Psydrive01

Psydrive01

Is clear that we have an expanding diagonal with clear 5 waves in for wave 1, now retracing and making ready for a big 3, now seated on the 0.5 Fib retracement but expecting to drop lower to golden zone in confluence with the trend line to Skyrock to the 0.042 range the extension 1.618 from wave 1-2 counting we retrace to the 0.618-0.65 range. With such clear...

Psydrive01 Updated 

When looking to EURUSD the 1st idea popping up is the possibility of a double bottom around 1.08791 level, even if looking quite bearish heading down big time at the moment, we know that markets are driven by algos, buy-side algos are sitting at the golden pocket trying to push prices upwards. It is my personal opinion when looking to the left we find heavy market...

Psydrive01

With a rising wedge formation, a typical continuation pattern is forming and the possibility to see further downward movement at the end of Q4 beginning of Q1 2020 is the most reasonable scenario. It is clear that the pullback we had to the golden pocket and price rejection at that level opens the downside algos to kick the price lower toward the 1st algo target...

Psydrive01

It seems that gold is now on the way to test the previous triangle trend line as support on the weekly time frame, retracing in an ABC is what it looks to be going on now. Even looking to gold turning bullish in smaller TF such as 2-4h with RSI rising up, bullish divergence on the wave trend oscillator, when looking the bigger TF (3D-W) the overall trend is still...