monitoring the bearish sentiment in Gold, I have no position at the moment but monitoring Bearish ABCD pattern on the Daily 1) notice the double top from the bearish cypher (A leg) to the Bearish Crab (B) leg 2) Gold hasn't retraced to B leg of the bearish crab (yellow circle) 3) A breach of the B leg of the bearish crab, threatens to invalidate the bullish uptrend 4) Bull Flag set up w/ a bounce from B leg of the bearish crab, something I'm monitoring closely 5) there already has been a positive bounce from B leg of the bearish cypher..
I will also be monitoring the 30min & 1hr time frame of Golds Money Flow and AD.. Not trading or investment advice. Please do your own due diligence
No position, when I do take one i'll likely short DUST or JDST
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1hr chart shows bearish divergence by the AD and multiple rejections
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I can also see a double top from Sept 12th - Sept 17th
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30min view w/ AD
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AD view of the 30min chart.. notice the 50 day moving avg has been under the 200 day for over a month.. the AD is attempting a bull flag, but any pop is likely to be shorted, providing a decent entry for calls on JDST or DUST
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and I know it to be bearish by the triple top Price Action/AD & Money Flow/ichikou Spann on the 15min chart... i
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the head and shoulders is visible on DUST 30min time frame but also showing oversold monitoring for entry
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im actually looking for a pop to get into some calls for DUST 2x bear gold etf not trading or investment advice. this pop will make the entry cheaper
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it hit my target?
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and now waiting for a possible rejection of the 200 ma by the AD... waiting for confirmation