Chart Review GOLD (XAUUSD) 17 Jul 2013

I always prefer to look at GOLD chart at the bigger time frame. It gives me a better picture. Let’s have a look at Spot GOLD (XAUUSD).

Here is the Daily chart of Spot GOLD (XAUUSD). It is trading slightly below 1300 area. My immediate upside target is around the 1337ish which is also the 61.8% Fib retracement with confluence of the upper band of daily channel and previous support turns resistance level.

GOLD D1 17Jul2013

17Jul2013

In the perfect scenario (which rarely happens..), I am looking at the resume of downtrend at the resistance zone mentioned above, and continue moving to complete the 1 to 1 projected movement (as shown in the green lines)

Let’s look into more detailed H4 chart.

A potential harmonic pattern is observed in H4. At the same resistance zone around 1337, as observed from Daily time frame, a bearish Gartley is forming. Although it is important to note 1300 will provide some pretty good support should GOLD break up from here.

GOLD H4 17Jul2013

GOLD H4 17Jul2013

 

That’s it, we have marked down some important levels to watch, and potentially do some businesses. Let’s “wait and see” now.

$AUDUSD 30 JUL 2012

Not trying to call a top, I just thought it might not be the best time to jump into LONG position now. Anyway, just a small observation, ABCD completion at the top of the channel.

Here is the…. CHART!

$AUDUSD H4 Harmonic setup

$EURGBP 20 June 2012

Just want to make a short post about EURGBP.  Are we looking at the repeating pattern, and symmetrical movement here?

 

$EURGBP Daily

$AUDJPY 20 June 2012

Here is the potential symmetrical movement I am watching while AUDJPY approaching 82.50/80 resistance zone. �Of course, market is never perfect, let’s see how this plan works out.

AUDJPY Symmetrical movement

$AUDUSD $USDJPY 29 March 2012

[tab: Asia Morning]

Looking at potential completion of ABCD at the lower channel line.

$AUDUSD 29 March 2012

$USDJPY 29 March 2012

[tab: End of Tokyo session]

Check back later for chart update after close of Tokyo session

$AUDNZD 01 Mar 2012

Here is a potential completion of harmonic pattern in $AUDNZD. I am looking at 1.29 for potential short setup. This is a trend continuation pattern, and I am looking at the resumption of existing downtrend.

Here is the …. CHART!!

$AUDNZD Bearish Harmonic setup