Gold Gold Daily Video, March 11, 2020

[Sive Morten]

Good morning,

Gold shows more bullish rather than bearish performance. As bounce up from K-support area has happened, we start to watch for second chance to enter the market, based on potential bullish grabber:

 

[minimax]

It is tricky.. I see an option as Flat-AnyCorrection-ZZ into B but it can also be something else..

 

[ELTE. ED]

Thanks Siv.

 

[abailey]

Sive, is their a link to download the MACDP indicator?

AB

 

[soul rebel]

Sive, is their a link to download the MACDP indicator?

AB

Indicators for free download

Here is guys, some indicators that we use in our day by day work.

www.forexpeacearmy.com

 

[abailey]

Indicators for free download

Here is guys, some indicators that we use in our day by day work.

www.forexpeacearmy.com

That has the MACD but not the MACDP. Is that available somewhere?
AB

 

[Sive Morten]

Greetings everybody,
It was a correct decision to wait for confirmation of the daily grabber, because situation has changed drastically by the evening and grabber has not been confirmed. This breaks scenario of immediate upside action and suggests deeper retracement on the market:

Thus, on 4H chart we consider AB=CD pattern that creates Agreement support with next 5/8 Fib level. Potentially this is "222' Buy pattern as well:

On 1H chart we keep watching for the same AB-CD, but now turn to XOP target. It stands in the same area and also creates an Agreement with the same Fib level. If there will be no collapse, it again should be relatively safe to buy the first touch. Technical response should give us chance to move stops to b/e as it was yesterday with our OP entry point. In general overall price action looks choppy that is more typical for retracement type of action. This is the reason why we mostly consider bullish setups.