Daily fibo zones for 1st of June, PDF format, please enter a 3 digit code in the right hand corner once you follow the link, thank you! Download PDF Daily Fib Zones

Pitchfork setup on USD index daily charts, let's see if we revisit line number 1, approx 87.

A brief update with fibo clusters, on 30-min euro charts.

Pitchform setup on 1-hour chart, see if 2940 holds.

4 hour yen setup with an alternative PHI ellipse, +/- 10%, can't scale properly with MT4 platform, we might have a nice gartley pattern developing, enter on strong rally w/t RSI confirmation above 112.8-90 target is the PRZ rectangle in blue, then attempt shorts if this scenario unveils on tuesday.

Ok, as a follow up to this chart below, you could either enter long once the ellipse is pierced to the upside, that would confirm complex wave 3 in progress, alternatively, we will dip further down to 110.20-110.60 and once we reach out the mid point on the ellipse you could enter long, since this will indicate a change of direction.

Both scenarios are a possibility, Im currently trying to establish if there is a possible butterfly pattern unfolding on 4-hour yen charts, it's a bullish gartley, I will post a PRZ and see if this comes into agreement w/t the scenario.

Here's an alternative setup for yen, if we are currently in an uptrend and in complex wave 3 up, we will see the ellipse pierced in the blue rectangle region, see if the resistance holds there and the price action doesn't turn to the downside, if price action reverses down, we might see it reach the low midpoint of the ellipse.

Here's a possible setup on yen, 4 hour charts, we are expecting news shortly, so let's see if the scenario plays out the way I want it to. Targets are the medianline and marked in blue rectangle.

Im looking at scenario number (e) to unveil on spot gold. By the book example.

Ok, that's the possible phi ellipse I setup on 4-hour charts with end point @ wave 5 extension, see if we pierce that ellipse with a/b/c correction

Here's a phi ellipse on daily spot gold charts, what this shows us here is that price action is contained within, Im waiting for a new downward sloping ellipse to shape up, possibly from A to B, so that we get a nice retracement within a smaller ellipse, and then it's a good a/b/c, for targets reffer to previous posts. Note how the region, where I see the smaller phi ellipse being pierced comes into agreement with the spiral, this is the support and breakout region, where a/b/c correction will most likely initiate.

Will be watching closely that setup, update @ asian.

A dollar index chart w/t a spiral build on a/b/c correction in downtrend, now Im not confident about the 5 wave downtrend, because the fibs are not there to support the count, however it's clear that we are not to test 87 w/t dollar index and then get a retracement and dip to new lows.

Here is a daily spot gold chart w/t a spiral build on the a/b/c correction in an uptrend, notice how well it predicted a turning point @ 720-730 range, where price action rejected and retraced lower.

This chart is a spiral chart for daily spot gold, Im looking for a clear reversal signal on the touch of the spiral band number 4.

There are certain rules to plot spiral, one is that anti-clockwise spirals work better in finding major support/resistance, also you have to select center and start of the spiral.

Most efficient spirals are based on ABC patters, corrective patterns within a downtrend or uptrend. I will post another example on gold, to show how spirals could be used to forecast turning points in strong markets.

Ok, here's a pattern on cable, please note that we have confirmation w/t RSI, however please wait for a decent price action retracement, my entry is 8740/8700/8640, Im confident we will revisit these levels b4 a dip to new lows, for targets please refer to the chart.

Okay, finally we got a cable chart w/t a possible scenario for next weel, the price action is rangebound within downtrend channel, please zoom in the chart for possible trade setups.

Also, please note, previous calls are only good after we make another try for 840-860 on euro, you can enter on 1-hour charts once we reach 840-860 and look for RSI to peak out and head lower, short, targeting 2740-2760 initially. Then you can retun to the calls I posted yesterday, and short more lots @ 2740, the break will happen 30 of may-6june in that timeframe.

Here is a 4-hour chart on EURO, marked in red triangle to watch for a break and further dip below current trading range, however we will apparently revisit 820-840 region first and then for a break approx 30 of May or June 6th, however more likely b4 6th of June.

Marked in red rectangles are important areas for price action to reach, price will reach the areas and retrace, action will be contained within 1,2,3,4 channel lines. We are currently in downtrend on EURO.

Ok, here's an updated scenario on spot gold, w/t price action forecast for next week, currently in complex wave 5, break of fuchsia rectangle would signal a new downside @ 611, and then an ABC correction, enter @ 625 targeting 634 initially and 651/ 675 if the C wave correction contunues, watch the clusters for possible retracement in price action.

USD index 4-hour chart, need to break that medianline to get a good chance of testing the upper fork eventually, the forecasted price action outlined in yellow. I suggest we see more dollar strength mid-term, however in the long-run US dollar offers little reliability, as the moneyflow is starting to turn away from US.

Here' s a weekly USDX charts, we have a reversal going on, targets are highlighted w/t red rectangles.

I will look to sell gold, cable, euro, and buy up swissie and canadian, if I get enough margin there.

Here's a Head and Shoulders pattern on EURO monthly charts there. Are we going for a deep dive?

Hello, here's a weekly chart on EURO w/t a confirmed bearish butterfly, targets below 1.2500. Ill call a trade too, Buy euro @ 2740 stop loss 2780 target 1 2660 target 2 2620 target 3 2540.

On cable sell 8620 stop loss 8680 target 1 8470 target 2 8380 target 3 8220.


Please watch daily pivots and m/math lines for confirmation and use your own judgement.

The dollar index is trading within the triangle setup, price action is getting tight, this is indicating a possible breakout away from the trading range in the coming days, the target is 86 and above, and the downside limited to 83 at this stage, wait for the RSI confirmation @ the breakout of the triangle pattern.

If dollar breaks out and goes to test 86 look 4 opportunities to sell gold above 662 and buy gold below 638. If the break sends us below 83, look to buy more gold ablove 670 and sell @ approx 700ish levels.

I though Ill update the 4hour gold chart. The scenario might be void if we break above 675 area, than the 5 wave down is void. However there is strong resistance @ 672-674 if we break that we will target 681 and 687. Would be looking for price action to retrace lower today, givven that that it broke daily channel @ 662, might be running out of gas, and will need to come back down to 646 region to try to establish above 660-670 region.

Im currently standing aside, as the market is confusing and I can't get any outlook on the USD index charts, I will post a USD index chart in a minute though.

Possible price action scenario for the next wek, high probability that price will retrace further, however targets have to be confirmed.

Here's a FIBO Cluster analysis that I did on market close, on 4-hour Gold charts. Rectangles, from the top to the bottom represent clusters of fibonacci retracements, this areas represent fibonacci agreement. Gold is in short-term downtrend now, the correction should resume next week. Important areas to watch are 646, which is 50% retracement from a major high/low, then the first fibo cluster is 634-637, then we have 4/8 mmath line w/t 625-628 critical levels on the mark. The 2d fibo cluster is 614-618 and the last one is 602-605 regions.

Price will likely break through 646 then reach 634-637

Hi everyone, thought Ill post 15-minute chart for gold. I was looking to short gold right b4 asian session, my entry was based on descending wedge formation, which tells about a shortage of demand for an asset. However, I didn't take into account that gold already had dipped a lot, so my entry was risky @ 679. Stopped out @ 683 for a 400 pip loss, traded 500 units. So that was a quick and sizeable loss for my account.

It was a technical trade. From left to right market in fuchsia rectangles are important areas in price action, first rectangle showing 23.6 fibo from a previous high/low, which is in agreement w/t m.math line 4/8 and 61.8 retracement of the intraday movement of 18th of May. Please not how these areas are in agreement, this is important.

Correct entry is marked in fuchsia rectangle on the right side, this shows price action retracing down off m.math line. For entry we would look at the RSI readings, that shows a previous peak in fuchsia and the current peak b4 price took a major dive. The 2d peak on RSI, reading break the previous RSI high (marked in fuchsia rectangle). This means that asset is way overbought. And then price action came straight down and break below 60, this is a strong signal to sell.

It was a purely technical trade, based on formation / price action analysis. Your exit would be right at 2/8 mmath line, because 3/8 line is a weak support in this case.

Fundumentals are mixed, however a strong signal would be a major dip on cable at asian session, note how gold responded to that but w/t some lag. First pound went down, then gold went down.

Other fundumentals are stronger dollar and expectations of further rate hikes in US. Yen and CAD have also lost roughly 100 pips due to inflation and bad economic data releases during the weak, which was reflected by a strengthening dollar, hence gold prices sliding lower.

I will update analysis w/t gold and dollar index charts over @ weekend.

My weekly results are concluded @ 62% equity growth w/t my currency accounts & only 14% gold account, it was 26% but then I took a big hit w/t 400 pips loss.

Everyone please have a good weekend and check back for new charts.

Ill update the Gold chart only for today, it's a 4-hour chart, market in fuchsia is today's action, gold is back in the downtrend channel, momentum might just indicate a new swift move downwards. This might happen at the asian session, and that could be a quick move.

I will post a minute chart too, there is a wedge formation there, just have to confirm w/t the RSI.

Here's a good article on the Commodities outlook for the next 10 years, what they are saying is we are currently entering a new bull cycle, w/t weakening currencies investors are looking for a more solid vehicle...

Commodities Boom To Last Over 10 Years

FRANKFURT (Dow Jones)--A new bull market is underway in commodities that is set to last the next decade or more, Chief Executive of Swiss asset management fund Diapason Commodities Management SA Stephan Wrobel told the Dow Jones European Commodity Investment conference in Frankfurt Tuesday.

"This asset class will allow investors to find returns, diversification, and inflation protection, over the next 10 years. There will be consolidations along the way as there always have been in every bull market in history," he said.

Throughout history, commodity and equity cycles alternate every 18 years, give or take five years, Wrobel said. Right now, a number of catalysts are in place for the current cycle, he added.

"There has been a long underinvestment phase in productive capacity, transport and transformation of commodities, resulting in today's inelasticity of commodities supply. Three billion people are joining the global market economy, creating additional demand growth in this environment of inelasticity," he said. "Higher prices are needed to attract new investments in productive capacity, after a capital investment famine that lasted 20 years," he told delegates.

At the same time, Wrobel said the international dollar-based monetary system is "crippled with debt, very accommodative monetary policies with excessive money supply growth and negative real rates." "A currency debasement process is at work," he added.

Industrialization of China and the rise of Asian consumers are meanwhile generating a boom in demand for commodities. "Asian states are competing with established powers for raw materials. A phase of competition for natural resources has started that will create more geopolitical instability in producing areas," Wrobel said.

"A global power shift from West to East is on the way but also from consumer to producer," he told the conference. Wrobel said there are a lot of "fantasies" about commodities, but recent studies have shown that commodities are no more risky than stocks, offer diversification to an equity/bond portfolio and also offer protection for inflation. "Today, prices in real terms are coming from historically low levels," he added.

Finally, there is EUR/USD H4 chart. Marked in orange recrangle is price bouncing off the mid line of the uptrend channel, note how that reached the BB too, and retraced all the way down. This was followed by a swift move and EUR is now in short-term downtrend, however price action retraced off the 4/8 mmath line, which is acting as a major support line. Note how the 261 target is in agreement with mmath lines. We need a clearn break below 2695, meanwhile EUR might consolidate for a while. No clear signal, downside capped by 2635, upside capped w/t 2765 for now.

Gold trading below 687, back in the downtrend channel. Previous targets reached at 710 and then 715.

Now the price action is below 700 and targeting 679 then 674, reverse back up w/t clear break above 688.

Bias remains bearish and momentum is picking up for a next move. Update @ asian session noon time.

Ok, so a new chart on USD index, it now breacked the downtrend channel and is trading well back in the uptrend channel. Came right through the 2/8 murray math line. Stronger dollar would see Euro and pound trading at lower ranges and might signal a new dip on currencies.

It means gold could dip below 670. Upside potential on USDX limited by 85.50. Downside limited by 84.30, which is a m/math line.

The USD index H4 chart. Price action bounced off important m.math 2/8 level, now we need extreme momentum readings for USDX to dive to sub 84 levels.

USD index is an important indicator of gold price action. Whenever the idex dips low, gold prices start to pick up.

Please note the blue rectangles, they mark important points in time, when price zoomed through the channel lines.

Short-to-mid term we should see a dive to apporx 83.80 levels, alternatively the USDX could reverse at 84.20 levels and establish above 84.80.

Both scenarios are a possibility.

Here's an H4 chart of gold for today, 17th of May 2006.

Marked in orange rectangles are important points in time, where price action zoomed through the channels. The first rectangle was used to forecast that slide and zooming the other time.

As you can see b4 that swift overnight move at the asian session A/D line was picking up, meaning extremely high volumes. Momentum shows positive divergence and the Aroons has a cross above the trigger line. All pointing out that gold should trade higher in mid-term.

Gold price action is currently stuck at 50 fibo line, however it bounced strongly from 6/8 mmath line and now targeting 710 and then 718 mid-term, if the support holds above 694 levels. Downside is restricted by 687/674/656 all are important levels to watch.

Price action coming back into the channel nicely too. We should see gold trading higher mid-term.

Hi, this blog is private / invite only, I will update w/t my spot gold and currency charts, approx 3 times a week.