because of the quite sharp movement downwards and I act after I have seen bullish price action inside the green area.
Criteria count is not so high but the price level (inside the marked area) has worked historically pretty nicely and I expect that this time is not an exception, and criteria are:
1) Channel projection
2) AB=CD
3) Fibonacci Extension
4) Light-blue horizontal line - historically worked price level
5)* Fibonacci retracement
6)* Daily EMA200
7) Wait for a bullish price action inside the green area. Shorter timeframes breakouts from bullish chart patterns, higher timeframes candlestick patterns and etc.
* - Around the marked area
If it was helpful then take a second and support my effort by hitting the "LIKE" button, it is my only fee from You!
Regards,
Vaido
