Gold Bearish Reversal Signal Confirmed | #Gold $SILV #forex $USD
Friends,
A bearish market reversal signal was emitted from my prop system, defining new bearish targets, namely:
1 - TG-1 = 116.76 - 28 APR 2014, moderate-probability
and
2 - TG-Lo = 115.38 - 28 APR 2014, low-probability
While this signal is offering a dominant directional bias, one should remain open to frustrating contingencies. Therefore, let us define what value range could impose resistance if price were to rise any further and still maintain an overall bearish overtone.
In the chart, I have defined a resistance range between 131.49 and 132.48. While the current signal is bearish, price may still find a leg to that level of resistance without contradicting the bearish signal. Therefore, a break ABOVE the 128.25 line should open the trader's mind that this interim possibility.
Conversely, if price were to go immediately in the direction of the bearish targets, the trader should perhaps consider added confirmation, such as a breach BELOW the 122.84 line.
These validations through price action may appear too conservative to aggressive traders, so a partial positioning might also be a possibility in your game, if you were not the type to wait.
OVERALL:
Again, the predominant directional bias here is bearish, based on a non-price prop system. While a decline is expected in such clear-cut signal, the trader should remain prepared to interim price action that may first appear counter-trending before dedicating itself to target completion. Using structural level as trigger lines may be the most conservative and prudent approach, if you considered trading this metal's chart.
Cheers,
David Alcindor
Predictive Analysis & Forecasting
-------------------------------------------------
Follow my signals, analyses and forecasts on Twitter.
- Alias: 4xForecaster
-------------------------------------------------
A bearish market reversal signal was emitted from my prop system, defining new bearish targets, namely:
1 - TG-1 = 116.76 - 28 APR 2014, moderate-probability
and
2 - TG-Lo = 115.38 - 28 APR 2014, low-probability
While this signal is offering a dominant directional bias, one should remain open to frustrating contingencies. Therefore, let us define what value range could impose resistance if price were to rise any further and still maintain an overall bearish overtone.
In the chart, I have defined a resistance range between 131.49 and 132.48. While the current signal is bearish, price may still find a leg to that level of resistance without contradicting the bearish signal. Therefore, a break ABOVE the 128.25 line should open the trader's mind that this interim possibility.
Conversely, if price were to go immediately in the direction of the bearish targets, the trader should perhaps consider added confirmation, such as a breach BELOW the 122.84 line.
These validations through price action may appear too conservative to aggressive traders, so a partial positioning might also be a possibility in your game, if you were not the type to wait.
OVERALL:
Again, the predominant directional bias here is bearish, based on a non-price prop system. While a decline is expected in such clear-cut signal, the trader should remain prepared to interim price action that may first appear counter-trending before dedicating itself to target completion. Using structural level as trigger lines may be the most conservative and prudent approach, if you considered trading this metal's chart.
Cheers,
David Alcindor
Predictive Analysis & Forecasting
-------------------------------------------------
Follow my signals, analyses and forecasts on Twitter.
- Alias: 4xForecaster
-------------------------------------------------
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