Sorosnotsorrow

Sorosnotsorrow

After last Friday's announcement of PBOC has ceased buying any more gold, originally to hedge inflation or sovereign risk leading gold prices on a massive retreat; by said announcement gold might be forming a head an shoulder pattern with a neck line indicated by the blue horizontal line. My position of gold remains short with a take profit at 2120, I believe that...

Sorosnotsorrow

As stated in my previous post: The US30 seems to have formed an harmonic pattern, in this post I have labeled XABCD as well. I have started to enter some short trades on an average of 39683, trading CFD based on future pricing with no overnight interest, instead of spot CFDs that might require to pay overnight interest, makes a hell of a difference at...

Sorosnotsorrow

Currently for DJ 30; an harmonic pattern formation might be on the horizon, current box would indicate that reversal will take place from 39443- 39686 The next big marketing event will be US Fed Chair Speech at 10 pm on 14th May (GMT+8) Will be worthwhile to see how DJ reacts, or even so maybe plant a small position 30% of your expected net whole position if...

Sorosnotsorrow

For the XAUUSD short trade, please see my analysis prior to NFP here: So gold prices did respect the support now changed resistance level of 2325, gold prices popped back up to 2320 before closing out the week at 2301, with 2280 currently being a support level for gold. Overall speaking I still stand along my perspective of shorting gold and with my TP1 at...

Sorosnotsorrow

For my short USDSGD trade this will currently be the last post, as I have exited all my positions. As mentioned earlier just before NFP, I had closed out half the trades before NFP; and the other half I rode with NFP. After the data was released my TP1 at 1.3475 was reached and my trades were closed out and I will be not chasing another short opportunity...

Sorosnotsorrow

Will post my detailed analysis later, but can also look into my previous post here If ABC is really forming, BC extension at 1.272 and 1.618 of AB will be hitting close to my previously forecasted take profit targets of 2200-2195 and 2130 - 2125. I have closed half of my positions going into NFP and if gold shifts upwards, it will be an opportunity to...

Sorosnotsorrow

Following up from my previous post on the 21st of April This trade has progressed along my expectations, as indicated by the three orange circles, there were two retest and the one that's highest contained a bearish engulfing formation on the 4H chart , which also formed a lower high of 1.36596 in comparison to the high that was formed on 16th April of...

Sorosnotsorrow

For USDSGD The initial retest on breaking the triangle seems to have been completed. Price action seems to be still ranging between 1.3635 and 1.3595 from the start of the week till now, and the lower boundary as illustrated by the lilac box has been tested multiple times from the start of the week till now. My position remains same as before I am still short...

Sorosnotsorrow

With regards to XAUUSD right now, as mentioned on my previous post on 21st April, price action on the hourly candles will dictate whether or not I will do range trading or between 2324,2325-2420, currently it seems I won't be opting for range trading, as there is a clear break on 2324-2325 levels. Based on my post that on 13th April , I am assuming that XAUUSD...

Sorosnotsorrow Updated 

With regards to XAU USD right now the price action for last week has been mainly in a range from, between 2324 to 2420. On one side the previous top of around 2430 has not broken, the weekly candle on the other hand signals somewhat of bullish strength and I personally would be more comfortable if the price of gold resulted in a drop for the previous week...

Sorosnotsorrow

So for USDSGD, an harmonic pattern has formed, with the top of 1.36720 being retested and forming a lower high of 1.36591. I have added another indicator on this chart and currently said indicator aligns with my outlook of shorting USDSGD. If we were to short this position we would be looking at: 1:2.64 ratio at the 0.382 profit level @1.34746 & 1:3.78 ratio...

Sorosnotsorrow

XAU USD Mid Week Update So a couple of 4 hour short wicks have formed on top of the box that was bracketed out at 2385, forming a lower high then the previous high, temporarily at least for now. The bottom of the box 2322 - 2323 has also been respected by last nights long wick candled that briefly touched and bounced back up. My view on XAU has not changed,...

Sorosnotsorrow

Harmonic pattern forming on USDSGD day chart with potential turning region at 1.36380 - 1.35945 Will be monitoring hopefully price will go touch 1.36395 and retrace then will be a good opportunity in selling

Sorosnotsorrow

Wave 3 of Gold Completed? Part 2 Towards the last 6 hours of market close on 13th April (GMT+8) Gold prices plummeted from ~2430 down to 2344, a drop of near 86 USD, forcing the weekly candle stick into a shooting star formation. And if we now use fibo retracements on the 2-3 leg, 0.5 retracement will be around 2121 just below the quoted resistance changed...

Sorosnotsorrow Updated 

Wave 3 on Gold Completed? Based on current pricing 1) XAU price would be at around 2385 for 2-3 to hit a 1.272 extension on 0-1 2) An ABCD pattern might have formed in 2-3, at a 1:1 ratio, using the high of 2067 as B, which is close to the resistance now support at 2135-2130 at my previous post 3) 2 is a deeper retracement at 0.618 of 0-1, thus if gold was...

Sorosnotsorrow Updated 

Gold has broken 2135-2140 on the daily chart If it retracts from current high, there's likelihood of using 2135-2140 range for it to start it's last rally signifying the start of wave 5.